Industry: Healthcare
Published Date: May-2022
Format: PPT*, PDF, EXCEL
Delivery Timelines: Contact Sales
Number of Pages: 190
Report ID: PMRREP4288
The procedure of replacing damaged bone marrow stem cells with healthy tissue is known as bone marrow transplantation. Bone marrow is a soft vascular substance found inside long bones that are principally responsible for hematopoiesis (the generation of blood cells), lymphocyte synthesis, and fat storage. The procedure of bone marrow transplantation is prescribed for the treatment of advanced stages of leukemia, Hodgkin, and non-Hodgkin lymphomas, multiple myeloma, aplastic and sickle cell anemia, thalassemia, and the other diseases. Increasing awareness, combined with an increase in initiatives run by healthcare practitioners, is majorly responsible for the global growth of Bone Marrow Transplantation Market. The global Bone Marrow Transplantation market is estimated at $ 10,357.1 million in 2022 and is expected to grow at a CAGR of 3.7% from 2022 to 2028, reaching $ 12,856 million by 2028.
| Attribute | Key Insights |
|---|---|
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Bone Marrow Transplantation Market Size (2022) |
US$ 10,357.1 Mn |
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Projected Market Value (2028) |
US$ 12,856.0 Mn |
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Global Market Growth Rate (2022 - 2028) |
3.7% CAGR |
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Share in parent market |
80.4% |
The rising prevalence of blood cancer, combined with the ease of access to bone marrow transplantation therapy, is driving the market for bone marrow transplantation. Furthermore, the commercialization of cell therapy and tissue engineering products is fueling the market growth.
The adoption of bone marrow transplantation procedures has increased significantly in the last few years because of the high Patient survival rates. Bone marrow transplantation is regarded as the most effective and guaranteed therapy choice for advanced leukemia and the other blood cancers.
The rising prevalence of cancer and anemia is the primary driver of the global bone marrow transplant market. To treat advanced stages of blood cancer, sickle cell anemia, and the other chronic diseases, a bone marrow transplantation procedure is recommended. Bone marrow transplantation procedures are regarded as the most efficient and reliable treatment options for certain chronic diseases.
Technological advancements and improved healthcare infrastructure are expected to drive market growth. Extensive research activities and an increase in the number of product launches will enhance the growth of the market throughout the predicted period. Apart from this, emerging indications of bone marrow transplant for cardiac and neurological problems, increasing investment in logistic services, and rising per capita healthcare spending are some of the other factors likely to drive the global bone marrow transplantation market.
The high cost of therapy, along with a lack of reimbursement policies, has slowed down the acceptance of bone marrow transplantation. Besides, lack of bone marrow donors is a major impediment to the growth of the global bone marrow transplantation market.
The Covid-19 pandemic resulted into a huge burden on the global healthcare facilities because of the rising covid-19 positive patients between March 2020 and September 2021. Healthcare facilities around the world were flooded with Covid-19 patients, which resulted into the cancellation or postponement of the other procedures. Hence, the Covid-19 outbreak had a negative impact on the Bone Marrow Transplantation Market.
The Bone Marrow Transplantation market is highly competitive and consists of a number of major players. To increase their global market presence, market leaders are engaging in various product launches and development activities focusing on orthopedic surgical treatments.
| Attribute | Details |
|---|---|
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Forecast Period |
2022 - 2028 |
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Historical Data Available for |
2013-2021 |
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Market Analysis |
US$ Mn/Bn for Value |
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Key Regions Covered |
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Key Countries Covered |
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Key Market Segments Covered |
By End User |
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Key Companies Profiled |
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Customization & Pricing |
Available upon Request |
Bone Marrow Transplantation Market by End User
Bone Marrow Transplantation Market by Transplant Type
Bone Marrow Transplantation Market by Disease Indication
Bone Marrow Transplantation Market by Region
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In 2022, the Bone Marrow Transplantation Market stands at USD 10,357.1 million, and it is expected to reach USD 12,856 million by 2028 at a CAGR of 3.7%.
Bone Marrow Transplantation Market exhibited a CAGR of 3.1% between 2013 and 2021.
High cost of the treatment and a lack of bone marrow donors are the key restraints in the Bone Marrow Transplantation Market.
Rising Adoption of Bone Marrow Transplantations and Increasing Prevalence of Cancers and Anemia are the key factors driving the growth of the market.
Merck Millipore Corporation, Sanofi-Aventis LLC., STEMCELL Technologies., American Type Culture Collection (ATCC) Inc, ReeLabs Pvt. Ltd., and HemaCare are among the top players in the market.
