About Bone Wax
Bone Wax is a mixture of beeswax and petroleum jelly or Vaseline. Bone Wax is generally used while conducting surgeries to stop or prevent bleeding from bone surfaces by mechanically blocking any holes, through which blood is coming out of bones. Bone wax is highly preferred in the medical industry due to its extremely good hemostatic properties.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
Competition among existing players is due to the Bone Wax market share occupied by leading players. The industry leader is engaged in offering innovative and superior quality products to cater to the ever-growing demand for Bone Wax Market. The companies are implementing strategic activities such as acquisitions and mergers along with collaboration with companies in other industries to aid them in improving sustenance and maintaining their competitive advantage. Analyst at AMA Research estimates that United States Players will contribute the maximum growth to Global Bone Wax market throughout the forecasted period. Established and emerging Players should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Baxter International Inc. (United States), Abyrx, Inc. (United States), Johnson & Johnson (United States), Braun Melsungen AG (Germany), GPC Medical Ltd. (India), Medtronic plc (Ireland), WNDM Medical Inc. (United States), Futura Surgicare Pvt. Ltd. (India), Medline Industries Inc. (United States) and Surgical Specialties Corporation (United States) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research coverage are Ethicon, Inc. (United States), Dolphin Sutures (India), Bentley Healthcare Pvt. Ltd. (India) and Others.
Segmentation Overview
AMA Research has segmented the market of Global Bone Wax market by Type (Absorbable Bone Wax and Non Absorbable Bone Wax), Application (Dental surgery, Orthopedics, Neurosurgery, Thoracic Surgery and Others) and Region.
On the basis of geography, the market of Bone Wax has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Sales Channels, the sub-segment i.e. Direct Channel will boost the Bone Wax market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by End Users, the sub-segment i.e. Hospitals will boost the Bone Wax market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Innovation in Absorbable Bone Wax, has Made this Segment Mostly Preferred by the End User Industries in the Recent Time Due to Better Safety and Ease of Application Compared to Non-Absorbable Segment
Market Growth Drivers:
Increasing Orthopaedic Ailments in People Due to Stiff Urban Lifestyle will Propel the Growth of Bone Wax Market Because of Increased Surgeries and Increase in Insurance Coverage Widely has Lead More People to Pursue Surgeries thus Again it will Naturally Lead to Growth of Bone Wax Industry Due to its Use During Surgeries
Challenges:
Competition from Bone Wax Substitutes Such as Water Soluble Wax “Ostene”, and Other Such Products would Negatively Impact the Market of Bone Wax and More Research and Development is Required to Enhance the Existing Fault Lines which Occurred in Bone Wax Causing Side Effects in few of the Patients
Restraints:
Stringent Medical Regulations by Various National Governments and Few Patients Suffer Side Effects which Sends a Negative Sentiment towards Growth of Rest of the Market
Opportunities:
Increasing the Hospital Infrastructure by Governments across the World, that Lead to Greater Amount of Surgical Procedures
Market Leaders and their expansionary development strategies
In 2020, American market leader in medical products Baxter International Inc. announced the acquisition of toSense, Inc., which specializes in patient monitoring system manufacturing. Baxter looks at learning from the expertise of toSense in patient monitoring and innovate in its own line of the patient monitoring system.
Key Target Audience
Bone Wax Manufacturers, Suppliers, and Distributors, New Entrants/ Investors, Venture Capitalists and Private Equity Firms, Government regulatory bodies and End-User Industries
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.