According to the report published by Allied Market Research, the global hernia repair devices and consumables market accounted for $4,156 million in 2016, and is projected to reach $5,554 million, growing at a CAGR of 4.2% from 2017 to 2023.
The market study is an in-depth analysis of the hernia repair devices and consumables market. It enables the interested business owners and individuals understand the entire market with the help of critical industry insights. It provides an overview of the drivers, restraints, and opportunities impacting the industry. It discusses the market size, share, segmentation, and technology trends that are currently prevailing in this market. It also provides information about the leading players operating in the market.
The report elaborately analyzes the drivers, restraints, and opportunities of the hernia repair devices and consumables market. Higher acceptance of tension-free repair procedures, increase in demand for advanced meshes, rise in adoption of robotic surgeries, and high prevalence of hernia drive the growth of the market. However, factors such as high cost of hernia repair surgeries and inconsistent reimbursement policies hinder the growth of the industry. Conversely, technological advancements in hernia repair devices and opportunities in emerging economies provide lucrative opportunities for the market growth.
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The report emphasizes on the various segments of the hernia repair devices and consumables market. The market is segmented into product, surgery type, hernia type, and geography. The report splits the product segment into fixation devices and consumables. Based on surgery type, the market is bifurcated into open tension-free repair surgery and laparoscopic surgery. Based on hernia type, the market is divided into incisional hernia, umbilical, inguinal hernia, and femoral hernia. The geographical analysis of the market covers the regions such as North America, Europe, Asia-Pacific, and LAMEA.
The key players in the hernia repair devices and consumables market are expanding the scope of their business operations in the developing countries by including innovative products in their product portfolios. The report includes a detailed competitive analysis of the major market players, such as B. Braun Melsungen AG, Baxter International Inc., C.R. Bard, W. L. Gore & Associates, Inc., LifeCell Corporation, Herniamesh S. R. L., Medtronic Plc., Ethicon, Inc., Cook Medical Inc., and Cooper Surgicals Inc.
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