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Hernia Repair Market to Grow at a CAGR of 4.48% During the Forecast Period 2020-2025

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Palli Prapul
Hernia Repair Market to Grow at a CAGR of 4.48% During the Forecast Period 2020-2025

Hernia Repair Market size in 2019 is estimated to be $4.5 billion, growing at a CAGR of 4.48% during the forecast period 2020-2025. Hernia is a type of disease in which the inner layers of abdominal muscles become weak. It can affect multiple areas such as navel, groin and others. Herniorrhaphy and hernioplasty are the common types of hernia surgery that helps to prevent hernia disease. Increasing prevalence of hernia and technological advancement are the major factors driving the growth of the market. Moreover, rising adoption of surgeries, growing awareness about hernia disease and rise in the number of medical procedures further enhance the overall market demand for hernia repair during the forecast period 2020-2025.

Source Type - Segment Analysis

Based on the Product, hernia repair market is segmented into mesh and mesh fixators. The mesh fixators is forecast to be the fastest-growing segment and is estimated to grow at a CAGR of 3.6% during the forecast period 2020-2025. This is mainly owing to rising adoption of surgical glue. Moreover, avoiding pressure wounds and simple and effective surgery are contributing to the growth of this segment.

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Type - Segment Analysis

Based on the Type, hernia repair market is segmented into umbilical, incisional, femoral, inguinal, paraumbilical, epigastric and others. In 2019, Inguinal hernia held the largest share in the hernia repair market. Inguinal Hernia are most common in people ages of 75 to 80 and the chances of having an inguinal hernia increases with age. Growing number of Inguinal hernia repair surgeries that are contributing to the growth of hernia repair market.

Geography - Segment Analysis

North America dominated the hernia repair market share accounting for 39% of the market in 2019. This is mainly owing to increasing prevalence of hernia disorder cases and improved healthcare facilities. According to U.S. Department of Health and Human Services, more than 1 million hernia repairs are performed each year in the U.S. and adoption of hernia repair is approximately 800,000 in the U.S. In addition, the presence of large number of hernia patients and an efficient and favorable healthcare system are contributing the growth of hernia repair market.

However, the Asia-Pacific region is forecast to be the fastest-growing during the forecast period 2020-2025. This is owing to increase in disposable incomes, growing awareness among patients regarding hernia surgical processes and increasing geriatric population.

Drivers –Hernia Repair Market

Increasing Prevalence of Hernia

Increasing prevalence of neurological disorder and growing geriatric population are driving the growth of hernia repair market. According to National Center for Health Statistics, about 2% women and 25% men are suffering from hernia disease at least once in their lifetime. Moreover, rising prevalence of obesity are also set to increase the market growth.

Technological Advancements

Technological Advancements and increased knowledge of hernia repair techniques are some factors driving the growth of the market. Recent advancements in hernia repair devices such as self-fixation mesh and the articulating mess devices are driving the market. Moreover, increasing adoption of minimally invasive surgical techniques and increasing awareness towards treatment further contribute to the growth of hernia repair market.

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Challenges – Hernia Repair Market

The high cost of meshes are limiting the growth of the market. Moreover, risk of infection and complications, long waiting times in surgery are further restraining the growth of the market during the forecast period 2020-2025.

Hernia Repair Industry Outlook

Product launches, Merger & Acquisitions, joint ventures and R&D activities are key strategies adopted by players in the Hernia Repair Market. Hernia repair top 10 companies are B. Braun Melsungen AG, Cook Group Inc., Cousin Biotech, C.R. Bard, Medtronic, Dipromed, Ethicon Inc., FEG Textilechnik mbH, Herniamesh S.R.L., Integra Lifesciences, Allergan and MAQUET Holding B.V. & Co. KG.

Developments:

4 April 2019: Cook Biotech has collaboration with Progressive Medical for Biodesign Hernia in U.S. that focused on overall cost effectiveness, efficiency, improved patients outcomes and safety.

20 December 2019: Johnson & Johnson has acquisition with Verb Surgical Inc. for the development in medical technology including open surgery, laproscopic surgery for abdominal hernia and help to improve outcomes for patients around the world.

Key Takeaways

In 2019, North America dominates the hernia repair market owing to increasing prevalence of hernia disorder cases and improved healthcare facilities.

Increased prevalence of hernia and technological advancements are driving the market growth of hernia repair.
Detailed analysis of the Strength, Weakness, and opportunities of the prominent players operating in the market will be provided in the hernia repair market report.

The high cost of meshes and long waiting times are challenging the growth of the market.

Related Report:

1.Hernia Mesh Devices Market

https://www.industryarc.com/Report/15190/hernia-mesh-devices-market.html

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