Bone Morphogenetic Protein Market to Grow with a CAGR of 3.22% through 2028
Aging population, minimally invasive surgical trends,
and expanding applications are expected to drive the Global Bone Morphogenetic
Protein Market growth in the forecast period, 2024-2028.
According to TechSci Research report, “Bone
Morphogenetic Protein Market – Global Industry Size, Share,
Trends, Competition Forecast & Opportunities, 2028”, the Global Bone
Morphogenetic Protein Market stood at USD 710.43 million in 2022 and is
anticipated to grow with a CAGR of 3.22% in the forecast period, 2024-2028.
This can be attributed to technological advancements. Continuous research and
development efforts by companies in the healthcare and biotechnology sectors
are leading to advancements in BMP products. These innovations aim to make BMPs
safer, more effective, and easier to use. Furthermore, new delivery systems and
formulations are emerging, providing healthcare professionals with more options
and flexibility in their treatments. Additionally, biocompatible materials and
scaffolds are evolving to enhance BMP delivery and efficacy. Innovative
materials are being developed to improve the bioactivity and biodegradability
of BMP carriers, making them more effective and safer for patients.
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The global orthobiologics market has been
significantly affected by the unprecedented health crisis, the COVID-19
outbreak. According to a 2021 update from the National Safety Council (NSC) in
the United States, the Consumer Product Safety Commission (CPSC) reported a 24%
decrease in emergency department visits for consumer product-related injuries
during the first seven months of the COVID-19 pandemic. Sports-related
injuries, particularly those associated with track and field, saw the most
substantial decline, with hockey, soccer, baseball, football, and basketball
experiencing over a 60% reduction from March to September 2020. As a result,
the bone morphogenetic protein market was notably impacted by the lockdown
measures imposed due to COVID-19. However, with improved screening processes
and the easing of restrictions, the market is now showing signs of recovery and
is expected to achieve stable growth during the study's forecast period. For
instance, in April 2022, an article published in Europe PMC reported the
resumption of elective surgeries following a year of maintaining a
"non-COVID" hospital status in Nassau County, New York, as the
COVID-19 positivity rate dropped to 1.2% on May 1, 2021.
Several key factors contribute to the market's growth.
The increasing incidence of sports-related injuries, a rising demand for
minimally invasive surgical procedures, and ongoing technological advancements
in the field of bone morphogenetic proteins are all significant drivers. The
Center for Disease Control and Prevention notes a growing number of individuals
participating in sports in both developed and developing nations, leading to an
upsurge in sports-related injuries. In 2021, the "Arm Injury Statistics"
article reported that six million people in the United States suffer a broken
bone each year, with hip fractures becoming the most common type in individuals
over the age of 75. Fractures account for 16% of all musculoskeletal injuries
in the United States, with more than 40% occurring at home. Consequently, the
increasing incidence of bone fractures, especially hip fractures in the aging
population, is expected to drive the demand for bone morphogenetic proteins.
With the growing number of sports-related injuries, there is an escalating need
for these proteins, which aid in bone formation.
Additionally, the prevalence of injuries such as
spinal cord injuries is anticipated to lead to a higher demand for minimally
invasive surgical procedures, further stimulating market growth. According to
Spinal Cord Injuries Australia (SCIA), approximately 15,000 people in Australia
had spinal cord injuries (SCIs) in 2020. The United Kingdom Spinal Injury
Association data from 2021 indicates that around 2,500 people are injured or
diagnosed with spinal cord injuries each year, with an estimated 50,000 people
in the United Kingdom living with such injuries. Therefore, the increasing
frequency of sports-related injuries, the growing interest in minimally
invasive surgeries, and ongoing technological advancements are expected to fuel
the growth of the orthobiologics market.
The Global Bone Morphogenetic Protein Market is
segmented into type, application, regional distribution, and company.
Based on its type, The rhBMP-2, or recombinant human
Bone Morphogenetic Protein-2, is poised to experience substantial market
dominance during the forecast period in the Global Bone Morphogenetic Protein
Market for several compelling reasons. First and foremost, rhBMP-2 has
demonstrated remarkable efficacy in stimulating bone formation, making it an
indispensable component of spinal fusion surgeries, where it facilitates fusion
rates superior to traditional bone graft procedures. Its ability to expedite
the healing process and reduce complications associated with autograft
harvesting, particularly from the iliac crest, contributes to its growing
popularity. Additionally, rhBMP-2 addresses a pressing global healthcare issue,
as an increasing number of individuals suffer from spinal cord injuries each
year. As the demand for spinal fusion devices surges, driven by both injury
cases and a preference for minimally invasive techniques, rhBMP-2 is
well-positioned to capture a significant market share, reflecting its pivotal
role in enhancing patient outcomes and improving surgical procedures in this
evolving market landscape.
Based on application, it is anticipated that spinal
fusion will capture a significant portion of the market. Spinal fusion involves
the utilization of bone morphogenetic protein (BMP), a protein known for its
capacity to stimulate bone formation in the human body. BMP finds extensive use
in spinal fusion procedures. Research indicates that BMP is widely embraced due
to its ability to promote fusion at a rate surpassing that of conventional bone
graft surgery. This attribute provides surgeons with the advantage of enhanced
fusion rates, obviating the complexities associated with harvesting iliac crest
autografts (hip grafts). Avoiding the use of hip grafts reduces surgical
duration and lowers complication rates, resulting in swifter and less painful
recovery periods. The upswing in spinal surgeries, coupled with the
facilitative role of BMP, is driving the rapid expansion of its application in
spinal fusion procedures.
Additionally, a study published in the National
Library of Medicine in May 2022 reveals that annually, between 250,000 and
500,000 individuals worldwide suffer from spinal cord injuries, with the
majority stemming from preventable causes like violence and car accidents. In
the United States, around 17,000 new cases of spinal cord injuries are reported
each year, and an estimated 282,000 people live with such injuries. Notably,
men predominate among patients with sports-related spinal cord injuries, with
the age group of 16 to 30 years being at the highest risk for such injuries.
Consequently, the high incidence of spinal cord injuries is driving demand for
spinal fusion devices in the forthcoming years. Furthermore, the growing
preference for minimally invasive surgical techniques, owing to their numerous
advantages, is fueling the overall market expansion.
Major companies operating in Global Bone
Morphogenetic Protein Market are:
- Johnson & Johnson
- Ember Therapeutics Inc
- Integra LifeSciences Holdings Corp
- Medtronic PLC
- Bio-Techne Corp
- Merck KGaA
- Pfizer Inc
- Stryker Corp
- Thermo Fisher Scientific Inc
- Zimmer Biomet Holdings Inc
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“The Global Bone Morphogenetic Protein Market is
entering a new era marked by personalized medicine, minimally invasive
techniques, regenerative medicine integration, and innovative delivery systems.
These trends, along with expanding applications, biocompatible materials, and
ethical considerations, will shape the future of the BMP market. As research
and technological advancements continue to unfold, the BMP market is set to
play a pivotal role in the advancement of orthopedic and regenerative medicine.
It's an exciting time for both patients and the healthcare industry as a whole,”
said Mr. Karan Chechi, Research Director with TechSci Research, a
research-based management consulting firm.
“Bone Morphogenetic Protein Market 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), By
Region, By Competition Forecast & Opportunities, 2018-2028F”, has evaluated
the future growth potential of Global Bone Morphogenetic Protein Market and
provides statistics & information on market size, structure and future
market growth. The report intends to provide cutting-edge market intelligence
and help decision makers take sound investment decisions. Besides, the report
also identifies and analyzes the emerging trends along with essential drivers,
challenges, and opportunities in Global Bone Morphogenetic Protein Market.
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