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Bone Marrow Transplant Market to witness consistent growth in next 5 years With Major Key Players STEMCELL Technologies, Merck Millipore Corporation, Sanofi-Aventis , AllCells, ReachBio

12-11-2018 08:53 AM CET | Health & Medicine

Press release from: Coherent Market Insights - Biotechnology

Bone Marrow Transplant

Bone Marrow Transplant

According to Centre for Disease Control (CDC), around 14.1 million people worldwide were diagnosed with cancer in 2012, leading to 8.2 million fatalities. Furthermore, around 19.3 million new cases of cancer are projected to be diagnosed by 2025. Also, prevalence of sickle cell anemia is increasing worldwide. This inadvertently would augment demand for bone marrow transplant, thereby fueling growth of the overall bone marrow transplant market.

Bone Marrow Transplant Market

On the basis of transplantation type, the global market is classified into:

Allogeneic Bone marrow Transplantation
Autologous Bone Marrow Transplantation
On the basis of the disease indication, the global market is classified into:

Lymphoma
Leukemia
Myeloma
Myelodysplasia
Aplastic Anemia
Sickle cell Anemia
Solid tumors
Thalassemia
Myeloproliferative Neoplasms

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Bone marrow transplant is a medical procedure to replace bone marrow damaged or destroyed by disease, infection, or chemotherapy. Bone marrow transplant procedure involves transplanting blood stem cells that travel to the bone marrow where they produce new blood cells and promote growth of new marrow. Bone marrow is the spongy, fatty tissue inside human bones, which creates the different parts of blood such as red blood cells that carry oxygen and nutrients throughout the body; white blood cells that fight infection; and platelets responsible for formation of clots. Bone marrow also contains juvenile blood forming stem cells known as hematopoietic stem cells (HSCs). The HSC found in the bone marrow constantly creates new blood cells. Bone marrow transplant replaces damaged stem cells with healthy cells. This helps the body produce optimum levels of white blood cells, platelets, or red blood cells to avoid infections, bleeding disorders, or anemia. For transplantation, healthy stem cells are procured from a compatible donor, or healthy bone marrow is extracted from a non-affected part in the patient’s body.

Increasing prevalence of cancers and anemia all over the world is the major driver for the growth of global bone marrow transplant market. And also, advances in technology, improving healthcare infrastructure, emerging indications of bone marrow transplant for heart and neuronal disorders, growing investment in logistic services, increasing per capita healthcare expenditure are some other factors expected to flourish the global bone marrow transplantation market. Major challenges for global bone marrow transplant market are high cost involved in the treatment and acute dearth of bone marrow donors.

Europe would retain its dominance in the global bone marrow transplant market in the foreseeable future. This is mainly attributed to high density of bone marrow transplant centers and growing bone marrow registries in the region. Latin America is estimated to witness rapid increase in volume of bone marrow transplant industry, due to high number of potential candidates for the procedure. Asia Pacific is characterized by relatively low prevalence of bone marrow related diseases and thus would not witness rampant growth in the near future. However, owing to easy access to high quality healthcare services at relatively low costs, the region is expected to emerge as a hub for medical tourists seeking bone marrow transplant.

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About Coherent Market Insights:
Coherent Market Insights is a prominent market research and consulting firm offering action-ready syndicated research reports, custom market analysis, consulting services, and competitive analysis through various recommendations related to emerging market trends, technologies, and potential absolute dollar opportunity.

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