Transparency Market Research Report Added "Hernia Repair Devices Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast upto 2019"
Albany, NY -- (SBWIRE) -- 01/12/2017 -- The global hernia repair devices market was worth US$3,578.21 million in 2012 and, due to the rising number of hernia repair surgeries, the overall market is expected to grow at a CAGR of 6.4% between 2013 and 2019. The global hernia repair devices market is estimated to be valued at US$5,936.43 million by the end of 2019.
A hernia is a sac formed on the lining of the abdominal cavity. The sac comes out through a hole or weak area of the strong abdominal wall that surrounds the muscle. Inguinal, incisional, femoral, umbilical, ventral, and hiatal are the common types of hernia. It is often reported in the elderly population. Hernia is closely associated with obesity.
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Consistent rise in obesity among the global population along with the increase in the geriatric population is expected to boost the hernia repair devices market. As surgery is the only treatment to repair hernia, the demand for hernia repair devices, especially biologic meshes, has been high. Increased adoption of tension-free hernia repair procedures is expected to help the global hernia repair devices market grow further.
However, the high cost of development of hernia repair devices will restrain market growth. Inconsistent reimbursement policies will also negatively affect the market. Recently, it has been observed that market players are focusing on countries where composite mesh is being increasingly preferred over other hernia repair devices. Manufacturers are tying up with robotic surgery equipment manufacturers in an effort to develop advanced hernia repair devices. This will open new avenues for the overall market.
Depending upon the types of products and equipment on offer in the global hernia repair devices market, the market has been segmented into polymer and prosthetic mesh, surgical instruments, endoscopy equipment, and biologic materials. Biologic materials, along with polymer and prosthetic mesh, are widely used to reconstruct the muscles of the abdominal wall. However, the biologic materials segment is expected to grow at a faster rate than the polymer and prosthetic mesh segment during the forecast period.
On the basis of the types of procedures used for hernia repair, the global hernia repair devices market has been categorized into tension repair and open tension-free repair. Doctors and patients these days increasingly prefer tension-free hernia repair procedures over the conventional incision repair procedures, due to the greater comfort it offers to the patient. Hence, the growth of this segment will be substantial during the forecast period.
Globally, the hernia repair devices market has been divided into four key regions: Asia Pacific, North America, Europe, and Rest of the World. North America has emerged as the leading regional segment of the overall market. The region accounts for about 41.3% of the global hernia repair devices market.
The key players of the global hernia repair devices market include Olympus Corporation, Life Cell Corporation, Ethicon Inc., C.R. Bard Inc., Covidien Plc, Cook Medical Inc., and W.L. Gore & Associates. As surgeons are focusing on minimally invasive procedures for hernia repair, market players are concentrating on developing advanced technology regarding hernia repair devices and this trend is set to shape the future of the global hernia repair devices market.
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