Bone Wax Market Size

Bone Wax Market Size

Bone Wax Market was valued at around USD 53 million in 2023 and is estimated to register a CAGR of over 3.1% between 2024 and 2032. Bone wax is used in surgical procedures to control bleeding from bone surfaces. It is a waxy substance made from a mixture of beeswax and other substances, such as petroleum jelly or paraffin wax. The wax acts as a hemostatic agent, creating a physical barrier to blood flow and promoting clotting at the site of application. The increasing cases of bone fracture across the globe is a significant driver for the market.

For instance, according to the Osteoporosis Canada Facts and Stats, in 2022, one in three women and one in five men experienced an osteoporotic fracture in their lifetime. Similarly, according to the International Osteoporosis Foundation, every year, more than 8.9 million fractures occur globally due to osteoporosis. This means that an osteoporosis fracture happens every three seconds. The rising number of fractures leads to a higher demand for bone wax in surgical procedures.
 

Furthermore, market growth is attributed to multiple factors, including the rising prevalence of orthopedic disorders, advancements in surgical techniques, increasing bone & joint health supplements market, which is estimated to reach 26.4 billion by 2032, surging bone replacement market, and increasing government initiatives and funding.