Bone Wax Market Research Report Information By Product (Absorbable Bone Wax, Non-Absorbable Bone Wax), Material (Natural Bone Wax, Synthetic Bone Wax), Application (Neurosurgery, Orthopedic Surgery, Orthopedic Surgery, Others), End-User – Forecast Till 2030
ID: MRFR/Pharma/5001-HCR | 100 Pages | Author: Rahul Gotadki | June 2023
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Bone Wax Market
The Bone Wax Market is projected to reach USD 61.68 Million by 2030 at 2.90% CAGR during the forecast period 2022-2030.
$61.68 Million
2.90%
North America
2022-2030
Bone Wax Market Overview
The Bone Wax Market is expected to reach USD 61.68 Million by 2030 at 2.90% CAGR during the forecast period 2022-2030. Bone wax is a sterile material used in surgical operations to help physically stop bleeding from bone surfaces. To halt bleeding in the bones, a mixture of beeswax (70%) and Vaseline (30%) is usually used. By serving as a mechanical barrier, bone wax can establish local bone hemostasis. Bone wax is also used in thoracic surgery, neurosurgery, orthopedics, and traumatology, as well as dental, oral, and jaw surgery, for mechanical hemostasis in bones. Factors such as expanding elderly population, rising use of absorbable bone wax products, and the increasing number of surgical operations primarily due to orthopedic disorders and unintentional fracture cases are likely to fuel market expansion over the assessment period. The rise in the global prevalence of sports and recreation-related injuries, orthopedic diseases, and accidental fracture cases leading to surgical procedures, as well as the steep rise in the adoption of absorbable bone wax products in arthroplasty procedures, are the major factors driving the Bone Wax Market's growth. However, more research is needed to determine the efficacy of BBHA in patients with coagulation issues. Thus, during the study period, research and development studies for evaluating the efficacies of bone wax in arthroplasty surgeries are likely to boost Bone Wax market expansion.
Segmentation
The bone wax market has been segmented into product, material, application, and end-user.
The market, on the basis of product, is segmented into absorbable bone wax and non-absorbable bone wax.
The market, by material, has been segmented into natural bone wax and synthetic bone wax.
The market, by application, has been segmented into neurosurgery, orthopedic surgery, thoracic surgery, oral surgery, and others.
On the basis of end-user, the market has been segmented into hospitals, clinical laboratories, and others.
The market has been segmented, by region, into the Americas, Europe, Asia-Pacific, and the Middle East & Africa. The bone wax market in the Americas has further been segmented into North America and South America, with the North American market divided into the US and Canada.
The European bone wax market has been segmented into Western Europe and Eastern Europe. Western Europe has further been classified as Germany, France, the UK, Italy, Spain, and the rest of Western Europe.
The bone wax market in Asia-Pacific has been segmented into Japan, China, India, South Korea, Australia, and the rest of Asia-Pacific. The bone wax market in the Middle East & Africa has been segmented into the Middle East and Africa.
Key players
ABYRX, Inc., Wound Management Technologies, Inc., Aesculap, Inc., Ethicon, Inc., Medtronic Plc, Baxter International, Medline Industries, Inc., Futura Surgicare Pvt. Ltd., CP Medical Corp., Bentley Healthcare Pvt. Ltd., WNDW Medical Inc., GPC Medical Ltd., and others are some prominent players in the bone wax market.
Regional Market Summary
Global Bone Wax Market Share (%), by Region, 2017
Source: American Joint Replacement Registry, National Center for Biotechnology Information (NCBI), Annual reports
Geographically, the Americas is anticipated to dominate the bone wax market owing to a well-developed healthcare sector, rising number of surgeries, steady growing occurrence of orthopedic diseases, growing number of surgeries and relatively large number of research and development activities. According to an article published by the National Center for Biotechnology Information (NCBI) in 2016, osteoarthritis (OA) is affecting an estimated 12% of the US adults in the age group 25 to 74 years.
Europe is expected to hold the second largest position in the bone wax market. The market growth in this region is attributed to the rising prevalence of orthopedic disease, increasing occurrences of accidents and injuries, and increasing expenditure on the healthcare sector. According to the Eurostat, around 7.1 million in-patients with injuries, poisoning and other consequences such as accidents were discharged from hospitals in the European Union (EU) in 2015.
The bone wax market in Asia-Pacific region consists of countries namely China, Japan, Republic of Korea, India, Australia and Rest of Asia-Pacific. Asia-Pacific is anticipated to be the fastest growing region in the market due to continuously developing economies, rising prevalence of bone diseases, an increasing number of geriatric populations, and increasing government funding for the healthcare sector. According to the report by the United Nations Department of Economic and Social Affairs, in India, the number of older persons is projected to grow by 64% between the years 2015 and 2030. It also projected that the number of older persons in China is projected to grow by 71% over the same period.
On the other hand, the Middle East & Africa has the least share of the market. Majority of the market of this region is expected to be held by the Middle East region due to a well-developed healthcare sector, and the growing prevalence of bone disorders and growing government initiatives for the healthcare sector.
Bone Wax Market, by Product
- Absorbable Bone Wax
- Non-Absorbable Bone Wax
Bone Wax Market, by Material
- Natural Bone Wax
- Synthetic Bone Wax
Bone Wax Market, by Application
- Neurosurgery
- Orthopedic Surgery
- Thoracic Surgery
- Oral Surgery
- Others
Bone Wax Market, by End-User
- Hospitals
- Specialty Clinics
- Ambulatory Surgical Centers
- Others
Bone Wax Market, by Region
- Americas
-
- North America
- US
- Canada
- South America
- Europe
-
- Western Europe
- Germany
- France
- Italy
- Spain
- UK
- Rest of Western Europe
- Eastern Europe
- Asia-Pacific
-
- Japan
- China
- India
- Australia
- South Korea
- Rest of Asia-Pacific
- The Middle East & Africa
- Middle East
- Africa
Recent Development
Futura Surgicare Pvt. Ltd. increased its product offering in February 2022 by introducing Hemostatic products under the brand Hemostax (Oxidised Regenerated Cellulose) as part of a new vertical Dolphin Hemostats. Hemostax Standard is an absorbable hemostat meant to aid surgeons with better bleeding control. Bone wax (BW) melted by the thermal effect of bipolar electrocoagulation can achieve more efficient hemostasis and reduce the amount of BW in neurosurgical procedures associated with bleeding from emissary and diploic veins, according to a study published in January 2022 titled Evaluation of Bone Wax Coated Bipolar Coagulation Forceps: Performance and Safety Assessment.
Intended Audience
- Manufacturers of Bone wax
- Bone Wax Distributors
- Contract Research Organization
- Healthcare Institutions
- Research Associations Related to Bone-Related Medical Conditions
- Academic Institutes and Universities
Report Scope:
| Report Attribute/Metric | Details |
|---|---|
| Market Size | USD 61.68 Million |
| CAGR | 2.90% |
| Base Year | 2021 |
| Forecast Period | 2022-2030 |
| Historical Data | 2020 |
| Forecast Units | Value (USD Million) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Product, Material, Application, and End-user. |
| Geographies Covered | North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
| Key Vendors | ABYRX, Inc., Wound Management Technologies, Inc., Aesculap, Inc., Ethicon, Inc., Medtronic Plc, Baxter International, Medline Industries, Inc., Futura Surgicare Pvt. Ltd., CP Medical Corp., Bentley Healthcare Pvt. Ltd., WNDW Medical Inc., GPC Medical Ltd., and others |
| Key Market Opportunities | New product launches and R&D Amongst major key Players |
| Key Market Drivers |
|
Frequently Asked Questions (FAQ) :
The bone wax market has a predicted CAGR of 2.90% during the forecast period of 2022-2030.
The hurdles are strict regulations, availability of better alternatives, and side-effects that can deter the bone wax market growth.
Bone wax market has key players like Aesculap, Inc., Ethicon, Inc., GPC Medical Ltd., Medtronic Plc, ABYRX, Inc., Wound Management Technologies, Inc., Medline Industries, Inc., Baxter International, CP Medical Corp., Futura Surgicare Pvt. Ltd., WNDW Medical Inc., Bentley Healthcare Pvt. Ltd., and others.
The Americas would lead the global market.
The Asia Pacific market would be the fastest-growing.
Key Questions Answered
- ✅ Global Market Outlook
- ✅ In-depth analysis of global and regional trends
- ✅ Analyze and identify the major players in the market, their market share, key developments, etc.
- ✅ To understand the capability of the major players based on products offered, financials, and strategies.
- ✅ Identify disrupting products, companies, and trends.
- ✅ To identify opportunities in the market.
- ✅ Analyze the key challenges in the market.
- ✅ Analyze the regional penetration of players, products, and services in the market.
- ✅ Comparison of major players’ financial performance.
- ✅ Evaluate strategies adopted by major players.
- ✅ Recommendations
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