According to the latest market report published by Credence Research, Inc. “Hernia Repair Devices Market – Growth, Future Prospects and Competitive Analysis, 2015 – 2025” the global hernia repair devices market was valued at US$ 2.08 Bn in 2016, and is expected to reach US$ 2.59 Bn by 2025, expanding at a CAGR of 2.5% from 2017 to 2025.
The purpose of the report is to illustrate the state of the market of Sterile Injectables, to present actual information about the volumes of production, exports, imports, consumption and the state of the market, the changes that took place in 2017, and also, to build a forecast for the growth of the industry in the medium term until 2026.
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Hernia repair is among the most common surgeries performed. As reported by the Association of VA surgeons (2014), in the U.S. alone, over 350,000 ventral hernia repair procedures are performed annually. Hernia repair procedures are performed either through large incisions or laparoscopically. It is observed that the demand for laparoscopic repair procedures is high as against the former due to advantages offered by minimally invasive procedures such as small cuts, lesser risk of infections, less blood loss and quicker healing period.
Based on product types, the global hernia repair devices market is segmented as mesh material (biologic hernia repair mesh and synthetic hernia repair mesh), hernia fixation devices, endoscopy equipment and others. It is studied that, mesh material was the major revenue contributing segment in 2016, because treatment approach is shifted from autogenous tissue repair therapy to use of biological and synthetic mesh to lower the risk of recurrence. Furthermore, hernia mesh offers various advantages such as to support the hernia repair, lesser risk of recurrence, and minimized recovery time.
Hernia repair devices market is also classified on the basis of hernia type such as inguinal, femoral, incisional, ventral, umbilical and hiatal hernia. It is observed that, inguinal hernia procedures held the largest market share because it is most common form of hernia among the all hernia type; about 75% of hernias are inguinal type hernia.
North America dominated hernia repair devices market in the base 2016, and it is expected that the region will continue dominance over the forecast period. Prime factors such as higher number of target population, wide availability advanced technology for hernia repair and higher cost of hernia repair devices are fueling the growth of hernia repair devices market in North America. On the other hand, Asia Pacific anticipated to grow at fastest rate during the forecast period mainly due to rising incidence of hernia, developing healthcare infrastructure and growing healthcare awareness.
Why was the report written?
This report is the result of an extensive survey drawn from Credence Research’s exclusive panel of leading global market industry executives; it provides data and analysis on buyer investment, acquisition, and developments within the global market research. It includes key topics such as global Sterile Injectables buyer expenditure and procurement behaviors and strategies and recognizes the threats and possibilities within the industry, economic outlook trends, and business confidence within global industry executives. Most secondary research reports are based on general industry drivers and do not understand the industry executives’ attitude and changing behaviors, creating a gap in presenting the business outlook of the industry; in an effort to bridge this gap, Credence Research created this primary research-based report by gathering the opinions of multiple stakeholders in the value chain of the global industry.
What is the current market landscape and what is changing?
Executives from the global industry anticipate an increase in levels of consolidation, with 55% of respondents projecting an increase in merger and acquisition (M&A) activities in 2017.
The report on the market of Hernia Repair Devices contains:
Analysis and forecast of Sterile Injectables market dynamics;
Analysis of domestic production, market shares of the main market players;
Analysis of exports and imports;
Analysis of factors, leading the development of the Sterile Injectables market;
Assessment and forecast of Sterile Injectables market development;
Financial and business profiles of the leading companies in the Sterile Injectables industry.
– Up to date working Sterile Injectables data by major regions in the world, the forecast of planned capacity additions by 2026
– The annual breakdown of capital expenditure spending on proposed Sterile Injectables for the period 2018 to 2026
– Planned Sterile Injectables additions and capital expenditure spending by key countries and companies across the world
– Planned capital expenditure spending on new Sterile Injectables projects by region, key countries, and companies
– Details of major planned Sterile Injectables projects in the world up to 2026
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