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Advancements in technology, rising use of meshes in the surgeries, and increasing geriatric population would drive market growth
NEW YORK, NY, UNITED STATES, December 3, 2021 /EINPresswire.com / -- The global hernia mesh market size is expected to reach USD 6.28 Billion in 2028 and register a revenue CAGR of 2.8% over the forecast period, according to a latest report by Reports & Data. A major factor driving market revenue growth is rapid adoption of meshes in the surgeries due to its benefits. Hernia mesh is a medical device which is implanted into the groin, upper stomach, or abdomen of the patient undergoing hernia surgery. Mesh minimizes fibrosis, the chance of nerve entrapment and the formation of seroma.
Ongoing research and development activities, and private investments on health care sector positively affect the market growth over the forecast period. The rising automation trend has been resulting in rapid adoption of robots in the healthcare industry in the field of gynecology, and allows provision of treatment of more complex cases. This factor opens up new and more lucrative opportunities for players operating in the global hernia mesh market.
In addition, rising need for better disease treatment, increase in disposable income and government focus on strengthening healthcare sector are some key factors expected to continue to fuel market growth going ahead.
However, high cost of treatment procedures and unfavorable government medical policies are some major factors restraining global hernia mesh market revenue growth over the forecast period.
Top Companies operating in the market and profiled in the report include:
Covidien, United Surgical, Dolphin Sutures, Transeasy Medical Tech, Baxter International, W.L Gore & Associates Inc., Dipromed Srl, BioCer Entwicklungs, Sutures India Private Limited, and Hitech Equipments Company.
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The pharmaceutical and healthcare industry has undergone tremendous change over the recent years, especially with the emergence of the COVID-19 pandemic. Increasing accessibility of advanced healthcare systems and low-cost technologies coupled with growing demand for over-the-counter medications has further changed the dynamics of the industry. Integration of robust technologies such as AI and blockchain have helped pharmaceutical companies reduce capital expenditure and strengthen the global supply chain. Increasing application of biosimilars, shifting focus to in-silico testing of pharmaceutical products, and rising number of product approvals from regulatory authorities are some key factors driving revenue growth of the market.
Increasing expenditure on R&D, growing focus on implementing robust cybersecurity solutions to ensure better medical device connectivity, and development of advanced telehealth software by key companies operating in the field has further added traction to the revenue growth of the market. The global Hernia Mesh market report discusses the current market scenario with respect to the competitive landscape and offers key insights into the company profiles, product portfolio, production and manufacturing capacity, revenue contribution, and position in the global market. It also provides details on recent mergers & acquisitions, joint ventures, collaboration, and product launches, among others.
Some Key Highlights in the Report:
•The transplantation segment accounted for the largest revenue share in 2020 due to rising demand for transplant products such as tissue products, immunosuppressant, and solutions for organ preservation.
•Hernia type segments include inguinal hernia, incisional hernia, femoral hernia, and others. Among these, the femoral hernia segment accounted for largest revenue share in 2020 due to the wider shape of the female pelvis.
•On the basis of mesh type, the market report is segmented into biological mesh, and synthetic mesh. Among these, the biological mesh segment is expected to register a significantly rapid revenue CAGR during the forecast period.
•On the basis of synthetic structure type, the market report is segmented into absorbable mesh, and non-absorbable mesh. The absorbable mesh segment is expected to register largest revenue share over the forecast period as large pores in the mesh allow faster soft tissue ingrowth, lower foreign body reaction, thus resulting in the formation of a flexible scar.
•On the basis of synthetic product, the market report is segmented into flat mesh, and 3D mesh. Among these, the flat mesh segment is expected to register a significantly rapid revenue CAGR during the forecast period. Surgeons generally use self-gripping flat meshes to avoid fixation stitches and also reduce operative time.
•Revenue from North America hernia mesh market is projected to account for a significantly larger revenue share and dominate other regional markets over the forecast period. This can be attributed to rapid technological advancements and high adoption of surgical meshes as a treatment option.
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Segments covered in the report:
For the purpose of this report, Reports & Data has segmented the global hernia mesh market on the basis of hernia type, mesh type, synthetic structure type, synthetic product type, end-users and region:
Hernia Type Outlook (Revenue, USD Billion; 2020 – 2028)
Mesh Type Outlook (Revenue, USD Billion; 2020 – 2028)
Synthetic Structure Type Outlook (Revenue, USD Billion; 2020 – 2028)
Synthetic Product Type Outlook (Revenue, USD Billion; 2020 – 2028)
End-Users Outlook (Revenue, USD Billion; 2020 – 2028)
•Ambulatory Surgical Centers
The report provides a comprehensive analysis of the market scope, supply chains, distribution channels, trends and demands in each region, revenue generation, market size, and presence of prominent companies in each region. It studies the revenue growth of the market in each region and their key countries based on several factor such as macro- and micro-economic growth factors, regulatory framework and policies, investment and funding opportunities, R&D and technological advancements, and growth prospects.
Key Regions Assessed in the Report:
•North America (U.S., Canada, Mexico)
•Europe (U.K., Germany, Italy, France, Rest of Europe)
•Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
•Latin America (Brazil, Argentina, Rest of Latin America)
•Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
The report further segments the global Hernia Mesh market on the basis of product types and applications and offers details about key factors that are expected to drive revenue growth of each segment and sub-segment.
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