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The hematopoietic stem cell transplantation (HSCT) market has witnessed significant growth in recent years owing to the increasing applications in oncology. HSCT involves transplanting healthy blood-forming stem cells to replace damaged or destroyed bone marrow. It is commonly used in the treatment of various types of cancer such as leukemia, lymphoma, multiple myeloma, and other blood cancers.
HSCT helps treat both malignant and non-malignant disorders by restoring the body’s ability to produce healthy blood cells. It has proven to be an effective therapy for various types of hematologic cancers and genetic disorders. The growing prevalence of acute myeloid leukemia, lymphoma, and other cancers worldwide has contributed to the rising demand for HSCT procedures. Furthermore, advancements in stem cell collection techniques, supportive care therapies, and better outcomes of transplants have enhanced the success rate of HSCT, making it a more viable option for cancer treatment.
The global Hematopoietic Stem Cell Transplantation (HSCT) Market is estimated to be valued at US$ 2.88 Bn in 2023 and is expected to exhibit a CAGR of 11.% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
One of the key trends in the HSCT market is the increasing adoption of umbilical cord blood as a stem cell source. Umbilical cord blood is emerging as a viable alternative to bone marrow due to various advantages such as easy availability, no risk to donors, and lower incidence of graft versus host disease. Furthermore, umbilical cord blood cells have the unique ability to engraft in smaller quantities as compared to stem cells from bone marrow or peripheral blood. This has supported the growth of private and public cord blood banks worldwide. Rapid advancements in minimal residual disease testing technologies have also enabled improved outcomes by allowing early detection of signs of relapse after transplantation.
Porter’s Analysis
Threat of new entrants: High costs involved, such as high setup, technology training, reputational barriers limit new entrants in this market.
Bargaining power of buyers: Buyers have moderate bargaining power. Although there are many vendors, transplant procedure depends on donor’s matching compatibility.
Bargaining power of suppliers: Suppliers have significant bargaining power due to limited availability and difficulty associated with stem cell collection from donors.
Threat of new substitutes: Stem cell therapies are emerging but limited alternatives with significant development risks pose low threat currently.
Competitive rivalry: High as market dominated by few major vendors providing full suite of HSCT services intensifying competition.
Key Takeaways
The global Hematopoietic Stem Cell Transplantation (HSCT) market is expected to witness high growth.
Regional analysis: North America dominates HSCT market owing to high incidence of blood cancer, increasing geriatric population and strong healthcare infrastructure. Asia-Pacific to grow at fastest pace due growing healthcare spending, rising cancer burden.
Key players: Key players operating in the Hematopoietic Stem Cell Transplantation (HSCT) market are Allcells, Gamida Cell, Cryo-Cell, Kiadis Pharma, Gilead Sciences, Merck, Takeda Pharmaceutical, Lonza Group, and Stemson Therapeutics.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
