Allogeneic stem cell transplantation involves extracting healthy stem cells from a donor and infusing them into a patient’s bloodstream to form new bone marrow. It plays a key role in treating diseases like leukemia, lymphoma, myelodysplastic syndromes, and myeloma by replacing unhealthy stem cells with healthy ones. The demand for allogeneic stem cell transplantation is increasing owing to the growing prevalence of cancers. According to the World Cancer Research Fund International, there were around 19.3 million new cancer cases globally in 2020.
The global Allogeneic Stem Cell Transplantation Market is estimated to be valued at US$ 3.9 Bn in 2023 and is expected to exhibit a CAGR of 7.3% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The rising number of hematopoietic stem cell transplant procedures is expected to propel the growth of the allogeneic stem cell transplantation market over the forecast period. Hematopoietic stem cell transplantation is a critical treatment option for many blood cancers as well as other disorders. According to the Center for International Blood & Marrow Transplant Research, over 50,000 hematopoietic stem cell transplants are performed worldwide each year. Around 70% of these transplants utilize allogeneic donor stem cells. The increasing prevalence of target diseases and greater awareness about stem cell transplantation as an effective treatment option are contributing to the growth in the number of such procedures performed annually.
SWOT Analysis
Strength: Allogeneic stem cell transplantation has a well-established procedure and produces long-lasting effects. It helps treat various blood cancers and blood disorders effectively.
Weakness: The procedure requires a matched donor which is difficult to find. Long hospital stays and high treatment costs associated with allogeneic stem cell transplantation procedure.
Opportunity: Increasing incidence of blood cancers and other blood disorders is driving the demand for allogeneic stem cell transplantation. Growing awareness about the benefits of stem cells in treating various diseases.
Threats: Stringent regulations for stem cell research and transplantation. Risk of infection and graft-versus-host disease associated with allogeneic stem cell transplantation limits its use.
Key Takeaways
The Global Allogeneic Stem Cell Transplantation Market Size is expected to witness high growth. The market size is projected to reach US$ 3.9 Billion by 2023 from US$ 2.7 Billion in 2023, rising at a CAGR of 7.3% during the forecast period.
Regional analysis
North America dominates the allogeneic stem cell transplantation market currently due to presence of advanced healthcare infrastructure and increasing research funding for stem cell in the region. The Asia Pacific region is expected to offer lucrative growth opportunities owing to rising healthcare spending, growing awareness, and increasing prevalence of cancer and other diseases.
Key players
Key players operating in the allogeneic stem cell transplantation market are Merck & Co., Inc., Eli Lilly and Company, Bristol-Myers Squibb Company, Astrazeneca Plc., Fresenius Medical Care AG & CO. KGAA, and F. Hoffmann-la Roche Ltd. (Genentech, Inc.), among others. These key players are focusing on newer product launches and partnerships for strengthening their market position.
Ravina Pandya, Content Writer, has a strong foothold in the market research industry. She specializes in writing well-researched articles from different industries, including food and beverages, information and technology, healthcare, chemical and materials, etc. With an MBA in E-commerce, she has an expertise in SEO-optimized content that resonates with industry professionals.