Global Hernia Repair Devices And Consumables Market Forecast 2021-2028
The global hernia repair devices and consumables market is expected to record a CAGR of 3.71%, over the forecast period of 2021 to 2028. The primary factors attributed to the region's market growth include, the rising incidence of hernia, the growing acceptance of robotic surgeries, the increasing demand for tension-free repaid procedures for treating hernia, and the surging need for novel, and advanced meshes.
A hernia is characterized by the weakening of the inner layers of abdominal muscles, due to which, the abdomen lining bulges out into a sac. The condition can affect multiple areas, like groin (inguinal hernia), naval (umbilical hernia), and incision surgery site, also known as a post-surgery hernia.
Over the last decade, the acceptance of robotic surgeries, globally, is continually rising, owing to the high accuracy and consistency, as well as the minimal possibility of human-errors. Robots' arms are capable of improved range of motions, in addition to eliminating hand tremors. Moreover, such surgeries are characterized by their ability to render improved 3D visualization. Robotic laparoscopies alter the potential of calibrating intricate and complex hand gestures, while sanctioning delicate work in smaller areas. As a result, robotic assistance provides enhanced outcomes, particularly during repaid procedures of MI inguinal hernia.
There has also been an increase in strategic collaborations among medical device manufacturers and robotic surgical equipment developers, to fulfil the approaching requirements of robotic surgeries, worldwide.
The global hernia repair devices and consumables market growth analysis includes assessing the Asia Pacific, Europe, North America, and the rest of the world. Healthcare industries in the Asia Pacific observe significant growth, because of the rise in healthcare expenditure, increased medical tourism, and improvements across healthcare infrastructures. Moreover, the high prevalence of hernia in the region is anticipated to propel market growth, further. As a result, the Asia Pacific is projected to lead the global market, over the forecast period.
The industrial rivalry within the global hernia repair devices and consumables market is intense, owing to the low product differentiation among products supplied by manufacturers, and similar market positions held by players. Some of the prominent companies operating in the market include, Baxter International Inc, Allergan PLC (acquired by Abbvie), Braun Melsungen Inc, Johnson and Johnson (Ethicon Inc), Medtronic PLC, etc.
Our report offerings include:
• Explore key findings of the overall market
• Strategic breakdown of market dynamics (Drivers, Restraints, Opportunities, Challenges)
• Market forecasts for a minimum of 9 years, along with 3 years of historical data for all segments, sub-segments, and regions
• Market Segmentation cater to a thorough assessment of key segments with their market estimations
• Geographical Analysis: Assessments of the mentioned regions and country-level segments with their market share
• Key analytics: Porter's Five Forces Analysis, Vendor Landscape, Opportunity Matrix, Key Buying Criteria, etc.
• Competitive landscape is the theoretical explanation of the key companies based on factors, market share, etc.
• Company profiling: A detailed company overview, product/services offered, SCOT analysis, and recent strategic developments
Learn how to effectively navigate the market research process to help guide your organization on the journey to success.Download eBook