Bone Morphogenetic Protein Market Overview
Bone morphogenetic protein (BMPs) is the group of growth factors that belong to beta super family (TGF beta). These proteins are naturally occurring proteins. The family of this protein is involved in various cellular responses. Certain bone morphogenetic protein are said to induce the formation of bones and cartilage that is they are osteoinductive.
Many types of bone morphogenetic proteins are discovered, however only BMP 2, 4, 6, 7 and 9 are said to play a significant role in bone formation. Recombinant bone morphogenetic protein mainly, rh BMP-2 and rh-BMP-7 are used in orthopedic applications such as spinal fusions and oral surgery.
These recombinant proteins are approved for the mentioned application. It is believed that recombinant morphogenetic protein known as rh-BMP-7 can be used in certain kidney diseases.
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.
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.
The report covers exhaustive analysis on
- Market Segments
- Market Dynamics
- Market Size
- Supply & Demand
- Current Trends/Issues/Challenges
- Competition & Companies involved
- Value Chain
Regional analysis includes
- North America (U.S., Canada)
- Latin America (Mexico, Brazil)
- Western Europe (Germany, Italy, U.K, Spain, France, Nordic countries, BENELUX)
- Eastern Europe (Russia, Poland, Rest Of Eastern Europe)
- Asia Pacific Excluding Japan (China, India, ASEAN, Australia & New Zealand)
- Middle East and Africa (GCC, S. Africa, N. Africa, Rest Of MEA)
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain.
The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.