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Bone wax is a sterile mixture used in surgical procedures to control bleeding from bone surfaces, especially in orthopedic and neurosurgical interventions, making it an essential product in the medical field.
As the number of surgeries, particularly in the orthopedic and neurosurgery areas, which is attributed to factors such as aging road and sports injuries approximation, the demand for bone wax will augment and thereby affect the market dynamics.
The emergence of sophisticated surgical procedures, all of which seeking for fine bleeding control, is a key factor leading to the bone wax market development. This observed trend, in turn, drives further technological progress.
One of the most important market drivers in this segment is the ongoing improvement in construction materials technology, including the introduction of biocompatible and antimicrobial types, which, in turn, improve the efficacy and safety of the implants, boost market growth and affect the choice among surgeons.
The regulatory mechanisms that prescribe the manufacturing and distribution of medical equipment such as bone wax that include quality and safety standards as well as compliance impact the market by improving their performance, strengthening their competitiveness, and which in turn affects the market accessibility.
Competition and an ample assortment of bone wax offerings from numerous producers, who come up with distinct versions of several sizes and packages, underlie the dynamics of the bone wax market that eventually contribute to price wars and brand differentiation.
The impact of budget restrictions in healthcare facilities, specifically in low-income regions, on purchasing decisions is also the factor which causes price sensitivity and cost-effective bone wax products in return, leading to market behavior shift towards the mentioned products.
Surgeons' individual preferences for bone wax formulations taking into account elements like user friendliness, hemostatic efficiency, and biocompatibility substantially influence the business dynamics, resulting in a hospital production sector that concentrates on the manufacture of customized goods [that are produced] to fit the needs of the surgery arena.
Healthcare expenses, reimbursement policy, GDP growth rate are economical parameters, which in turn lead to market position, therefore it becomes difficult to evaluate across the different regions.
Discovering new incipient markets with improving healthcare infrastructure such as hospitals and rising surgical numbers of patients can unlock new growth prospects that shape the current competitive landscape by drawing new investors into the market.
The healthcare consolidation results from the combinination chain and M and A leads to the centralized purchasing competition, this results from whether or not the products will be available and the setting of the prices as the bone wax supplier negotiates with market stakeholders.
Market dynamics can be influenced through educational programs and training sessions which are placed be bone wax manufacturers and healthcare bodies to acquaint surgeons with features of the product, its usage techniques and safety methods. This promotes market growth and standardizes surgical practices.
Adherence to professional guidelines and standards issued by regulatory bodies and professional organizations regarding the use of bone wax in surgical procedures influences market dynamics by shaping product specifications, labeling requirements, and usage recommendations.
Growing emphasis on patient-centric care and personalized medicine in healthcare delivery influences market dynamics by fostering demand for customized bone wax products tailored to individual patient needs and surgical requirements, thus shaping market trends and preferences.
Bone Wax Market Highlights:
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.Â
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
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