Acute Market Reports estimated the overall hernia repair devices market in 2020 to be US$ 2.28 Bn across the globe. In the recent years, following for tension-free hernia repair surgery is observed because the procedure minimizes recovery time, reduces post-operative complications and minimizes the risk of hernia recurrence. The global hernia repair devices market will grow during forecast period due to increasing number of target population, wide availability of technologically advanced hernia repair devices and growing treatment awareness among the general population.

The report titled “Hernia Repair Devices Market - Growth, Future Prospects and Competitive Analysis, 2021–2029” provides strategic insights into the hernia repair devices market. For the purpose of this study, market is categorized on the basis of product type, hernia type and geography. Based on product type, the market is segmented into mesh material, hernia fixation devices, endoscopy equipment and other. Demand for the mesh material (biologic hernia repair mesh and synthetic hernia repair mesh) is the highest in market as these products reduce the chance hernia recurrence. Based on major types of disease, market classified as inguinal, femoral, incisional, ventral, umbilical and hiatal hernia.

Hernia repair devices market report covers quantitative information as well as qualitative information to provide better analysis of the current market situation and future scenario. In-depth information about market drivers, opportunities and challenges are included in report to understand the current trends in the global hernia repair devices market. Attractive investment proposition and market positioning of manufacturers provides detail information regarding the competitive situation of global hernia repair devices market.

Rising number of target patient population and technological advancements in hernia surgical procedures are prime factors fueling the growth of hernia repair devices market globally. Hernia repair surgeries are one of the most frequently performed surgeries in the United States. According to the Cleveland Clinic, approximately 5 million Americans have hernias. Most insurance entities such as Medicare and Medicaid etc. cover hernia surgery, thus facilitating convenient treatment access to patients.

It is observed that among the considered market segments, the demand for mesh material is the highest, as treatment approach with mesh is a drastic shift from autogenous tissue repair to use of biological and synthetic mesh. Hernia has a high rate of recurrence; therefore surgeons prefer use of surgical mesh to support the hernia repair and to reduce the risk of recurrence. Although hernia mesh offers several advantages, there are some factors such as infection, chronic pain, mesh migration, mesh shrinkage, adhesion formation, bowel obstruction and mesh perforation injuries to surrounding organs may negatively impact the market growth of mesh materials. Despite the presence of several local and international companies involved in the manufacture of mesh material, players such as Medtronic Inc., Atrium, C. R. Bard Medicals, B. Braun Melsungen AG, Ethicon Inc., Gore Medical and LifeCell Corporation mainly dominate this segment due to widespread brand identity among surgeons.

Rising prevalence of hernia, growing healthcare awareness among the general population, wide availability of hernia repairing mesh, technological advancement in hernia repair procedures and favorable reimbursement from government agencies and private organizations are the prime factors that are fueling the growth of hernia repair devices market, globally. Hernia repair is one of the most common procedures performed worldwide. Among the considered hernia repair procedures, inguinal hernia is most common form with approximately 75% of hernias being inguinal. More than half of inguinal hernias are congenital and are 10 times more common in men. According to the Society of American Gastrointestinal and Endoscopic Surgeons (SAGES), almost 600,000 inguinal hernia repair procedures are performed annually in the U.S. Laparoscopic procedures are widely accepted for treatment of inguinal hernias. Favorable reimbursement policies form insurance companies such as Medicare, Medicaid, Cigna etc. for hernia surgeries is another factor that fueling the growth of hernia repair devices market.

Among the considered regions, North America is current leader in the global hernia repair devices market in terms of revenue and is expected to continue its dominance during the forecast period 2021-2029. The prominent position of North America market is supported by certain factors such as early adoption of novel technologies, higher cost of hernia repair devices, well developed healthcare infrastructure, wide availability of advanced hernia repair devices, and greater prevalence. Rise in funding by government agencies and third party organizations in healthcare system is an additional factor that assists the hernia repair devices market progress in the United States. Insurance companies such as Medicare, Medicaid or Cigna etc. cover hernia repair surgery in United States. Furthermore, it is estimated that Asia Pacific would experience a lucrative market growth over the forecast period 2021 to 2029 due to expansion of distribution network of key market players in developing countries such as China and India, growing number of target population, developing healthcare infrastructure, proliferating medical tourism and improving economic condition. It is studied that, hernia surgery cost is highest in the United States however, in developing countries such as India and Mexico hernia surgeries are performed at cheaper cost.

Historical & Forecast Period

This study report represents analysis of each segment from 2022 to 2032 considering 2023 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2024 to 2032.

The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.

Research Methodology

The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. key data point that enables the estimation of Hernia Repair Devices market are as follows:

• Research and development budgets of manufacturers and government spending
• Revenues of key companies in the market segment
• Number of end users and consumption volume, price and value.
• Geographical revenues generate by countries considered in the report
• Micro and macro environment factors that are currently influencing the Hernia Repair Devices market and their expected impact during the forecast period.

Market forecast was performed through proprietary software that analyzes various qualitative and quantitative factors. Growth rate and CAGR were estimated through intensive secondary and primary research. Data triangulation across various data points provides accuracy across various analyzed market segments in the report. Application of both top down and bottom-up approach for validation of market estimation assures logical, methodical and mathematical consistency of the quantitative data.

Key questions answered in this report

• What are the key micro and macro environmental factors that are impacting the growth of Hernia Repair Devices market?
• What are the key investment pockets with respect to product segments and geographies currently and during the forecast period?
• Estimated forecast and market projections up to 2032.
• Which segment accounts for the fastest CAGR during the forecast period?
• Which market segment holds a larger market share and why?
• Are low and middle-income economies investing in the Hernia Repair Devices market?
• Which is the largest regional market for Hernia Repair Devices market?
• What are the market trends and dynamics in emerging markets such as Asia Pacific, Latin America, and Middle East & Africa?
• Which are the key trends driving Hernia Repair Devices market growth?
• Who are the key competitors and what are their key strategies to enhance their market presence in the Hernia Repair Devices market worldwide?