Global Bone Morphogenetic Protein (BMP) 2 Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global Bone Morphogenetic Protein (BMP) 2 Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Market Overview:

The latest research study on the global Bone Morphogenetic Protein (BMP) 2 market finds that the global Bone Morphogenetic Protein (BMP) 2 market reached a value of USD 533.17 million in 2022. It’s expected that the market will achieve USD 750.47 million by 2028, exhibiting a CAGR of 5.86% during the forecast period.

Influence of COVID-19 Outbreak on Bone Morphogenetic Protein (BMP) 2 Industry Development

The COVID-19 epidemic has become a common test for all mankind. This is not only a short-term public health event, but will also have a long-term and profound impact on the medical industry.

Affected by the outbreak of the epidemic and other factors, the number of orthopedic surgeries in terminal hospitals has been drastically reduced, the company's operating income has fallen correspondingly, and the demand for BMP-2 has also decreased accordingly. As the epidemic is gradually brought under control, the amount of orthopedic operations in terminal hospitals will gradually recover, and short-term negative effects will gradually be eliminated. The epidemic has not changed the growth trend of orthopedic medical devices and drugs, and will not have a major adverse impact on the development prospects of BMP-2.

Strength

The widespread ageing of the population, sports-related injuries and a sedentary lifestyle have led to an increase in the number of spinal fusion and joint reconstruction surgeries.

Local growth factors play a leading role in the regulation of bone tissue formation. In particularly, BMPs are growth factors that can individually induce mesenchymal cells to differentiate into bone tissue, and are key regulators in the process of bone tissue formation. Bone morphogenetic protein is useful for patients receiving spinal infusion therapy, can reduce pain, reduce the dependence on screws and spinal rods, and increase the speed of spinal fusion.

Market participants are committed to product innovation and product line expansion, and the scope of application will be more extensive in the future.

Weakness

The limited FDA approval and the illegal off-label use of BMP-2. Medtronic not only underestimated the risk of the product, but also promoted the product to off-label uses. Medtronic illegally promoted Infuse by paying spine surgeons for uses that were not approved by the FDA.
The controversy over the use of BMP-2 and the adverse effects of negative reports on the product.

Opportunities

Bone Morphogenetic Protein (BMP) 2 is widely used in Europe and the United States, but less in other emerging markets. As the market's awareness of BMP-2 increases, it is expected to gain development opportunities in emerging markets.

The therapeutic potential of BMP-2 in other orthopedic diseases is expected to further promote its growth.

Threat

There are strict regulatory restrictions on the use of Bone Morphogenetic Protein (BMP) 2. For example, Medtronic has pulled Infuse bone graft from Australia. Because spine surgeons are using the off label of this product. The device was widely being used in unapproved ways.

Region Overview:

In 2022, the share of the Bone Morphogenetic Protein (BMP) 2 market in North America stood at 91.52%.

Company Overview:

Medtronic is one of the major players operating in the Bone Morphogenetic Protein (BMP) 2 market, holding a share of 97.2% in 2023.

Medtronic

Medtronic, Inc. provides medical devices. The Company offers surgical devices, medical instruments, apparatus, respiratory monitoring systems, medical supplies, and other equipment. Medtronic serves patients and health care professionals worldwide.

Cellumed

Cellumed Co., Ltd. banks human tissue for transplanting and grafting, and manufactures medical implant devices. The Company banks bone, cartilaginous tissue, ligaments and tendons for allografting and manufactures bone growth factor, artificial joints, and spinal implants.

Segmentation Overview:

As for product types, the Medium Kit segment held the largest market share in 2022.

Application Overview:

The market's largest segment by application is the segment Spinal Fusion, with a market share of 19.46% in 2022.

Key Companies in the global Bone Morphogenetic Protein (BMP) 2 market covered in Chapter 3:

Medtronic
Cellumed
ProSpec
Hangzhou Jiuyuan Gene

In Chapter 4 and Chapter 14.2, on the basis of types, the Bone Morphogenetic Protein (BMP) 2 market from 2018 to 2029 is primarily split into:

Small Kit
Medium Kit
Large Kit

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the Bone Morphogenetic Protein (BMP) 2 market from 2018 to 2029 covers:

Spinal Fusion
Hip/knee Replacements
Long Bone Fractures
Ankle Fractures
Trauma Surgery
Oral Maxillofacial Surgery
Reconstructive

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)