5 trends in the global BMP market: US has 76% of the market

Here are five key trends in the bone morphogenetic proteins market, according to a Transparency Market Research report.
1. The global bone morphogenetic proteins market is estimated at $612.6 million in 2013 and is expected to reach $587 million by 2022. The market is expected to grow at a compound annual growth rate of 2.1 percent through 2022.

2. The BMP market is driven by the technique that helps stimulate bone formation in a process wherein stem cells differentiate osteoblasts, eliminating the need to harvest bone to stimulate fusion. The reduced healing time with BMP products also drives the market.

3. The BMP market is showing upward growth due to improved fusion rates and osteoinduction. The faster healing process shortens hospital stay and lowers healthcare expenditure. Additionally, autograft disadvantages, like blood loss and extended healing time, make BMPs an attractive option.

4. North America Asia Pacific and Europe are the major countries for BMP use. The BMP market was concentrated in North America in 2013 and North America is expected to maintain this stronghold over the next five years while the Asia Pacific market has the biggest growth potential.

5. In 2013, 76.5 percent of all spinal fusion surgeries were performed in North America; followed by Europe and the Asia Pacific market. The growing elderly population and demand for an active lifestyle with minimum discomfort drives the interest in BMP.

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