Report ID: SQMIG35D2180
Report ID:
SQMIG35D2180 |
Region:
Global |
Published Date: October, 2024
Pages:
157
|
Tables:
59 |
Figures:
75
Hernia Repair Devices Market Drivers
Growing Reported Cases of Hernia
Treatment for hernias needs medical and surgical intervention. A hernia occurs when an internal organ, or a portion of the organ, exits through a defect in the muscle or tissue wall that surrounds it. Presence of hernia types such as inguinal, femoral are increasing which is in turn rising the end-user demand for these equipment’s and expected to drive global hernia repair devices market growth over the forecast period.
Growing Geriatric Population as They are the Target Consumers
Most patients are over the age of 55 years as the risk of health problems and normal muscle breakdown increase with age. The global hernia repair device market is forecast to observe a positive CAGR during the forecast period. The rising prevalence of hernias can be attributed to the aging population, rapid lifestyle transitions, and high obesity prevalence.
Hernia Repair Devices Market Restraints
Unfavorable Approval Process
Hernia repair device R&D is extremely expensive, and this is expected to hamper the expansion of market. A producer is required to first meet various clinical, as well as regulatory conditions before being able to launch a device into the market for the repair of a hernia. Because the development and approvals timelines are so long, medical equipment manufacturers are stuck having to keep the hernia repair devices covered or extremely expensive.
High Cost of Treatment
Expensive hernia repair treatments and poor reimbursement policies are expected to hamper growth of the hernia repair devices market soon. High cost of hernia repair procedures, alternative availability in the market of non-mesh repair, and additional cost burden associated with hernia repair surgeries may restrain the global hernia repair devices market. This is expected to be challenging for the growth of the hernia repair devices industry.
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Report ID: SQMIG35D2180