Europe Market Report for Bone Morphogenic Protein Growth Factor Therapy 2017 - MedCore
General Report Contents
Market Analyses include: Unit Sales, ASPs, Market Value & Growth Trends
Market Drivers & Limiters for each chapter segment
Competitive Analysis for each chapter segment
Section on recent mergers & acquisitions
This market went through a decline a result of Olympus exiting the market with its OP-1® BMP-7 product. However, the market has stabilized and is expected to a growth over the forecast period. Despite the recently acquired approval for Infuse® to be used as an adjunct in all spinal interbody fusion procedures, the level of absorption will remain limited due to the two products’ substantially different indications. As such, unless InductOS® can build upon its indications, the market is expected to grow at a slower rate over the forecast period.
In addition to the market value, the contracting ASP was also a result of the discontinuation of OP-1®, which was sold at a premium compared to InductOS®. Prices will remain stable throughout the remainder of the forecast period as Medtronic has no immediate plans to change its pricing scheme for the product. Furthermore, with the newly monopolized market, it is expected that demand for the product will remain fairly inelastic to any changes in price.
The countries with the largest BMP market in 2016 were France and Germany, with France being the leader. The negotiated reimbursement in France has allowed it to secure a large share of the overall European market. Germany, the largest country by population, was the second largest consumer; penetrating the German market remains difficult as Medtronic is tasked with proactively negotiating the reimbursement rates with various health insurers. Meanwhile, Austria and Portugal remained the smallest of the markets.
Bone morphogenetic proteins (BMPs) are growth factors that induce the formation of bone after a fracture. In nature, these proteins have a critical role during embryonic development in the formation of the skeleton. There are twenty different BMPs that have been discovered thus far, of which only two, BMP-2 and BMP-7, have been commercialized as bone graft substitutes for use in specific orthopedic procedures. The commercial versions of these products are produced by recombinant genetic engineering, which results in a recombinant human protein. The recombinant human BMP-2 (rhBMP-2) is marketed as a commercial product by Medtronic, Inc. and is called Infuse® (InductOS® in Europe), while BMP-7 has been commercialized by Stryker Inc. and is sold to Olympus under the name of OP-1®. Both molecules mediate the process of osteoblast differentiation. BMP-2 is capable of stimulating immature mesenchymal cells to form into bone, while BMP-7 has been shown to be capable of stimulating cartilage growth.