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Surgical Hooks Market: Major Trends Reshaping the Future of the Industry
Surgical Hooks Market
What Will the Surgical Hooks Industry Market Size Be by 2025?
The expansion of the surgical hooks market has been swift in the past few years. The market size is projected to increase from $0.86 billion in 2024 to $0.95 billion in 2025, exhibiting a compound annual growth rate (CAGR) of 10.4%. Factors such as growing obesity rates, an increasing aging population, the desire for less invasive surgical procedures, boosted healthcare spending, and a rise in outpatient surgeries largely contributed to the growth during the historic period.
What's the Long-Term Growth Forecast for the Surgical Hooks Market Size Through 2029?
Expectations are high for a swift upsurge in the surgical hooks market over the coming years. The projected growth is $1.42 billion by 2029, supported by a compound annual growth rate (CAGR) of 10.5%. This growth trajectory over the forecasted period can be credited to factors such as the rising need for surgeries, the increasing prevalence of chronic diseases, growing demand for minimally invasive surgeries, escalating requirement for surgical hooks, and progress in robotic surgery. Technological innovations, smart technologies' integration, improvements in the materials used for surgical hooks, expansion in emerging markets, and focus on precision and ergonomics are key trends projected in the forecast period.
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What Are the Key Growth Drivers Fueling the Surgical Hooks Market Expansion?
The surgical hooks market is predicted to expand due to the rising occurrence of minimally invasive surgical operations. The surge in such procedures is attributed to advancements in medical technology yielding more precise and sophisticated surgical instruments. Surgical hooks facilitate minimally invasive procedures, enabling accurate tissue retraction and manipulation for precise surgical movements via smaller incisions. As an example, the American Society of Plastic Surgeons, a US-based surgical specialty organization, reported that in June 2024, the predominant minimally invasive procedure was Neuromodulator injections. The total number of such procedures performed in the US scaled from 8,694,000 in 2022, up by 9% in 2023, reaching 9,480,949 procedures. The consequent rise in minimally invasive procedures thus plays a pivotal role in the growth of the surgical hooks market.
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What Are the Key Trends Driving Surgical Hooks Market Growth?
Significant players in the surgical hooks market are strategizing their investments to elevate the quality of their product range, amplify their production scope, and foster innovation. These strategic investments help these companies to fulfill the escalating demand for advanced surgical tools and keep up with their competitive game. For instance, Surgical Instruments Group Holdings Ltd., a medical device producer rooted in the UK, announced in January 2024, its plans of erec*ting a healthcare equipment manufacturing unit in Hyderabad, with an investment of Rs.231.5 crore ($27.7 million). In its first phase, the company will manufacture an array of surgical instruments such as general surgical tools, precision tools for microsurgeries, orthopedic power instruments, dermatomes for maxo surgery, eye surgery tools, and devices for minimally invasive procedures. In its second phase, the focus will be on expanding into the production of robotic medical devices.
How Is the Surgical Hooks Market Segmented?
The surgical hooks market covered in this report is segmented -
1) By Type: Titanium Alloy, Stainless Steel, Plastic
2) By Category: Reusable, Disposable
3) By Application: Hospital, Clinic, Other Applications
Subsegments:
1) By Titanium Alloy: Standard Titanium Alloy Surgical Hooks, Coated Titanium Alloy Hooks (Anti-Corrosive Coating), Custom-Shaped Titanium Alloy Hooks
2) By Stainless Steel: Surgical Stainless Steel Hooks, Corrosion-Resistant Stainless Steel Hooks, Disposable Stainless Steel Hooks
3) By Plastic: High-Strength Plastic Surgical Hooks, Disposable Plastic Hooks, Biodegradable Plastic Hooks
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Which Companies Are Leading the Charge in Surgical Hooks Market Innovation?
Major companies operating in the surgical hooks market are Johnson & Johnson, Medtronic plc, Becton, dic*kinson and Company, Medline Industries Inc., B. Braun Medical Inc., Zimmer Biomet Holdings Inc., Smith & Nephew plc, CooperSurgical Inc., Arthrex GmbH, Integra LifeSciences Holdings Corporation, KLS Martin SE & Co., AtriCure Inc, Titan Medical Inc., Hu-Friedy Manufacturing Company LLC, Aspen Surgical Products Inc., MORIA SA, Sklar Surgical Instruments, Pelican Feminine Healthcare Ltd., Thompson Surgical Instruments Inc., BOSS Instruments Ltd., Timesco Healthcare Ltd, TeDan Surgical Innovations, Inami & Co. Ltd., Aygun Surgical Instruments, Eastern Surgical Company
Which Regions Are Leading the Global Surgical Hooks Market in Revenue?
North America was the largest region in the surgical hooks market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the surgical hooks market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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