The global market for hernia repair will expand from $1.8 billion in 2014 to reach $2.4 billion by 2021, representing a moderate compound annual growth rate of 4%. Studies have shown that laparoscopic repair is more expensive than open repair by around $500, which may negatively affect adoption of the technique. Laparoscopy is very technically demanding, and few surgeons are yet completely trained and effective in performing the procedure. However, the benefits of the technique, such as lower incidences of chronic pain and recurrence, and shorter recovery times, mean there will still be strong demand from patients during the forecast period.
GlobalData’s MediPoint: Hernia Repair – Global Analysis and Market Forecasts report provides analysis of the hernia repair space across the 10 major markets of the US, France, Germany, Italy, Spain, the UK, Japan, Brazil, China and India, including market data from 2014 and forecast until 2021.
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