Future Market Insights (FMI) has unveiled a comprehensive report forecasting substantial growth in the global hernia mesh devices market. The market, valued at approximately USD 4.6 billion in 2022, is projected to achieve a steady compound annual growth rate (CAGR) of 3.4% over the forecast period, culminating in a market value of USD 6.5 billion by 2032.
The report highlights a significant surge in demand for hernia mesh devices, primarily driven by the prevalence of inguinal hernias. Inguinal hernias, which constitute 80% of all hernia cases worldwide, are a key factor fueling the market’s growth. These hernias are observed to occur ten times more frequently in men than in women, emphasizing the critical need for effective hernia mesh solutions.
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The report’s findings underscore the importance of addressing the rising incidence of inguinal hernias with advanced and reliable hernia mesh devices. As the most common type of hernia, the increased prevalence of inguinal hernias directly contributes to the anticipated revenue growth in the hernia mesh devices market.
With the projected growth, stakeholders in the hernia mesh devices market can expect a promising future, driven by ongoing advancements in medical technology and a growing emphasis on improving patient outcomes. As the market evolves, the demand for innovative hernia mesh devices will continue to rise, paving the way for enhanced treatment options and improved quality of life for patients worldwide.
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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Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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