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How has the surgical hooks market size evolved in recent years?

In recent times, there has been a speedy growth in the surgical hooks market. The projection for the market is to burgeon from $0.86 billion in 2024 to $0.96 billion in 2025, displaying a compound annual growth rate (CAGR) of 11.3%. Factors such as increased obesity rates, an aging population, soaring demand for minimally invasive procedures, a spike in healthcare spending, and a growing preference for outpatient surgeries have contributed to the substantial growth experienced during the historical period.

What are the predictions for the surgical hooks market size in the coming years?

The surgical hooks market size is expected to see rapid growth in the next few years. It will grow to $1.45 billion in 2029 at a compound annual growth rate (CAGR) of 11.0%. The growth in the forecast period can be attributed to increasing demand for surgeries, higher incidence of chronic diseases, increasing minimally invasive surgeries, increasing demand for surgical hook, and advancements in robotic surgery. Major trends in the forecast period include technological advancements, integration of smart technologies, advancements in surgical hook materials, expansion in emerging markets, and emphasis on precision and ergonomics.

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What key factors are fueling the growth of the surgical hooks market?

The rise in minimally invasive surgical procedures is anticipated to spur the surgical hooks market’s expansion. This increase in minimally invasive surgeries can be attributed to advances in medical technology that have given rise to more refined and accurate surgical tools. Surgical hooks play a crucial role in these procedures by ensuring precise tissue retraction and manipulation, thereby allowing for accurate surgical maneuvers through tiny incisions. For example, in June 2024, the American Society of Plastic Surgeons, a US-based surgical specialty organization, revealed that Neuromodulator injections were the most prevalent minimally invasive procedure in 2023, accounting for 9,480,949 surgeries. This represented a 9% increase from the total number of Neuromodulator injections surgeries performed in the United States in 2022, which was 8,694,000. As a result, the upward trend in minimally invasive surgeries is fueling the growth of the surgical hooks market.

How is the global surgical hooks market divided into key segments?

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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What are the top market players propelling the growth of the surgical hooks industry?

Major companies operating in the surgical hooks market are Johnson & Johnson, Medtronic plc, Becton, Dickinson 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

What emerging trends are influencing the growth of the surgical hooks market?

Major firms engaging in the surgical hooks market are strategically investing to bolster their product collections, scale up production facilities, and stimulate innovation. These strategic contributions enable companies to cater to the increasing need for state-of-the-art surgical implements and uphold their competitiveness. For instance, Surgical Instruments Group Holdings Ltd., a medical device production company based in the UK, disclosed in January 2024 its intention to set up a healthcare equipment production plant in Hyderabad, pledging an investment of Rs.231.5 crore ($27.7 million). In its first phase, Surgical Instruments Group Holdings produces generic surgical tools, microsurgery precision instruments, orthopedic power equipment, maxo surgery dermatomes, eye-related tools, and devices for minimally invasive surgery. In the second phase, the firm plans to extend into the production of robotic medical appliances.

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Which regions are most influential in expanding the surgical hooks market?

North America was the largest region in the surgical hooks market in 2023. 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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