Stem cells have the ability to develop into different types of blood cells like white blood cells, red blood cells and platelets. The demand for bone marrow transplants is increasing significantly owing to rising incidences of blood cancers like leukemia, lymphoma and multiple myeloma across the globe. Bone marrow transplant helps restore the patient's immune system and suppresses the growth of cancer cells after chemotherapy or radiation therapy to treat blood cancers. It provides long-term benefits and potential cure for certain types of blood cancers.
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:
The rising incidences of blood cancer is the major factor driving the growth of the bone marrow transplant market. According to a recent report by American Cancer Society, nearly every 3 minutes someone is diagnosed with blood cancer in the United States. It is estimated that in 2023, there will be over 300,000 new cases of leukemia, lymphoma, and myeloma in the US. Bone marrow transplant or stem cell transplant is considered as a standard and effective treatment option for various types of blood cancers. The increasing cases of blood cancer patients opting for bone marrow transplants globally is expected to propel the market growth over the forecast period.
Segment Analysis
The Global Bone Marrow Transplant Market Size is segmented by donor source into autologous and allogeneic transplant. The allogeneic transplant segment dominates the market as this type of transplant is preferred for indications such as leukemia. Allogeneic transplant involves using donor stem cells from a related or unrelated donor, thus minimizing the risk of graft rejection by the recipient.
Key Takeaways
The global bone marrow transplant market is expected to witness high growth over the forecast period of 2023 to 2030. 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.
Regional analysis:
North America holds the highest share in the bone marrow transplant market due to advancements in research activities for hematopoietic stem cell transplantation techniques. Asia Pacific is expected to grow at the fastest pace due to improvements in healthcare infrastructure and increasing investments towards stem cell research by key players in the region.
Key players: 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.
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