The increasing number of hernia repair procedures, advantages of mesh in hernia repair, are the major factors driving the hernia repair market. In addition, emerging markets are expected to emerge as potential areas of opportunity for players in this market.
The Global hernia repair market is projected to reach USD 4.75 Billion by 2023, at a CAGR of 3.0%
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Hernia Repair Devices Market
Geographical Analysis forHernia Repair Devices Market:
The global hernia repair market is segmented into four major regions, namely, North America, Europe, the Asia Pacific, and the Rest of the World (RoW).
North America was the largest market for hernia mesh devices. The large share of North America in this market can be attributed to the strong demand for and adoption of hernia repair in the US. The adoption of hernia mesh devices, particularly biologic mesh devices, is the highest in the US. As these devices are priced at a premium, their high demand is resulting in large revenue generation for companies operating in the US.
In addition, the majority of prominent market players operate in the North American market owing to which the access to new and advanced hernia repair is high in this regional market. Also, other factors such as the presence of a large pool of hernia patients and an efficient and favorable healthcare system are supporting the growth of the hernia repair market in North America.
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Major Players in the hernia repair market
Covidien (Part of Medtronic) (Ireland), Ethicon (Part of Johnson & Johnson) (US), B. Braun (Germany), C.R. Bard (Part of Becton Dickinson) (US), W. L. Gore (US), LifeCell (Part of Allergan) (Ireland), Maquet (Part of Getinge) (Sweden), Cook Medical (US), Integra (US), DIPROMED (Italy), FEG (Germany), Cousin Biotech (France), Herniamesh (Italy), Aspide Medical (France), TransEasy Medical (China), and Via Surgical (Israel).
Detailed Profile of one of the major key player ( Hernia Repair Devices Market ):
Medtronic (Ireland): is a multinational medical technology company that manufactures and markets products for alleviating pain and restoring health. The company’s products are used by hospitals, clinics, third-party healthcare providers, distributors, and other institutions (including governmental healthcare programs and group purchasing organizations).
The company has a strong presence in the US market and is expanding its reach in emerging markets. For instance, in 2016, the company opened its regional headquarters in Singapore to improve its market presence in the Asia Pacific market.
Medtronic offers hernia repair market products through its subsidiary Covidien. The acquisition of Covidien in January 2015 supported Medtronic in accelerating its therapy innovation, globalization, and economic value.
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