The global Bone Marrow Transplant Market is estimated to be valued at US$ 6303.19 Mn or Mn in 2023 and is expected to exhibit a CAGR of 4.0% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Bone marrow transplant is a medical procedure in which diseased bone marrow is replaced by healthy bone marrow stem cells. It is often used treat disorders like leukemia, lymphoma, multiple myeloma, and other blood cancers. Bone marrow transplantation aims to replace a patient’s diseased or damaged bone marrow with healthy bone marrow stem cells.
Market key trends:
Stem cell therapies offer regenerative treatments for various diseases and injuries. Growing research in stem cell therapies is driving the bone marrow transplant market. Stem cell transplantation helps treat over 70 types of diseases including blood cancers, genetic disorders, and immune system disorders. With advancements in stem cell research, bone marrow transplantation is becoming an effective treatment option for many life-threatening conditions. Rise in prevalence of diseases treatable with bone marrow transplant such as leukemia, lymphoma is also fueling market growth.
Market key trends:
Some of the key trends in the bone marrow transplant market include growing adoption of peripheral blood stem cells transplant over bone marrow, rise in multi-disciplinary approches in stem cell research and technologies, and increasing market demand for allogenic transplant. The use of peripheral blood stem cells has gained popularity over bone marrow stem cells due to its better engraftment rate post-transplant. Also, advancements in stem cell therapies, cell cultures, gene therapy and use of amniotic stem cells in transplants are contributing to the growth of the market.
SWOT Analysis
Strengths: Growing prevalence of leukemia, lymphoma and other cancers is a major driver of bone marrow transplants. Developing stem cell technologies offer innovative treatment options.
Weaknesses: High costs associated with the procedures limit the adoption rates. Stringent regulatory policies raise compliance issues.
Opportunities: Emerging economies offer lucrative market potential. Expanding clinical trials on new techniques present opportunities.
Threats: Limited availability of suitable donors poses challenges. Complications and graft rejections are major risks.
Key Takeaways
The global Bone Marrow Transplant Market Share is expected to witness high growth, exhibiting CAGR of 4.0% over the forecast period, due to increasing prevalence of blood cancer and other blood disorders. The market size for 2023 is estimated to be US$ 6303.19 Mn.
Regional analysis: North America dominates the global market due to favorable reimbursement policies and healthcare infrastructure to support bone marrow transplant procedures in the region. Asia Pacific presents lucrative growth opportunities over the forecast period attributed to rising healthcare spending, growing incidence of blood cancer and increasing medical tourism.
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.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
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