Global Hernia Repair Devices Market, by Product Type (Hernia Mesh (Biologic Mesh and Synthetic Mesh), Hernia Fixation Devices (Sutures, Tack Applicators, and Glue Applicators), by Surgery Type (Open Surgery and Laparoscopic Surgery), by Hernia Type (Inguinal Hernia, Umbilical Hernia, Incisional Hernia, Femoral Hernia, and Others), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) 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), as highlighted in a new report published by Coherent Market Insights.
Hernia occurs mainly due to bulging or protrusion of small tissues through an opening of muscles in the abdominal wall. Any part of the abdominal wall can be affected by hernia. However, the most common sites are groin (inguinal), previously operated regions, and the navel (umbilical).
Approval and launch of new products is expected to propel growth of the global hernia repair devices market over the forecast period. For instance, in June 2019, Ethicon, part of the Johnson & Johnson Medical Devices Companies, received a 510(k) clearance from the U. S. Food and Drug Administration (FDA) for its Vistaseal applicators, which spray a biological sealant to stem moderate bleeding during open or laparoscopic surgical procedures.
Global Hernia Repair Devices Market– Impact of Coronavirus (COVID-19) Pandemic
The COVID-19 pandemic and lockdowns in various countries across the globe have impacted the financial status of businesses across all sectors, including the private healthcare sector. The COVID-19 pandemic has impacted the entire supply chain of the healthcare industry, mainly due to strict lockdown in several regions. Private healthcare is one such sector that has been impacted significantly by the COVID-19 pandemic. The COVID-19 pandemic had a limited impact on the global hernia repair devices market as a number of hospitals were occupied with COVID-19 patients and due to decrease in the number of hernia related surgical procedures.
Global Hernia Repair Devices Market: Key Developments
In November 2021, Medtronic plc, a U.S.-based medical device company, announced that it received U. S. Food and Drug Administration (FDA) 510(k) clearance for its PillCam small bowel 3 system for remote endoscopy procedures.
Browse 34 Market Data Tables and 30 Figures spread through 190 Pages and in-depth TOC on “Global Hernia Repair Devices Market”- Forecast to 2030, Global Hernia Repair Devices Market, by Product Type (Hernia Mesh (Biologic Mesh and Synthetic Mesh), Hernia Fixation Devices (Sutures, Tack Applicators, and Glue Applicators), by Surgery Type (Open Surgery and Laparoscopic Surgery), by Hernia Type (Inguinal Hernia, Umbilical Hernia, Incisional Hernia, Femoral Hernia, and Others), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa)
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Moreover, key market players are focused on product launches, in order to enhance their market presence. For instance, in September 2019, ACell, Inc., a Columbia based Biotechnology Company and Southmedic, a healthcare products manufacturing company, launched Gentrix Surgical Matrix family of devices, which includes ACell’s platform MatriStem UBM (Urinary Bladder Matrix) technology. The Gentrix Surgical Matrix family of devices are used for the treatment of hernia and abdominal wall repair.
Key Takeaways of the Global Hernia Repair Devices Market:
- Global hernia repair devices market is expected to exhibit a CAGR of 7.6% during the forecast period due to the increasing geriatric population. For instance, according to WHO (World Health Organization), as of October 4, 2021, there were around 1 billion people above the age of 60 globally in 2020.
- Among surgery type, Open surgery is estimated to account for the largest market share owing to its benefits such as the low cost of the procedure and fewer post-operative complications. Open hernia surgery involves making a large incision over the abdomen. The surgical mesh is placed over the repaired hernia to reinforce surrounding tissues. Benefits of open surgery include prevention of hernia reoccurrence, low cost of procedures, and lower chances of postoperative complications.
- On the basis of regions, North America is estimated to account for the largest market share in the global hernia repair devices market over the forecast period, due to rising healthcare expenditure and faster FDA approvals are adding to the market growth in the region.
- Major players operating in the global hernia repair devices market include Johnson & Johnson Services, Inc., Cooper Companies Inc., Lifecell Corporation (Allergan Plc), W. L. Gore & Associates, Inc., Maquet Holding B.V. & Co. KG, Becton, Dickinson and Company, Medtronic Plc, Cook Medical Inc., Baxter International Inc., and B. Braun Melsungen AG.
