Hernia occurs mainly due to bulging or protrusion of small tissues through an opening of muscles in the abdominal wall. Any part of the abdominal wall can be affected by hernia; however, the most common sites are groin (inguinal), previously operated regions and the navel (umbilical).

The global HERNIA REPAIR DEVICES AND CONSUMABLES Market is estimated to account for US$ 6,381.7 Mn in terms of value in 2020 and is expected to reach US$ 10,587.5 Mn by the end of 2027.

Global HERNIA REPAIR DEVICES AND CONSUMABLES Market: Drivers

Approval and launch of new products is expected to propel growth of the global HERNIA REPAIR DEVICES AND CONSUMABLES market over the forecast period. For instance, in June 2019, Ethicon, part of the Johnson & Johnson Medical Devices Companies, received a 510(k) clearance from the FDA for its Vistaseal applicators, which spray a biological sealant to stem moderate bleeding during open or laparoscopic surgical procedures.

Global HERNIA REPAIR DEVICES AND CONSUMABLES Market: Opportunities

Strategic tie-ups with robotic surgery equipment manufacturers is expected to offer lucrative growth opportunities for players in the global HERNIA REPAIR DEVICES AND CONSUMABLES market. Consistent evolution of hernia repair procedures assures market growth as it overcomes the obsolete nature of medical technology and provides ample business opportunities to manufacturers for developing novel technological platforms. Currently, laparoscopic tension-free repair procedures are adopted on a large scale as compared to conventional incisional repair procedures as the former ensure fast recovery, lower chance of infection and reduced post-operative pain. Various technological upgrade that facilitate successful operations focus on developing robust and error-free methodologies to perform these operations, thereby reducing ambiguity. The usage of robotic surgery equipment that enables error-free operations with high clarity is gradually increasing. This rise in usage offers ample business opportunities to develop cutting edge technologies, and thereby enhance the success rates.

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Global HERNIA REPAIR DEVICES AND CONSUMABLES Market: Restraints

Inconsistent reimbursement scenario is expected to hinder growth of the global HERNIA REPAIR DEVICES AND CONSUMABLES market. The reimbursement scenario in the U.S. is well developed as compared to that in Europe primarily due to the economic slowdown in the region that resulted in the reduction of overall healthcare costs. This resulted in a decrease in the scope of reimbursement for hi-tech HERNIA REPAIR DEVICES AND CONSUMABLES. This would negatively affect the growth and uptake of the overall HERNIA REPAIR DEVICES AND CONSUMABLES market in the region.

Key Takeaways:

The global HERNIA REPAIR DEVICES AND CONSUMABLES market was valued at US$ 5,936.4 Mn in 2019 and is forecast to reach a value of US$ 10,587.5 Mn by 2027 at a CAGR of 7.5% between 2020 and 2027. Major factor driving the growth of global HERNIA REPAIR DEVICES AND CONSUMABLES market during the forecast period include technological advancement, and product launches.

Polymer and Prosthetic Mesh held dominant position in the global HERNIA REPAIR DEVICES AND CONSUMABLES market in 2019, accounting for 42.2% share in terms of value, followed by Biologic materials respectively. Product launches in the polymer and prosthetic mesh category is supporting growth of the market.

Market Trends

Increasing technological advancements and product innovations for treating hernia are expected to boost the global HERNIA REPAIR DEVICES AND CONSUMABLES market growth. For instance, in May 2019, according to the American College of Surgeons, surgical researchers developed an online app, where patients and surgeons can use as a guide for preoperative planning, and establish a layout demonstration for how a patient’s ventral hernia repair operation will be carried out.

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Major players in the global HERNIA REPAIR DEVICES AND CONSUMABLES market are focused on adopting M&A strategies to expand their product portfolio. For instance, in September 2018, TransEnterix, a U.S.-based company acquired Medical Surgery Technologies (MST), an Israel-based medical technology company. This acquisition will enhance TransEnterix ‘Senhance digital laparoscopy platform’ by adding the technological advancement of MST AutoLap. AutoLap will show visual images while carrying out surgery.

Global HERNIA REPAIR DEVICES AND CONSUMABLES Market: Competitive Landscape

Major players operating in the global HERNIA REPAIR DEVICES AND CONSUMABLES market include, Johnson & Johnson Services, Inc., Cooper Companies Inc., Lifecell Corporation (Allergan Plc), W. L. Gore & Associates, Inc., Maquet Holding B.V. & Co. KG, Becton, Dickinson and Company, Medtronic Plc, Cook Medical Inc., Baxter International Inc., and B. Braun Melsungen AG.

Global HERNIA REPAIR DEVICES AND CONSUMABLES Market: Key Developments

Major players in the global HERNIA REPAIR DEVICES AND CONSUMABLES market are focused on R&D of new products to expand their product portfolio. For instance, in July 2020, TELA Bio, Inc., a commercial-stage medical technology company, announced the results of an interim analysis from the company's post-market BRAVO study evaluating the clinical performance of OviTex for the treatment of ventral hernias.

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