Market
Highlights
Bone
wax is a mechanical hemostat used in surgeries to stop bleeding. Bone wax does
not involve any pharmacological action. It is basically a sterilized mixture of
beeswax and it consists of isopropyl palmitate, which is a wax softening agent
and is used to stop bleeding from the bone surface. It is used in surgical
procedures like orthopedics, thoracic surgery, neurosurgery, dental, oral,
traumatology, and jaw surgery. The rising number of surgical procedures is a
major booster which drives the global bone wax market. Orthopedic surgeries are
increasing due to the rising prevalence of orthopedic diseases, especially
osteoporosis and accidental fractures. Also, the rising usage of absorbable
bone wax products and the growing geriatric population is also fueling the
market growth. According to the Population Reference Bureau in 2016, the number
of Americans aged 65 and older is projected to reach 98 million by 2060. On the
other hand, stringent government rules for the approval of bone wax and the
availability of alternatives for bone wax may hinder the growth of the market
during the forecast period.
The
global bone wax market is currently dominated by many market players. The
prominent market players are engaged in new product launches and strategic
partnerships to strengthen its market position. For instance, in February 2016,
Wound Management Technologies announced the US Food and Drug Administration
(FDA) clearance for its product HemaQuell, which is a resorbable bone wax.
Regional
Analysis
The
market in the Americas is expected to dominate the global bone wax market
during the forecast period owing to the increasing awareness among the people
regarding bone wax and rising orthopedic surgeries. The European market is
expected to be the second-largest due to government funding and support of the
healthcare sector, increasing prevalence of bone diseases, and growing number
of accident and injuries. According to the Arthritis Research UK in 2016, around
10 million people in the UK had a form of arthritis. Moreover, the market in
Asia-Pacific region is anticipated to be the fastest-growing during the
assessment period owing to the increasing awareness about surgical procedures
requiring bone wax, increasing geriatric population, and rising healthcare
expenditure. The market in the Middle East & Africa is likely to account
for the smallest share of the global bone wax market due to the slowly growing
healthcare infrastructure mainly in the African region.
Segmentation
The
global bone wax market has been segmented into product, material, application,
and end user.
The
market, on the basis of product, has been 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 applications, has been segmented into neurosurgery, orthopedic
surgery, thoracic surgery, oral surgery, and others.
The
market, by end-users, has been segmented into hospitals, specialty clinics,
ambulatory surgical centers, and others.
Key
Players
Some of the key players in the global bone wax
market are 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.,
WNDM Medical Inc., GPC Medical Ltd., and others.
No comments:
Post a Comment