Bone Morphogenetic Protein Market Analysis and Value Forecast Snapshot by End-use Industry 2017-2027
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The bone morphogenetic protein has proved to be useful for the patient undergoing spinal infusion treatment because of the elimination of pain. This advanced approach reduces the amount of pain, reduces the dependence on screw and spinal rods and has increased the rate of spinal fusion, which has will lead to increase in the global bone morphogenetic protein market through 2024. Additionally, increase in number of accidents, spinal and bone injuries, rise in number of sports injuries, secondary lifestyle such as bad postures, increases in geriatric population are the major factors that are likely to propel the growth of the global bone morphogenetic protein market during the forecast period.
However, the increase in cost of the bone morphogenetic protein product, strict regulations issues, biocompatibility factor involved during the transplantation and the availability of the well established alternative bone grafts are few of the factors that can restrain the growth of the global bone morphogenetic protein market during the forecast period.
The global bone morphogenetic market is segmented into types of recombinant protein, application types and geography. On the basis of the type of recombinant protein the global market is segmented into rh-BMP-2, rh- BMP-7 and others. rh- BMP-2 segment dominates the global market due to large acceptance of the protein by the physicians and surgeons globally, rise in number of sports injuries, favorable reimbursement policies etc. rh-BMP-7 is expected to diminish from the global market in future. On the basis of application the global market is divided into spinal fusion, trauma, oral surgery, maxilla-facial defects and others. The spinal fusion segment holds the largest share in the global market owing to the factors like rise in spinal injuries, rise in geriatric population, rise in sports injuries etc.
Geographically, the global bone morphogenetic protein market is divided into North America, Western Europe, Eastern Europe, Latin America, Asia Pacific excluding Japan, Japan, Middle East and Africa. North America region is expected to dominate the global bone morphogenetic protein market through 2024 followed by Europe. Rise in prevalence of spinal injuries, prevalence of unhealthy lifestyle, awareness of protein product, and rise in geriatric population. Asia Pacific region is expected to register a higher growth in the global bone morphogenetic protein market due to awareness among the people about bone morphogenetic protein, rise in number of accidents, developing research and technology, rise in healthcare spending capacity, rise in medical tourism in countries such as China and India etc.
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Bone Morphogenetic Protein Market: Players
Some of the major players operating in the global bone morphogenetic protein market are Medtronic, Cellumed Co.Ltd, Sigma-Aldrich Corporation, ProSpec, Ember Therapeutics, DePuy Synthesis among others worldwide. To maintain a significant position in the global market the key players are operating strategies like producing cost effective and efficient product. INFUSE which is manufactured by Medtronic is approved bone morphogenetic protein. It is the most widely accepted product and account for the largest share of the company.
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