Hernia Repair Devices Market to hit USD 7.4 billion by 2030, says Global Market Insights Inc.

Hernia Repair Devices Industry is anticipated to register 6.2% CAGR between 2022 and 2030 due to increasing number of hernia repair surgical procedures globally.

SELBYVILLE, Del., Aug. 24, 2022 /PRNewswire/ -- The hernia repair devices market value is estimated to surpass USD 7.4 billion by 2030, according to a new research report by Global Market Insights Inc. Increasing geriatric population as a significant factor driving the industry expansion. Clinical studies have found aging people more susceptible to a number of chronic diseases, including hernia.

Lesser post-procedural complexities to drive the demand for fixation devices

Fixation devices segment is set to surpass USD 2 billion by 2030. This is owing to the increased utilization of fixation devices in hernia repair procedures. Fixation devices are specifically designed to optimize visibility during surgical procedures and reduce post-procedural pain and complications. Besides, their cost-effective benefits and ability to deliver easy fixation may foster their demand in the forthcoming years.

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Technological advancements to push the adoption of robotic surgeries

The hernia repair devices market from robotic surgery segment accounted for over USD 99 million in 2021. The segment is expected to depict a 5.2% CAGR through 2030 led by the growing integration of these procedures in surgeries involving abdominal wall reconstruction and small hernia repairs. The involvement of cutting-edge technologies to deliver clear visuals and higher precision, along with lower peri-operative pain in these interventions.

Femoral hernia repair procedures to increase significantly

Femoral hernia is projected to reach USD 250 million by 2030. Femoral hernia is generally examined as a small underlying bulge below the level of the inguinal ligament. Although the given condition is less prevalent, it can lead to complexities like strangulation possessing several health complications and risks. As per NCBI, the disease prevalence increases with advancing age. Thus, the growing elderly population could augment the market forecast.

Browse key industry insights spread across 243 pages with 371 market data tables & 18 figures & charts from the report, "Hernia Repair Devices Market Analysis by Product, Procedure, Hernia Type, End-use, Industry Analysis Report, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2022 - 2030" in detail along with the table of contents:

https://www.gminsights.com/industry-analysis/hernia-repair-devices-market

Increased convenience to aid the growth clinics as a major end-user

Hernia repair devices market from clinics segment is set to exceed USD 1 billion by 2030. Clinical establishments deliver high-quality services and quick assistance that translates into affordable and optimal procedural outcomes. These settings have become a preferred alternative among patients due to ease of treatment, convenience, and the availability of skilled medical staff. An increasing number of hernia repair surgeries across clinics may foster the demand for hernia repair devices in clinical settings.

Aging population to fuel the Europe industry landscape

The Europe hernia repair devices market is expected to reach USD 1.9 billion by 2030. Rising incidences of hernia and sedentary lifestyles are the key factors driving the industry expansion. As per Eurostat, over one-fifth or about 20.8% of the EU population in 2021 was aged 65 years or more. The increasing disease prominence among the elderly populace may drive the regional industry landscape.

Partnerships remains a key growth strategy

Prominent companies leading the hernia repair devices market include B. Braun Melsungen AG, Medtronic, Ethicon (J&J), Becton Dickenson & Company, CooperSurgical (The Cooper Companies), Cook Medical, Integra LifeSciences, Baxter International, Inc., and others. These players have been adopting several growth measures and strategic moves to expand their global footprint while maintaining their dominance in the market.

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About Global Market Insights

Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.

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SOURCE Global Market Insights Inc.