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Bone Wax Market Dynamics Detailed in New Research Report
Posted: Oct 24, 2017
Bone wax is a mechanical hemostat used in surgical procedures to stop bleeding. The effect of bone wax on the surgical or wound area does not involve pharmacological action. The wax fills the space made in the bones, which was left open after surgical incision, thereby stopping the bleeding. It offers a cost effective alternative to stop bleeding. Bone wax is manufactured with varying concentrations of bees wax, white hard paraffin wax, and isopropyl palmitate. The bone wax is a highly sterilized material; sterilization is done with the help of gamma radiations. The product is usually packaged in the form of putty or stick and has a shelf life of up to 5 years. The bone wax is a malleable product mixed with softener; surgeons mold the two at the time of surgery. Application of bone wax is often accompanied with the use of anti-inflammatory drugs to reduce the pain and inflammation at different stages of wound healing.
Superior technological advancements involving cutting edge technology for use of bone wax during surgical interventions are anticipated to drive the global bone wax market. Increasing preference for less painful post-operative hemostat is projected to create significant opportunity in the global market. Major manufacturers of surgical devices focus on product offerings to capture entire market space, including before, during, and post-surgical procedures. Faster recovery due to controlled reduction blood loss and minimized risk of associated surgical site infections are factors likely to contribute to the growth of the market during the forecast period. However, alternative products approved for use during surgeries and risk associated with filling of bone wax in space between tissues are projected to restrain the market during the forecast period.
The global bone wax market has been categorized based on product type, material type, application, end-user, and region. In terms of product type, the market has been segmented into absorbable bone wax and non-absorbable bone wax. Based on material type, the market has been bifurcated into natural bone wax and synthetic bone wax. On the basis of application, the market has been segmented into neurosurgery, orthopedic surgery, thoracic surgery, and dental/oral surgery, and others. Based on end-user, the market is classified into specialty clinics, hospitals, and ambulatory surgical centers.
In terms of region, the bone wax market has been categorized into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Asia Pacific is expected to witness steady growth owing to improving healthcare infrastructure in outpatient settings, rising number of local manufacturers of bone wax offering low cost products, and significant adoption of bone wax as low cost alternative to other wound closure devices. North America is expected to dominate the global bone wax market during the forecast period. Dominance of the region can be attributed to rising incidence of orthopedic diseases and availability of suitable reimbursement policies. Continuous technological innovations by the manufacturers is projected to fuel the growth of the market in the near future.
Leading market players in the emerging countries are engaged in distribution licenses and co-development agreements for bone wax manufacturing to strengthen their market position. Rising preference for cost-effective techniques, at reduced side-effects are anticipated to further increase demand for the products. Innovations in bone wax, enabling its use as a drug carrier for medications used in bone healing process, presents a major opportunity in the market.
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Key players operating in the globBone Wax Market Dynamics Detailed in New Research Reportal bone wax market include B. Braun Melsungen AG, Medtronic, Surgical Specialties Corporation, Futura Surgicare Pvt. Ltd., Unilene, Lotus Surgicals, GPC MEDICAL Ltd., Sutures India Private Limited, Genco Tibbi, Medline Industries, Inc., and Bentley Healthcare Pvt. Ltd.
Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services.