Rise inawareness of advanced hernia repair devices is expected to boost the market growth in the coming years

PORTLAND, OREGON, UNITED STATES, October 7, 2021 /EINPresswire.com/ -- According to the report by Allied Market Research, titled, "Hernia Repair Devices and Consumables Market by Product (Fixation Devices and Consumables), Surgery Type (Open Tension-Free Repair Surgery and Laparoscopic surgery), and Hernia Type (Incisional Hernia, Umbilical, Inguinal Hernia, and Femoral Hernia): Global Opportunity Analysis and Industry Forecast, 2020–2027". 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 global hernia repair devices and consumables market size was valued at $4,742 million in 2019, and is projected to reach $6,350 million by 2027, at a CAGR of 3.6% from 2020 to 2027.

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.

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.

Comprehensive competitive analysis and profiles of major market players, such as

Allergan Plc.
Baxter International Inc.
B. Braun Melsungen AG
Becton, Dickinson and Company (C.R. Bard, Inc.)
Cook Medical, Inc.,
HerniameshS.r.l.
Medtronic Plc.
Johnson & Johnson (Ethicon Inc.)
The Cooper Companies, Inc.
W. L. Gore & Associates, Inc.

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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.

Key Benefits For Stakeholders

• The study provides an in-depth analysis of the Hernia Repair Devices and Consumables Market along with the current trends and future estimations to elucidate the imminent investment pockets.

• It offers Hernia Repair Devices and Consumables Market analysis from 2020 to 2027, which is expected to enable the stakeholders to capitalize on the prevailing opportunities in the market.

• A comprehensive analysis of four regions is provided to determine the prevailing opportunities.

• The profiles and growth strategies of the key players are thoroughly analyzed to understand the competitive outlook of the global Hernia Repair Devices and Consumables Market growth.

FREQUENTLY ASKED QUESTIONS?

Q1. What is the market value of Hernia Repair Devices and Consumables Market report in forecast period?
Q2. What would be forecast period in the market report?
Q3. What is the market value of Hernia Repair Devices and Consumables Market in 2020?
Q4. Which is base year calculated in the Hernia Repair Devices and Consumables Market report?
Q5. Does the Hernia Repair Devices and Consumables Market company is profiled in the report?
Q6. Which are the top companies hold the market share in Hernia Repair Devices and Consumables Market?
Q7. Does the Hernia Repair Devices and Consumables Market report provides Value Chain Analysis?
Q8. What are the key trends in the Hernia Repair Devices and Consumables Market report?

The consumables segment to maintain its dominance during the forecast period

Based on product, the consumables segment held the largest market share in 2019, contributing for more than four-fifths of the global hernia repair devices and consumables market, and is estimated to maintain its dominance during the forecast period. This is attributed to increase in usage and application along with rise in number of hernia surgeries. However, the fixation devices segment is expected to register the highest CAGR of 4.6% from 2020 to 2027, owing to high adoption rate of laparoscopic hernia surgeries and high recurrence rate of suture-based surgery.

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