Bone Morphogenetic Proteins Driving Growth in Asia Pacific Despite Absence
from Japanese Market, According to Millennium Research Group
WALTHAM, Mass., Oct. 26 /PRNewswire/ -- According to Millennium Research Group
(MRG), the global authority on medical technology market intelligence, despite
controversy surrounding bone morphogenetic proteins (BMPs) in the US, they
will be introduced into South Korea over the next year and experience
double-digit growth in Australia, driving the Asia Pacific bone graft
substitute market through 2013. MRG's Asia Pacific Markets for Orthopedic
Biomaterials 2009 report finds that the absence of BMPs in Japan will result
in Japanese bone graft substitute market growth rates of only half those seen
in Australia and South Korea from 2008 to 2013. In countries where BMPs are
available, growing surgeon awareness of the potential of BMPs will be key to
rapid adoption.
BMP adoption across Asia Pacific will vary. Although Japan accounts for over
half of the value of the Asia Pacific bone graft substitute market, regulatory
restrictions in the country have denied BMPs market entry; the products are
not expected to win approval in the foreseeable future. Conversely, in
Australia, high prices and favorable reimbursement for BMPs will fuel growth.
South Korean surgeons have taken a conservative stance towards BMPs because of
recent negative publicity regarding their usage in the US. Stryker's OP-1 and
Medtronic Spinal & Biologics' INFUSE came under scrutiny beginning in 2008 due
to their association with complications when used off-label in cervical
fusions. Nonetheless, the South Korea-based Korea Bone Bank announced in
August 2009 that it expects to fully launch its BMP-2 by the end of 2010.
"The release of a domestic competitor's product in Korea will generate renewed
interest in BMPs and encourage the approval and adoption of other BMP
products," says Deanna Vankessel, Analyst at MRG. "Through 2013, the ability
of BMPs to stimulate the formation of new bone will fuel their adoption. We
expect a growing number of surgeons to move away from the materials they are
currently using and adopt BMPs."
MRG's new report, Asia Pacific Markets for Orthopedic Biomaterials 2009,
provides important insight into the trends that will fuel product use and
market growth for hyaluronic acid viscosupplementation and bone graft
substitutes through 2013. Additionally, the report provides full breakdowns of
hyaluronic acid viscosupplementation procedures and sales by number of
injections and application, as well as bone graft substitute procedures and
sales by material and application. This report includes five-year forecasts,
up-to-date country-level market shares, and in-depth qualitative insights.
About Millennium Research Group
Millennium Research Group (www.MRG.net), a Decision Resources, Inc. company
(www.DecisionResourcesInc.com), is the global authority on medical technology
market intelligence and the leading provider of strategic information to the
healthcare sector. The company provides specialized industry expertise through
multiclient market research, ongoing Marketrack(TM) projects, customer loyalty
tracking, facility-level procedure forecasting, and customized solutions.
About Decision Resources, Inc.
Decision Resources, Inc. is a cohesive portfolio of companies that offers
best-in-class, high-value information, and insights on important sectors of
the healthcare industry. Clients rely on this analysis and data to make
informed decisions. Please visit Decision Resources, Inc. at
www.DecisionResourcesInc.com.
All company, brand, or product names contained in this document may be
trademarks or registered trademarks of their respective holders.
For more information, contact:
Amy Krohn
Millennium Research Group
416-364-7776 ext. 101
akrohn@mrg.net
Elizabeth Marshall
Decision Resources Inc.
781-296-2563
emarshall@dresources.com
SOURCE Millennium Research Group
Amy Krohn of Millennium Research Group, +1-416-364-7776 ext. 101,
akrohn@mrg.net; or Elizabeth Marshall of Decision Resources Inc.,
+1-781-296-2563, emarshall@dresources.com
