Colombia Hernia Repair Devices Market Size & Outlook
Colombia hernia repair devices market, 2018-2030 (US$M)
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Colombia hernia repair devices market highlights
- The Colombia hernia repair devices market generated a revenue of USD 38.5 million in 2022 and is expected to reach USD 52.2 million by 2030.
- The Colombia market is expected to grow at a CAGR of 3.9% from 2023 to 2030.
- In terms of segment, hernia mesh was the largest revenue generating product in 2022.
- Hernia Fixation Devices is the most lucrative product segment registering the fastest growth during the forecast period.
Hernia repair devices market data book summary
| Market revenue in 2022 | USD 38.5 million |
| Market revenue in 2030 | USD 52.2 million |
| Growth rate | 3.9% (CAGR from 2022 to 2030) |
| Largest segment | Hernia mesh |
| Fastest growing segment | Hernia Fixation Devices |
| Historical data | 2018 - 2021 |
| Base year | 2022 |
| Forecast period | 2023 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Hernia Mesh, Hernia Fixation Devices |
| Key market players worldwide | Medtronic PLC, Johnson & Johnson, BD, W.L. Gore & Associates, LifeCell International, B. Braun, Baxter International Inc, COOK, Herniamesh, Atrium Health |
Other key industry trends
- In terms of revenue, Colombia accounted for 0.6% of the global hernia repair devices market in 2022.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In Latin America, Brazil hernia repair devices market is projected to lead the regional market in terms of revenue in 2030.
- Mexico is the fastest growing regional market in Latin America and is projected to reach USD 137.3 million by 2030.
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Hernia Repair Devices Market Scope
Hernia Repair Devices Market Companies
| Name | Profile | # Employees | HQ | Website |
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Colombia hernia repair devices market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to hernia repair devices market will help companies and investors design strategic landscapes.
Hernia mesh was the largest segment with a revenue share of 66.49% in 2022. Horizon Databook has segmented the Colombia hernia repair devices market based on hernia mesh, hernia fixation devices covering the revenue growth of each sub-segment from 2018 to 2030.
The rising incidence of hernia in Colombia is one of the major factors driving the market growth over the forecast period. For instance, according to Asia Pacific Hernia Society (Aphernia) in 2019, the incidence rate of hernia in Colombia is around 77,777.00.
This may propel the demand for hernia repair devices in Colombia. However, low adoption of advanced healthcare facilities and declining healthcare expenditure by the government are among the major factors restraining the market growth in Colombia.
For instance, according to a report published by the Knoema, the healthcare expenditure was around 5.9% in 2016, whereas in 2015, it was around 6.0%. In addition, lack of adequate number of hospitals and clinics in the country is considered as a major factor restraining the market growth.
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Horizon Databook provides a detailed overview of country-level data and insights on the Colombia hernia repair devices market, including forecasts for subscribers. This country databook contains high-level insights into Colombia hernia repair devices market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Colombia hernia repair devices market size, by product, 2018-2030 (US$M)
Colombia Hernia Repair Devices Market Share, 2022 & 2030 (US$M)
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