Hernia is a medical condition where an organ or fatty tissue protrudes out via a weak point. Hernia repair is a surgical procedure performed for the management of a hernia. Laparoscopic repair surgery and open tension-free repair surgery are the major methods for hernia repair. The global hernia repair market is growing at significant rate, due to mounting occurrence hernia, expanding geriatric population and technological improvement. Different products contributed to the hernia repair market size. The market has witnessed high demand for mesh in the coming years due to higher cost of meshes contrasted to mesh fixators.
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Elevated price of mesh repair, lack of skilled professionals, accessibility of less massive approaches and lengthy waiting period in developed countries are the major challenges for the growth of hernia repair market. In addition, complications related to hernia repair are also hindering the growth of the hernia repair market. For instance, according to FDA, pain, infection, hernia recurrence, adhesion, obstruction, bleeding, and a hole in neighboring tissues or organs are the complications related to hernia repair.
Globally, the manufacturing companies trying to enter the hernia repair market are required to maintain stringent regulatory standards. Moreover, the high level of capital requirement also poses a major barrier for the entry of new players. This offers an edge to the established players in the industry competition.
Geographically, North America is the largest hernia repair market as in the region the acceptance of hernia repair is increasing. In addition, expanding geriatric population, presence of large pool of hernia patients, mounting healthcare expenditure, technological improvement, and efficient and favorable healthcare system are also up surging growth of the North American hernia repair market. For instance, according to the U.S. Census Bureau, in 2012 approximately 43.1 million people were aged 65 years and older in the U.S. and is expected to reach 83.7 million in 2050.
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Asia-Pacific is observed to witness fastest growth in the market, due to expanding geriatric population. In addition, mounting medical tourism, improving healthcare infrastructure and mounting healthcare expenditure are also creating a positive impact on the hernia repair market growth in the region.
Key players in the hernia repair market are catering the demand of these devices by investing on technologically advanced products in their product portfolio across the globe. In May 2017, Integra LifeSciences Holdings Corporation launched SurgiMend MP a tissue-building solutions for complex abdominal hernia repair.
In addition, in April 2017, Becton, Dickinson and Company acquired Bard, to provide innovative healthcare solutions and to improve its product portfolio. B. Braun Melsungen AG, Becton, Dickinson and Company, Getinge AB, Johnson & Johnson, Cook Group Inc., Medtronic PLC., Integra Lifesciences Holdings Corporation, W. L. Gore & Associates, Via Surgical and Herniamesh are the key players offering repair products.
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