Rise in advanced meshes demand, surge in implementation of robotic surgeries, and increase in number of hernia patients drive the global hernia repair devices and consumables market. However, high costs related to repair surgeries of hernia and stringent reimbursement policies restrain the market growth. On the other hand, technological advancements and opportunities in emerging countries offer new opportunities in the coming years.
According to the report published by Allied Market Research, the global hernia repair devices and consumables industry generated $4.74 billion in 2019, and is projected to garner $6.35 billion by 2027, witnessing a CAGR of 3.6% from 2020 to 2027. The report provides a detailed analysis of changing market dynamics, top segments, value chain, key investment pockets, regional scenario, and competitive landscape.
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- The demand for hernia repair devices and consumables has significantly dropped during the coronavirus pandemic. Many patients have postponed surgeries due to fear of infection. Moreover, some doctors have also been recommending postponement or conducting surgeries such as hernia repair in extreme conditions only.
- Manufacturing and research & development (R&D) activities have been drawn to a close by the manufacturers due to lockdown restrictions by governments. However, some of the factories have started production up to certain extent as restrictions are being lifted off.
growth in number of hernia surgical procedures and rise inprevalence of hernia in low- & middle-income countries play a major role in the growth of the market. Furthermore, rise inawareness of advanced hernia repair devices is expected to boost the market growth in the coming years.Onkar Sumant
Manager, Healthcare at Allied Market Research
The report provides a comprehensive analysis of the key players operating in the global hernia repair devices and consumables market industry, namely Allergan Plc., B. Braun Melsungen AG, Baxter International Inc., Becton, Dickinson and Company (C.R. Bard, Inc.), Cook Medical, Inc., HerniameshS.r.l., Johnson & Johnson (Ethicon Inc.), Medtronic Plc., The Cooper Companies, Inc., and W. L. Gore & Associates, Inc. The other players in the value chain (not profiled in the report) include Integra LifeSciences, and Insightra medical.
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North America to maintain its dominance in terms of revenue throughout the forecast period
Based on region, North America contributed the majority share, with nearly two-fifths of the total market share of the global hernia repair devices and consumables market in 2019, and will maintain its dominance throughout the forecast period. This is attributed to early approval of hernia repair devices and surge in number of hernia procedures. However, Asia-Pacific is expected to portray the fastest CAGR of 4.9% during the forecast period, owing to affordability, rise in healthcare expenditure, and increase in awareness regarding hernia repair surgeries in emerging nations.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domains.
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