According to a new report published by Allied Market Research, titled, “Hernia Repair Devices and Consumables Market by Product, Surgery Type, and Hernia Type: Opportunity Analysis and Industry Forecast, 2018–2025,”the global hernia repair devices and consumables market generated $4.74 billion in 2019, and is projected to reach $6.35 billion by 2027, growing at a CAGR of 3.6% from 2020 to 2027.The consumables segment accounted for more thanfour-fifthsof the total market share in 2019.
Hernia repair is one of the commonly performed surgical procedures worldwide. It employs hernia repair devices and consumables to treat hernia. There are two types of productsfor hernia repair, namely, fixation devices and consumables, which include mesh, tack, and staplers. These fixation devices are designed to support durable hernia repairs. Two types of surgeries are usually practiced for hernia repair, namely, laparoscopic hernia repair and open tension-free repair surgery.Consumablesare the implants used in hernia surgeries such as surgical mesh.A number of R&D activitiesare performed worldwide to develop advanced hernia repair products. For instance, innovation and development of biological meshes using stem cells, which is expected to drive the global hernia devices and consumables market. Currently, non-availability of effective substitutes for mesh-based hernia repair surgery provides numerous opportunities to hernia consumable manufacturers in emerging economies.
Factors such as increase in number of hernia surgical procedures, rise in prevalence of hernia, surge in adoption of advanced meshes rather than conventional meshes, and technological advancements in hernia surgeries such as use of robotic surgeries are anticipated to drive the adoption of these devices. However, high cost of hernia surgical procedures and inconsistent reimbursement policies hamper the market growth. Conversely, development of advanced hernia repair devices and growing scope in untapped emerging economies provide lucrative growth opportunities for the market growth.
On the basis ofsurgery type, the market is categorized intoopen tension-free repair surgery and laparoscopic surgery. The laparoscopic surgery segment is expected to grow at a CAGR of 4.5% during the forecast period, due to technological advancements in hernia repair surgeries.
On the basis of hernia type, the inguinal hernia segment occupied the largest share in 2019, i.e. about 68.8%. Whereas, the incisional hernia segment is expected to grow at a CAGR of 5.3% during the forecast period.
Asia-Pacific is expected to grow at the highest CAGR during the forecastperiod. This is attributed to increase in affordability, surge in healthcare expenditure, rise in disposable income, and rise in awareness toward hernia repair surgeries in emerging countries.
The report provides a comprehensive analysis of the key players operating in the global hernia repair devices and consumables market industry, namely Allergan Plc., B. Braun Melsungen AG, Baxter International Inc., Becton, Dickinson and Company (C.R. Bard, Inc.), Cook Medical, Inc., HerniameshS.r.l., Johnson & Johnson (Ethicon Inc.), Medtronic Plc., The Cooper Companies, Inc., and W. L. Gore & Associates, Inc. The other players in the value chain (not profiled in the report) include Integra LifeSciences, and Insightra medical.
Key Findings of the Study
- The consumables segment accounted for around 86% share of the global hernia repair devices and consumables market in 2019.
- The laparoscopic surgery segment is expected to grow at a CAGR of 4.5% from 2020 to 2027.
- The umbilical hernia segment accounted for around 8.2% share of the global hernia repair devices and consumables market in 2019.
- Europe accounted for around 32.5% share of the global hernia repair devices and consumables market in 2019.
- LAMEA is expected to grow at the highest CAGR of 4.3% from 2020 to 2027.