The global bone wax market size was estimated to be US$ 79 million in 2021 and is expected grow at a CAGR of 3.4% between 2023 to 2032.
Bone wax is a sterile medical grade mixture which is used to stop bleeding from bone surfaces. It includes a wax- softening agent usually isopropyl palmitate. Bone wax is used as a mechanical hemostatic agent during neurosurgery, dental surgery, thoracic surgery and orthopedic surgery.
Due to the rise in surgical procedures there is a growing demand for bone wax products. Furthermore, the advent of synthetic bone wax products has bolstered the growth of the bone wax market globally. Synthetic bone wax is absorbable and is made of water soluble polymers to reduce associated complications. Both traditional and synthetic bone wax have carrier applications for inflammatory drugs at the surgery site. As more and more synthetic products look and feel like traditional bone wax products, this will increase the usage of bone wax products compared to other hemostatic agents for bones.
Incidences of orthopedic disorders are on the rise. Conditions affecting the musculoskeletal system including muscles, bones, nerves, joints, ligaments, tendons and other connective tissues. These tissues may be damaged from chronic conditions or from an injury.
Non-invasive procedures for sports injuries and recreational related injuries are gaining popularity around the world. People with large disposable incomes are willing to spend on such procedures and this should increase growth of this market
In many developed countries the population of people over 60 years in steadily increasing. As the people’s age increases the incidences of orthopedic autoimmune and chronic diseases such as arthritis, osteoporosis and tendinitis also increase.
Government regulators around the world have imposed various stringent regulations and standards pertaining to new synthetic bone wax products which are expected to restrain market growth.
Many bone wax products previously introduced have shown multiple adverse side effects and therefore have been not approved by the regulators. Such setbacks for the bone wax manufacturers will further challenge the growth of this market globally.
Bone Wax Market Share Analysis, by Geography (2022)
The major companies in the bone wax market are ABYRX Inc., Wound Management Technologies Inc., Aesculap Inc., Ethicon Inc., Medtronic, Baxter, Medline Industries Inc., Futura Surgicare Pvt. Ltd., CP Medical Corporation, Bentley Healthcare Pvt. Ltd., GPC Medical Ltd and others.
By Product
By Material
By Application
By End-User
By Geography
The global bone wax market is estimated to exhibit a CAGR of 3.4% through 2032.
Bone wax is a sterile medical grade mixture which is used to stop bleeding from bone surfaces. It includes a wax- softening agent usually isopropyl palmitate. Bone wax is used as a mechanical hemostatic agent during neurosurgery, dental surgery, thoracic surgery and orthopedic surgery.
Non-invasive procedures for sports injuries and recreational related injuries are gaining popularity around the world. People with large disposable incomes are willing to spend on such procedures and this should increase growth of this market.
Based on material, the bone wax market is segmented into Natural bone wax and Synthetic bone wax.
Key bone wax market players are ABYRX Inc., Wound Management Technologies Inc., Aesculap Inc., Ethicon Inc., Medtronic, Baxter, Medline Industries Inc., Futura Surgicare Pvt. Ltd., CP Medical Corporation, Bentley Healthcare Pvt. Ltd., GPC Medical Ltd and others.
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