May 21, 2024
Bone Marrow Transplant Market

The Global Bone Marrow Transplant Market Growth is Projected to Driven by High Incidence of Cancer

The global bone marrow transplant market is a rapidly growing therapy area used for treating various types of blood cancers, blood disorders, and immune deficiencies. Bone marrow transplantation involves replacing a patient’s diseased or damaged bone marrow with healthy bone marrow stem cells. It is considered as the most effective treatment option for life-threatening conditions like leukemia, lymphoma, and other bone marrow failure diseases. The procedure involves extracting blood-forming stem cells from the marrow of healthy bones in the pelvis or from peripheral blood. These are later transfused back into the patient after high-dose chemotherapy or radiation, which destroys their existing bone marrow. The transplanted stem cells repopulate the bone marrow and restore the patient’s ability to produce healthy blood cells. As bone marrow transplantation is often the only curative option for advanced cancers, its demand has been consistently rising with increased prevalence of cancer worldwide.

The global Bone Marrow Transplant Market is estimated to be valued at US$ 7261.28 Mn in 2024 and is expected to exhibit a CAGR of 6.7% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.

Market key trends:

One of the primary trends in the bone marrow transplant market is the rising adoption of peripheral blood stem cells (PBSCs) over traditional bone marrow sources. PBSCs have emerged as the preferred stem cell source due to their high stem cell count and reduced complication rates. With advancements in apheresis and collection techniques, more patients are now undergoing PBSC transplants which facilitate faster engraftment and reduced risks of infection and graft failure. Moreover, ongoing clinical research involving alternative stem cell sources such as umbilical cord blood and placenta-derived cells are also gaining attention as they can help overcome limited bone marrow and PBSC availability. As demand for bone marrow transplants continues to surge globally, developments related to novel stem cell techniques and sources will remain key focus areas shaping the future trajectory of this market.

Porter’s Analysis

Threat of new entrants: Low barriers to entry due to established distribution networks and regulations.

Bargaining power of buyers: High as buyers can negotiate over prices and switch between suppliers easily.

Bargaining power of suppliers: Low as there are many component and raw material suppliers.

Threat of new substitutes: Low as bone marrow transplant is a unique procedure with no close substitute.

Competitive rivalry: High among existing players to gain market share.

Key Takeaways

The Global Bone Marrow Transplant Market Size is expected to witness high growth over the forecast period. The global Bone Marrow Transplant Market is estimated to be valued at US$ 7261.28 Mn in 2024 and is expected to exhibit a CAGR of 6.7% over the forecast period 2024 to 2031.

North America is currently dominating the market due to presence of major market players and established healthcare infrastructure in the region. Growing number of blood disorders and cancers in the United States is further driving the regional market growth. Asia Pacific is anticipated to exhibit fastest growth rate over the forecast period owing to rising healthcare expenditure, increasing patient awareness and improving healthcare infrastructure in developing economies like India and China. Government initiatives to increase funding for R&D of stem cell therapies will further boost the regional market.

Key players: Key players operating in the bone marrow transplant market are 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.

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