Market Size of Global Bone Morphogenetic Protein Industry
| 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 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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Global Bone Morphogenetic Protein Market Size Summary
The bone morphogenetic protein market is poised for growth, driven by increasing incidences of sports-related injuries, a rising demand for minimally invasive surgeries, and ongoing technological advancements in the field. The market experienced significant disruptions due to the COVID-19 pandemic, which led to a decrease in sports-related injuries and elective surgeries. However, as the pandemic subsided and restrictions eased, the market began to regain traction. The growing participation in sports and the aging population's susceptibility to bone fractures, particularly hip fractures, are expected to further boost the demand for bone morphogenetic proteins. These proteins play a crucial role in bone formation, making them essential for patients requiring surgical interventions to address fractures and injuries.
In terms of application, spinal fusion surgery is anticipated to witness notable growth due to the advantages offered by bone morphogenetic proteins over traditional bone grafts. The ability of BMPs to enhance fusion rates and reduce surgery time and complications is driving their adoption in spinal surgeries. The market is characterized by moderate competition, with major players like Medtronic Inc., Stryker Corporation, and Thermo Fischer Scientific holding significant market shares. However, technological innovations and strategic partnerships, such as Orthofix Medical's collaboration with CGBio, are enabling mid-size and smaller companies to expand their presence. North America is expected to maintain its stronghold in the market, supported by a well-established healthcare system and the adoption of novel technologies.
Global Bone Morphogenetic Protein Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Overview
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1.2 Market Drivers
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1.2.1 Growing Incidences of Sports-related Injury
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1.2.2 Rising Demand for Minimally Invasive Surgeries
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1.2.3 Technological Advancements
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1.3 Market Restraints
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1.3.1 High Cost of Procedure
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1.3.2 Alternative Treatment Availability
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1.4 Porter's Five Force Analysis
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1.4.1 Threat of New Entrants
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1.4.2 Bargaining Power of Buyers/Consumers
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1.4.3 Bargaining Power of Suppliers
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1.4.4 Threat of Substitute Products
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1.4.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION (Market Size by Value - USD million)
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2.1 By Type
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2.1.1 Recombinant Human Bone Morphogenetic Protein (rhBMP) - 2
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2.1.2 Recombinant Human Bone Morphogenetic Protein (rhBMP) -7
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2.2 By Application
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2.2.1 Spinal Fusion
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2.2.2 Trauma
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2.2.3 Reconstructive Surgery
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2.2.4 Oral-maxillofacial
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2.3 Geography
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2.3.1 North America
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2.3.1.1 United States
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2.3.1.2 Canada
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2.3.1.3 Mexico
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2.3.2 Europe
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2.3.2.1 Germany
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2.3.2.2 United Kingdom
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2.3.2.3 France
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2.3.2.4 Italy
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2.3.2.5 Spain
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2.3.2.6 Rest of Europe
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2.3.3 Asia-Pacific
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2.3.3.1 China
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2.3.3.2 Japan
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2.3.3.3 India
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2.3.3.4 Australia
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2.3.3.5 South korea
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2.3.3.6 Rest of Asia-Pacific
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2.3.4 Middle East & Africa
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2.3.4.1 GCC
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2.3.4.2 South Africa
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2.3.4.3 Rest of Middle East & Africa
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2.3.5 South America
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2.3.5.1 Brazil
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2.3.5.2 Argentina
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2.3.5.3 Rest of South America
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Global Bone Morphogenetic Protein Market Size 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.
