The latest market report published by Credence Research, Inc. “Global Bone Marrow Transplantation Market – Growth, Future Prospects, Competitive Analysis, 2018 – 2026,” the global bone marrow transplantation market was valued at US$ 8,356.4 Mn in 2017, and is expected to reach US$ 13,903.1 Mn by 2026, expanding at a CAGR of 5.9% from 2018 to 2026.
Browse the full report Bone Marrow Transplantation Market – Growth, Future Prospects, Competitive Analysis, 2018 – 2026 report at https://bit.ly/2DrcxHm
Blood cancer is characterized by the overproduction of abnormal type of blood cells, thereby crowding out normal cells in the bone marrow preventing normal cells in performing their important functions. According to the research citings provided by Bristol-Myers Squibb Company by 2040 approximately 1,100,000 people will die from blood cancer, which will represent 7% deaths due to cancer.
Allogeneic bone marrow transplant are reigning the market. The inherent features associated with allogeneic procedures are the graft is free from contaminated tumor cells. Immune graft versus malignancy effect is produced by the immunocompetent cells derived from healthy donor. Low risk of disease recurrence and significant rise in the number of healthy donors drive the allogeneic bone marrow transplantation market growth. Autologous procedure will grow at a rapid pace in the near future due to rise in number of stem cell banks, which store healthy cells from patients and after conditioning treatment are introduced in them to produce healthy blood cells.
Lymphoma is dominating the indication segment for bone marrow transplantation market. There are 2 types Hodgkin lymphoma and Non-Hodgkin lymphoma. The primary factors responsible for its supremacy are significant rise in the patients newly diagnosed with Hodgkin lymphoma and excellent survival rate in patients post bone marrow transplantation procedure. Leukemia is the abnormal high production of white blood cells by the bone marrow. Technological advancement in the bone marrow transplantation technique will reduce the disease recurrence in leukemia patients receiving stem cell therapy.
North America is presently the leading regional segment for bone marrow transplantation market with a market share of 38%. The major factors responsible for its significant growth are rising prevalence of chronic lymphocytic leukemia and presence of sophisticated healthcare infrastructure. Europe with a market share of 32% is at second position owing to significant rise in the number of myeloma patients and domicile of major players such as PromoCell GmbH, Merck Millipore Corporation and Lonza Group Ltd. Asia Pacific with a market share of 20% will grow at a faster pace in the near future on account of technological advancement in bone marrow transplantation technique and proactive government policies to curb the mortality rate associated with blood cancer.
Biotechnology firms actively engaged in bone marrow transplantation procedures are AllCells LLC., Conversant Bio., Cellular Dynamics International, Gamida Cell Ltd., Hemacare Corporation, Lonza Group Ltd., Merck Millipore Corporation, Mesoblast Ltd., PromoCell GmbH and STEMCELL Technologies.
Key Market Movements:
- Significant rise in the number of new cases diagnosed with lymphoma, leukemia
- Technological advancement in the bone marrow transplantation technique with
minimalratio of disease recurrence
- Rampant growth in the number of healthy donors and stem cell banks worldwide