Research Nester published a report titled “Bone Wax Market: Global Demand Analysis & Opportunity Outlook 2028” which delivers a detailed overview of the bone wax market in terms of market segmentation by product, material, application, end-user and by region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis, and Porter’s five force model.
Bone wax is a sterile mixture of beeswax and isopropyl palmitate, a wax-softening agent, used to help mechanically control bleeding from bone surfaces during surgical procedures. They are used for mechanical hemostasis in bones during surgical procedures, such as orthopedics, thoracic surgery, neurosurgery, dental, traumatology, and oral and jaw surgery. The bone wax market is segmented by product into absorbable bone wax, non-absorbable bone-wax out of which, the absorbable bone wax segment is anticipated to hold leading shares on the back of the safety, ease of application, and enhanced efficiency with their resorbable nature which does not necessitate the removal, and reduced chances of side effects coupled with patient compliance of the absorbable bone wax.
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The bone wax market is anticipated to record a robust CAGR throughout the forecast period i.e. 2020-2028. Increasing number of cases for surgical and operating room procedure coupled with a rising case of incidence of orthopedic diseases, an increasing number of accidental fracture cases, and growing demand for minimally invasive surgical procedure are some of the factors anticipated to promote towards the growth of the global bone wax market in the coming years. According to the National Safety Council (NSC) report, in 2017 about 526,000 were diagnosed with sports and recreation-related injuries and are expected to grow throughout the forecast period fueling the global market.
Regionally, the global bone wax market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa region. North America is estimated to hold the leading share of the global bone wax market, owing to increasing awareness about surgical procedures coupled with reimbursement policy by health authority coupled with the awareness among people and higher prices of products. According to the American joint replacement registry report-2018, over 1.4 million hip and knee arthroplasty procedures were recorded.
Rising Number of Surgical and Operating Room Procedure
According to the American Joint Replacement Registry, around 1,61,040 joint replacement procedures took place in the US in 2016.
Increasing case of incidence of orthopedic diseases, incrementing number of cases for surgical and operating room procedures, growing demand for minimally invasive surgical procedures and the rising number of accidental fracture cases are some of the factors anticipated to propel the growth of the global bone wax market.
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However, factors such as stringent rule by health regulatory authority coupled with the development of alternatives for bone wax, and certain side effects of bone wax are expected to hinder the growth of the market.
This report also provides the existing competitive scenario of some of the key players of the bone wax market which includes company profiling of ABYRX, INC., B. Braun Melsungen AG, Ethicon, Inc. (Johnson & Johnson) (NYSE: JNJ), Medtronic plc. (NYSE: MDT), Baxter International (NYSE: BAX), Medline Industries, Inc., GPC Medical Ltd., Bentley Healthcare Pvt. Ltd, CP Medical Corp., Aesculap, Inc. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials, and recent news and developments. On the whole, the report depicts a detailed overview of the bone wax market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities, and other stakeholders to align their market-centric strategies according to the ongoing and expected trends in the future.
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