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Hernia's Surging Prevalence to Benefit Global Hernia Repair Devices and Consumables Market Growth

 

According to Inkwood Research, the Global Hernia Repair Devices and Consumables Market is predicted to project a CAGR of 3.71% in terms of revenue during the forecasting years of 2021-2028.

"Browse 71 Market Data Tables and 49 Figures spread over 205 Pages, along with an in-depth TOC on the Global Hernia Repair Devices and Consumables Market Forecast 2021-2028."



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A hernia entails the weakening of the abdominal muscles' inner layers, due to which the abdomen lining bulges out into a sac. The disease can affect numerous areas like, the groin and navel, termed as an inguinal hernia and umbilical hernia, respectively, as well as the incision site of surgery, typically known as a post-surgery hernia.

Increasing Incidence of Hernia Bolsters Market Growth

The prevalence of hernia is higher in men, than in women. Moreover, hernia repair is among the most common surgical procedures performed, globally. The condition is linked with risk factors such as, age, smoking, unhealthy lifestyles, and obesity, among others. Statistics depict that hernia's annual fatality rate per 100,000 individuals is 0.5%, and the healthy lives lost, account for 14.7 years.

According to the Food and Drug Administration (FDA), over one million hernia repair procedures are conducted each year, across the United States. Out of these, nearly 800,000 procedures are inguinal repairs. Although hernia's definite cause remains unknown, distinct indications include family history, obesity, weakened muscles, abdominal pressure, old age, and poor nutrition. For instance, an inguinal hernia is more prevalent among the elderly population, due to age-related conditions like collagen laxity, bronchitis, and prostatism.

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Laparoscopic Surgery is the Prominent Surgery Type

Laparoscopy is characterized by a minimally invasive surgical technique for treating different types of hernia. Besides, this technology has replaced the open tension-free repair surgery approach, in numerous procedures. Laparoscopic hernia repair entails a mesh being placed in the pre-peritoneal space of the abdominal cavity. This type of surgery is more advantageous, owing to benefits, such as, minimized postoperative pain, shorter hospital stays, and quick recovery time for patients. It is also known as tension-free repair, due to the reduced need for analgesics, compared to open tension repairs. As a result, laparoscopic hernia repair is widely popular among patients.

Asia Pacific to Register Fastest Growth by 2028

Healthcare sectors across the Asia Pacific are observing substantial growth, due to increased healthcare expenditure, growth in medical tourism, and improved healthcare infrastructure. Moreover, the high incidence rate of hernia has considerably fueled the Asia Pacific hernia repair and consumables market growth. However, the shortage of experienced professionals, the unreliable compensation, and the high cost of hernia repair devices, are expected to hinder the region's market growth.

The global market experiences low product differentiation between products supplied by manufacturers. Likewise, all players harbor a similar market position. As a result, the competitive rivalry across the market is anticipated to remain high, over the forecast period. Key industries operating in the market include, Baxter International Inc, Medtronic PLC, Johnson & Johnson (Ethicon Inc), Allergan PLC (Acquired by Abbvie), Braum Melsungen AG, etc.

About Inkwood Research

Inkwood Research specializes in syndicated & customized research reports and consulting services. Market intelligence studies with relevant fact-based research are customized across industry verticals such as technology, automotive, chemicals, materials, healthcare, and energy, with an objective comprehension that acknowledges the business environments. Our geographical analysis comprises of North & South America, CEE, CIS, Middle East, Europe, Asia, and Africa.

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