The Hernia Mesh Devices Market Size is expected to be worth approximately US$ 4.6 billion in 2022. The market is predicted to be valued about US$ 6.5 billion between 2022 and 2032, with a projected CAGR of 3.4% over the following 10 years. While the global incidence of hernias has increased, manufacturers of hernia mesh devices are also investing to make the product more cost-effective.
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Synthetic Hernia Mesh will be the Most used Mesh for Surgery throughout the Analysis Period
Synthetic mesh devices are utilised in 90% of hernia procedures, according to the FDA. The key reasons for synthetic mesh’s market domination are its robust supply chain, availability of raw resources, and cheaper cost. In China, the number of hernia procedures surpassed one million in 2015 and is growing at a rate of 20-30% every year. China’s hernia mesh device revenue is estimated to reach US$ 431.1 million by 2032.
North America will see continued revenue growth in Hernia Mesh Market throughout the Analysis Period
Over the next decade, North America is predicted to increase at a CAGR of 3.4%. In North America, hernia mesh reimbursement is favourable, encouraging patients to undergo laparoscopic surgery. Patients can readily receive detailed payment codes and ratios that have been made public by governments and industry parties. Furthermore, technical advancements, as well as the creation and adoption of new products like TELA Bio, are moving the whole industry 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.
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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 US$ 3.4 million in the company.
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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
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