Global Hernia Repair Market is valued at USD 176.9 billion in 2016 is anticipated to grow USD 198.7 billion with the compounded annual growth of 1.3% over the forecast period 2017-2025.
New York 4 July 2018, as per the new research study conducted by Bizwit Research & Consulting, Global Hernia Repair industry is poised to raise USD 198.7 billion by 2025. Some key components for the market development will be; Smoking, poor nutrition, genetic factors, and changes in lifestyle to the elevated incidence of hernias. Persistent coughing due to smoking is one of the key causes of this condition, thus smokers are 4 times more susceptible to this disease.
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The industry seems to be fairly competitive. Some of the leading market players include Medtronic PLC., ethicon INC., C.R.Bard INC., Atrium, W.L.Gore & Associates, Lifecell corporation, and so on. Other market players discussed in the report include Braun Melsungen AG., Baxter international INC., Cook medical. New product launches, acquisitions, and mergers are some of the strategies adopted by the key manufacturers. Additionally, the fierce competitiveness has made these players spend in product developments to improve the customer’s requirements.
Key findings of the study:
- The Asia Pacific region accounted for the largest market share, more than XX% of the total market in 2016.
- The Asia Pacific region will be the highest growing segment with respect to geographical segmentation by around XX%
- High cost of meshes, long waiting times, and the development of non-mesh repair approaches are restraining the growth of this market.
Bizwit Research & Consulting LLP has considered the following segments for the study:
By Hernia type:
- An inguinal hernia
- An incisional hernia
- A femoral hernia
By Mesh type:
- Biologic mesh
- Synthetic mesh
- North America
- Asia Pacific
- Latin America
- Rest of the World