Upsurge in demand for advanced meshes, increase in adoption of robotic surgeries, and rise in number of hernia patients drive the growth of the global hernia repair devices and consumables market.
According to the report published by Allied Market Research, the global Hernia repair devices and consumables market garnered $4.74 billion in 2019, and is expected to generate $6.35 billion by 2027, registering a CAGR of 3.6% from 2020 to 2027. The report offers an extensive analysis of changing market dynamics, key winning strategies, business performance, major segments, and competitive scenario.
Upsurge in demand for advanced meshes, increase in adoption of robotic surgeries, and rise in number of hernia patients drive the growth of the global hernia repair devices and consumables market. However, expensive repair surgeries of hernia and lack of strong reimbursement policies hinder the market growth. On the other hand, technological innovations in hernia repair devices create new opportunities in the coming years.
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- The demand for hernia repair devices has been reduced during the coronavirus pandemic. Many patients have postponed surgeries, while some doctors are allowing the surgeries such as cataract surgery, knee or hip replacements, and hernia repair only in extreme conditions.
- Moreover, the research and development (R&D) and manufacturing activities have been halted by the manufacturers due to lockdown and post-lockdown restrictions by governments on the electronic industry during coronavirus outbreak.
The report offers a detailed segmentation of the global hernia repair devices and consumables market based on product, surgery type, hernia type, and region.
Based on product, the majority of share was contributed by consumables segment. It accounted for more than four-fifths of the total share in 2019, and is estimated to maintain its lead position during the forecast period. However, the fixation devices segment is anticipated to grow at the highest CAGR of 4.6% during the forecast period.
Based on surgery type, the majority of share was contributed by the open tension-free repair surgery segment, accounting for more than four-fifths of the total share in 2019, and is expected to maintain the its dominance from 2020 to 2027. However, the laparoscopic surgery segment is estimated to portray the highest CAGR of 4.5% during the forecast period.
Based on region, North America will maintain its dominance throughout the forecast period, and contributed the majority share, which is nearly two-fifths of the total market share, in 2019. However, Asia-Pacific is projected to grow at the largest CAGR of 4.9% during the forecast period.
Leading market players analyzed in the research include Allergan Plc., Baxter International Inc., B. Braun Melsungen AG, Becton, Cook Medical, Inc., Dickinson and Company (C.R. Bard, Inc.), HerniameshS.r.l., Medtronic Plc., Johnson & Johnson (Ethicon Inc.), The Cooper Companies, Inc., and W. L. Gore & Associates, Inc..
Scope of the Report:
|Market size available for years||2020-2027|
|Base year considered||2020|
|Forecast units||Value (USD)|
|Segments covered||Product, Surgery Type, Hernia Type, Region|
|Geographies covered||North America, Europe, Asia-Pacific, LAMEA|
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