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Asia Pacific Hernia Repair Devices And Consumables Market Forecast 2021-2028

KEY FINDINGS
The Asia Pacific hernia repair devices and consumables market is anticipated to record a CAGR of 4.16%, over the forecast years of 2021 to 2028. Factors like, the high incidence of hernia, the increasing elderly populace, and the advancements in healthcare infrastructure are accredited to the region's market growth.

MARKET INSIGHTS
The Asia Pacific hernia repair devices and consumables market growth is evaluated by assessing Australia & New Zealand, Thailand, Indonesia, India, Japan, South Korea, Vietnam, China, and the rest of the Asia Pacific. Groin hernia repair is among the most common procedures performed in India, accounting for nearly 300,000 surgeries, annually. Trained and experienced surgeons often opt for open hernia repair surgery, followed by ventral or incisional hernia repair surgery. Likewise, laparoscopic-based hernia repair procedures are largely practiced in the country, owing to its advantages such as, lesser complications, as well as a relatively lower recurrence rate.
On the other hand, India's high geriatric population base is also projected to fuel market demand and growth. For instance, as per the Population Census, 2011, the country harbored at least 104 million elderly individuals, including 51 million males, and 53 million females. Similarly, according to the report by the United Nations Population Fund, and HelpAge India, this number is anticipated to increase to 173 million by 2026. Hence, as mentioned above, these factors are expected to augment the market growth during the forecast years.

COMPETITIVE INSIGHTS
Some of the prominent players in the market include, Medtronic Inc, Johnson & Johnson (Ethicon Inc), Allergan PLC (acquired by Abbvie), Baxter International Inc, Cook Medical Inc, etc.

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Asia Pacific Hernia Repair Devices And Consumables Market Forecast 2021-2028
Published By :Inkwood Research
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