Hernia Repair Devices Market To Report Impressive Growth, Revenue To Surge To US$6.2 Billion By 2024

27-Nov-2018 | Zion Market Research

With the presence of a large pool of participants, the global hernia repair devices market is displaying a highly competitive business landscape, finds a new research report by Zion Market Research (ZMR). Cook Medical Inc., Cooper Surgicals Inc., Baxter International Inc., B. Braun Melsungen AG, LifeCell Corporation, W. L. Gore & Associates, Inc., Betatech Medikal, Insightra Medical Inc., C.R. Bard, Hernia mesh S. R. L, Ethicon, Inc., Medtronic Plc, and Atrium Medical Corporation are some of the key vendors of hernia repair devices across the world. These players are focusing aggressively on innovation, as well as on including advanced technologies in their existing products. Over the coming years, they are also expected to take up partnerships and mergers and acquisitions as their key strategy for business development, states the hernia repair devices market study.

This review is based on a report by Zion Market Research, titled Hernia Repair Devices Market, by Mesh (Synthetic and Biological), by Fixation (Tack, Suture, Staple, and Glue), by Approach (Laparoscopic and Open), by Procedure (Femoral, Umbilical, Incisional/Ventral, Inguinal, and Others), by Care Setting (In-patient and Out-patient): Global Industry Perspective, Comprehensive Analysis and Forecast, 2017 – 2024.”- Report at https://www.zionmarketresearch.com/report/hernia-repair-devices-market

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Citing an instance, in October 2018, ACell Incorporation declared that Gentrix Surgical Matrix family of devices offers outstanding results for a longer period in the complex patient population for strong support of ventral hernias.

Global Hernia Repair Devices Market

As estimated in this report, the global hernia repair devices market stood at US$4.5 billion in 2017. Witnessing a tremendous rise during the period from 2018 to 2024, the revenue in this hernia repair devices market is expected to reach US$6.2 billion by the end of the forecast period.

Rise In Incidences Of Hernia To Boost Hernia Repair Devices Market Revenue

“Growing prevalence of hernia cases all across the globe is anticipated to drive hernia repair devices market trends, “says the author of this hernia repair devices market study. Apart from this, increasing geriatric and obese population base all across the globe are key growth driving factors of hernia repair devices market.

The high cost of the hernia repair devices, however, can act as the restraining factor for the hernia repair devices market and may affect its profit margins in the long term. Nonetheless, growing awareness about advantages of technologically advanced hernia repair devices over conventional methods along with significant merger and acquisition by the prominent market players to provide customers with devices according to their convenience along with drastically changing lifestyles is likely to provide new growth avenues for hernia repair devices market in the near future.

Huge Investments In R&D Activities To Help North America Maintain Dominance

Regionally, North America has been leading the worldwide hernia repair devices market and is anticipated to continue on the dominant position in the years to come, states the hernia repair devices market study. Significant investments in research and development along with the increasing hernia cases in the region is the main factor behind the dominance of the North America hernia repair devices market. The high number of market players being headquartered in North America is another significant factor that is supporting the growth of this regional hernia repair devices market. In addition, high amount of government funding will steer the growth of hernia repair devices market in North America.

The global hernia repair devices market is segmented as follows:

By Mesh

  • Synthetic
  • Biological

By Fixation

  • Tack
  • Suture    
  • Staple
  • Glue

By Approach

  • Laparoscopic
  • Open

By Procedure

  • Femoral
  • Umbilical
  • Incisional/Ventral
  • Inguinal
  • Others 

By Care Setting

  • In-Patient 
  • Out-Patient

By Region

  • North America
    • The U.S.
  • Europe
    • UK
    • France
    • Germany
  • Asia Pacific
    • China
    • Japan
    • India
  • Latin America
    • Brazil
  • The Middle East and Africa

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