The bone morphogenetic protein market shows sluggish growth in some areas, according to a Research and Markets report.
Here are eight key trends:
1. The rhBMP-2 segment had the largest share of the market in terms of revenue in 2013. It has been widely accepted by physicians due to effectiveness in treating spinal fusions.
2. The rhBMP-7 is expected to completely diminish from the market after the OP-1/Opgenra withdrawal from the market in August 2014.
3. Spinal fusions account for the largest share of the BMP market, followed by trauma.
4. The reconstructive segment is expected to grow at a low compound annual growth rate through 2022.
5. The growth in the reconstructive segment is slow because of the limited use of BMP products for reconstructive surgery and the presence of well-established alternatives bone graft substitutes.
6. North America accounts for more than 70 percent of the BMP market and is expected to dominate the industry over the next few years.
7. North America is expected to continue leading the market due to high awareness of the BMP products and the availability of premium priced recombinant BMP products. The increased number of spinal fusions also plays a part in the growth.
8. The Asia Pacific market is expected to have the highest BMP growth in the future.