Bone Morphogenetic Protein Market Size Estimated to Reach $3,700 Million by 2026

Bone Morphogenetic Protein Market Size Estimated to Reach $3,700 Million by 2026

“Bone Morphogenetic Protein Market”
Increasing Research and Development Activities in Healthcare Industry Is Set To Further Enhance the Overall Market Demand for Bone Morphogenetic Protein Market

Bone Morphogenetic Protein Market size is estimated to reach $3,700 million by 2026, growing at a CAGR of 6.1% over 2021-2026. Bone morphogenetic are also known as cytokines that helps to maintain and cartilage and ideal to insert specific cells and from a new bone. Bone morphogenetic protein are naturally occurring proteins that are involved in various cellular responses and belong to beta super family. It is used in various orthopedic application such as spinal fusions and oral surgery and are useful for the spinal infusion treatment. This is also called as rh-BMP-7 which helps in the treatment of kidney disease. Bone morphogenetic also plays an important role in the development of central nervous system. Growing prevalence of minimally invasive procedures and increasing technological development in the field of bone morphogenetic protein is the major factor driving the growth of this market. Furthermore, increasing research and development activities in healthcare industry is set to further enhance the overall market demand for Bone Morphogenetic Protein Market for the period 2021-2026.

Bone Morphogenetic Protein Segment Analysis – By Type

The Bone Morphogenetic Protein Market based on Type can be further segmented into rh-BMP-2, and rh-BMP-7. The rh-BMP-2 segment is the major segment generating revenue in 2020. This is mainly owing to increasing adoption of this protein by the physicians and surgeons owing to growing number of sports injuries that increases the demand of rh-BMP-2 and are increasing the growth of this market. The rh-BMP-7 segment is estimated to register the fastest CAGR of 1.05% for the period 2021-2026. This is mainly owing to the effective results in bone grafting that increases the need of rh-BMP-7 and are expanding the growth of this market. 

Bone Morphogenetic Protein Segment Analysis – By Application

The Bone Morphogenetic Protein Market based on Application can be further segmented into Spinal Fusion, Trauma, Reconstruction, and Oral Maxillofacial. The Spinal Fusion segment registers for the highest Lemon Extract market share in 2020. Bone morphogenetic protein (BMP) is a kind of protein that are widely used in spinal fusion surgery as it helps to reduce complications of an iliac crest autograft that increases the demand of this segment and are rising the growth of this market. The Trauma segment is forecasted to register the fastest CAGR of 2% over 2021-2026. This is mainly owing to bone morphogenetic proteins helps recruiting bone-forming cells to the area of trauma that are rising the growth of this market.

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Bone Morphogenetic Protein Segment Analysis – By Geography

North America dominated the Market with major share of 40% in 2020. This is owing to growing advancement in technology, rising healthcare infrastructure and increasing R&D initiatives for the development of bone morphogenetic protein. According to National Spinal Cord Injury Center, more than 17,730 cases of spinal cord injuries occur in U.S. in 2019 that increases the growth of this market.

However, Asia Pacific is estimated to outpace all the regions by clocking the highest CAGR of 3.05% during the forecast period 2021-2026 owing to rising geriatric population and increasing research and development activities in healthcare industry.

Bone Morphogenetic Protein Market Drivers

Growing Prevalence of Minimally Invasive Procedures

Increasing sports related injuries are leading to the prevalence of minimally invasive surgeries that increases the growth of this market. Moreover, rising geriatric population and increasing number of accidents also increases the demand of minimally invasive procedures that helps to expand the growth of the Bone Morphogenetic Protein Market over 2021-2026.

Increasing Technological Development

Increasing technological development in the field of bone morphogenetic protein increases the growth of this Market. Various companies such as Stemgen s.p.a are offering technology such as hrBMP4 that increasing the growth of Bone Morphogenetic Protein Market over 2021-2026.

Covid-19 Impact: 

COVID-19 pandemic had greatly impacted the growth of Bone Morphogenetic Protein Market. Owing to shut down in the manufacturing units, there is an acute shortage in the supply of raw materials that reduces the sales and reduces the growth of health care research and development and are negatively impacted the growth of this market.

Bone Morphogenetic Protein Market Challenges

High Cost of Procedure

The factors that is set to impede the growth of the Bone Morphogenetic Market are the high cost of procedure and availability of alternative treatments is set to create hurdles for the Bone Morphogenetic protein Market. 

Bone Morphogenetic Protein Landscape

Product launches, acquisitions, collaboration, joint ventures, and geographical expansions are key strategies adopted by players in the Bone Morphogenetic protein Market. Bone Morphogenetic protein top 10 companies are Medtronic, Cellumed Co.,Ltd, Sigma-Aldrich Corporation, ProSpec, Ember Therapeutics, DePuy Synthesis, and Others.

Development

In September 2019, Medtronic received FDA approval for the use of Infuse bone graft that allow the usage of bone graft for Transforaminal Lumbar Interbody Fusion (TLIF) spine procedures.

Key Takeaways

Geographically, in 2020, North America dominated the Bone Morphogenetic Protein Market owing to growing advancement in technology, rising healthcare infrastructure and increasing R&D initiatives for the development of bone morphogenetic protein.

Growing prevalence of minimally invasive procedures and increasing technological development in the field of bone morphogenetic protein are likely to aid in the market growth of the Bone Morphogenetic Protein. 

Detailed analysis of the Strength, Weakness, and Opportunities of the prominent manufacturers operating in the market will be provided in the Bone Morphogenetic Protein Market final report. 

High cost of procedure is set to create hurdles for the Bone Morphogenetic Protein Market.

Relevant Reports:

A. Spinal Fusion Market

https://www.industryarc.com/Research/Spinal-Fusion-Market-Research-504267

B. Knee Reconstruction Market

https://www.industryarc.com/Research/Knee-Reconstruction-Market-Research-504320

For more Lifesciences and Healthcare Market reports, please click here

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