Acumen Research & Consulting estimates that global Bone Marrow Transplantation market is expected to reach the market value of around US$ 15 Bn by 2027 and is anticipated to grow at a CAGR of around 5.7% in terms of revenue during the forecast period 2020 - 2027.
The method of replacing disease-related or weakened bone marrow or bone marrow stem cells with healthy tissues is often referred to as hematopoietic stem cell transplantation. Bone marrow is a soft vascular tissue within long bones that primarily induces the formation of blood cells, lymphocytic growth, and fat accumulation. Severe stages of leukemia, Hodgkin and non-Hodgkin lymphomas, palatial, sickle cell anemia and thalassemia, etc. are adviced for bone marrow transplantation. More than 75.000 bone marrow transplants have been performed worldwide in 2015 and are expected to increase by 25% by the end of 2020. Bone marrow transplantation is known as either peripheral stem cell transplantation (PSCT) or conventional bone marrow transplantation based on the source of the bone marrow or stem cells. High demand for BMOs and continued field work to reduce the risk of negative effects of BMO transplantation can lead to a new market peak for millions of people around the world to improve healthcare.
The report provides analysis of global bone marrow transplantation market for the period 2016-2027, wherein 2020 to 2027 is the forecast period and 2019 is considered as the base year.
The last resort usually prescribed by physicians for bone marrow and blood cancer is bone marrow transplantation. As a result, the spiraling incidence of these diseases, usually blood cancer, may be conveniently projected to be a key force driving the growth of the global bone marrow transplantation industry. Bone marrow dysfunction can be particularly harmful to the health of the human body. In this respect, an increasing need for bone marrow transplantation may be caused by an increasing ubiquity of unhealthy diets, inactive living, and alcohol and nicotine abuse.
There is a move towards climbing on the part of bone marrow transplantation, with patients being more positive about the treatment. Improving the clinical status of patients may be due to intensive study and production of bone marrow transplants. This is expected to greatly improve the success of the global bone marrow transplantation industry as the procedure continues to be unquestionable and technically advanced. Extensive work on the recruitment, processing and logistical and biological considerations of the donated bone marrow may provide an explanation for increased efficiency.
Europe is expected to remain at its highest position as compared to other geographies, accounting for 60 per cent of the global market share. North America is the second largest region followed by Europe. The bone marrow industry would allow the area to thrive on factors such as rising cases of chronic diseases, such as blood cancer, coupled with growing aging populations. Asia Pacific demand for successful bone marrow transplantation may not be as high as the European and North American industries, which will also become an important medical tourism sector.
Improved success rate for bone marrow transplantation for potential increase in adoption
Patient survival rates following bone marrow transplantation have dramatically improved in recent years, with a significant increase in demand for bone marrow transplantation. Leukemia and other blood cancers could be the safest cure option at the end of the day. For example, FMT in the United States stated that the 1-year survival rate for the Mayo Foundation for Medical Education and Research was 73 per cent for BMTs and 98 per cent for BMTs in the United States.
The increasing prevalence of blood cancer is driving demand for bone marrow transplantation in emerging regions
The incidence of blood cancer has increased over the last decade. In developing countries, the incidence of blood cancer is 1.5X higher than in developed areas. Increased per capita income has contributed to a significant increase in healthcare spending in most developed regions. The total demand for bone marrow transplantation in the country is expected to increase.
Simple Access to Bone Marrow Care in the United States
Policies such as state bone marrow registries, hematopoietic cell registries for non-profit cells, state marrow donation programs, etc., have made it easy for patients to access the otherwise complicated test cycle in the US. For example, according to a study in the US, the incidence of bone marrow transplantation increased by 5% between 2009 and 2013.
Key Players & Strategies
Participants include major global Agendia, Sanofi, Diadexus Inc., Abbott, Qiagen N.V., and Others.
Market By Type
Allogeneic bone marrow transplant
Autologous bone marrow transplant
Market By Indications
Market By End-User
Ambulatory surgical centre
Market By Geography
Middle East & Africa
The Bone Marrow Transplantation market value is anticipated to be worth around US$ 15Bn in 2027.
The Bone Marrow Transplantation market is anticipated to grow around 5.7% CAGR amid the forecast period 2020-2027.
Europe held highest market share in 2019.
Asia Pacific is projected to be the fastest growing region in the global market.
Increased prevalence of cancer is the key drivers in the global market.
Hospitals held the largest share by end-user in global Bone Marrow Transplantation market
Allogeneic bone marrow transplant held the largest share by type in global Bone Marrow Transplantation market