Future Market Insights (FMI) has released a comprehensive report forecasting significant growth in the global hernia mesh devices market. Valued at approximately USD 4.6 Billion in 2022, the market is projected to witness a steady growth rate of 3.4% over the forecast period, reaching a value of USD 6.5 Billion by 2032.
The findings of the report indicate a notable surge in the demand for hernia mesh devices, driven primarily by the prevalence of inguinal hernias, which continue to account for 80% of all hernia cases worldwide. Inguinal hernias, the most common type, are observed to occur 10 times more frequently in men than in women. This underscores the substantial revenue growth expected in the hernia mesh devices market.
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North America will see continued revenue growth in Hernia Mesh Market throughout the Analysis Period
North America is expected to grow at a CAGR of 3.4% over the next decade. In North America, reimbursement for hernia mesh is favourable, which encourages patients to undergo laparoscopic surgery. Patients can easily obtain comprehensive payment codes and ratios that governments and industry stakeholders have made public. Furthermore, technological advances, as well as the development and adoption of new products such as TELA Bio, are propelling the entire market forward in terms of revenue.
“Despite the 90% dominance of synthetic mesh in the Hernia Mesh device market, the biological mesh-based hernia devices can reap significant market revenue in the forthcoming years” comments an analyst at Future Market Insights.
Key Takeaways: Hernia Mesh Devices Market from 2022 to 2032
- The global hernia mesh devices market was valued at USD 4.6 billion in 2022 and is expected to reach USD 6.5 billion by 2032, reflecting a Compound Annual Growth Rate (CAGR) of 3.4%.
- Inguinal hernias are projected to remain the most common type, accounting for roughly 80% of all hernia procedures.
- The United States is anticipated to hold the largest market share, exceeding 34% by 2032. This makes it a prime target market for hernia mesh device manufacturers, particularly those specializing in synthetic mesh.
- Synthetic mesh devices are expected to see strong growth within the US market.
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Hernia Mesh Devices Market: Competition Insights
Most of the key players in hernia mesh devices market have been focusing on obtaining approvals from regulatory authorities. The key companies operating in the Hernia Mesh Devices market include Medtronic plc, Ethicon, and W. L. Gore and Associates, Inc., Atrium Medical Technologies, B. Braun Melsungen AG, PRIMEQUAL SA, Becton, Dickinson, and Company, Deep Blue Medical Inc., Dipromed Srl, BioCer Entwicklungs-GmbH, Betatech Medical, Sinolinks Medical Innovation, Inc, Aspide Medical S.A.S., Meril Life Sciences Pvt. Ltd., Herniamesh Srl., Changzhou Medical Equipment General Factory Co., Ltd, Gem Srl, SAMYANG HOLDING CORPORATION, Katsan Katgut Sanayi Ve Ticaret Anonim Sirketi, Novus Scientific AB.
The key recent developments of Hernia Mesh Devices manufacturers are as follows:
- Novus Scientific AB received FDA approval in March 2020 for TIGR Matrix Surgical Mesh, which is indicated for use in procedures involving soft tissue repairs, such as hernia repair or other soft tissue-related defects.
- Becton, Dickinson, and Company received FDA clearance in July 2020 for 3DMax MID Anatomical Mesh, which is indicated for use in soft tissue reinforcement and inguinal hernia repair.
- Deep Blue Medical Inc. received FDA approval to begin selling its new hernia mesh product in August 2020. Because of the product’s promising sales prospects, the company recently announced that investors have invested USD 3.4 million in the company.
Key Segments:
Key Segments Covered in Hernia Mesh Devices Market Survey
Hernia Mesh Devices Market by Mesh Type:
- Biological Mesh
- Synthetic Mesh
Hernia Mesh Devices Market by Hernia Type:
- Inguinal Hernia
- Incisional Hernia
- Femoral Hernia
- Others
Hernia Mesh Devices Market by Region:
- North America Hernia Mesh Devices Market
- Latin America Hernia Mesh Devices Market
- Europe Hernia Mesh Devices Market
- South Asia Hernia Mesh Devices Market
- East Asia Hernia Mesh Devices Market
- Oceania Hernia Mesh Devices Market
- Middle East & Africa Hernia Mesh Devices Market
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