Global Hernia Repair Devices Market is Expected to Reach USD5.9 Billion in 2019: Transparency Market Research
Albany, New York, USA (PRWEB) December 24, 2013 -- According to a new market report published by Transparency Market Research "Hernia Repair Devices Market (Polymer and Prosthetic Mesh, Biologic Materials, Surgical Instruments and Endoscopy Equipments)- Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 - 2019," the global hernia repair devices market was valued at USD 3,578.21 million in 2012 and is estimated to reach a market worth USD 5,936.43 million in 2019at a CAGR of 7.5% from 2013 to 2019.
Browse the full report with complete TOC at http://www.transparencymarketresearch.com/hernia-repair-devices.html.
Hernia is one of the major health concerns worldwide. Occurrence of hernia is characterized by the protrusion or bulging of internal organ or tissues through weak muscle areas and is classified on the basis of its anatomical location of occurrence. The different types of hernia include inguinal (inner groin), umbilical (belly button), hiatal (upper stomach), femoral (outer groin) and incisional hernia. Of these inguinal hernia is the most common type of hernia accounting for around 80% of the total hernia cases worldwide. This occurs most commonly in men majorly due to the observed weakness in this area. The exact cause of hernia is unknown but the most prominent risk factors which contribute in the development of hernia are old age and obesity. These factors feature weakened muscles and pressure in the abdomen. Other factors contributing towards development of hernia are poor nutrition, smoking, change in lifestyle habits, and family history.
Escalation in hernia prevalence directly influences the need and demand for hernia repair devices globally.Consistent rise in geriatric population, increasing adoption of tension-free hernia repair procedures, rise in preference for technologically advanced biologic mesh and consistent elevation in obesity epidemic are some of the major factors positively impacting the growth and acceptance of hernia repair devices globally. However, inconsistent reimbursement policies coupled with high costs involved in the development of effective hernia repair devices are expected to hamper the growth and development of hernia repair devices market.
Hernia repair devices market can be segmented based on the type of product and equipment and procedure. The products and equipment are further categorized into polymer and prosthetic mesh, biologic materials, surgical instruments and endoscopy equipment. Manufacturers are focusing on developing innovative and novel hernia repair products and equipment. The market for biologic materials is expected to grow faster compared to polymer or prosthetic mesh system as they render more advantages over the latter such as high flexibility, strength, less chances of rejection and infection. At present there has been increased adoption of biologic mesh and biologic allograft mesh systems which aid in fast recovery and negligible post-operative pain.
Continuous technological upgradation in developing endoscopes will further support growth and development of hernia repair devices. The rationale behind this is that these hi-tech endoscopes assure high reliability and accuracy of the surgical procedure with the minimum possibility of errors. Hence, with the perennial need for high performance oriented medical devices, the need and demand for effective hernia repair devices also increased.
Surgical procedure is the best option to deal with hernia as it provides long term results as compared to watchful waiting process for reverting hernia with the aid of certain medications. Tension repair and tension-free repair procedures are the two main approaches employed for hernia repair. Tension-free procedures are more advantageous than tension repair methods as they provide fast recovery and negligible post-operative pain. Currently, there has been an increased preference for tension-free repair procedures such as laparoscopic tension-free and tension-free mesh technique majorly due to its minimal invasive nature followed by less susceptibility to infection compared to conventional incisional repair procedures. Owing to aforesaid factors, tension-free repair procedures are anticipated to record a steady growth rate during the forecast period from 2013 to 2019.
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At the regional level, North America was the largest market in 2012 for hernia repair devices market followed by the European Region. Asia-Pacific region is expected to grow at a highest CAGR of over 8% from 2013 to 2019. This is majorly due to large and expanding population base, increased participation of the respective governments in healthcare sector and rising disposable incomes of the population. In addition, high prevalence of hernia in low or middle income countries compared to high income countries due to undiagnosed and untreated hernia cases will further propel growth and development of hernia repair devices market.
The hernia repair devices market is characterized by the presence of well-established as well as new players solely operating in this market. The major companies competing in this market are Covidien Plc, Ethicon, Inc., C.R.Bard, Inc., Cook Medical, Inc. and Stryker Corporation.
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Sheela AK, Transparency Market Research, http://www.transparencymarketresearch.com, +1 518-618-1030, [email protected]
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