The global bone wax market size is anticipated to reach USD 66.0 million by 2030, registering a CAGR of 3.1% from 2024 to 2030. The growing incidence of fractures globally is the major factor driving product usage. Osteoporosis is one of the major risk factors resulting in fractures, especially in the hip, wrist, or spine. According to the International Osteoporosis Foundation, by 2050, the Asian population is expected to have over 50% prevalence of osteoporosis. Hence, increasing osteoporosis prevalence is expected to contribute to the market growth. Furthermore, the increasing prevalence of arthritis is expected to drive industry growth. Arthritis results in degrading bone quality, which further increases the risk of fractures. According to the Institute for Health Metrics and Evaluation, by 2050, the global prevalence of osteoarthritis, a common form of arthritis, is expected to reach 1 billion.
According to the Elsevier B.V. (Science Direct) study published in February 2021, in the UK, the prevalence of fractures in osteoarthritis individuals was 13.2 per 1000 individuals, whereas, in non-osteoarthritis individuals, the prevalence was 8.5 per 1000 individuals. Increasing dental health awareness and a growing number of reconstructive and implant surgeries fuel product demand in dental/oral surgery applications. According to the WHO article published in March 2023, the global prevalence of oral diseases is approximately 3.5 billion. Moreover, the rising volume of oral surgeries due to oral cancer is expected to drive market growth. For instance, according to the Global Cancer Observatory, in 2022, 389,495 new cases of lip and oral cancer were detected.
According to the Elsevier B.V. (Science Direct) study published in February 2021, in the UK, the prevalence of fractures in osteoarthritis individuals was 13.2 per 1000 individuals, whereas, in non-osteoarthritis individuals, the prevalence was 8.5 per 1000 individuals. Increasing dental health awareness and a growing number of reconstructive and implant surgeries fuel product demand in dental/oral surgery applications. According to the WHO article published in March 2023, the global prevalence of oral diseases is approximately 3.5 billion. Moreover, the rising volume of oral surgeries due to oral cancer is expected to drive market growth. For instance, according to the Global Cancer Observatory, in 2022, 389,495 new cases of lip and oral cancer were detected.
Bone Wax Market Report Highlights
- The non-absorbable bone product segment led the market with a share of more than 65.0% share in 2023 owing to its application in orthopedics and craniofacial surgeries. The absorbable bone segment is expected to grow at the fastest CAGR from 2024 to 2030 owing to the high adoption of these products in arthroplasty procedures
- The orthopedic surgery segment held the largest revenue share in 2023 and is expected to grow at the fastest CAGR from 2024 to 2030 due to rising geriatric population suffering from orthopedic disorders
- The natural material segment dominated the market in 2023 and is expected to grow at the fastest CAGR from 2024 to 2030 owing to its compatibility with the body's natural healing mechanisms
- The hospital end-use segment dominated the market owing to its role in the delivery of comprehensive healthcare services. The outpatient facility segment is expected to register the fastest CAGR from 2024 to 2030 due to the high demand for outpatient surgeries
- North America led the market in 2023 due to factors such as the growing participation of the population in sports and recreational activities, and a resultant rise in the cases of bone fractures
- In September 2023, Abyrx, Inc. received a regulatory clearance from the U.S. FDA for its MONTAGE Settable Bone Putty, used in cardiothoracic surgery. It is the first clearance by the FDA to use settable bone putty in sternotomy
Table of Contents
Chapter 1. Methodology and Scope
Chapter 2. Executive Summary
Chapter 3. Bone Wax Market Variables, Trends & Scope
Chapter 4. Bone Wax Market: Product Estimates & Trend Analysis
Chapter 5. Bone Wax Market: Application Estimates & Trend Analysis
Chapter 6. Bone Wax Market: Material Estimates & Trend Analysis
Chapter 7. Bone Wax Market: End-use Estimates & Trend Analysis
Chapter 8. Bone Wax Market: Regional Estimates & Trend Analysis, by Product, Application, Material, and End Use 2018 - 2030 (USD Million)
Chapter 9. Competitive Landscape
List of Tables
List of Figures
Companies Mentioned
- Braun Melsungen AG
- Baxter International Inc.
- Johnson & Johnson
- Medtronic plc
- GPC Medical Ltd
- Medline Industries Inc
- Dolphin Sutures
- SMI AG
- ORION SUTURES INDIA PVT LTD
- Universal Sutures
Methodology
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Table Information
Report Attribute | Details |
---|---|
No. of Pages | 150 |
Published | February 2024 |
Forecast Period | 2023 - 2030 |
Estimated Market Value ( USD | $ 52.7 Million |
Forecasted Market Value ( USD | $ 66 Million |
Compound Annual Growth Rate | 3.1% |
Regions Covered | Global |
No. of Companies Mentioned | 10 |