Rising incidences of colon cancer and spinal fusion surgeries are anticipated to drive the global Bone Morphogenetic Protein (BMP) market over the forecast period. Huge investment in R&D coupled with introduction of novel drugs and devices for orthopedic conditions are expected to provide functionally stronger bone and heal bone damage comparatively faster. Growing geriatric population base, increasing surge in trauma & sports related injuries and rising demand for minimal invasive surgeries are expected to trigger the growth of bone morphogenetic protein market over the forecast period. Furthermore, rising disorders of lower back owing to changing lifestyle is anticipated to increase the demand for spinal surgeries are likely to boost the market in coming seven years. In addition rising personal disposable income, growing medical tourism, improving healthcare infrastructure, and favorable government policies are supporting factors for the growth of this market. The emerging nations are anticipated to provide significant growth opportunity owing to growing number of Contract Research Organization (CRO) and increasing disposable income.
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RhBMP-2 and rhBMP-7 held the largest market share owing to significant role in bone formation and commercial availability in the market. RhBMP-2 market is expected to witness lucrative growth rate over the forecast period owing to its application in treatment of spinal disorders. By application, trauma and spinal fusion segments held the largest market share in 2014. Owing to increasing incidences of cancer and sports associated injuries, this segment is expected to continue its dominance in coming seven years.
North America held the largest market share in 2014 owing to rising demand for minimal invasive surgeries, technological advancement and high medical reimbursement facilities. Asia Pacific region is anticipated to show highest growth over the forecast period due to growing awareness about success of BMP surgeries, rising medical tourism and increasing expenditure in healthcare sector.
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Strategic collaboration, joint ventures and product portfolio expansion are business development activities which are adopted by the BMP market players. Major players of bone morphogenetic protein market are Cellumed Co. Ltd, De Puy, Biopharm GmBH, Stryker Corporation and Medtronic. The market is oligopolistic in nature and there is strong barrier to enter this industry.
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