Major Growth Boosting Factors:
The increasing adoption of mesh in hernia repair surgeries, rising geriatric population, new product developments, and efficient reimbursement system in developed countries are the major factors driving the growth of the hernia mesh repair surgery market during the forecast period.
Expected Revenue Surge in Near Future:
The laparoscopic surgery market is projected to reach USD 3.53 Billion by 2022 from USD 3.18 Billion in 2017, at a CAGR of 2.1% during the forecast period.
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In this report, the laparoscopic surgery market has been segmented on the basis of type of surgery and type of mesh fixator. On the basis of type of surgery, the market is categorized into open hernia repair surgery and laparoscopic hernia repair surgery. By type of mesh fixator, the market is classified into tack applicators and glue applicators.
Stakeholders of the Industry:
# Manufacturers of hernia mesh and mesh fixators
# Raw material suppliers
# Market research and consulting firms
# Regulatory bodies
# Venture capitalists
In 2017, the open hernia repair surgery segment accounted for the largest share of the Laparoscopic repair surgery market in 2017. Open hernia repair does not require any advanced equipment and takes 25% lesser time than laparoscopy. This makes open hernia repair more cost effective.
Moreover, this type of surgery is preferred for hernias that have been present for a long period of time. However, the laparoscopic hernia repair surgery segment is expected to register the highest growth rate during the forecast period, owing to factors such as less postoperative pain, less chances of wound infection, and early recovery.
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The major players in the Laparoscopic repair surgery market profiled in this report are Medtronic (Ireland), Johnson & Johnson (US), B. Braun (Germany), C. R. Bard (US), and W.L. Gore (US).
Medtronic (Ireland): Medtronic is a multinational medical technology company that manufactures and markets products for alleviating pain and restoring health. The company’s products are used by hospitals, clinics, third-party healthcare providers, distributors, and other institutions (including governmental healthcare programs and group purchasing organizations).
Johnson & Johnson (US): Johnson & Johnson offers hernia repair products through its subsidiary Ethicon. The hernia repair and fixation segment offers absorbable strap fixation devices; open absorbable strap fixation devices; polypropylene hernia systems and plugs; hernia mesh, including absorbable lightweight mesh, soft polypropylene mesh, polypropylene mesh, and woven mesh; tissue separating mesh, including flexible composite mesh, surgical mesh, ventral patches, and open flexible composite mesh devices; and biologic mesh, including tissue matrix and acellular hydrated dermis.
The presence of the company in diverse healthcare segments and strong focus on R&D and product launches are the major strengths of Johnson & Johnson. The company has a strong presence in the global medical devices market, and is the sixth largest biotech and consumer healthcare company worldwide.