Bone Wax Market Analysis
The global Bone Wax Market size is likely to grow at a favourable 3.5% CAGR between 2018- 2023, according to the new report by Market Research Future (MRFR). Bone wax, simply put, is a sterile mixture of isopropyl palmitate and beeswax. This wax-softening agent is used for controlling bleeding from the surface of the bone during surgical operations. Bone wax is used right away after this is taken out of the package. It helps in stopping the bleeding of bone via blocking the holes, thereby causing instant bone hemostasis. This is used in those procedures, which include cutting through bones such as maxillofacial surgeries, oral surgeries, orthopedic, neurosurgery, thoracic, and sternotomy. Non-absorbable bone wax and absorbable bone wax are the two types of bone wax that are widely used in ambulatory surgical centers, specialty clinics, hospitals, and others.
Various factors are propelling the global bone wax market growth. According to the new MRFR report, such factors include increasing use of absorbable bone wax products, increasing geriatric population, and rising prevalence of accidental fracture & orthopedic diseases.
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On the contrary, the development of alternatives, certain side effects, stringent government regulations, and the grave effect of the most recent COVID-19 outbreak are factors that may limit the global bone wax market growth over the forecast period.
Bone Wax Market Segmentation
The MRFR report gives an inclusive segmental analysis of the global bone wax market report based on end user, application, material, and product.
By product, the global bone wax market is segmented into non-absorbable bone wax and absorbable bone wax.
By material, the global bone wax market is segmented into synthetic bone wax and natural bone wax.
By applications, the global bone wax market is segmented into oral surgery, thoracic surgery, orthopedic surgery, neurosurgery, and others. Of these, orthopedic surgery will have a major share in the market over the forecast period.
By end users, the global bone wax market is segmented into ambulatory surgical centers, specialty clinics, hospitals, and others.
Bone Wax Market Regional Analysis
Based on the region, the global bone wax market report covers the growth opportunities and recent trends across the Americas, Europe, the Asia Pacific (APAC), & the Middle East and Africa. Of these, the Americas will spearhead the market over the forecast period. Increasing R&D activities, a growing number of surgeries, and well-developed healthcare are adding to the global bone wax market growth in the region.
The global bone wax market in Europe is predicted to hold the second-largest share over the forecast period. Increasing expenditure on the healthcare sector, rising prevalence of injuries and accidents, and growing cases of orthopedic disease are adding to the global bone wax market growth in the region.
The global bone wax market in the APAC region is predicted to grow at a fast pace over the forecast period. Rising government expenditure on the healthcare sector, growing geriatric population, increasing incidence of bone diseases, and continuously developing economies are adding to the global wax market growth in the region. China has the maximum share in the region.
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The global bone wax market in the MEA is predicted to have the smallest share over the forecast period. Meanwhile, a good share will be held by the Eastern region for the increasing initiatives by the government for the healthcare sector, rising cases of bone disorders, and the presence of a well-developed healthcare sector.
Bone Wax Market Key Players
Eminent players profiled in the global bone wax market report include GPC Medical Ltd., WNDW Medical Inc., CP Medical Corp., Bentley Healthcare Pvt. Ltd., Futura Surgicare Pvt. Ltd., Medline Industries, Inc., Medtronic Plc, Baxter International, Ethicon, Inc., Aesculap, Inc., Wound Management Technologies, Inc, and ABYRX, Inc.
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NOTE: Our team of researchers are studying Covid19 and its impact on various industry verticals and wherever required we will be considering covid19 footprints for a better analysis of markets and industries. Cordially get in touch for more details.
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