Bone Wax Market Size To Reach $66.0 Million By 2030

Bone Wax Market Growth & Trends

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, according to a new report by Grand View Research, Inc. 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.

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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

Bone Wax Market Segmentation

Grand View Research has segmented the global bone wax market on the basis of product, application, material, end-use, and region:

Bone Wax Product Outlook (Revenue, USD Million, 2018 - 2030)

• Absorbable Bone Wax

• Non-absorbable Bone Wax

Bone Wax Application Outlook (Revenue, USD Million, 2018 - 2030)

• Orthopedic Surgery

• Thoracic Surgery

• Neurosurgery

• Dental/Oral Surgery

• Others

Bone Wax Material Outlook (Revenue, USD Million, 2018 - 2030)

• Natural Bone Wax

• Synthetic Bone Wax

Bone Wax End-use Outlook (Revenue, USD Million, 2018 - 2030)

• Hospitals

• Outpatient Facilities

Bone Wax Regional Outlook (Revenue, USD Million, 2018 - 2030)

• North America

  • U.S.

  • Canada

• Europe

  • UK

  • Germany

  • France

  • Italy

  • Spain

  • Denmark

  • Sweden

  • Norway

• Asia Pacific

  • Japan

  • China

  • India

  • Thailand

  • South Korea

  • Australia

• Latin America

  • Brazil

  • Mexico

  • Argentina

• Middle East & Africa

  • South Africa

  • Saudi Arabia

  • UAE

  • Kuwait

List of Key Players in Bone Wax Market

• Pfizer, Inc.

• Zimmer Biomet Holdings, Inc.

• Medline Industries, Inc.

• Medtronic

• B Braun Melsungen AG

• Baxter International, Inc.

• Johnson & Johnson

• Dolphin Sutures

• SMI AG

• Orion Sutures India Pvt. Ltd.

• Universal Suture