The significantly large market share represented by ventral hernia repair devices is due to a generally high ASP.
Vancouver, BC (PRWEB) March 30, 2015
According to a recently published report by iData Research (http://www.idataresearch.com), the hernia repair market will continue to dominate the European soft tissue reinforcement and regeneration market. Growth is occurring primarily due to increasing numbers of ventral hernias, and the adoption of expensive biologics to treat them.
“The significantly large market share represented by ventral hernia repair devices is due to a generally high ASP. We’re seeing a growing use of expensive biologics,” explains Dr. Kamran Zamanian, CEO of iData. “These biologic devices are considerably more expensive than their synthetic counterparts. A ventral hernia is fairly large and requires more material to treat than an inguinal hernia. This coupled with high prices results in a high market value.”
The market has been growing alongside increases in the general incidence of hernias throughout Europe. However, although ventral hernia repair represents the majority of the total hernia repair market’s value, inguinal hernia procedures more than double ventral hernia procedures.
Other key findings from the 2015 edition of the iData Research report entitled European Markets for Soft Tissue Reinforcement and Regeneration:
Increased Need for Hernia Repair
The rising population of elderly and obese individuals will contribute to continuous increases in the number of hernia repair procedures performed. This, in turn, will lead to demand for all types of hernia repair devices.
New Resorbable Technologies
To compensate for some of the previously seen complications with synthetics, newer composite, pre-shaped and resorbable synthetics have started to become popular. These devices offer improved durability and a reduced chance of graft rejection. However, they involve a significantly higher price than traditional non-coated synthetics, further driving growth in the value of the hernia repair market.
Covidien is the current leader of the European hernia repair market. The company’s product line includes biologic matrices and synthetic meshes. Ethicon, a leading competitor in the hernia repair market, is competing primarily in synthetics and plays a minor role in biologics.
Other notable competitors in the European soft tissue reinforcement and regeneration market include C. R. Bard, Systagenix, LifeCell, Cook Medical, Tutogen, Medskin Solutions, amongst many others. The full iData report includes market share analysis for more than 20 companies across 7 distinct market segments.
For Further Information
More on the markets for hernia repair in Europe can be found in the 2015 edition report published by iData entitled European Markets for Soft Tissue Reinforcement and Regeneration. This report series covers Austria, Belgium, Denmark, Finland, France, Germany, Italy, Luxembourg, Netherlands, Norway, Portugal, Spain, Sweden, Switzerland, and the United Kingdom. It includes sub-segments by country, and detailed market and unit share analysis.
The iData series on the market for soft tissue reinforcement and regeneration devices covers both the U.S. and Europe. Full reports provide a comprehensive analysis including units sold, procedure numbers, market value, forecasts, as well as detailed competitive market shares and analysis of major players’ success strategies in each market and segment.
Register online or email us at info(at)idataresearch(dot)net for a Europe Soft Tissue Reinforcement and Regeneration Market report brochure and synopsis.
About Procedure Tracker
Procedure number data is available from iData’s Procedure Tracker service, which allows subscribers to define and analyze procedure data segmented by country, region, hospital, surgery centre, and physician. A customizable dashboard sorts procedure data for further analysis and research.
About iData Research
iData Research (http://www.idataresearch.com) is an international market research and consulting group focused on providing market intelligence for medical device and pharmaceutical companies. iData covers research in: Diabetes Drugs, Diabetes Devices, Pharmaceuticals, Anesthesiology, Wound Management, Orthopedics, Cardiovascular, Ophthalmics, Endoscopy, Gynecology, Urology and more.