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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