DUBLIN--(BUSINESS WIRE)--Research and Markets has announced the addition of the "MediPoint: Hernia Repair - Global Analysis and Market Forecasts" report to their offering.
Dominant India to Claim 37% of Global Hernia Repair Market by 2019
The global hernia repair market to grow at a modest CAGR of 2% between 2012 and 2019, with total revenue climbing from $1.8 billion to $2.1 billion.
Already in possession of the world's most valuable hernia repair sector, India is set to claim an even greater market share with impressive revenue growth in the near future, states the latest report from research and consulting firm The authors.
According to the company's latest healthcare publication*, India's hernia repair market value will climb from a 2012 value of $588m to $789m in 2019, increasing at a Compound Annual Growth Rate (CAGR) of 4.3%.
Only the UK market is expected to grow at a faster rate (CAGR: 5.2%), and the increase will see India's share of the global hernia repair market expand from 30% to 37% over the seven-year period.
The US is expected to remain the second largest for hernia repair procedures by the end of the forecast period, but while sales are predicted to grow by approximately $21m, The authors anticipates market share to drop from 24% to 21% in 2019, due to the stronger growth of other international markets.
There are a number of drivers spurring the growth of the hernia repair market in India .The first is the growth in population which will see an increase of over 100 million to 1.3 billion in 2019. The second is the increased adoption of the laparoscopic procedure and the subsequent utilization of meshes that are specifically designed for the technique.
Composite meshes that can be placed intraperitoneally are the standard of care for incisional hernia repair performed laparoscopically. As the percentage of repairs performed via this method increases by almost 25% over the forecast period, the utilization of this much more expensive mesh type will significantly drive the country's market value.
By 2019, this portion of the market is expected to reach a value of $394m, overtaking the currently dominant inguinal hernia procedures market, which is forecast to hit $326m in the same year.
Key Topics Covered:
1 Tables & Figures
3 Disease Overview
4 Competitive Assessment
5 Unmet Needs
6 Pipeline Products
7 Industry Overview
8 Current and Future Players
9 Market Drivers, Opportunities, and Barriers
10 Country Outlooks & Forecasts
- Agency for Medical Innovation (AMI)
- Aspide Medical
- Assut Europe
- Atrium Medical
- B. Braun Surgical
- Cook Medical
- Cousin Biotech
- C. R. Bard
- FEG Textiltechnik mbH
- Proxy Biomedical
- TEI Biosciences
- W. L. Gore & Associates
For more information visit http://www.researchandmarkets.com/research/4x6k8s/medipoint_hernia