In a run to bring cure for many critical medical conditions like leukemia, hiv, cancer, and other related issues have forged the bone marrow transplant to bring a solution in today’s time. The bone marrow is a critical procedure that requires an appropriate donor whose cell can bring a significant recovery in the medical condition of the receiver. Further, damaged cells in the human body can be regenerated with the help of bone marrow transplant. On the back of these factors, the bone marrow transplant market is projected to grow at a CAGR of ~4% during 2015-2021.
Globally, there were more than 75,000 bone marrow transplant procedures that were conducted in 2015 and this number is further projected to expand exponentially. Thus, paving the way for the medical practioners, hospitals and related to be benefitted in near future. Until 2015, Europe stood at first position in number of bone marrow transplant procedures followed by North America. Further, it is projected that the North America is ready to receive a boost and may surpass Europe market by 2020. In addition to that, Asia-Pacific bone marrow transplant market is expected to expand at a decent rate due to increased medical tourism in the region.
Bone marrow is the spongy, greasy tissue present in the bone cavities. The bone marrow transplant procedures are being carried out for various medical conditions. Bone marrow transplant also known as hematopoietic stem cell helps in curing the critical medical conditions surfaced due to damaged bone marrow cells. The technique replaces the old damaged tissues with new ones and helps in curing many diseases.
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In 2015, more than 75,000 bone marrow transplants were executed around the globe. Further, it is expected that the bone marrow transplant procedures would reach 96,100units in 2021 annually, expanding at a compound annual growth rate (CAGR) of 4.2%.
Based on transplantation type, the global bone marrow transplantation market is segmented basis: Allogeneic Bone marrow Transplantation, Autologous Bone Marrow Transplantation
Based on the disease indication, the global bone marrow transplantation market is divided into following: Lymphoma, Leukemia, Myeloma, Myelodysplasia, Aplastic Anemia, Sickle cell Anemia, Solid tumors, Thalassemia
Based on the end user type, the global bone marrow transplantation market can be segmented into: Multispecialty Clinics, Hospitals,Ambulatory Surgical Centers
Growth Drivers and challenges
Increasing prevalence of anemia and cancers across the globe is the major growth driver for the global bone marrow transplantation market.
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In addition to that, improvement in technology, development in healthcare infrastructure, increased penetration of medical insurances and expanded personal disposable income around the world are expected to drive the global bone marrow transplantation.
High cost involved in the treatment and lack or less number of bone marrow donors are the major challenges for global bone marrow transplantation market.
Market Size and Forecast
Globally, Europe has fairly large market share and it is expected to remain at its top position when compared to other geographies; accounting 60% of global revenue share and anticipated to touch USD 6.05 Billion in the year 2021.
At present, North America is the second biggest market after Europe. Factors like increasing cases of chronic diseases like blood cancer in sync with up-surged aged population would help the bone marrow industry to flourish in the region.
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Asia pacific bone marrow transplantation market might not be as big as those in Europe and North America but would become an attractive market for medical procedures for medical tourists (due to low cost procedures).
Sanofi-Aventis LLC., PromoCell GmbH, STEMCELL Technologies, Merck Millipore Corporation, ReachBio LLC.,AllCells LLC.,Cruline Human biospecime PRO, Lifeline Cell Technology, Conversant Bio
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