Key Factors Contributing to Hernia Repair Devices Market Growth Include Favorable Reimbursement Policies, 2028

Hernia Repair Devices Industry Overview

The global hernia repair devices market size is expected to reach USD 7.21 billion by 2028, registering a CAGR of 5.65% over the forecast period, according to a new report by Grand View Research, Inc. The market is primarily driven by increasing prevalence of obesity and hernia globally. Being overweight causes the pressure and strain on abdominal muscles and makes them prone to development of the disease. Moreover, technological advancements and several product launches in the field of repair devices are further augmenting the growth.

Factors contributing to the growth include sedentary lifestyle, obesity, large weight loss, poor diet, chronic cough, and pregnancy. Furthermore, favorable reimbursement policies and FDA approvals of various repair devices are encouraging patients to opt for open or laparoscopy surgery. According to NCBI Report, more than 20.0 million hernia repair procedures are performed each year globally. The surgical procedure is an important revenue stream for hospitals, estimated at USD 48.0 billion per year in U.S.

Hernia Repair Devices Market Segmentation

Grand View Research has segmented the global hernia repair devices market on the basis of product type, surgery type, procedure type, and region:

Based on the Product Type Insights, the market is segmented into Hernia Mesh and Hernia Fixation Devices

• The hernia mesh segment dominated the market with a revenue share of 76.1% in 2020 owing to the wide adoption of these devices.
• The hernia fixation devices segment is expected to expand at the fastest CAGR in terms of revenue during the forecast period.

Based on the Surgery Type Insights, the market is segmented into Inguinal Hernia, Umbilical Hernia, Incisional Hernia, Femoral Hernia, and Others

• Inguinal hernia dominated the market with a revenue share of over 65.0% in 2020.
• The incisional hernia segment is expected to expand at the fastest CAGR in terms of revenue during the forecast period.

Based on the Procedure Type Insights, the market is segmented into Open Surgery and Laparoscopic Surgery

• Open surgery dominated the market with a revenue share of 76.3% in 2020 and is expected to maintain its lead throughout the forecast period owing to its benefits such as the low cost of the procedure and fewer post-operative complications.
• Laparoscopic surgery is expected to register the fastest growth rate in terms of revenue over the forecast period as it is widely accepted as a hernia treatment option.

Hernia Repair Devices Regional Outlook

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa (MEA)

Key Companies Profile & Market Share Insights

The market has been characterized by high competition owing to the presence of established players operating in the market. Thus, to maintain a greater market share, many large companies are coexisting with companies that specialize in a particular product line.

Some prominent players in the global Hernia Repair Devices market include:

• B Braun Melsungen AG
• Cook Medical
• Medtronic Plc
• L. Gore & Associates
• Ethicon Inc.
• R Bard Inc
• Atrium
• LifeCell Corporation
• Baxter International
• Herniamesh S.R.L.

Order a free sample PDF of the Hernia Repair Devices Market Intelligence Study, published by Grand View Research.