Global Hernia Repair Devices & Consumables Market: Overview 

Hernia is a medical disorder, wherein either an organ or fatty tissue pushes out through a weak spot where it is normally confined. A surgical operation is carried out to treat hernia, and is the most the common procedure performed across the globe. Over 3 million hernia repair procedures are conducted across the world every year. Around 1.2 million hernia repair procedures are carried out in the U.S. every year. The two most common methods for hernia repair include laparoscopic hernia repair surgery and open tension-free repair surgery. These surgeries are conducted with the aid of fixation devices and consumables (mesh-based surgery). 

Global Hernia Repair Devices & Consumables Market: Key Trends 

Factors propelling the global hernia repair devices & consumables market include rise in prevalence of hernia, high rate of adoption of open tension-free repair procedures, technological advancements in consumables such as biological mesh offered by key players, and high demand for robotic surgeries. However, high cost of hernia repair surgeries and unreliable reimbursement policies hamper market growth. Nevertheless, developing regions are expected to provide lucrative opportunities in the market during the forecast period. 

Global Hernia Repair Devices & Consumables Market: Segmentation 

The global hernia repair devices & consumables market can be segmented based on product, type of surgery, type of hernia, and region. In terms of product, the market can be bifurcated into fixation devices and consumables. The fixation devices segment can be divided into tack and others. The tack sub-segment can be classified into absorbable tack and non-absorbable tack. The consumables segment can be categorized into mesh and others. The mesh sub-segment can be split into synthetic mesh and biological mesh. The consumables segment accounted for the largest market share in 2018 and the trend is anticipated to continue during the forecast period.

Based on type of surgery, the global hernia repair devices & consumables market can be bifurcated into open tension-free repair and laparoscopic surgeries. The open tension-free repair segment held the largest market share in 2018. 

Based on hernia type, the global hernia repair devices & consumables market can be classified into incisional hernia, femoral hernia, umbilical hernia, inguinal hernia, and others. The inguinal hernia segment accounted for the largest market share in 2018. 

Global Hernia Repair Devices & Consumables Market: Regional Analysis 

In terms of region, the global hernia repair devices & consumables market can be segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America is projected to capture major market share during the forecast period owing to increase in health care investment by manufacturers and high R&D expenditure by companies for the development of these devices. Moreover, rise in prevalence of hernia fuels the growth of the hernia repair devices & consumables market in the region. However, the market in Asia Pacific is expected to expand at a high CAGR from 2019 to 2027. Large population base, rise in disposable income, and increase in patient awareness about hernia surgical procedures are likely to boost market growth in the region during the forecast period. 

Global Hernia Repair Devices & Consumables Market: Competitive Landscape 

Key players in the global hernia repair devices & consumables market include Cook Medical, Inc., C. R. Bard, B. Braun Melsungen AG, LifeCell Corporation, Herniamesh S. R. L., Ethicon, Inc., W. L. Gore & Associates, Inc., Medtronic plc, Baxter International, Inc., and CooperSurgical, Inc.

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
  • Europe
  • 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.

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