Bone Morphogenetic Protein Market Size, Share, Growth and Trend Analysis Reportby Susan Hill Market Research Analyst
The global bone morphogenetic protein (BMP) market size is expected to reach over USD 644.6 million by 2024, based on a new report by Grand View Research, Inc. Increasing incidence of spinal fusion, trauma, and small bone surgeries coupled with demand for faster bone recovery are the key drivers affirming growth of BMP market.
Low back pain and spinal disc dislocation are some of the most common occupational hazards. Over 75% of such disorders require spinal surgery after noninvasive treatment options are unable to provide any relief. Minimally invasive surgery, shorter hospital stays, and fast recovery are common demands observed among patients. BMP has gained high acceptance among orthopedic surgeons in recent years owing to its ability to cater above mentioned benefits
Sport-related injuries, growing geriatric population, and increasing awareness about osteoinduction products as an alternative to bone grafting are other drivers accentuating market growth. BMP has reported outstanding results over bone graft, such as lack of donor morbidity, extensive surgical procedure, higher recovery time, pain & numbness, and high cost.
Further Key Findings from the Study Suggest:
- rhBMP-2 and
rhBMP-7 are the commercially available recombinant BMPs. rhBMP-2 is widely
known for its high osteoinductive property for faster formation of bone
and cartilage in bone fusion procedures
- rhBMP-2 held
more than half of the market share in 2015. Key attributes contributing
toward its growth are high acceptance, wide range of applications, and
easier availability in developing countries
- rhBMP-7 on the
other hand is expected to witness decline in market share over the
forecast period owing to factors such as limited usage and discontinuation
of OP-1from 2014 by Olympus
- Spinal fusion
held the largest share in 2015. Increasing cases of sport-related spinal
injuries, wide range of product availability, easier usage, and long-term
reliability are major factors for the aforementioned dominance.
- North America held a significant share of over 65.0% in 2015. High number of orthopedic surgical procedures, and availability of favorable reimbursement policies are drivers that can be attributed to for largest share.
Grasp advance knowledge on global bone morphogenetic protein industry through in-depth research insights: www.grandviewresearch.com/research-insights/bone-morphogenetic-protein-market-bmp-insights-size-trends
Created on Sep 12th 2019 05:00. Viewed 19 times.