The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2024 and forecasted to 2033

According to The Business Research Company’s Surgical Hooks Global Market Report 2023, the surgical hooks market is expected to show promising growth in the forecast period.

The surgical hooks market has experienced significant growth in recent years, driven by increasing demand for advanced surgical procedures and technological advancements. This report provides a comprehensive analysis of the market size, growth forecasts, key drivers, trends, major players, and regional insights.

Current Market Size and Growth

• 2023 Market Size: $0.78 billion
• 2024 Market Size (Projected): $0.86 billion
• CAGR: 10.7%

Key Growth Drivers

• Rising Obesity Rates: Increased obesity rates contribute to a higher incidence of surgeries related to weight management and obesity-related conditions.
• Aging Population: The growing aging population requires more surgical interventions, boosting demand for surgical hooks.
• Demand for Minimally Invasive Surgeries: The rise in minimally invasive procedures drives the need for specialized instruments like surgical hooks.
• Surge in Healthcare Expenditure: Increased healthcare spending supports the acquisition of advanced surgical tools and technologies.
• Adoption of Outpatient Surgeries: The shift towards outpatient surgical procedures enhances the demand for surgical hooks.

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Future Market Growth and Trends

The surgical hooks market is expected to continue its rapid growth trajectory, driven by several emerging trends and advancements.

Forecasted Growth (2024-2028)

• CAGR: 11.0%
• 2028 Market Size (Projected): $1.31 billion

Growth Drivers

• Increasing Surgical Procedures: A rise in the number of surgeries, including elective and reconstructive procedures, is expected to drive demand for surgical hooks.
• Higher Incidence of Chronic Diseases: Growing prevalence of chronic diseases increases the need for surgical interventions.
• Advancements in Robotic Surgery: The integration of robotics in surgery is enhancing precision and efficiency, leading to greater demand for advanced surgical hooks.
• Technological Advancements: Innovations in surgical hook design and materials contribute to market growth.
• Expansion in Emerging Markets: Growing healthcare infrastructure in emerging markets is expanding the reach of surgical hooks.
• Focus on Precision and Ergonomics: Emphasis on improving surgical outcomes through precision and ergonomic design drives the development of advanced surgical hooks.

Major Trends

• Technological Advancements: Ongoing innovations in surgical hook materials and designs enhance performance and usability.
• Integration of Smart Technologies: The incorporation of smart technologies is improving the functionality and effectiveness of surgical hooks.
• Advancements in Surgical Hook Materials: New materials and coatings are being developed to improve the durability and performance of surgical hooks.
• Expansion in Emerging Markets: Increased healthcare investments in emerging markets are creating new opportunities for surgical hook manufacturers.
• Emphasis on Precision and Ergonomics: Designing hooks with improved precision and ergonomic features is becoming a key focus.

Impact of Minimally Invasive Surgeries

The increasing prevalence of minimally invasive surgeries is a major driver for the surgical hooks market.

Example: ISAPS Report

• International Society of Aesthetic Plastic Surgery (2023): A 19.3% increase in cosmetic procedures globally in 2021 reflects the growing trend towards minimally invasive techniques, which rely on precise surgical instruments like hooks.

Major Players in the Global Market

The surgical hooks market is competitive, with several leading companies driving innovation and expanding their product offerings.

Leading Companies

• Johnson & Johnson
• Medtronic plc
• Smith & Nephew plc
• 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

Innovations and Strategic Investments

Strategic investments and innovations are enhancing the capabilities and market presence of leading companies.

Example: Surgical Instruments Group Holdings Ltd.

• January 2024: Surgical Instruments Group Holdings Ltd. plans to establish a healthcare device manufacturing facility in Hyderabad, investing Rs.231.5 crore ($27.7 million). This facility will produce general surgical instruments, microsurgical tools, and minimally invasive devices, with plans to expand into robotic medical devices.

Example: STERIS Acquisition of BD Assets

• August 2023: STERIS plc acquired surgical instrumentation assets from BD, expanding its product offerings in orthopedic, general surgery, and other surgical procedures.

Regional Insights

Regional dynamics highlight North America as a leading market, with significant growth potential in other regions.

Regional Market Leaders

• North America: The largest region in the surgical hooks market in 2023, driven by advanced healthcare infrastructure and high demand for surgical procedures.
• Asia-Pacific: Expected to be the fastest-growing region in the forecast period due to increasing healthcare investments and rising demand for surgical procedures.

Conclusion

The surgical hooks market is set for continued growth, driven by rising demand for minimally invasive surgeries, technological advancements, and expanding healthcare infrastructure. Innovations in surgical hook design and materials, along with strategic investments and mergers, are shaping the future of the market. With a competitive landscape featuring major players and dynamic regional markets, the surgical hooks market presents significant opportunities for growth and development.

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