The global hernia repair market in terms of revenue was estimated to be worth $4.1 Billion in 2024 and is poised to reach $5.1 Billion by 2029, growing at a CAGR of 4.2% from 2024 to 2029. The new research study consists of an industry trend analysis of the market. The new research study consists of industry trends, pricing analysis, patent analysis, conference and webinar materials, key stakeholders, and buying behaviour in the market. During the forecast years, growth of the market is attributed to the increasing number of hernia repair procedures, increasing adoption of mesh in hernia repair surgeries, new product development, effectiveness of mesh repair, rising geriatric population, availability of reimbursement and technological advancement in the coming years.
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The mesh segment is to register a significant growth rate over the forecast period of 2024-2029.
Based on the product, over the forecast period of 2024-2029, the mesh segment is to register a significant growth rate. The hernia repair product market is segmented into mesh, sutures and mesh fixators. The hernia mesh segment comprises synthetic and biologic mesh. Sutures are sub-segmented into absorbable and non- absorbable sutures. The hernia mesh fixators comprise tack and glue applicators. The key factors encouraging the growth of mesh segment during the forecast period are the nonpermanent mesh, availability of wide range of existing mesh types and high prices as compared others.
The open surgery segment accounted for the largest share of hernia repair in 2024-2029.
Based on surgery type, the open surgery segment is estimated to hold the largest market share of the Hernia repair market during the forecast period. While in 2024, laparoscopic surgery is expected to register the highest CAGR in the market for hernia repair during the forecast period. Time efficiency, low recurrence rate and economical approach of the technique lead to a large share of the open surgery segment.
Asia Pacific registered the highest CAGR in the market during the forecast period.
Asia Pacific is expected to register the highest CAGR in the market for hernia repair during the forecast period. Asia Pacific comprises China, India, South Korea, Taiwan, and Singapore, and the rest of Asia Pacific. Factors such as the growing adoption of advanced treatment options, presence of a large target patient population and improving diagnosis and treatment rates are driving the growth of the APAC hernia repair market during the forecast period.
Key Market Players
prominent players in hernia repair are Ethicon Inc. (US), AbbVie Inc. (US), Medtronic plc (Ireland), Becton Dickinson and Company (US), Baxter International Inc. (US), B. Braun SE (Germany), W. L. Gore & Associates (US), Cook Group Inc (US), Integra Lifesciences Holdings Corporation (US), among others.
MEDTRONIC PLC (Ireland):
Medtronic is a multinational medical technology company with a significant global presence in the market. The company operates in many countries and has manufacturing, R&D facilities and sales offices worldwide.
Medtronic manufactures and markets wide range of medical devices and services including innovative and effective hernia repair products. The end users of company’s products are hospitals, clinics, third-party healthcare providers, other institutions (including governmental healthcare programs and group purchasing organizations), and distributors.
BECTON DICKINSON AND COMPANY (US)
Becton Dickinson (BD) is one of the leading medical technology companies in the world. It develops, manufactures, and markets medical devices, instrument systems, and reagents. BD offers various products for inguinal and ventral hernia procedures such as synthetic surgical `mesh, mesh fixation systems, and biologic implants.
ETHICON INC. (PART OF JOHNSON & JOHNSON, US):
Ethicon is a manufacturer and supplier of medical device and surgical equipments.Under Johnson & Johnson, the company was incorporated as a subsidiary to provide various products for hernia repair procedures. Ethicon provides a range of solutions for hernia repair and minimally invasive surgeries. The hernia repair products include various types of hernia meshes and fixation devices.
Hernia Repair Market - Key Benefits of Buying the Report:
The report will enable established firms as well as entrants/smaller firms to gauge the pulse of the market, which, in turn, would help them to garner a larger market share. Firms purchasing the report could use one or a combination of the below-mentioned strategies to strengthen their market presence.
This report provides insights on the following pointers:
Analysis of key drivers (increasing hernia prevalence, effectiveness of mesh repair, availability of reimbursement, technological advancement), restraints (hernia mesh recall and market withdrawals, high costs of mesh repair and availability of less-expensive approaches, long waiting times in developed countries), opportunities (growth potential offered by emerging markets), and challenges (increasing pricing pressure on market players in developed markets, dearth of expertise in laparoscopic surgery) influencing the growth of the hernia repair market
Market Penetration: Comprehensive information on the product portfolios offered by the top players in the hernia repair market
Service Development/Innovation: Detailed insights on the upcoming trends, R&D activities, and service developments in the hernia repair market
Market Development: Comprehensive information on lucrative emerging regions
Market Diversification: Exhaustive information about new services, growing geographies, and recent developments in the hernia repair market
Competitive Assessment: In-depth assessment of market segments, growth strategies, revenue analysis, and services of the leading market players.
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Content Source:
https://www.marketsandmarkets.com/PressReleases/hernia-mesh-devices.asp
https://www.marketsandmarkets.com/ResearchInsight/hernia-mesh-devices-market.asp
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