BURLINGTON, Mass., Feb. 27, 2014 /PRNewswire/ -- Decision Resources Group finds that aging populations and growing economies will lead to rapid expansion in the Brazilian, Russian, Indian and Chinese (BRIC) markets for soft tissue repair devices through 2022. Rising disposable incomes and better access to health care will encourage patients to seek treatment for soft tissue conditions and will enable more patients to afford premium products.
Adoption of hernia repair meshes across the BRIC markets will be further supported by a growing body of clinical evidence favoring tension-free hernia repair procedures due to their lower reoccurrence rates. As a result, this market will grow at a strong 10 percent annual rate through 2022. However, cost constraints in the BRIC markets will continue to affect the types of meshes purchased. Synthetic hernia repair meshes will continue to be favored over biologic meshes due to their lower cost. Similarly, in the vaginal sling market, transobturator and retropubic slings will hold the majority of the market because they have been proven to be effective and are less expensive than the relatively new single-incision slings.
"Biologic meshes and single-incision slings represent more complex devices that will see increased adoption in the BRIC countries due to the rapidly expanding economies and improved access to health care in these regions," said Decision Resources Group Analyst Hamza Sajjad. "However, these products are priced at a premium and currently have not been well established in the BRIC market. As a result, beyond the current surge in growth due to initial adoption, the long-term prospects for biologic meshes and single-incision slings will be somewhat limited until competitive markets lead to affordable pricing in each region."
Decision Resources Group's BRIC Markets for Soft Tissue Repair Devices 2014 and Chinese Markets for Soft Tissue Repair Devices 2014 reports include unit, procedure, average selling price and revenue information, along with market drivers and limiters and competitive landscapes for hernia repair meshes and vaginal slings in Brazil, Russia, India and China. The Chinese report includes further regional breakdowns including the province-level municipalities, as well as the east coast, central and other regions of China. A current year snapshot is also shown by hospital tier and city tier.
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