Bone
morphogenetic proteins are multifunctional growth factors and are
expressed during the cartilage repair, early fracture, and limb
development. Currently, around 20 different BMPs are identified,
where each protein possesses different degrees of tissue stimulating
properties. These proteins provide means for quick recovery from
fracture, where bone healing or augmentation is required. These
proteins have been especially helpful in spinal fusion. BMPs are more
likely to be used in patients who have undergone previous surgery or
patients who are undergoing complex spinal fusion procedures.
According
to an article published in 2011 on website Science Daily there has
been an increment in BMP assisted spinal fusion procedures from 5.5%
in 2003 to about 28% in 2008. The article also states that nearly 30%
spinal fusion procedures currently use BMPs. Growth factor
impregnated spinal cages have been popular in spinal surgeries.
Although expensive as compared to other methods, BMP application has
increased owing to its efficiency, and minimum side effects.
Higher
rate of fusion failure with traditional methods, also have increased
the adoption of BMPs. BMP is also expected to replace the bone graft
substitutes because of its high success rate. The number of spinal
fusion procedures has almost doubled to 413,000 between 2002 and
2008, in the U.S. alone according to Bloomberg. This high rise in the
procedures will provide a broad base for market expansion. Increasing
incidences of fractures is also expanding the application of bone
morphogenetic proteins. As these incidences are higher in developing
nations, better market opportunities exist due to emerging patient
pool such as road accident victims. According to a report published
by World Health Organization (WHO) involving 28 nations, the total
number of road traffic deaths is as high as 1.24 million per year.
According to the Road Transport Ministry of India’s report, around
0.5 million road accidents were reported in 2011. Apart from these
factors, rise in geriatric population and sedentary life style
adopted by modern generation, incidences of spinal disorders are
bound to rise in the near future.
In
spite of these drivers, the bone morphogenetic proteins market
suffers from certain serious drawbacks. Owing to higher price of the
products, the maker for bone morphogenetic proteins is expected to
grow at a slower rate in the developing nations. Also, in the U.S.
hospital charges for procedures involving BMP were about USD 15,000
greater than hospital charges for fusions without BMP. Unfavorable
reimbursements have added to the worries. These restraints must be
worked upon for better market capitalization. In this instance,
medical tourism may be the right solution for people in United States
and Europe. India, Brazil, Mexico, South-East Asia are major regions
for medical tourism and can offer significantly more affordable
procedures to patients.
Medtronic’s
InFUSE bone graft which consists of a genetically engineered human
BMP- rhBMP-2 was approved in 2002. Commercially available BMPs which
have been used for medical purpose include recombinant human bone
morphogenetic protein-2 (rhBMP-2), rhBMP-7 or osteogenic protein-1
(OP-1). Stryker is the manufacturer of OP-1 with FDA approval in
2001, and is approved in other 28 countries including European Union
nations, Canada, and Australia. The price for BMP-2 and BMP-7 is
around USD 5,000 per kit in the U.S. Corporate can expand the market
by increasing the cost to benefit ratio, by either decreasing cost or
seeking approvals for use in other indications. Research and
development on other BMPs may also help in increasing the product
portfolio. Various off-label applications have indicated potential
use in other procedures. Some of the key players in the market
include Stryker, Medtronic, Olympus Biotech, DePuy Synthes and
others.
This
research report analyzes this market depending on its market
segments, major geographies, and current market trends. Geographies
analyzed under this research report include
North
America
Asia
Pacific
Europe
Rest
of the World
This
report provides comprehensive analysis of
This
report is a complete study of current trends in the market, industry
growth drivers, and restraints. It provides market projections for
the coming years. It includes analysis of recent developments in
technology, Porter’s five force model analysis and detailed
profiles of top industry players. The report also includes a review
of micro and macro factors essential for the existing market players
and new entrants along with detailed value chain analysis.
