Industry Size, Growth Trends, and Latest Insights

Global Hernia Repair Market is expected to reach US$ 5.8 billion by 2030, registering a CAGR of over 3.0% analysis by RationalStat

WILMINGTON, DELAWARE, UNITED STATES, August 22, 2023/EINPresswire.com/ — Hernia Repair Market is valued at US$ 4.5 billion in 2022, globally, and is expected to grow at a significant CAGR of over 3.0% over the forecast period of 2023-2030, market report by RationalStat

Market Definition, Market Scope, and Report Overview

Various driving factors influence the hernia repair market’s growth and development. Innovative surgical techniques, minimally invasive procedures, and sophisticated hernia repair materials have greatly improved patient outcomes and reduced recuperation periods. Surgeons are increasingly using laparoscopic and robotic-assisted techniques, which may increase demand for hernia repair treatments. Growing awareness about the availability of hernia treatment options and the significance of immediate intervention is encouraging more patients to seek medical assistance for their hernias, which is contributing to market growth.

According to a deep-dive market assessment by RationalStat, the global hernia repair market has been analyzed on the basis of market segments, including product, procedure type, surgery type, and geography/regions (incl. North America, Latin America, Western Europe, Eastern Europe, Middle East & Africa, and Asia Pacific). The report also offers global and regional market sizing for the historical period of 2019-2022 and the forecast period of 2023-2030.

Market intelligence for the global hernia repair market covers market sizes on the basis of market value (US$/EUR Million) by various products/services/equipment, demand assessment across the key regions, customer sentiments, price points, cost structures, margin analysis across the value chain, financial assessments, historical and forecast data, key developments across the industry, import-export data, trade overview, components market by leading companies, etc.

In addition, the long-term sector and products/services 10-year outlook and its implications on the global Hernia Repair market. It also includes the industry’s current state – Production Levels, Capacity Utilization, Tech quotient, etc. Key information will be manufacturing capacity by country, installed base, import volumes, market size, key players, market size, dynamics, market data, insights, etc.

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Global Hernia Repair Market: Segmental and Market Share Analysis

On the basis of product type, hernia mesh as the largest segment of the global hernia repair device market, accounting for the majority of the market share. This is due to the high effectiveness of mesh in reducing the risk of hernia recurrence compared to other products.

On the basis of surgery type, the inguinal hernia segment is expected to dominate the global hernia repair market. The huge number of inguinal hernia repair procedures conducted each year accounts for the considerable share of this segment.

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Period Covered include data for 2019-2028 along with year-wise demand estimations

The hernia repair market report analyzes the market on the basis of global economic situations, regional geopolitics, import-export scenarios, trade duties, market developments, organic and inorganic strategies, mergers and acquisitions, product launches, government policies, new capacity addition, technological advancements, R&D investments, and new market entry, replacement rates, penetration rates, installed base/fleet size, global and regional production capacity, among others.

RationalStat offers market analysis and consulting studies on the basis of dedicated and robust desk/secondary research supported by a strong in-house data repository. In addition, the research leverages data based on the real-time insights gathered from primary interviews. Market estimations and insights are based on primary research (covering more than 240 entities) and secondary research by leveraging international benchmarking.

The global hernia repair market report also covers value chain and supply chain analysis that provides in-depth information about the value chain margins and the role of various stakeholders across the value chain. Market dynamics provided in the market study include market drivers, restraints/challenges, trends, and their impact on the market throughout the analysis period.

In the competition analysis section, the global hernia repair market provides a detailed competition benchmarking analysis based on the market share of the leading companies/ brands/producers/suppliers, a market structure overview with detailed company profiles of more than 25 players with their financials, product/service offerings, major developments, business models, etc. This enables, clients and report buyers to make strong, precise, and timely decisions.

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Macroeconomic Scenario and the Impact of COVID-19 on Regional Economic Sentiment

In the latest RationalStat analysis, geopolitical conflicts and inflation are the cited economic risks, while concerns about the volatility across energy sectors prevail in Europe and other parts of the world. Some of the potential risks to the economic growth in the leading regions, including Asia Pacific, Europe, North America, the Middle East & Africa, and other developing regions, are inflation, volatile energy prices, supply chain disruptions, geopolitical instability, labor shortages, rising interest rates, and COVID-19 pandemic.

The global economy experienced heavy headwinds, throughout 2019-2021, as some countries witnessed subdued growth, while other countries continued to grapple with economic slowdowns. The COVID-19 pandemic has levied undue pressure across the majority of industries globally and has caused a major economic crisis in the US, India, Italy, the UK, Germany, India, Japan, South Korea, the UK, and many others. Besides, the exit of the UK from the European Union earlier in 2020 and the Russo-Ukraine war in 2022 exacerbated the ever-heightened global uncertainty.

In addition to this, the global economic growth slowed in 2022 to 3.3%, weaker than expected at the end of 2021, mainly weighed down by Russia’s war in Ukraine and the associated cost-of-living crisis in many countries. However, improvement in economic activities during the forecast period is expected. Growth is projected to remain at lower rates in 2023 and 2024, at 2.6% and 2.9% respectively.

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Competition Analysis and Market Structure

These players adopt various strategies in order to reinforce their market share and gain a competitive edge over other competitors in the market. Mergers & acquisitions, partnerships and collaborations, and product launches are some of the strategies followed by industry players. Some of the key developments in the global hernia repair market include,

• In June 2020, GORE SYNECOR, a tri-layer hybrid material created by W. L. Gore & Associates for simplicity of use during laparoscopic repair devices, robotic, and open surgical operations, has received a C.E. mark.

• In September 2020, DuraSorb, the flagship absorbable mesh from Surgical Innovation Associates, has received CE Mark for reconstructive and cosmetic applications such as abdominal hernia prevention, breast tissue support, and prosthetic breast support.

Some of the prominent players and suppliers operating and contributing significantly to the global hernia repair market growth include Medtronic, Johnson & Johnson, B. Braun Melsungen AG, C.R. Bard, Inc., W.L. Gore & Associates, Inc., Cook Medical, Inc., Atrium Medical Corporation, Ethicon Endo-Surgery, Inc., LifeCell Corporation, and Boston Scientific Corporation among others.

RationalStat has segmented the global hernia repair market based on product, procedure type, surgery type and region

• Global Hernia Repair Market Value (US$ Million) and Market Share (2019-2030) Analysis by Product

o Hernia Mesh

o Synthetic Mesh

o Biological Mesh

o Hernia Fixation devices

o Sutures

o Tack Applicators

o Glue Applicators

• Global Hernia Repair Market Value (US$ Million) and Market Share (2019-2030) Analysis by Procedure Type

o Laparoscopic Procedure

o Open/Conventional Procedure

• Global Hernia Repair Market Value (US$ Million) and Market Share (2019-2030) Analysis by Surgery Type

o Inguinal Hernia Repair

o Incisional/Ventral Hernia Repair

o Umbilical Hernia Repair

o Femoral Hernia Repair

• Global Hernia Repair Market Value (US$ Million) and Market Share (2019-2030) Analysis by Region

o North America Hernia Repair Market

 US

 Canada

o Latin America Hernia Repair Market

 Brazil

 Mexico

 Rest of Latin America

o Western Europe Hernia Repair Market

 Germany

 UK

 France

 Spain

 Italy

 Benelux

 Nordic

 Rest of Western Europe

o Eastern Europe Hernia Repair Market

 Russia

 Poland

 Hungary

 Other CIS Countries

 Rest of Eastern Europe

o Asia Pacific Hernia Repair Market

 China

 Japan

 India

 South Korea

 Australia

 ASEAN

• Indonesia

• Thailand

• Philippines

• Vietnam

• Malaysia

• Rest of ASEAN

 Rest of Asia Pacific

o Middle East & Africa Hernia Repair Market

 GCC

• Saudi Arabia (KSA)

• United Arab Emirates (UAE)

• Rest of the GCC

 South Africa

 Nigeria

 Turkey

 Rest of the Middle East & Africa

• Leading Companies and Market Players

o Medtronic

o Johnson & Johnson

o B. Braun Melsungen AG

o C.R. Bard, Inc.

o W.L. Gore & Associates, Inc.

o Cook Medical, Inc.

o Atrium Medical Corporation

o Ethicon Endo-Surgery, Inc.

o LifeCell Corporation

o Boston Scientific Corporation

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Key Questions Answered in the Hernia Repair Report:

• What will be the market value of the global Hernia Repair market by 2030?

• What is the market size of the global Hernia Repair market?

• What are the market drivers of the global Hernia Repair market?

• What are the key trends in the global Hernia Repair market?

• Which is the leading region in the global Hernia Repair market?

• What are the major companies operating in the global Hernia Repair market?

• What are the market shares by key segments in the global Hernia Repair market?

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Research Methodology

RationalStat has developed a state-of-the-art research methodology to crunch numbers and provide the best possible real-time insights to clients. We combine a varied range of industry experience, data analytics, and experts’ viewpoint to create a research methodology for market sizing and forecasting.

RationalStat combines a mix of secondary sources as well as primary research to assess the market size and develop a forecast. Key steps involved in accurately deriving the market numbers are:

• Defining the problem by understanding the type of market and data required by the client.

• Data gathering and collection through relevant paid databases, publicly available sources, company reports, annual reports, surveys, and interviews.

• Formulating a hypothesis to create market numbers, forecasts, influencing factors, and their relevance.

• Evaluating and analyzing the data by referring to data sources utilized and leveraged.

• Validating, interpreting, and finalizing the data by combining the details gathered from primary and secondary sources with the help of experienced analysts.

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About RationalStat LLC

RationalStat is an end-to-end global market intelligence and consulting company that provides comprehensive market research reports, customized strategy, and consulting studies. The company has sales offices in India, Mexico, and the US to support global and diversified businesses. The company has over 80 consultants and industry experts, developing more than 850 market research and industry reports for its report store annually.

RationalStat has strategic partnerships with leading data analytics and consumer research companies to cater to the client’s needs. Additional services offered by the company include consumer research, country reports, risk reports, valuations and advisory, financial research, due diligence, procurement and supply chain research, data analytics, and analytical dashboards.

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