Surgical Polypropylene Mesh Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

The Surgical Polypropylene Mesh market studied is anticipated to grow with a CAGR of nearly 4.4%, during the forecast period.

- Certain factors that are driving the market growth include increasing number of surgeries and rising healthcare expenditure and technological advancements and existing advantages.

- The growing burden of diseases and innovative medical treatments account for nearly two-thirds of the rise in spending. Spending on healthcare, in countries, such as China and India, is expected to increase during the forecast period. According to a report by the World Economic Forum, it is estimated that one-third of all global health expenditure will be incurred by emerging economies, by 2022. Certain investments in the healthcare sector offer attractive long-term financial benefits. Medical care is one such area in which individuals tend to increase spending as incomes grow. The healthcare industry in the emerging markets has been growing rapidly in BRICS (Brazil, Russia, India, China, and South Africa). In 2014, the healthcare market, in BRIC countries, capitalized at more than USD 850 billion, at a compound rate of 9.1%, which is significantly greater than the aggregate GDP growth rate of those countries. Such factors potentially drive the demand for Surgical Polypropylene Mesh adoption, across the world.

Key Market Trends

Ambulatory Surgical Centers Shows Lucrative Opportunity in the Global Surgical Polypropylene Mesh Market

Ambulatory care or outpatient care is medical care that is provided on an outpatient basis. The prevalence of chronic diseases is increasing across the world, due to the rapidly aging population and greater longevity of people with chronic conditions, eventually leading to a tremendous pressure on the healthcare system all across the world. Since, surgery addresses a broad spectrum of conditions which incur large social, economic, and health burdens, hence it is an indivisible and indispensable part of health systems. Throughout the past few decades, surgery has been increasingly prioritized by the global health community or governments even in low- and middle-income countries. As a result, the number of surgical procedures has risen significantly, in order to address the global disease burden, thus leading to a rise in utilization and adoption of Surgical Polypropylene Mesh.

Over the past few years, with the move to value-based care, hospitals and healthcare systems are facing extreme competition from ambulatory service sites, particularly those which offer physician office-based procedures, and ambulatory surgery. Gaining in popularity across the globe, ambulatory surgery centers (ASCs) provide both operational and economic efficiencies, enabling ease of patient access, very competitive pricing, and increased opportunities for physician engagement. Thus, with the increasing number of surgeries, Surgical Polypropylene Mesh market is expected to increase in the future.

North America Dominates the Global Surgical Polypropylene Mesh Market

North America is expected to dominate the overall market, throughout the forecast period. In the North American region, the United States holds the largest market share and this is due to better regulations of surgical devices and growing awareness among the population to approach for such procedures in case of injuries and chronic disease problems. The companies also have well-established direct channel collaboration with hospitals and clinics to serve the studied market.

Competitive Landscape

The global Surgical Polypropylene Mesh market is competitive and consists of a number of major players. Companies like Pierson Surgical Ltd, Becton, Dickinson and Company, Bio-Rad, Ethicon US, LLC. (Johnson & Johnson), Medtronic, Molnlycke Healthcare, Tepha, Inc., among others, hold the substantial market share in the market.

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support