Conventionally, autografts have been the technique of choice for treating injured bone tissues or any other conditions where bone graft substitutes were required. This method entailed harvesting autograft from the patient’s body – or in some cases harvesting allografts animal or human cadaver – in order to heal injured bone tissues.
While these methods were considered effective in treating certain types of spinal disorders, they also came with a set of disadvantages. This has created a whole new market for bone morphogenetic proteins (BMPs), which help mitigate some of the disadvantages that come with autologus and allogenic bone grafting procedures. While this shift is visible, it cannot yet be described as sweeping.
Request a PDF Brochure with Report Analysis: http://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=2308
Recent market research reports corroborate this observation. According to a latest study, the global bone morphogenetic proteins market was estimated to be US$612.601 million as of 2013 and will touch approximately US$587.069 million by 2022. This translates into a CAGR of 2.1% for the period between 2014 and 2022.
The bone morphogenetic proteins market is driven by the fact that this technique helps stimulate the formation of new bones by setting off a process wherein stem cells differentiate into osteoblasts – this has effectively purged the need for bone harvesting. The reduced healing time that BMP products boast will also be one of the greatest drivers for this market.
This, compared with the disadvantages of autografts (such as blood loss, extended healing time, harvest-site stress, and longer duration of hospitalization) will further impel growth in the bone morphogenetic proteins (BMP) market. Furthermore, while autografts are widely regarded as being unsuitable for elderly people, BMPs typically carry no such disadvantage.
The market for BMPs is showing an upward growth graph thanks to improved fusion rate and osteoinduction. This speeds up the healing process, which helps patients shorten their hospital stay and curtail healthcare expenditure.
Companies and healthcare facilities in the global bone morphogenetic proteins market are located across the following major regions: North America, Asia Pacific, Europe, and RoW. Studies show that the bone morphogenetic proteins market was concentrated in North America in 2013, and this region will continue to boast a stronghold through the remainder of the decade.
The preferences of consumers play a central role in the growth of the North America bone morphogenetic proteins market. Patients here opt for BMPs because they are keen on leading an active lifestyle and minimizing discomfort while undergoing bone grafting procedures. At the same time, there has been an increase in the number of people suffering from lower back pain, especially those aged between 40 and 80 years.
The National Institutes of Health’s estimates (2012) reveal that Americans suffered from lower back pain as the most common form of pain, only followed by neck pain. Studies also reveal that about 28.4% Americans visit their physician for treating chronic pain in the lower back – a condition that can be attributed to people leading sedentary lifestyles. These conditions are often treated via spinal fusion procedures in case non-invasive treatments prove ineffective.
Market players also stand to gain from the fact that based on the number of spinal fusion surgeries performed, North America is the global leader. In 2013, 76.5% of all spinal fusion surgeries performed were in North America. The North America BMPs market was followed only by Europe in 2013.Moving forward, the Asia Pacific market, with a surge in the geriatric population here, will show the fastest growth in the BMPs market.
Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information. Our business offerings represent the latest and the most reliable information indispensable for businesses to sustain a competitive edge.
Transparency Market Research
90 State Street, Suite 700
Albany, NY 12207
USA – Canada Toll Free: 866-552-3453