Hernia Repair Market Research Report – Segmented By Region (North America, Europe, Asia-Pacific, Middle-East & Africa, Latin America) – Analysis on Size, Share, Trends, COVID-19 Impact, Competitive Analysis, Growth Opportunities and Key Insights from 2019 to 2030.
Published date -30th Jan 2024
Formats -PDF, CSV
Hernia Repair Market Size & CAGR in 2021
The global hernia repair market size was valued at USD 4.1 billion in 2021, with a Compound Annual Growth Rate (CAGR) of 4.5% from 2021 to 2025. The market is anticipated to reach USD 5.6 billion by the end of 2025. This growth can be attributed to the increasing prevalence of hernias, advancements in surgical techniques, and a rising geriatric population.
COVID-19 Impact on the Hernia Repair Market
The COVID-19 pandemic had a significant impact on the hernia repair market. Due to restrictions on elective surgeries and the focus on treating COVID-19 patients, many hernia repair procedures were postponed or canceled. This led to a temporary dip in the market growth throughout 2020. However, as healthcare services resumed and patient confidence increased, the market started to recover in 2021.
Hernia Repair Dynamics
The hernia repair market is driven by factors such as the increasing prevalence of hernias, technological advancements in surgical procedures, and a growing preference for minimally invasive techniques. The market is also influenced by the aging population, which is more prone to developing hernias due to weakened abdominal muscles.
Segments and Related Analysis
The hernia repair market can be segmented based on hernia type, product type, procedure type, and end-user. Hernia types include inguinal hernias, femoral hernias, umbilical hernias, and others. Product types include mesh repair products, fixation devices, and biologics. Procedure types comprise open hernia repair and laparoscopic hernia repair. End-users of hernia repair products and services include hospitals, ambulatory surgical centers, and clinics.
By Region Analysis
The global hernia repair market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. North America dominates the market due to the presence of advanced healthcare infrastructure, high healthcare expenditure, and a large patient pool. However, the Asia Pacific region is expected to witness the fastest growth during the forecast period, driven by improving healthcare facilities, increasing awareness about hernia repair, and a growing geriatric population.
Key Market Players and Competitive Landscape
Key players in the hernia repair market include Medtronic, Ethicon Inc., B. Braun Melsungen AG, Cook Medical, Atrium Medical Corporation, C. R. Bard, Inc., W. L. Gore & Associates, Inc., Olympus Corporation, and Integra Lifesciences Holdings Corporation. These companies focus on strategic collaborations, product launches, and mergers and acquisitions to gain a competitive edge in the market.
Recent Happenings in the Hernia Repair Market
In recent years, the hernia repair market has witnessed several developments, such as the introduction of innovative hernia repair devices and techniques. For example, Medtronic launched the Hernia Repair Device, a minimally invasive solution for hernia repair. Ethicon Inc. expanded its product portfolio with the introduction of advanced mesh repair products. These advancements aim to improve patient outcomes and enhance the efficiency of hernia repair procedures.