Hernia Repair Devices Market
The Global Hernia Repair Devices Market is estimated to be valued at USD 6.21 Bn in 2024 and is expected to reach USD 8.24 Bn by 2031, exhibiting a compound annual growth rate (CAGR) of 4.1% from 2024 to 2031. The global hernia repair devices market is driven by factors such as rising geriatric population, increasing prevalence of hernia, technological advancement in hernia repair devices, and minimally invasive procedures. Hernia is a protrusion or projection of an organ through the structures or spaces normally containing it. It can occur in abdominal region as well as groin area. Abdominal hernias include hiatal, umbilical, incisional, and femoral hernias while inguinal and femoral hernias occur in the groin area. The global hernia repair devices market players are continuously developing advanced repair devices and procedures to cater growing demand.
Market Dynamics:
The global hernia repair devices market is primarily driven by factors such as rising geriatric population, increasing prevalence of hernia, technological advancement in hernia repair devices, and minimally invasive procedures. However, high cost of hernia surgeries and lack of awareness in low- and middle-income countries are restraining market growth. Adoption of robot-assisted surgeries is creating growth opportunity for players. Players focus on developing innovative mesh and fixation devices for open, laparoscopic and robotic assisted surgeries. Growing medical tourism in emerging countries offers lucrative opportunity. However, postoperative complications associated with mesh repair and pricing pressure from hospitals are key challenges.
Key Features of the Study:
- This report provides in-depth analysis of the global hernia repair devices market, and provides market size (US$ Billion) and compound annual growth rate (CAGR%) for the forecast period (2024–2031), considering 2023 as the base year
- It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market
- This study also provides key insights about market drivers, restraints, opportunities, new product launches or approvals, market trends, regional outlook, and competitive strategies adopted by key players
- It profiles key players in the global hernia repair devices market based on the following parameters – company highlights, products portfolio, key highlights, financial performance, and strategies
- Key companies covered as a part of this study include Medtronic Plc, Johnson & Johnson, Becton Dickinson and Company, Ethicon Inc. (Johnson & Johnson), C.R. Bard (Becton, Dickinson and Company), Boston Scientific Corporation, Cook Medical, B. Braun Melsungen AG, Atrium Medical Corporation (Getinge AB), W. L. Gore & Associates, Integra LifeSciences Holdings Corporation, Herniamesh S.r.l., Acelity L.P. Inc., Stryker Corporation, and Baxter International Inc.
- Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics
- The global hernia repair devices market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts
- Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global hernia repair devices market
Market Segmentation
Table of Contents
*Browse 32 market data tables and 28 figures on 'Global Hernia Repair Devices Market' - Global forecast to 2031
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