Medtronic (Ireland) and Johnson & Johnson (US) are the Major Players in the Hernia Repair Market
The global hernia repair market is projected to reach USD 4.75 Billion by 2023 from USD 4.09 Billion in 2018, at a CAGR of 3.0%. The increasing number of hernia repair procedures, advantages of mesh in hernia repair, and technological advancements are the major factors driving the hernia repair market. In addition, emerging markets are expected to emerge as potential areas of opportunity for players in this market.
The major players in the hernia repair market 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).
The company has a strong presence in the US market and is expanding its reach in emerging markets. For instance, in 2016, the company opened its regional headquarters in Singapore to improve its market presence in the Asia Pacific market.
Medtronic offers hernia repair products through its subsidiary Covidien. The acquisition of Covidien in January 2015 supported Medtronic in accelerating its therapy innovation, globalization, and economic value.
Covidien offers synthetic monofilament meshes, composite meshes, and biologic meshes. The company also offers tack applicators for mesh fixation. Medtronic was the first company to launch a mesh fixation tack under the brand name-ProTack.
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 meshes, including absorbable lightweight, soft polypropylene, polypropylene, and woven meshes; tissue separating meshes, including flexible composite meshes, surgical meshes, 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 a strong focus on R&D & product launches are the major strengths of Johnson & Johnson. The company has a strong presence in the global medical devices market, and is one of the largest biotech and consumer healthcare company worldwide.
Like J&J, Ethicon also has a diverse product portfolio, and more than 600 general surgical products of the company are listed in the US FDA. Most of these products have patent exclusivity in the US beyond 2020, which will help the company gain market dominance and ensure sustained revenue. Ethicon harnesses J&J’s worldwide infrastructure to sell its products. Ethicon also benefits from synergies with its parent company in R&D, technological know-how, business strategies, and project implementation experience.
Related Reports:
Hernia Repair Market by Product (Mesh (Synthetic, Biologic), Mesh Fixation (Suture, Tack and Glue Applicator)), Surgery Type (Inguinal, Incisional/Ventral, Umbilical, Femoral), and Geography (America, Europe, Asia Pacific) - Forecast to 2023
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