Bone Morphogenetic Protein Market is predicted to reach USD 0.69 billion at a CAGR of 3.40% during the forecast period 2023-2032

Market Research Future (MRFR) has published on the “Global Bone Morphogenetic Protein Market”.

The Bone Morphogenetic Protein Market is estimated to register a CAGR of 3.40% during the forecast period of 2024 to 2032.

MRFR recognizes the following companies as the key players in the global Bone Morphogenetic Protein Market— Johnson & Johnson, Ember Therapeutics Inc., Integra Lifesciences Holdings Corporation, Medtronic PLC, Bio-Techne (R&D Systems, Inc.), Merck KGaA, Pfizer, Inc., Stryker Corporation, Thermo Fischer Scientific, Zimmer Biomet Holdings, Inc.

Market Highlights

The global Bone Morphogenetic Protein Market is accounted to register a CAGR of 3.40% during the forecast period and is estimated to reach USD 0.69 billion by 2032.

The increasing prevalence of minimally invasive procedures and advancements in bone morphogenetic protein (BMP) technology is expected to bolster the growth of the Bone Morphogenetic Protein market.

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Segment Analysis

The global Bone Morphogenetic Protein Market has been segmented based on Type and Application.

Based on the Type, the market is segmented into Recombinant Human Bone Morphogenetic Protein (rhBMP)- 2 and Recombinant Human Bone Morphogenetic Protein (rhBMP) - 7. The Recombinant Human Bone Morphogenetic Protein (rhBMP)- 2 segment was attributed to holding the largest market share in 2023. The incorporation of rhBMP-2 at the site of bone deficiency triggers the body's stem cells to swiftly generate new bone, facilitating growth and ultimately healing the bone defect. This approach eliminates the need for additional bone graft surgeries, reduces unaesthetic scarring, and minimizes pain or discomfort at the donor site. By enabling alveolar cleft closure at a younger age of 3 to 4 years instead of waiting until 7 to 8 years, rhBMP-2 technology surpasses conventional alveolar bone grafting techniques, delivering superior results. This advancement has significantly enhanced the quality of life for numerous individuals, particularly children, affected by jaw bone defects.

Based on the Application, the Bone Morphogenetic Protein Market has been segmented into Spinal Fusion, Trauma, Reconstructive Surgery, and Oral-maxillofacial. The Spinal Fusion segment was expected to hold the largest market share in 2023. Spinal fusion procedures are anticipated to experience significant growth, with Bone Morphogenetic Protein (BMP) playing a crucial role. BMP is a protein known for its ability to stimulate bone formation in the body and is extensively utilized in spinal fusion surgery. Studies have demonstrated that BMP is widely embraced for its effectiveness in facilitating fusion at a higher rate than traditional bone graft procedures. This allows surgeons to conduct surgeries with improved fusion rates, avoiding the complexities associated with harvesting bone from the hip (iliac crest autograft). By eliminating the need for hip grafts, surgical time is reduced, and complication rates are minimized, leading to faster and less painful recovery periods. As the number of spinal surgeries increases and the benefits of using BMP become more evident, its application in spinal fusion surgery is rapidly expanding.

Regional Analysis

The global Bone Morphogenetic Protein Market, based on region, has been divided into North America, Europe, Asia-Pacific, and Rest of the World. North America consists of the US and Canada. The Europe Bone Morphogenetic Protein Market comprises Germany, France, the UK, Italy, Spain, and the rest of Europe. The Bone Morphogenetic Protein Market in Asia-Pacific has been segmented into China, India, Japan, Australia, South Korea, and the rest of Asia-Pacific. The Rest of the World's Bone Morphogenetic Protein Market comprises the Middle East, Africa, and Latin America.

The largest market share for the Bone Morphogenetic Protein Market was maintained by the North American regional sector. The robust healthcare infrastructure and the adoption of innovative technologies are key drivers behind the market growth in this region. According to an article published in the National Library of Medicine in August 2020, the United States Food and Drug Administration's approval of the protein molecule rhBMP-2 has positioned it as a preferred option for bone-related surgeries in the United States. According to the American Association of Neurological Surgeons' 2021 report, an estimated 450,000 individuals in the United States are living with spinal cord injuries (SCI). Additionally, an article updated in January 2022, titled '40 Back Pain Statistics (To Send a Shiver Down Your Spine),' indicates that 80% of Americans experience back pain at some point in their lives, suggesting significant potential for the utilization of bone morphogenetic protein in the country. Spinal injuries commonly result from trauma, falls, crashes, and traffic accidents. For example, data from the Ministry of Communications and Transportation (Mexico) updated in September 2020 reveals that a total of 8,500 individuals were injured in road traffic accidents.

Moreover, the Europe market has been persistently growing over the forecast period. The aging population in Europe is steadily growing, leading to an increased prevalence of age-related bone diseases and conditions. According to Eurostat, individuals aged 65 and over accounted for 21.3% of the population, marking a 0.2 percentage point increase from the previous year and a 3.0 percentage point increase over the past decade. Comparatively, in 2022, children aged 0 to 14 years, working-age individuals aged 15 to 64 years, and older people aged 65 years and over represented 15.0%, 63.9%, and 21.1% of the EU's population, respectively. The population of older people in the EU-27, defined as those aged 65 years or older, is projected to rise significantly from 90.5 million in 2019 to 129.8 million by 2050. During this period, the number of individuals aged 75-84 years in the EU-27 is estimated to increase by 56.1%, while those aged 65-74 years are projected to grow by 16.6%. Conversely, projections indicate a 13.5% decrease in individuals under 55 years of age living in the EU-27 by 2050. Given that older individuals are more susceptible to fractures and degenerative bone disorders, BMP therapies play a crucial role in their treatment. This demographic shift is a key driver behind the growth of Europe's BMP market.

The Asia-Pacific region is experiencing a surge in orthopedic conditions like spinal disorders, traumatic injuries, and degenerative bone diseases. According to the International Osteoporosis Foundation, approximately half of women and one-fifth of men over 50 years old will encounter at least one osteoporotic fracture, with half of them facing secondary fractures. Chinese researchers project that by 2035, China alone will witness around 4.83 million new cases of osteoporotic fractures, and this number is expected to rise to about 5.99 million by 2050. Consequently, healthcare expenses related to osteoporotic fractures in China are forecasted to escalate significantly, reaching 132 billion RMB by 2035 and 163 billion RMB by 2050. Given this scenario, Bone Morphogenetic Proteins (BMPs) are extensively utilized in orthopedic surgeries to stimulate bone growth and facilitate healing. With the aging population and changing lifestyles, the prevalence of such conditions is anticipated to rise, thereby fueling the demand for BMPs.

Furthermore, the rest of the world's Bone Morphogenetic Protein Market is divided into the Middle East, Africa, and Latin America. These regions are witnessing a rise in orthopedic conditions such as spinal disorders, traumatic injuries, and degenerative bone diseases. These regions have large populations with diverse demographics, including aging populations and increasing urbanization, leading to higher incidences of orthopedic issues. BMPs are crucial in orthopedic surgeries to stimulate bone growth and aid in the healing process, thus driving demand in these regions.

Key Findings of the Study

• The global Bone Morphogenetic Protein Market is expected to reach USD 0.69 billion by 2032, at a CAGR of 3.40% during the forecast period.


• The Asia-Pacific region accounted for the fastest-growing global market because of the availability of highly qualified healthcare experts and access to cutting-edge facilities.


• 
  Based on Type, the Recombinant Human Bone Morphogenetic (rhBMP)- 2 segment was attributed to holding the largest market in 2023.
  


• Johnson & Johnson, Ember Therapeutics Inc., Integra Lifesciences Holdings Corporation, Medtronic PLC, Bio-Techne (R&D Systems, Inc.), Merck KGaA, Pfizer, Inc., Stryker Corporation, Thermo Fischer Scientific, and Zimmer Biomet Holdings, Inc are the key market players.