Bone Marrow Transplant Market

Bone Marrow Transplant Market Propelled By Growth In Hematopoietic Stem Cell Transplantation Procedures

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Bone marrow transplant, also known as hematopoietic stem cell transplantation, involves transplantation of multipotent hematopoietic stem cells to reconstitute healthy hematopoiesis in patients treated with high-dose chemotherapy and/or radiation therapy. It is commonly used for treatment of various blood cancers such as leukemia, lymphoma, and multiple myeloma. The procedure provides long term survival benefits for patients with bone marrow failure or blood cell abnormalities.

The global Bone Marrow Transplant Market is estimated to be valued at US$ 6303.19 Mn in 2023 and is expected to exhibit a CAGR of 8.2% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market key trends:

Growth in hematopoietic stem cell transplantation procedures is one of the key drivers propelling the bone marrow transplant market growth. According to a study published in Biology of Blood and Marrow Transplantation in 2020, the number of hematopoietic stem cell transplants has increased globally over the past two decades, with approximately 81,000 procedures performed worldwide in 2018 compared to 18,000 in 2000. The rising incidence of target diseases along with availability of matching unrelated donors and improved transplant outcomes have contributed to the higher adoption of bone marrow transplant procedures over the years. This increasing volume of transplantation procedures performed is augmenting the demand for bone marrow transplant products and services globally.

SWOT Analysis

Strength: Global Bone Marrow Transplant Market Size has wide scope for immunotherapies and stem cell treatments to treat various blood cancers and disorders. Advanced methods to collect bone marrow with minimal pain and invasive procedures has increased donor willingness.

Weakness: High cost associated with bone marrow transplant procedures limits its adoption. Stringent regulatory guidelines for approval of new therapies and procedures delays product launches.

Opportunity: Rising incidence of blood cancers and genetic blood disorders in aging population creates demand. Development of alternative sources like umbilical cord blood and peripheral blood stem cells widens sources.

Threats: Safety issues related to transplant rejection and graft-versus-host disease challenge growth. Limited matching donors availability especially for ethnic minorities pose challenges.

Key Takeaways

The global bone marrow transplant market is estimated to be valued at US$ 6303.19 Mn in 2023 and is expected to exhibit a CAGR of 8.2% over the forecast period 2023 to 2030.

The global bone marrow transplant market is expected to witness high growth. North America currently dominates the market owing to presence of advanced healthcare facilities and rising cases of blood related diseases. The Asia Pacific region is expected to witness fastest growth during the forecast period due to increasing patient awareness, rising healthcare spending, and growing incidence of blood cancers.

Key players operating in the bone marrow transplant market are Lonza, Merck KgaA, Sanofi, AllCells, STEMCELL Technologies Inc., Charles River Laboratories, Beike Biotechnology Co., Ltd., FUJIFILM Cellular Dynamics, Inc., CORESTEM, Inc., Gamida Cell, Lifeline Cell Technology, Mesoblast Ltd, and PromoCell GmbH. These players are focusing on developing improved methods for cell collection and transportation to expand sources and reduce costs. Partnerships with research institutes and hospitals help enhance their product pipelines.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it

Ravina
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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.