According to a report published by Allied Market Research, the global hernia repair devices and consumables market size was projected to reach $6.35 billion with a considerable CAGR from 2020 to 2027. North America is currently holding the highest market share, owing to increase in number of hernia procedures. The Asia-Pacific region, at the same time, is expected to grow at the fastest rate, owing to high market potential which led to the development of many hernia products including biological mesh and others.
Hernia repair surgery is common for hundreds and thousands of people around the world. Most of these operations are completed using hernia mesh implants. Hernia mesh, also known as surgical mesh, is a healthcare tool that supports damaged tissue around hernias while it heals. In the U.S., hernia mesh is used in almost nine out of ten hernia surgeries annually, according to the FDA.
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.
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COVID-19 Scenario
- 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.
Moreover, numerous factors such as high prevalence rate of hernia worldwide, rise in adoption of robotic surgeries, high adoption rate of tension free hernia repair surgeries, increase in demand for advanced mesh, and others are significantly contributing to the growth of global hernia repair devices and consumables market. With this drift on board, the market is definitely going to acquire large prospects and exponential growth in the near future.