by Bone marrow transplant (BMT), also known as stem cell transplant, is a medical procedure where healthy hematopoietic stem cells are transfused into a patient to replace damaged or destroyed bone marrow. It is used as a treatment for various blood cancers such as leukemia, lymphoma, and multiple myeloma as well as certain genetic disorders and immune system disorders. The procedure has evolved significantly with advancements in stem cell collection methods, improved patient selection criteria, and better post-transplant care.
Blood and bone marrow diseases pose a significant burden globally, necessitating advanced treatment options. With rising prevalence of cancers that can potentially be treated with BMT, the demand for stem cell collection and transplant procedures is increasing steadily. Additionally, growing awareness among patients and physicians about the potential benefits of BMT in managing rare hematological disorders is supporting new patient enrollments.
The global bone marrow transplant market is estimated to be valued at US$ 6303.19 Mn in 2023 and is expected to exhibit a CAGR of 8.2% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
One of the key trends spurring market growth is the increasing R&D efforts towards the development of novel stem cell sources and transplant procedures. Umbilical cord blood is emerging as an attractive alternative to bone marrow for transplant due to its easier availability and lesser risk of graft-versus-host disease. Similarly, advances in ex-vivo expansion of hematopoietic stem cells allow the use of partial HLA-mismatched donors for transplant. Adoption of techniques like reduced intensity conditioning that mitigate transplant-related toxicities is also encouraging wider patient eligibility. Further, strategies like induced pluripotent stem cell technology offer potential for generating patient-specific graft material in the future. Such advancements are expected to make BMT more effective and accessible over the coming years.
Porter’s Analysis
Threat of new entrants: High costs of capital required for infrastructure and regulatory approvals pose barrier for new entrants.
Bargaining power of buyers: Buyers have moderate bargaining power as bone marrow transplant procedures are generally covered by insurance or government healthcare programs.
Bargaining power of suppliers: Suppliers have moderate bargaining power due to presence of substitute products and need for specialized infrastructure for cord blood banking and stem cell research.
Threat of new substitutes: Emergence of alternative treatment options like gene and immunotherapy pose threat of substitution.
Competitive rivalry: Intense due to presence of large multinational companies and specialized regional players.
Key Takeaways
The Global Bone Marrow Transplant Market Size is expected to witness high growth over the forecast period of 2023 to 2030. The global bone marrow transplant market is estimated to be valued at US$ 6303.19 Mn in 2023 and is expected to exhibit a CAGR of 8.2% over the forecast period 2023 to 2030.
North America region currently dominates the market owing to high healthcare spending and early adoption of advanced treatment procedures in countries like US and Canada. This is attributed to presence of major market players, growing prevalence of blood cancer and increased adoption of advanced bone marrow transplant procedures in the region.
Key players related content: Key players operating in the bone marrow transplant market are Lonza, Merck KgaA, Sanofi, AllCells, STEMCELL Technologies Inc., Charles River Laboratories, Beike Biotechnology Co., Ltd., FUJIFILM Cellular Dynamics, Inc., CORESTEM, Inc., Gamida Cell, Lifeline Cell Technology, Mesoblast Ltd, and PromoCell GmbH. These players are focusing on expansion of their distribution network and launching new technologically advanced products to strengthen their market position.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
