The new report by Expert Market Research titled, ‘Global Bone Morphogenetic Proteins Market Research, Size, Growth, Analysis, Report and Forecast 2022-2027’, gives an in-depth analysis of the Global Bone Morphogenetic Proteins Market, assessing the market based on its segments such as types, applications, and major regions. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analyzing the market based on the SWOT and Porter’s Five Forces models.
The key highlights of the report include:
Market Overview (2017-2027)
• Forecast CAGR (2022-2027):2.3%
Bone morphogenetic proteins group stimulates the formation of bone and cartilage and influences several non-osteogenic processes. Due to their osteogenic effect, bone morphogenetic proteins are employed in several areas of medicine, including dentistry, orthopedics, sport, and rehabilitation. Such applications are expected to drive the global bone morphogenetic proteins market. The growing number of persons suffering from spinal injuries and an increase in surgery rates are the major market drivers. Manufacturers’ extensive research into the therapeutic potential of BMP in additional orthopedic conditions, such as soft tissue repair and osteoarthritis, is expected to enhance the growth even further. Moreover, increasing surgeon awareness of the use of Rh BMPs, increased healthcare expenditure capacity, and growing medical tourism in several countries, such as China and India, are factors contributing to the fastest growth.
Industry Definition and Major Segments:
Bone morphogenetic proteins (BMPs) are the general name for a family of proteins that were discovered in demineralized bone extracts to be capable of stimulating bone growth at ectopic locations. Bone morphogenetic proteins are found in small concentrations in bone material (almost 1 microgram/kg dry weight of bone).
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By type, the market is segmented into:
• Recombinant Human Bone Morphogenetic Protein (Rh BMP) – 2
• Recombinant Human Bone Morphogenetic Protein (Rh BMP) -7
The major applications of the market are:
• Spinal Fusion
• Reconstructive Surgery
On the basis of region, the market is segmented into:
• North America
• Asia Pacific
• Latin America
• Middle East and Africa
Key factors contributing towards the market growth include the increasing number of spinal injuries, sedentary lifestyle coupled with sport-related injuries, bad posture, and increasing cases of osteoporosis. Also, the presence of favourable reimbursement policies for spine infusion procedures, as well as and the increased knowledge regarding minimally invasive BMP techniques, is expected to boost propel the global market adoption. Established healthcare infrastructure, high adoption of advanced technology by orthopedic surgeons, increasing base of the geriatric population susceptible to bone degeneration and high research and development initiatives for the development of novel BMPs, are some of the other major factors propelling the market growth.
Key Market Players:
The major players in the market are Thermo Fisher Scientific, Inc., Medtronic plc, Prospec-Tany Technogene Ltd., and Merck KGaA, among others.
The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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