Market Trends of Global Bone Morphogenetic Protein Industry
This section covers the major market trends shaping the Bone Morphogenetic Protein Market according to our research experts:
Spinal Fusion is Expected to Hold the Significant Market Share in the Application Segment
In the application segment, spinal fusion is believed to have notable growth. Bone morphogenetic protein (BMP) is a protein that stimulates the formation of bone in the body and it is widely used in spinal fusion surgery. Studies have revealed that BMP is accepted widely to facilitate fusion at a 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 time taken for surgery, and reduces complication rates, allowing for 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.
Moreover, as per the study published in the National Library of Medicine in May 2022, every year, between 250,000 and 500,000 people worldwide suffer a spinal cord injury. The majority of these cases are the result of preventable factors such as violence and car accidents. Each year, approximately 17,000 new cases of spinal cord injury (SCI) are reported in the United States, with an estimated 282,000 people living with spinal cord injuries. The majority of patients with spinal cord injuries caused by sports injuries are men. The age group from 16 to 30 years old has the highest risk of spinal cord injury. Thus, the high incidence of spinal cord injuries surges the demand for spinal fusion devices over the coming years. Furthermore, the increasing preference for minimally invasive surgeries due to several benefits is propelling the overall market growth.
Thus, the above-mentioned factors are expected to drive the growth of the studied segment during the forecast period.
North America is Expected to have Significant Market Share in the Bone Morphogenetic Protein Market Over the Forecast Period
North America witness significant growth and is expected to continue its stronghold in the market. 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.
According to the article titled published in the National Library of Medicine in August 2020 the United States Food and Drugs Administration approved the protein molecule called rhBMP-2 has become one of the preferred procedures for surgeries associated with bone in the United States. As per the American Association of Neurological Surgeons 2021 report, as many as 450,000 people in the United States were living with a spinal cord injury (SCI). Likewise, according to an article titled '40 Back Pain Statistics (To Send a Shiver Down Your Spine)' updated in January 2022, 80% of Americans experience back pain at some point in their lives, which indicates that there is a great scope for the bone morphogenetic protein usage in the country. Trauma, falls, crashes, and traffic accidents are all common causes of spinal injuries. For instance, the 'Ministry of Communications and Transportation (Mexico)' data updated in September 2020 shows that a total of 8,500 people were injured in road traffic accidents.
Thus the above-mentioned factors are expected to drive the demand for the growth of the market in this region during the forecast period.
