(PharmaNewsWire.Com, August 26, 2021 ) The Key Growth Elements in Detailed?
The rising adoption of mesh in hernia repair surgeries, rising geriatric population, new product developments, and favorable reimbursement scenario in developed countries are the major factors driving the growth of this market.
The report analyzes and studies the patient population affected with hernia in the US, Canada, Germany, France, the UK, Japan, China, and India. Along with patient population, the report studies the adoption of synthetic and biologic mesh in hernia repair surgeries and the adoption of suture, tack, and glue applicators for mesh fixation.
Worldwide Growth Opportunities in Terms of Revenue:
The hernia repair market is projected to reach USD 4.75 billion by 2023 from USD 4.09 billion in 2018, at a CAGR of 3.0% during the forecast period.
The hernia mesh segment is estimated to account for the largest share of the hernia repair market
On the basis of product, the hernia repair market is segmented into mesh and mesh fixators. A mesh is used for reinforcing weak spots in the muscle while repairing the hernia. Mesh fixators are used to fix the mesh in its place to avoid displacement. In 2018, the hernia mesh segment is expected to account for the largest share of the market. This large share can be attributed to the higher prices of meshes compared to mesh fixators.
In 2018, tack applicators to account for the largest share of the mesh fixators market
The hernia mesh fixators market is segmented into sutures, tack applicators, and glue applicators. Among these, sutures is the most common type of mesh fixator, followed by tack. However, due to the higher price of tacks, the tack applicators segment is expected to account for the largest share in the mesh fixators market in 2018. While the rising adoption of surgical glue as mesh fixators makes glue applicators the fastest growing segment of the mesh fixators market.
The global hernia repair market is segmented into four major regions, namely, North America, Europe, the Asia Pacific, and the Rest of the World (RoW). In 2018, North America is estimated to account for the largest market for hernia mesh devices. The large share of North America in this market can be attributed to the strong demand for and adoption of hernia repair in the US, presence of a large pool of hernia patients, and an efficient and favorable healthcare system are supporting the growth of the hernia repair market in North America.
Major Key Players Mentioned in the research report are:
The major players in the hernia repair market profiled in this report are Covidien ( Part of Medtronic) (Ireland), Ethicon (Part of Johnson & Johnson) (US), B. Braun (Germany), C.R. Bard (Part of Becton Dickinson) (US), W. L. Gore (US), LifeCell (Part of Allergan) (Ireland), Maquet (Part of Getinge) (Sweden), Cook Medical (US), Integra (US), DIPROMED (Italy), FEG (Germany), Cousin Biotech (France), Herniamesh (Italy), Aspide Medical (France), TransEasy Medical (China), and Via Surgical (Israel).
Medtronic (Ireland): Medtronic is a multinational medical technology company that manufactures and markets products for alleviating pain and restoring health. The company’s products are used by hospitals, clinics, third-party healthcare providers, distributors, and other institutions (including governmental healthcare programs and group purchasing organizations).
The company has a strong presence in the US market and is expanding its reach in emerging markets. For instance, in 2016, the company opened its regional headquarters in Singapore to improve its market presence in the Asia Pacific Hernia Mesh Market.
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