Leading market research company Transparency Market Research (TMR) has announced the release of a new report on the global hernia repair devices market. The report thus examines one of the fastest growing markets for medical devices in the coming years and is a worthy addition to TMR’s vast repertoire of market research reports on the medical devices industry. the global market revenue totaled US$3.6 bn in 2012. Due to rising demand owing to the high prevalence of hernia, the global market is expected to reach a revenue figure of US$5.9 bn by 2019. This represents a CAGR of sturdy 7.5% from 2013 to 2019.
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Hernia occurs as result of protrusion of tissue through an abnormal opening and is affected most commonly to the geriatric population. Hernia is one of the major health concern worldwide. The study analyzes two major segments of the hernia repair devices namely, products and equipments and procedures. Hernia repair products and equipments are segmented as biologic materials, polymer and prosthetic mesh, surgical instruments and endoscopy equipment. The market for procedures includes tension repair, open-tension repair, laproscopic tension-free repair and other tension-free methods. The report also explains various technological advancements taking place in the segment.
The report includes market estimations of the global hernia repair devices market in terms of value (USD million) for the period 2013 – 2019, considering 2012 as the base year. In addition, current market trends and recent developments are taken into consideration while determining the growth rate of the global hernia repair devices market. The report provides market size and forecasts for each segment, sub-segments and geographic region with CAGR % for the period from 2013 to 2019.
The market is also forecasted in terms of value (USD million) for the period 2013 – 2019 for four major geographic regions namely North America, Europe, Asia-Pacific and Rest of the World (RoW). A detailed qualitative analysis of the factors responsible for driving and restraining the growth of hernia repair devices market and future opportunities are provided in the report. A PESTLE analysis has also been done while estimating individual geographies in order to provide current as well as future status. A list of recommendations for existing as well as new entrants has also been discussed in the study that is supposed to help in decision making.
Some of the key market players of the global hernia repair devices market include Covidien Plc, C.R. Bard Inc., Ethicon, B. Braun Surgical, Stryker Corporation and others. Market players are profiled in this report on the basis of attributes such as company overview, financial overview, business strategies adopted by the companies to ensure sustainability and maximize profits, product portfolio and recent developments