Global Hernia Repair Devices and Consumables Market | Growth

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The Global Hernia Repair Devices and Consumables
Market to Progress at CAGR of 3.80 by 2028
Triton Market Research presents the Global Hernia
Devices and Consumables Market segmented by
Surgery Type (Laparoscopic Surgery, Open
Tension-Free Repair Surgery), Hernia Type
(Umbilical Hernia, Inguinal Hernia, Femoral
Hernia, Incisional Hernia, Other Hernia),
Component (Fixation Devices Tack (Non-Absorbable
Tack, Absorbable Tack), Other Fixation Devices,
Consumables Biological Material Mesh, Synthetic
Material Mesh Non-Absorbable Mesh, Absorbable
Mesh), and by Geography (Asia-Pacific, Middle
East and Africa, North America, Latin America,
Europe). It further discusses the Market Summary
Industry Outlook Porter's Five Forces Model
Impact of COVID-19 Legal, Policy, Regulatory
Framework Market Attractiveness Index Key
Insights Drivers Restraints Opportunities
Company Profiles Research Methodology Scope
Global Market Size Forecasts Analysis
(2021-2028).
GLOBAL HERNIA REPAIR DEVICES AND CONSUMABLES
MARKET 2021-2028
CAGR 3.80
The regional paradigm of HERNIA REPAIR DEVICES
AND CONSUMABLES MARKET was dominated by North
America by capturing a majority of revenue share.
On the other hand. Asia Pacific is anticipated to
be the fastest growing regional market over the
forecast period. www. triton marketresearch .com
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Triton's report intimates that the global market
for hernia devices and consumables is probable to
showcase growth at a CAGR of 3.80 during the
reviewed phase of 2021-2028. A hernia is a
disease type where the inner layers of abdominal
muscles turn relatively weaker, and the abdomen
lining bulges out to form a small sac-like
structure. Here, a hernia treatment includes
surgeries performed using mesh, formed of
biological or synthetic material using fixation
devices. The rise in the strategic collaborations
among robotic surgical equipment manufacturers is
opening several new opportunities for the market
to leverage to reach its expected growth.
Globally, robotic surgeries have gained
significant traction over the last few years.
This is primarily owing to the high accuracy,
surged consistency, and low possibilities of
errors. Here, robotic assistance provides
enhanced outcomes, particularly in repair
procedures of inguinal hernia. However, the high
cost of hernia repair surgeries is among the
major factors negatively impacting the studied
market's progress. North America holds the
largest market share in the hernia repair devices
and consumables market, and is anticipated to
continue its stronghold over the forecast period
2021-2028. In the region, the surge in the
occurrence of hernia conditions, along with the
enhanced healthcare facilities, are stimulating
the progress of the studied market. Additionally,
the supportive government measures and growing
awareness relating to hernia surgeries, are
another set of factors contributing to the growth
of the hernia repair devices and consumables
market. The key companies engaged in the given
market consist of The Cooper Companies Inc, B
Braun Melsungen AG, Cook Medical Inc, CR Bard
Inc, Medtronic Plc, Baxter International Inc,
Herniamesh SRL, Cryolife Inc, Allergan Plc,
Integra Lifesciences Corporation, Johnson and
Johnson (Ethicon Inc), Zimmer Biomet Inc, Via
Surgical Ltd, and WL Gore Associates. The low
capital investment, high volume demand, low
product differentiation, and incorporation of
low-cost technology, enable the entry of several
new players, leading to the high threat of new
market players. On the other hand, the
competition among the existing market players is
relatively high, owing to low product
differentiation. Additionally, the exit barriers
are low, with new players entering the market,
which significantly increases the competition
among the current players in the hernia repair
devices and consumables market over the estimated
period.
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