Hernia is one of the most common conditions affecting a large population across the world. It has been constantly seeking attention of surgeons, health care providers, and manufacturers of the repair devices for hernia. Increasing incidence rates of hernia has led to establishment of various organizations and societies for the better understanding of the condition and regulating the repair procedures. Hernia is characterized by a protrusion of organs through a weakened section of the abdominal wall. There are various types of hernia depending upon the site affected. The most common types of hernia are inguinal hernia (inner groin), umbilical hernia (belly button), hiatal hernia, and incisional hernia occurring due to an incision. Hernia prostheses is referred as repairing of the hernia, usually with the help of a surgical procedure and use of meshes. The meshes used for hernia prostheses are of different types depending upon the composition, material used, and other physical properties such as tensile strength, weight, stiffness, elasticity, and other parameters.
The global hernia prostheses market has been segmented based on type of hernia, material, type of mesh, and end-user. In terms of type of hernia, the market has been segmented into inguinal hernia, femoral hernia, umbilical hernia, hiatal hernia, and incisional hernia. The inguinal hernia segment dominated the global hernia prostheses market in 2015 driven by increasing incidence rates of inguinal hernias because of changing lifestyles especially in the developed countries. Based on material, the market has been categorized into polyester, polypropylene, and polytetrafluoroethylene (PTFE). In terms of type of mesh, the market has been segmented into synthetic and biological. The synthetic mesh segment dominated the global hernia prostheses market in 2015 led by increasing demand for synthetic meshes, technological advances in the meshes, and new products introduced in the market. However, reports of surgical complications during the use of synthetic meshes along with mesh rejection resulting into reoccurrence of the condition are expected to restrain the synthetic mesh segment during the forecast period. Increasing adoption of biological mesh along with reduced complications and mesh rejections are likely to drive the segment during the forecast period. Based on end-user, the market has been categorized into hospitals, specialty clinics, ambulatory surgery centers, and others. The hospitals segment is expected to dominate the global hernia prostheses market during the forecast period owing to increasing adoption of new techniques, provision of better health care facilities, and ease of access to hospitals. However, increasing cases of emergency treatments related to hernia, especially in the western regions, is expected to drive the ambulatory surgery centers segment during the forecast period.
In terms of region, the global hernia prostheses market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America dominated the global hernia prostheses market in 2015 owing to increasing incidence of inguinal hernia, high demand for meshes, better reimbursements for hernia prostheses, and availability of advanced health care facilities in the region. According to the National Center for Biotechnology Information (NCBI) statistics, inguinal hernia affected an estimated 15 persons per 1000 in the U.S. in 2014, while the global incidence is estimated to be around 27% men, and 3% women. The market in Asia Pacific is expected to register a higher CAGR during the forecast period driven by high incidence of inguinal and umbilical hernia in countries such as China and India, and increasing geriatric population, changing lifestyles, and rising penetration of the major market players in the region.
Major players in the global hernia prostheses market include Covidien plc, C. R. Bard, Ethicon, Inc., Cook Medical, Inc., Stryker Corporation, B. Braun Melsungen AG, Life Cell Corporation, and W.L. Gore & Associates.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.