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Add to CartGlobal Bone Morphogenetic Protein Market Growth, Share, Size, Trends and Forecast (2024 - 2030)
By Type;
Recombinant human bone morphogenetic protein-2 (rhBMP-2) and Recombinant human bone morphogenetic protein-7 (rhBMP-7).By Application;
Spinal Fusion, Trauma, Reconstructive Surgery and Oral-Maxillofacial.By Geography;
North America, Europe, Asia Pacific, Middle East and Africa and Latin America - Report Timeline (2020 - 2030).Introduction
Global Bone Morphogenetic Protein Market (USD Million), 2020 - 2030
In the year 2023, the Global Bone Morphogenetic Protein Market was valued at USD 1,387.95 million. The size of this market is expected to increase to USD 2,425.35 million by the year 2030, while growing at a Compounded Annual Growth Rate (CAGR) of 8.3%.
The COVID-19 pandemic has significantly impacted the orthobiologics market, particularly the bone morphogenetic protein segment, due to lockdown measures and reduced hospital visits during the peak of the outbreak. However, as the pandemic situation improves and healthcare facilities resume elective surgeries, the market is witnessing a gradual recovery. The easing of restrictions and resumption of surgical procedures indicate a positive trend, leading to stabilized growth prospects for the bone morphogenetic protein market during the forecast period.
Key drivers of market growth include the increasing incidence of sports-related injuries globally, which necessitate the use of orthobiologics such as bone morphogenetic proteins for bone repair and regeneration. With a rising number of people engaging in sports activities, the demand for treatments that facilitate bone healing is expected to grow steadily. Moreover, advancements in technology in the field of bone morphogenetic proteins contribute to enhanced treatment outcomes and expanded applications, further driving market growth.
In addition to sports-related injuries, the aging population is prone to bone fractures, particularly hip fractures, which require assistance for routine activities. This demographic trend is anticipated to fuel demand for bone morphogenetic proteins as part of the treatment regimen for bone fractures, thereby contributing to market growth. As fractures account for a significant proportion of musculoskeletal injuries globally, the need for effective bone healing solutions remains high.
The increasing prevalence of spinal cord injuries is expected to drive the demand for minimally invasive surgical interventions, where bone morphogenetic proteins play a crucial role in promoting bone fusion and regeneration. The growing number of spinal cord injury cases in regions such as Australia and the United Kingdom underscores the need for advanced treatment options, thereby stimulating market growth.
Challenges such as the high cost of procedures associated with bone morphogenetic protein treatments and the availability of alternative treatments may hinder market growth to some extent. Cost considerations and accessibility issues could pose barriers, particularly in regions with limited healthcare resources or reimbursement constraints. Nonetheless, ongoing research and development efforts aimed at improving cost-effectiveness and addressing these challenges are expected to support market expansion in the long run.
Global Bone Morphogenetic Protein Market Report Snapshot
| Parameters | Description |
|---|---|
| Market | Global Bone Morphogenetic Protein Market |
| Study Period | 2020 - 2030 |
| Base Year (for Bone Morphogenetic Protein Market Size Estimates) | 2023 |
| Drivers |
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| Restraints |
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| Opportunities |
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Segment Analysis
This report extensively covers different segments of Global Bone Morphogenetic Protein Market and provides an in depth analysis (including revenue analysis for both historic and forecast periods) for all the market segments. In this report, the analysis for every market segment is substantiated with relevant data points and, insights that are generated from analysis of these data points (data trends and patterns).
Global Bone Morphogenetic Protein Segment Analysis
In this report, the Global Bone Morphogenetic Protein Market has been segmented by Type, Application and Geography.
Global Bone Morphogenetic Protein Market , Segmentation by Type
The Global Bone Morphogenetic Protein Market has been segmented by Type into Recombinant human bone morphogenetic protein-2 (rhBMP-2) and Recombinant human bone morphogenetic protein-7 (rhBMP-7).
Recombinant BMP-2 (rhBMP-2) and recombinant BMP-7 (rhBMP-7) are FDA-approved BMPs renowned for their potent osteoinductive properties, facilitating bone and cartilage regeneration at injury sites. Among them, rhBMP-2 has enjoyed widespread approval for various therapeutic uses since its initial endorsement for spinal fusion in 2002. Subsequent approvals for treating tibia fractures/trauma, oral maxillofacial injuries, and additional applications in spinal fusion in 2015 have further solidified its dominant market position.
INFUSE, manufactured by Medtronic, has been a prominent player in the rhBMP-2 market since its approval. However, a significant recall of INFUSE units between 2010 and 2011 led to a substantial decline in this segment's revenue share. Despite the recall setback, the rhBMP-2 segment has since demonstrated stable growth, with an estimated compound annual growth rate (CAGR) projected over the forecast period.
Global Bone Morphogenetic Protein Market , Segmentation by Application
The Global Bone Morphogenetic Protein Market has been segmented by Application into Spinal Fusion, Trauma, Reconstructive Surgery and Oral-Maxillofacial.
Spinal fusion, trauma, reconstruction, and repair of oral maxillofacial bones are the primary applications of BMP as studied in this report. Research conducted in academic and research institutes globally has focused on uncovering the novel therapeutic potential of BMPs, particularly in areas such as dentistry and joint replacement surgery.
Spinal fusion accounted for over half of the BMP market share in the studied period. Degenerative disc disorders of the spine can result from sports injuries, accidental falls, or osteoporosis in the aging population. With approximately one in every three individuals aged above 65 years in the U.S. experiencing a fall annually, the demand for spinal fusion procedures is expected to rise. Moreover, the presence of favorable reimbursement policies for spine fusion procedures and increasing awareness about minimally invasive BMP procedures are anticipated to further drive the adoption of this segment.
Global Bone Morphogenetic Protein Market, Segmentation by Geography
In this report, the Global Bone Morphogenetic Protein Market has been segmented by Geography into five regions; North America, Europe, Asia Pacific, Middle East and Africa and Latin America.
Global Bone Morphogenetic Protein Market Share (%), by Geographical Region, 2023
North America emerged as a leading revenue generator in 2015, surpassing USD 340.0 million, driven by its well-established healthcare infrastructure, widespread adoption of advanced orthopedic technologies by surgeons, and a favorable reimbursement landscape. Following closely, Europe exhibited robust growth prospects, propelled by its expanding geriatric population prone to bone degeneration and substantial investments in research and development endeavors aimed at advancing novel BMP formulations.
The Asia Pacific region is poised to witness the fastest growth trajectory over the forecast period, capturing an estimated share of around 6.0%. Surgeons in the region are increasingly recognizing the benefits of rhBMPs, spurring their adoption rates. Moreover, rising healthcare expenditure capacities and the burgeoning medical tourism sector in countries like India and China further contribute to the region's rapid market expansion. As awareness continues to grow and healthcare infrastructure matures across Asia Pacific, the demand for BMPs is anticipated to escalate significantly, driving robust market growth in the region.
Market Trends
This report provides an in depth analysis of various factors that impact the dynamics of Global Bone Morphogenetic Protein Market. These factors include; Market Drivers, Restraints and Opportunities Analysis.
Drivers, Restraints and Opportunities
Drivers:
- Rising Incidence of Bone Fractures and Orthopedic Injuries
- Increasing Geriatric Population
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Growing Demand for Minimally Invasive Surgeries: The increasing adoption of minimally invasive surgical techniques represents a significant opportunity for the bone morphogenetic protein (BMP) market. Minimally invasive procedures offer several advantages over traditional open surgeries, including reduced postoperative pain, shorter hospital stays, and faster recovery times. These benefits contribute to improved patient outcomes and satisfaction, driving the preference for minimally invasive approaches among both patients and healthcare providers.
In minimally invasive orthopedic procedures, such as spinal fusion surgeries and joint replacements, bone morphogenetic proteins play a crucial role in promoting bone fusion and facilitating the healing process. By stimulating bone growth and regeneration, BMPs help achieve successful outcomes in these procedures, enhancing the overall effectiveness of minimally invasive interventions. As the demand for minimally invasive techniques continues to rise, driven by patient preferences for less invasive treatments and healthcare providers' focus on improving surgical outcomes, the demand for bone morphogenetic proteins is expected to grow proportionately.
The versatility of bone morphogenetic proteins in various orthopedic interventions underscores their importance in the evolving landscape of minimally invasive surgery. With advancements in medical technology and ongoing research in orthobiologics, the potential applications of BMPs in minimally invasive procedures are expanding, further driving market growth. Manufacturers and healthcare providers are increasingly recognizing the value of BMPs in enhancing bone healing and promoting successful surgical outcomes, thereby fueling the demand for these innovative orthobiologics in the global market.
Restraints:
- Availability of Alternative Treatments
- Regulatory Challenges
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Adverse Events and Safety Concerns: Adverse events and safety concerns linked to bone morphogenetic protein (BMP) treatments represent significant hurdles for market growth. Despite the proven efficacy of BMPs in facilitating bone healing, reports of adverse reactions like inflammation, ectopic bone formation, and immunogenicity in certain patients have raised apprehensions among healthcare providers and patients alike. Such safety concerns not only undermine confidence in BMP treatments but also contribute to hesitancy in their adoption, leading to a restrained market penetration and limiting growth potential.
Addressing these safety concerns is paramount for sustaining the growth trajectory of the BMP market. Manufacturers and regulatory bodies must collaborate to conduct comprehensive safety assessments and clinical trials to better understand and mitigate the risks associated with BMP treatments. Furthermore, educating healthcare professionals and patients about the benefits and risks of BMP therapies, along with implementing stringent monitoring and reporting mechanisms for adverse events, can help build trust and confidence in the safety profile of BMPs. By addressing these concerns proactively, stakeholders can work towards fostering a conducive environment for the continued growth and acceptance of BMP treatments in orthopedic practice.
Opportunities:
- Expansion into Emerging Markets
- Diversification of Applications
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Integration with Regenerative Medicine: The integration of bone morphogenetic proteins (BMPs) with regenerative medicine approaches represents a promising avenue for advancing treatment modalities in musculoskeletal disorders and injuries. By combining BMPs with regenerative techniques such as stem cell therapy and tissue engineering, synergistic effects can be achieved, leading to enhanced therapeutic outcomes. This integration facilitates tissue regeneration and accelerates bone formation, ultimately improving overall patient outcomes and recovery.
Manufacturers have the opportunity to capitalize on this trend by exploring collaborations with experts in regenerative medicine or developing proprietary technologies that seamlessly integrate BMPs with regenerative techniques. By leveraging the synergies between BMPs and regenerative strategies, advanced and comprehensive treatment options can be offered to patients, addressing a wide range of musculoskeletal conditions. As personalized medicine and holistic approaches to patient care continue to gain traction, the integration of BMPs with regenerative medicine aligns with these trends, presenting lucrative opportunities for market growth and innovation in the field.
Competitive Landscape Analysis
Key players in Global Bone Morphogenetic Protein Market include
- Cellumed Co, Ltd.
- Medtronic plc
- Stryker Corporation
In this report, the profile of each market player provides following information:
- Company Overview and Product Portfolio
- Key Developments
- Financial Overview
- Strategies
- Company SWOT Analysis
- Introduction
- Research Objectives and Assumptions
- Research Methodology
- Abbreviations
- Market Definition & Study Scope
- Executive Summary
- Market Snapshot, By Type
- Market Snapshot, By Application
- Market Snapshot, By Region
- Global Bone Morphogenetic Protein Market Dynamics
- Drivers, Restraints and Opportunities
- Drivers
- Rising Incidence of Bone Fractures and Orthopedic Injuries
- Increasing Geriatric Population
- Growing Demand for Minimally Invasive Surgeries
- Restraints
- Availability of Alternative Treatments
- Regulatory Challenges
- Adverse Events and Safety Concerns
- Opportunities
- Expansion into Emerging Markets
- Diversification of Applications
- Integration with Regenerative Medicine
- Drivers
- Regulatory Scenario
- Pipeline Analysis/Technological Advancements
- PEST Analysis
- Political Analysis
- Economic Analysis
- Social Analysis
- Technological Analysis
- Porter's Analysis
- Bargaining Power of Suppliers
- Bargaining Power of Buyers
- Threat of Substitutes
- Threat of New Entrants
- Competitive Rivalry
- Drivers, Restraints and Opportunities
- Market Segmentation
- Global Bone Morphogenetic Protein Market , By Type, 2020 - 2030 (USD Million)
- Recombinant human bone morphogenetic protein-2 (rhBMP-2)
- Recombinant human bone morphogenetic protein-7 (rhBMP-7)
- Global Bone Morphogenetic Protein Market , By Application, 2020 - 2030 (USD Million)
- Spinal Fusion
- Trauma
- Reconstructive Surgery
- Oral-Maxillofacial
- Global Bone Morphogenetic Protein Market , By Geography, 2020 - 2030 (USD Million)
- North America
- United States
- Canada
- Europe
- Germany
- United Kingdom
- France
- Italy
- Spain
- Nordic
- Benelux
- Rest of Europe
- Asia Pacific
- Japan
- China
- India
- Australia & New Zealand
- South Korea
- ASEAN (Association of South East Asian Countries)
- Rest of Asia Pacific
- Middle East & Africa
- GCC
- Israel
- South Africa
- Rest of Middle East & Africa
- Latin America
- Brazil
- Mexico
- Argentina
- Rest of Latin America
- North America
- Global Bone Morphogenetic Protein Market , By Type, 2020 - 2030 (USD Million)
- Competitive Landscape
- Company Profiles
- Cellumed Co, Ltd.
- Medtronic plc
- Stryker Corporation
- Company Profiles
- Analyst Views
- Future Outlook of the Market
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