Hernia Mesh Devices Market: Growth in Healthcare Sector

Posted 2024-06-26 20:28:52

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According to a recent industry analysis by Fact.MR, a leading provider of competitive intelligence and market research, the global Hernia Mesh Devices market is projected to achieve a valuation of US$ 4.72 billion by 2023, with a forecasted compound annual growth rate (CAGR) of 4% from 2023 to 2033. This growth is primarily attributed to the increasing prevalence of hernias worldwide. Common types include femoral, inguinal, and incisional hernias. Hernia mesh devices are employed to alleviate hernia-related symptoms, known for their safety, reliability, and cost-effectiveness. A 2020 BMJ Journal article reported that approximately 20 million hernias are treated annually, constituting 15% to 18% of all surgical procedures.

Key Takeaways from Market Study

Global sales of hernia mesh devices are expected to reach US$ 6.99 billion by 2033.
The market in China is predicted to expand rapidly at a CAGR of 6% during the projected period (2023 to 2033).
Demand for hernia mesh devices for inguinal hernia treatment is expected to rise at a CAGR of 4% during the next 10 years.
Sales of hernia mesh devices in Germany are anticipated to increase at a 3% CAGR.

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“Increasing demand for advanced hernia mesh devices, rising adoption of robotic surgeries, and growing rate of the senior population are driving market growth,” says a Fact.MR analyst.

Recent Developments

Becton, Dickinson, and Company gained FDA approval in July 2020 for their 3DMax MID Anatomical Mesh, which is intended for use in the repair of inguinal hernias and the strengthening of soft tissue.
Deep Blue Medical Inc. obtained FDA approval in August 2020 to start selling its novel hernia mesh device.

As a result of the rising hernia incidence, hernia repair surgery rates are sharply rising. Due to the increasing demand for the strengthening and restoration of unhealthy hernia tissue, hernia repair devices are becoming increasingly popular throughout the healthcare industry.

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Market Titans

Aspide Medical
Atrium
Braun Melsungen AG.
Baxter International, Inc.
R. Bard, Inc.
Cook Medical
Cousin Biotech
Covidien (Part of Medtronic)
Dipromed
Ethicon, Inc.
Feg Textiltechnik MBH
Herniamesh S.r.l
LifeCell Corporation
L. Gore & Associates

Competitive Landscape

Leading companies in the hernia mesh devices market are focusing on expanding their business on the regional level by changing pricing trends, improving product standards, quality control, and enhancing the local supply chain management system. Partnerships, collaborations, and new developments in products are also some of the marketing strategies adopted by market players.

In March 2020, Novus Scientific AB got FDA clearance for TIGR Matrix Surgical Mesh, which is intended to be used in treatment methods such as soft tissue repairs, including hernias or other soft tissue-related abnormalities.

Hernia Mesh Devices Industry Research Segmentation

By Hernia Type :

Inguinal
Incisional
Femoral

By Mesh Type :

Synthetic
Biological

By Procedure :

Open Surgeries
Laparoscopic Surgeries
Robotic Surgeries

By End-user :

Hospitals
Ambulatory Surgical Centers
Clinics

By Region :

North America
Latin America
Europe
East Asia
South Asia & Oceania
MEA

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Key Questions Covered in the Hernia Mesh Devices Market Report

What is the projected value of the Hernia Mesh Devices Market in 2023?
At what rate will the global Hernia Mesh Devices Market grow until 2033?
Which are the factors hampering the growth in the Hernia Mesh Devices Market?
Which region is expected to lead in the global Hernia Mesh Devices Market during 2023 to 2033?
Which are the factors driving the Hernia Mesh Devices Market during the forecast period?
What is the expected market value of the Hernia Mesh Devices Market during the forecast period?

More Valuable Insights on Offer

Fact.MR, in its new offering, presents an unbiased analysis of the global hernia mesh devices market, presenting historical demand data (2018 to 2022) and forecast statistics for the period of 2023 to 2033.

The study divulges essential insights on the market on the basis of hernia type (inguinal, incisional, femoral), mesh type (synthetic, biological), procedure (open surgeries, laparoscopic surgeries, robotic surgeries), and end user (hospitals, ambulatory surgical centers, clinics), across five major regions of the world

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