Bone Morphogenetic Protein Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 2.50 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Bone Morphogenetic Protein Market Analysis
The bone morphogenetic protein market is expected to grow with a CAGR of 2.5% during the forecasted period.
The COVID-19 outbreak is an unprecedented health concern and has significantly impacted the orthobiologics market globally. According to a 2021 update by the National Safety Council (NSC) in America, the Consumer Product Safety Commission (CPSC) reported that during the first seven months of the COVID-19 pandemic, visits to emergency departments for consumer product-related injuries decreased by 24%. The highest decrease in injuries was sports-related injuries associated with track and field. Hockey, soccer, baseball, football, and basketball witnessed a more than 60% reduction from March through September 2020. Thus, the COVID-19-imposed lockdown impacted the bone morphogenetic protein market significantly. However, with a better screening process, the market is now opening up, increasing growth. For instance, in April 2022, an article published in the Europe PMC stated that after a year of maintaining 'non-COVID' hospital status for elective surgery, restrictions began to ease as the COVID-19 positivity rate dropped to 1.2% in Nassau County, New York on 1 May 2021. On 3 May 2021 on-site pre-surgical testing (PST) appointments resumed. Currently as the pandemic has subsided the market has gaines some traction, thus it is expected to have a stable growth during the forecast period of the study.
The key factors that are responsible for the growth of the market include the growth in the incidences of sports-related injuries, the growing demand for minimally invasive surgeries, and technological advancements that are being done in the field of bone morphogenetic protein. According to the Centre for Disease Control and Prevention, the number of people participating in sports is increasing across both developing and developed nations, ultimately leading to increased sports injuries. The article, titled 'Arm Injury Statistics' in 2021 reported that 6 million people in the United States broke a bone each year. In those over age 75, hip fractures become the most common broken bone. Fractures account for 16% of all musculoskeletal injuries in the United States annually. More than 40% of fractures occur at home. Therefore, the increasing incidence of bone fractures in the aging population, mainly hip fractures requires assistance for routine activities. This is expected to boost the requirement for bone morphogenetic protein for patients. As the number of such sports-related injuries is increasing, there is a growing demand for bone morphogenetic protein, which helps people who need to form bone.
Increasing injuries such as spinal cord injuries are expected to increase the minimally invasive surgeries which is expected to increase market growth. As per the Spinal Cord Injuries Australia (SCIA), a non-government organization, approximately 15,000 people in Australia have spinal cord injuries (SCIs) in 2020. According to the data published by the United Kingdom Spinal Injury Association, in 2021, approximately 2500 people are injured or diagnosed with spinal cord injuries each year, with an estimated 50,000 people in the United Kingdom living with them. Thus, increasing incidences of sports-related injuries, the growing demand for minimally invasive surgeries, and technological advancements are expected to increase market growth.
However, high cost of procedures coupled with the availability of alternative treatments are expected to hinder the market growth.
Bone Morphogenetic Protein Market Trends
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.
Bone Morphogenetic Protein Industry Overview
The Bone Morphogenetic Protein Market is moderately competitive and consists of several companies. In terms of market share, a small number of major players currently dominate the market. However, with technological advancement and product innovation, mid-size to smaller companies are increasing their market presence by introducing new products at affordable prices. Companies like Medtronic Inc., Stryker Corporation, and Thermo Fischer Scientific hold a substantial market share.
Bone Morphogenetic Protein Market Leaders
Medtronic plc.
Stryker Corporation
Thermo Fischer Scientific
Merck KGaA
Johnson & Johnson
*Disclaimer: Major Players sorted in no particular order
Bone Morphogenetic Protein Market News
- In August 2022, Orthofix Medical Inc. entered into a strategic partnership agreement with CGBio, for the clinical development and commercialization of Novosis recombinant human bone morphogenetic protein-2 (rhBMP-2) bone growth materials and other future tissue regenerative solutions for the United States and Canadian markets.
- In February 2022, Orthofix Medical launched Opus BA, for cervical and lumbar spine fusion procedures. Acting as a scaffold, Opus BA allows the bone to grow across the surface and is reabsorbed and replaced with a natural bone while healing.
Bone Morphogenetic Protein Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Growing Incidences of Sports-related Injury
4.2.2 Rising Demand for Minimally Invasive Surgeries
4.2.3 Technological Advancements
4.3 Market Restraints
4.3.1 High Cost of Procedure
4.3.2 Alternative Treatment Availability
4.4 Porter's Five Force Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION (Market Size by Value - USD million)
5.1 By Type
5.1.1 Recombinant Human Bone Morphogenetic Protein (rhBMP) - 2
5.1.2 Recombinant Human Bone Morphogenetic Protein (rhBMP) -7
5.2 By Application
5.2.1 Spinal Fusion
5.2.2 Trauma
5.2.3 Reconstructive Surgery
5.2.4 Oral-maxillofacial
5.3 Geography
5.3.1 North America
5.3.1.1 United States
5.3.1.2 Canada
5.3.1.3 Mexico
5.3.2 Europe
5.3.2.1 Germany
5.3.2.2 United Kingdom
5.3.2.3 France
5.3.2.4 Italy
5.3.2.5 Spain
5.3.2.6 Rest of Europe
5.3.3 Asia-Pacific
5.3.3.1 China
5.3.3.2 Japan
5.3.3.3 India
5.3.3.4 Australia
5.3.3.5 South korea
5.3.3.6 Rest of Asia-Pacific
5.3.4 Middle East & Africa
5.3.4.1 GCC
5.3.4.2 South Africa
5.3.4.3 Rest of Middle East & Africa
5.3.5 South America
5.3.5.1 Brazil
5.3.5.2 Argentina
5.3.5.3 Rest of South America
6. COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 Johnson & Johnson
6.1.2 Ember therapeutics Inc.
6.1.3 Integra Lifesciences Holdings Corporation
6.1.4 Medtronic PLC
6.1.5 Bio-Techne (R&D Systems, Inc.)
6.1.6 Merck KGaA
6.1.7 Pfizer, Inc.
6.1.8 Stryker Corporation
6.1.9 Thermo Fischer Scientific
6.1.10 Zimmer Biomet Holdings, Inc.
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
Bone Morphogenetic Protein Industry Segmentation
As per the scope of the report, bone morphogenetic proteins (BMPs) are signaling molecules and most are a part of the Transforming Growth Factor-β (TGFβ) family of proteins. BMPs have an important role in bone and cartilage formation and embryogenesis. The Bone Morphogenetic Protein Market is Segmented by Type (Recombinant Human Bone Morphogenetic (rhBMP)- 2 and Recombinant Human Bon Morphogenetic Protein (rhBMP) - 7), Application (Spinal Fusion, Trauma, Reconstructive Surgery, Oral-maxillofacial), and Geography (North America, Europe, Asia-Pacific, Middle East and Africa, and South America). The market report also covers the estimated market sizes and trends for 17 different countries across major regions, globally. The report offers the value (in USD million) for the above segments.
| By Type | |
| Recombinant Human Bone Morphogenetic Protein (rhBMP) - 2 | |
| Recombinant Human Bone Morphogenetic Protein (rhBMP) -7 |
| By Application | |
| Spinal Fusion | |
| Trauma | |
| Reconstructive Surgery | |
| Oral-maxillofacial |
| Geography | ||||||||
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Bone Morphogenetic Protein Market Research FAQs
What is the current Global Bone Morphogenetic Protein Market size?
The Global Bone Morphogenetic Protein Market is projected to register a CAGR of 2.5% during the forecast period (2024-2029)
Who are the key players in Global Bone Morphogenetic Protein Market?
Medtronic plc., Stryker Corporation, Thermo Fischer Scientific, Merck KGaA and Johnson & Johnson are the major companies operating in the Global Bone Morphogenetic Protein Market.
Which is the fastest growing region in Global Bone Morphogenetic Protein Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Global Bone Morphogenetic Protein Market?
In 2024, the North America accounts for the largest market share in Global Bone Morphogenetic Protein Market.
What years does this Global Bone Morphogenetic Protein Market cover?
The report covers the Global Bone Morphogenetic Protein Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Global Bone Morphogenetic Protein Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Bone Morphogenetic Protein Industry Report
Statistics for the 2024 Bone Morphogenetic Protein market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Bone Morphogenetic Protein analysis includes a market forecast outlook 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
