HERNIA REPAIR DEVICES MARKET ANALYSIS

Hernia Repair Devices MarketSize and Trends

Global hernia repair devices market is estimated to be valued at US$ 7,275.7 million in 2022 and is expected to exhibit a CAGR of 7.6% during the forecast period (2022-2030).

Figure 1. Global Hernia Repair Devices Market Share (%), by Hernia Type, 2022

Increasing prevalence of hernia is expected to propel growth of the global hernia repair devices market over the forecast period.

Increasing prevalence of hernia is expected to drive market growth over the forecast period. For instance, according to the study published by national library of medicine titled “Prevalence and risk factors for abdominal wall hernia in the general Russian population,”  in May 2019, abdominal wall hernias were found in 20.9% of population.

Figure 2. Global Hernia Repair Devices Market Share (%), by Region, 2022

Increasing geriatric population is expected to boost demand for hernia repair devices and is expected to drive market growth during the forecast period.

Increasing geriatric population is expected to drive market growth over the forecast period. For instance, according to Rural Health Information Hub, a U. S. government organization, as of June, 2019, there are more than 46 million adults with age 65 and older living in the U.S. and by 2050, that number is expected to grow to almost 90 million. Thus, increase in the geriatric population is expected to drive the market growth for the forecast period.

Global Hernia Repair Devices Market– Impact of Coronavirus (COVID-19) Pandemic

Since the COVID-19 virus outbreak in December 2019, the disease has spread to over 100 countries across the globe and the World Health Organization had declared it a public health emergency on January 30, 2020.

COVID-19 has affected the economy in three main ways: by directly affecting production and demand of drugs and vaccines, by creating disruptions in distribution channels, and through its financial impact on firms and financial markets. Due to nationwide lockdowns, several countries, such as China, India, Saudi Arabia, UAE, Egypt, and others, faced problems with regard to the transportation of drugs and vaccines from one place to another. COVID-19 had limited impact on the global hernia repair devices market as hospitals were occupied by COVID-19 patients.

Global Hernia Repair Devices Market: Key Developments

In July, 2020, researchers from University Politehnica of Bucharest, Romania, reported that hydrogel coatings based on methacryloyl gelatin and methacryloyl mucin have potential to modulate polypropylene mesh integration in abdominal wall repair.