Increasing incidence of blood cancer is a primary driver of the global bone marrow transplant market. Aided by lifestyle factors such as the rising prevalence of smoking of alcohol consumption, sedentary lifestyles, and unhealthy diets, the prevalence of cancers, particularly blood cancers, has increased in the last few decades. This has driven the bone marrow transplant market, as malfunctioning bone marrow can be extremely harmful to the body. By disease type, leukemia is the major contributor to the global bone marrow transplant market.
The infrastructure required to carry out bone marrow transplant procedures has also expanded in the last few decades. Increasing research into the biological and logistical factors of storing and using donated bone marrow has made the process smoother and easier. This has led to higher patient confidence and, consequently, improved market performance.
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Intensive research in bone marrow transplant has made the process more reliable, thereby increasing the prognosis of the patient significantly. This has also driven patient confidence in the procedure, which in turn is driving the global market.
Global Bone Marrow Transplant Market: Restraints
High cost of bone marrow transplant is a major restraint of the global bone marrow transplant market. The process is highly sophisticated and requires constant monitoring and post-operative care. Hence, it costs more than what the average consumer, even in developed countries, can pay. Increasing demand is likely to help the bone marrow transplant market overcome this restraint. The adverse impact of this factor on the bone marrow transplant market is exacerbated by the lack of reimbursement options for the treatment.
Lack of bone marrow donors is another major factor restraining the global bone marrow transplant market. Less awareness about the procedure in the developing countries has resulted in shortage of bone marrow donors.
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Global Bone Marrow Transplant Market
Bone marrow is a type of human tissue found within bones. It constitutes less than 5% of the human body by mass. However, it is a crucial part of the human circulatory and immune systems, as it produces red blood cells and lymphocytes. Hence, diseases of the bone marrow or affecting the bone marrow can be fatal. Bone marrow transplant is a procedure utilized in extreme cases of bone marrow diseases and skin and bone cancer.
A transplant is the last resort in such cases, as bone marrow is required for proper functioning of the body. However, the increasing prevalence of conditions that require a complete bone marrow transplant has driven the global market for the same in the last few years. The most common diseases that require bone marrow transplant include leukemia, thalassemia, Hodgkin and non-Hodgkin lymphoma, and anemia.
Global Bone Marrow Transplant Market: Geographical Overview
Europe dominated the global bone marrow transplant market. The region is home to some of the world’s most extensively distributed and advanced health care systems, with several countries offering excellent public facilities. This has allowed the region’s health care players to add bone marrow transplant to their portfolios.
Europe is expected to continue to dominate the global bone marrow transplant market in the next few years. However, the bone marrow transplant market in North America is showing promising signs of growth.
Major companies providing bone marrow transplant equipment are Lonza Group Ltd., Sanofi-Aventis LLC, STEMCELL Technologies, Merck Millipore Corp., and AllCells LLC.