What is Bone Morphogenetic Protein Market?
Growth in the number of spinal surgeries and the ease of surgery with the help of BMP, its application is growing quickly in spinal fusion surgery will help to boost global bone morphogenetic protein market in the forecasted market period. 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 many cellular responses. Some bone morphogenetic protein are said to induce the formation of bones and cartilage that is they are osteoinductive.
The market study is being classified by Type (Recombinant Human Bone Morphogenetic Protein (rhBMP) - 2 and Recombinant Human Bone Morphogenetic Protein (rhBMP) -7), by Application (Spinal Fusion, Trauma, Reconstruction and Oral Maxillofacial) and major geographies with country level break-up. According to AMA, the Global Bone Morphogenetic Protein market is expected to see growth rate of 2.5%
DePuy Synthes (United States), Ember therapeutics Inc. (United States), Integra Lifesciences Holdings Corporation (United States), Medtronic PLC (Ireland), R&D Systems (United States), Sigma Aldrich Corporation (United States), Smith & Nephew, Inc. (United Kingdom), Stryker Corporation (United States), Thermo Fischer Scientific (United States) and Zimmer Biomet Holdings, Inc. (United States) are some of the key players profiled in the study. Additionally, the Players which are also part of the research are Fidia (Italy) and TRB Chemedica (Switzerland).
Leading global players are focusing on strategic partnerships to improve their products and services. In addition, companies are focusing on increasing their client base to strengthen market position and to enhance product & service offerings. Research Analyst at AMA predicts that United States Players will contribute to the maximum growth of Global Bone Morphogenetic Protein market throughout the predicted period.
Segment Analysis
Analyst at AMA have segmented the market study of Global Bone Morphogenetic Protein market by Type, Application and Region.
On the basis of geography, the market of Bone Morphogenetic Protein has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). North America region held largest market share in the year 2020. Europe on the other hand stood as second largest market due to the presence of key companies into the region and high technological advancement. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Market Drivers
- Increasing Occurrences of Sports-Related Injury
- Growing Demand for Minimally Invasive Surgeries
Market Trend
- Upsurge in Medical Tourism in Emerging Countries
- Technological Advancements in Bone Morphogenetic
Restraints
Opportunities
- Rising Awareness among the People about Bone Morphogenetic Protein
- Increase in Healthcare Spending Capacity
Challenges
- Alternative Treatment Availability
Key Target Audience
Government Research Organization, Private Research Organization, Government Regulatory Bodies, Industry Association, Downstream Vendors and Others