by Bone marrow transplantation involves transplanting hematopoietic stem cells to replace damaged or destroyed bone marrow. It is used in cancer treatment, blood disorders, genetic disorders or autoimmune diseases. Common potential uses of bone marrow transplants include leukemia, lymphoma and myeloma, severe aplastic anemia, sickle cell anemia and genetic disorders like thalassemia. Stem cell transplantation offers significant advantages over chemotherapy alone for leukemia treatment.
The global Bone Marrow Transplant Market is estimated to be valued at US$ 7,261.28 million in 2024 and is expected to exhibit a CAGR of 6.7% over the forecast period 2024-2031, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
Growing incidences of cancer is the primary factor driving the increased adoption of stem cell transplantation globally. According to WHO, cancer is the second leading cause of death worldwide and accounts for an estimated 9.6 million deaths in 2018. The increasing cases of cancer patients opting for bone marrow transplantation and regenerative cell therapies is boosting the market growth. Stem cell therapy aids cancer treatment by restoring bone marrow function damaged by high-dose chemotherapy and radiation. It speeds up recovery and reduces side effects and risks of cancer treatment, thereby improving patient outcomes.
SWOT Analysis
Strength: The bone marrow transplant market has significant growth opportunities owing to the increasing prevalence of blood cancers and blood disorders. Advancements in transplant techniques and supportive care therapies have improved survival rates.
Weakness: High costs associated with bone marrow transplant procedures limit the access of lower-income patients. Finding a matched donor also remains a challenge.
Opportunity: Rising healthcare expenditure in developing countries is expanding the potential patient pool. Ongoing research on alternatives to matched donors such as haploidentical and cord blood transplants can increase the donor pool.
Threats: Stringent regulations for approval of new transplant methods and supportive care drugs can delay market entry. Complications and Graft-Versus-Host disease remain threats even with the best transplant outcomes.
Key Takeaways
Global Bone Marrow Transplant Market Size is expected to witness high growth over the forecast period of 2024 to 2031 supported by the rising prevalence of blood cancer worldwide. The global Bone Marrow Transplant Market is estimated to be valued at US$ 7,261.28 million in 2024 and is expected to exhibit a CAGR of 6.7% over the forecast period 2024-2031.
The Asia Pacific region holds significant growth opportunities attributed to the improving healthcare infrastructure and increasing healthcare spending in countries like China, India, and Japan. China currently dominates the Asia Pacific market owing to the large patient population and government support for healthcare development projects.
Key players operating in the bone marrow transplant market include Shenzhen Mindray Bio-Medical Electronics Co., Ltd., Getinge AB, General Electric Company, Hamilton Medical, Medtronic, ICU Medical, Inc., Dragerwerk AG & Co. KGaA, ZOLL Medical Corporation, Koninklijke Philips N.V., VYAIRE, Fisher & Paykel Healthcare Limited, ResMed, Max Ventilator (A.B.Industries), NIHON KOHDEN CORPORATION, Inspiration Healthcare Group plc., CorVent Medical Inc., Inovytec, InnAccel Technologies Pvt Ltd., and OES Medical. These players are focusing on expanding their transplant and supportive care portfolios through acquisitions and partnerships to strengthen their market presence.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
