According to FutureWise analysis the market for hernia repair in 2023 is US$ 4.75 billion, and is expected to reach US$ 6.12 billion by 2031 at a CAGR of 3.22%.
Rising obesity prevalence rates and increasing insistence for novel biological meshes are some factors that are predicted to steer the market over the forecast period. As per the National Center for Health Statistics (NCHS), over 750,000 hernias of the groin were treated in the United States. An inguinal hernia is the most commonly diagnosed type of hernia, with over 2% women and over 25% of men getting at least once in their lifetime. Mesh, that is used in operating hernia, is made of a simple cloth piece prepared from synthetic threads like polyester and polypropylene cause infection, perforation, pain that leads into hernia of the groin.
With a rising demand for novel synthetic, biological meshes is an integral competitive factor and adoption of hernia repair processes that are tension-free are predicted to further steer the hernia repair market growth. Strategic partnerships with robotic surgery equipment manufacturers and rising economic emphasis on adopting composite mesh are some of the lucrative opportunities for the market in upcoming years. Depending on the type of hernia, the market is bifurcated into the femoral hernia, umbilical hernia, inguinal hernia, incisional hernia, and others. The inguinal hernia segment is estimated to dominate the market over the forecast period which is followed by umbilical hernia.
Regionally, the market is fragmented into Europe, Latin America, Middle East and Africa, North America and the Asia-Pacific. North America held the largest global hernia repair market share in 2017 and is predicted to continue this domination throughout the forecast period. On the contrary, the Asia-Pacific region is predicted to proliferate with a high CAGR value over the forecast period due to an increase in disposable incomes, growing awareness among patients regarding hernia surgical processes and increasing population pool.