Bone morphogenetic proteins (BMPs) are a class of growth factors belonging to the transforming growth factor beta (TGF-β) superfamily. BMPs can induce the formation of bone and cartilage and are being widely used in spinal fusion, trauma/non-union bone fractures, and oral maxillofacial surgeries. Recombinant human BMP-2 (rhBMP-2) and recombinant human BMP-7 (rhBMP-7) are the most widely used BMPs for spinal fusion, and have demonstrated efficacy in numerous clinical trials for lumbar interbody fusion.
Global bone morphogenetic protein market is estimated to be valued at USD 342.3 Mn in 2024 and is expected to reach USD 444.5 Mn by 2031, exhibiting a compound annual growth rate (CAGR) of 3.8% from 2024 to 2031.
Key Takeaways
Key players operating in the Bone Morphogenetic Protein market are Medtronic, Stryker, DePuy Synthes, NuVasive, Orthofix Holdings, Smith Nephew, Thermo Fisher Scientific, RD Systems, Ember Therapeutics, Sigma Aldrich Co., Cellumed Co. Ltd., ProSpec, Wright Medical Group N.V., Amedica Corporation, and Bioventus
Rising incidence of bone deformities and spinal injuries worldwide has boosted the demand for bone morphogenetic proteins substantially. According to the National Osteoporosis Foundation, over 53 million Americans are impacted by osteoporosis and low bone mass. This widespread prevalence of orthopedic disorders has augmented the uptake of bone morphogenetic proteins.
Geographic expansion into emerging countries is another driver of Bone Morphogenetic Protein Market Demand. Leading players like Medtronic and Stryker are expanding their presence across Asia Pacific and Latin America to tap the significant unmet needs in these regions. Increasing disposable incomes and awareness about advanced treatment options have made these markets lucrative for bone morphogenetic protein products.
Market drivers
One of the major market drivers is the growing geriatric population globally which is more susceptible to orthopedic conditions like osteoarthritis, osteoporosis and fractures. As per WHO, the population aged 65 years and above is projected to reach 1.5 billion globally by 2050 from 703 million in 2019. With age comes higher chances of bone fractures, non-unions as well as spinal problems which increases the demand for bone morphogenetic protein in their treatment.
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