Hernia Repair Devices Market Analysis, Size, Share and Forecast Report to 2028

Posted on 2022-12-01 by researchinsights in Healthcare // 0 Comments

San Francisco, California , USA, Dec 01, 2022 — /EPR Network/ —

Hernia Repair Devices Industry Overview

The global Hernia Repair Devices Market size is expected to reach USD 7.21 billion by 2028, registering a CAGR of 5.65% over the forecast period, according to a new report by Grand View Research, Inc. The market is primarily driven by increasing prevalence of obesity and hernia globally. Being overweight causes the pressure and strain on abdominal muscles and makes them prone to development of the disease. Moreover, technological advancements and several product launches in the field of repair devices are further augmenting the growth.

Factors contributing to the growth include sedentary lifestyle, obesity, large weight loss, poor diet, chronic cough, and pregnancy. Furthermore, favorable reimbursement policies and FDA approvals of various repair devices are encouraging patients to opt for open or laparoscopy surgery. According to NCBI Report, more than 20.0 million hernia repair procedures are performed each year globally. The surgical procedure is an important revenue stream for hospitals, estimated at USD 48.0 billion per year in U.S.

Hernia Repair Devices Market Segmentation

Grand View Research has segmented the global hernia repair devices market on the basis of product type, surgery type, procedure type, and region:

Based on the Product Type Insights, the market is segmented into Hernia Mesh and Hernia Fixation Devices

The hernia mesh segment dominated the market with a revenue share of 76.1% in 2020 owing to the wide adoption of these devices.
The hernia fixation devices segment is expected to expand at the fastest CAGR in terms of revenue during the forecast period.

Based on the Surgery Type Insights, the market is segmented into Inguinal Hernia, Umbilical Hernia, Incisional Hernia, Femoral Hernia, and Others

Inguinal hernia dominated the market with a revenue share of over 65.0% in 2020.
The incisional hernia segment is expected to expand at the fastest CAGR in terms of revenue during the forecast period.

Based on the Procedure Type Insights, the market is segmented into Open Surgery and Laparoscopic Surgery

Open surgery dominated the market with a revenue share of 76.3% in 2020 and is expected to maintain its lead throughout the forecast period owing to its benefits such as the low cost of the procedure and fewer post-operative complications.
Laparoscopic surgery is expected to register the fastest growth rate in terms of revenue over the forecast period as it is widely accepted as a hernia treatment option.

Hernia Repair Devices Regional Outlook

North America
Europe
Asia Pacific
Latin America
Middle East & Africa (MEA)

Key Companies Profile & Market Share Insights

The market has been characterized by high competition owing to the presence of established players operating in the market. Thus, to maintain a greater market share, many large companies are coexisting with companies that specialize in a particular product line.

Some prominent players in the global Hernia Repair Devices market include:

B Braun Melsungen AG
Cook Medical
Medtronic Plc
L. Gore & Associates
Ethicon Inc.
R Bard Inc
Atrium
LifeCell Corporation
Baxter International
Herniamesh S.R.L.

Order a free sample PDF of the Hernia Repair Devices Market Intelligence Study, published by Grand View Research.

About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

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