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.
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.
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