BONE MORPHOGENETIC PROTEIN MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2024 - 2031)
Global bone morphogenetic protein market is estimated to be valued at USD 342.3 Mn in 2024 and is expected to reach USD 444.5 Mn by 2031, exhibiting a compound annual growth rate (CAGR) of 3.8% from 2024 to 2031. Global bone morphogenetic protein market has been witnessing notable growth in the past few years, owing to increasing prevalence of orthopedic diseases and rising number of spinal fusion surgeries. Bone morphogenetic proteins (BMPs) belong to the transforming growth factor-β (TGF-β) superfamily. BMPs play an important role in bone formation and regulate osteoblast differentiation and matrix mineralization. They have been approved for use in spinal fusion and long bone fracture healing. Various clinical and preclinical studies investigating their effectiveness and safety have demonstrated their potential to induce new bone formation. With rising awareness regarding their benefits and commercial availability of these novel biologics, the bone morphogenetic protein market is expected to experience significant growth over the forecast period.
Market Dynamics:
The primary growth drivers for the global bone morphogenetic protein market include rising geriatric population and subsequent increase in orthopedic surgeries and diseases, increasing prevalence of spinal disorders, lack of alternative treatment options, and commercial availability and adoption of bone morphogenetic proteins. However, shortcomings related to safety concerns over BMP use and high costs are expected to restrain the market growth. Ongoing research and development activities focusing on developing safer and affordable BMP formulations is expected to create lucrative opportunities for market players over the next few years.
Key Features of the Study:
- This report provides in-depth analysis of the global bone morphogenetic protein market, and provides market size (US$ Million) and compound annual growth rate (CAGR%) for the forecast period (2024–2031), considering 2023 as the base year
- It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market
- This study also provides key insights about market drivers, restraints, opportunities, new product launches or approvals, market trends, regional outlook, and competitive strategies adopted by key players
- It profiles key players in the global bone morphogenetic protein market based on the following parameters – company highlights, products portfolio, key highlights, financial performance, and strategies
- Key companies covered as a part of this study include Medtronic, Stryker, DePuy Synthes, NuVasive, Orthofix Holdings, Smith & Nephew, Thermo Fisher Scientific, R&D Systems, Ember Therapeutics, Sigma Aldrich Co., Cellumed Co. Ltd., ProSpec, Wright Medical Group N.V., Amedica Corporation, and Bioventus
- Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics
- The global bone morphogenetic protein market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts
- Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global bone morphogenetic protein market
Market Segmentation
Market Segmentation
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