The “Bone Morphogenetic Protein Market“ Report companies operating in the market are incessantly focusing on the implementation of various strategies in order to retain their positions in the market. Decrease in prices, implementation of more efficient technology, broader product portfolio, and long term supply relations with key end-use industries as well as localized manufacturers are the core strategies of the leading players to amplify consumer base and market share.
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Bone Morphogenetic Protein Market study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.
The global bone morphogenetic protein market was valued at USD 604.5 million in 2018 and is estimated to be valued at USD 620.21 million in 2024, witnessing a CAGR of 2.5%. The key factors that are responsible for the growth of the market include the growth in the incidences of sports-related injuries, the growing demand for minimally invasive surgeries, and technological advancements that are being done in the field of the bone morphogenetic protein.
According to the Centre for Disease Control and Prevention, the number of people participating in sports is increasing across both developing and developed nations, and this is ultimately leading to an increased number of sports injuries. Approximately, 8.6 million individuals are getting injured during sports annually, as stated by the National Institute of Health (NIH). This accounts for 34.1 people per 1,000. Spinal injury is the most frequent injury that was seen among the injured population during NIH survey.
As the number of such sports-related injury is increasing, there is a growing demand for bone morphogenetic protein, as this protein helps people who need to obtain bone formation.
Scope of the Report
Bone morphogenetic proteins (BMPs) are signaling molecules and most are a part of the Transforming Growth Factor-? (TGF?) family of proteins. BMPs have an important role in bone and cartilage formation, and embryogenesis. This report includes a detailed analysis of the types and applications of bone morphogenetic proteins.
Key Market Trends
Spinal Fusion is Expected to Hold the Highest Market Share in the Application Segment
In the application segment, spinal fusion is believed to have the largest market size.
Bone morphogenetic protein (BMP) is a protein which stimulates the formation of bone in the body and it is widely used in the spinal fusion surgery. Studies have revealed that BMP is accepted widely to facilitate the fusion at the rate greater than that of traditional bone graft surgery. Due to this reason, BMP gives the surgeon the freedom to perform the surgery with the ease of the improved fusion rate, which avoids the complications of an iliac crest autograft (hip) graft harvest. When the hip graft is avoided, it shortens the amount of the time taken for surgery, and reduces complication rates, allowing for a quicker and less painful recovery time.
With the rise in the number of spinal surgeries and the ease of surgery with the help of BMP, its application is increasing rapidly in spinal fusion surgery.
North America Dominates the Market and Expected to do Same in the Forecast Period
North America currently dominates the market and is expected to continue its stronghold for a few more years. A well-established healthcare system and the adoption of novel technologies in the region are the prime factors responsible for the growth of the market in this region.
The US FDA approved the protein molecule called rhBMP-2 in 2002, which later became the preferred procedure for the surgeries associated with bone in the United States. As per the data published by the National Institute of Health, approximately 1.62 million spinal fusion surgeries are performed annually in the United States, which indicates that there is a great scope for the BMP usage in the country.
The market is moderately competitive and consists of several companies. In terms of market share, a small number of major players currently dominate the market. However, with technological advancement and product innovation, mid-size to smaller companies are increasing their market presence by introducing new products at affordable prices. Companies like Medtronic Inc., Sigma Aldrich Corporation, Stryker Corporation, Thermo Fischer Scientific, and DePuy Synthes hold a substantial market share.
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Bone Morphogenetic Protein Market Analyse according to leading players, Competitive landscape, geographical regions, top manufacturers, types, and applications forecast over a period of 2019 to 2024. Geographically, this report is divided into many key Regions, with production, consumption, revenue (million USD), market share and rate of Bone Morphogenetic Protein Market 2019 in these regions, from 2018 to 2024 (forecast), covering: North America, China, Europe, Japan, Southeast Asia, India.
The Objectives of this report are:
- To define, describe, and analyze the Bone Morphogenetic Protein market on the basis of product type, application, and region
- To forecast and analyze the size of the Bone Morphogenetic Protein market (in terms of value) in six key regions, namely, Asia Pacific, Western Europe, Central & Eastern Europe, North America, the Middle East & Africa, and South America
- To forecast and analyze the Bone Morphogenetic Protein market at country-level in each region
- To strategically analyze each submarket with respect to individual growth trends and its contribution to the Bone Morphogenetic Protein market
- To analyze opportunities in the Bone Morphogenetic Protein market for stakeholders by identifying high-growth segments of the market
Key Questions Answered in Bone Morphogenetic Protein market report:
- What will the market size be in 2024 and what will the growth rate be?
- What are the key market trends?
- What is driving this market?
- What are the challenges to market growth?
- Who are the key vendors in this market space?
- What are the market opportunities and threats faced by the key vendors?
- What are the strengths and weaknesses of the key vendors?
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Bone Morphogenetic Protein Market Report Provides Comprehensive Analysis as Following:
Market segments and sub-segments
Market size & shares
Market trends and dynamics
Market Drivers and Opportunities
Market Analysis and Segmentation
Supply and demand
Technological inventions in Bone Morphogenetic Protein trade
Marketing Channel Development Trend
Bone Morphogenetic Protein Market Positioning
Distributors/Traders List enclosed in Positioning Bone Morphogenetic Protein Market
Bone Morphogenetic Protein Market report provides you a visible, one-stop breakdown of the leading product, submarkets and market leaders revenue forecasts till 2024. In conclusion, Bone Morphogenetic Protein Market 2019 report presents the descriptive analysis of the Bone Morphogenetic Protein Market Major Key-players, Types, Application and Forecast Period knowledge which is able to function a profitable guide for all the Bone Morphogenetic Protein Market competitors.
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