Press Release

The Global Hernia Repair Devices Market is projected to grow from USD 6.85 billion in 2021 to USD 11.47 billion by 2030 at a CAGR of 7.5% during the forecast period.

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A hernia is a medical condition in which an organ or fatty tissue pushes through a weak point where it should be restricted. Surgical treatment is used to treat hernias, and it is the most common procedure performed worldwide. Every year, almost 3 million hernia repairs are performed around the world. Every year, over 1.2 million hernia repair surgeries are performed in the United States. Laparoscopic hernia repair surgery and open tension-free repair surgery are the two most frequent approaches for hernia repair. Fixation devices and consumables are used to perform these procedures (mesh-based surgery). 

Due to the abrupt imposition of stringent lockdowns across the globe during the pandemic, COVID-19 is projected to have a detrimental influence on industry growth. Furthermore, the industry was advised to concentrate solely on emergency and urgent appointments. Due to these circumstances, many patients' visits were cut short, and hernia surgery was postponed. For example, according to the article 'Elective hernia surgery cancellation due to COVID-19 pandemic' published in 2020, the lowest caseload was recorded in April 2020, when the number of hernia repairs was almost 25% of those performed from February to June 2019. As a result, the COVID-19 outbreak slowed the market's expansion.

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Hernias are becoming more common, which is expected to boost business growth. According to the Electronic Physician Journal, the prevalence of abdominal hernias was at 11.7 percent in 2017, with Para-umbilical hernia, inguinal hernia, and umbilical hernia being the most common. The high prevalence of hernias is expected to fuel demand for hernia repair operations, which would boost the market growth. Hernia mesh devices are used in hernia repair surgeries to help and support the afflicted tissue's development. As a result, the rise in hernia incidence and prevalence is expected to increase the number of hernia repair surgeries and the adoption of hernia repair devices. According to a 2020 article published by the Royal College of Surgeons of England, over 100,000 hernia repairs are performed in England each year. As a result, the increase in the incidence and prevalence of hernias is expected to hasten the adoption of hernia repair devices.

The growing aging population, which is more vulnerable to such illnesses, is also boosting the market growth. Increasing awareness of hernia treatment options, such as minimally invasive (MI) hernia repair devices, is also contributing to market expansion. Various product breakthroughs, such as the creation of biologic allograft mesh with enhanced efficiency, also contribute to the industry's expansion. Unlike the more often used synthetic mesh, biological mesh helps reduce post-surgery pain and has a speedier recovery time. Other reasons, such as the expanding use of robotics in surgical procedures and the global improvement of healthcare infrastructure, are expected to propel the market even further.

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The Asia Pacific is expected to have the fastest revenue growth due to the medical tourism is on the rise, as are affordable treatments, technology breakthroughs, and increased healthcare reimbursements. Furthermore, due to the large patient pool, demand for hernia repair devices is expanding in Asian countries, particularly in China and Japan. The region is predicted to grow rapidly due to a huge number of misdiagnosed and untreated cases, which will help to fuel the market's expansion.   

KEY INDUSTRY DEVELOPMENTS:       

In 2017, C. R. Bard was acquired by BD; BD joined the hernia repair business with this acquisition. C. R. Bard expects the acquisition to assist it expand its geographic reach in terms of sales and operations while also maintaining its market position.

In June 2017, SYNECOR Preperitoneal Biomaterial was introduced by W. L. Gore GORE. The company was able to expand its product offerings in the hernia sector thanks to the newly introduced device.

In 2016, B. Braun Medical Zambia Limited, a new subsidiary in Zambia, was established to help the company build a solid footing in Southern Africa.

Read More Details On This Report: https://extrapolate.com/Healthcare-Medical-Devices-Biotechnology/hernia-repair-devices-market/25750