Bone Marrow Transplant Market 2018 With Major Key Players STEMCELL Technologies, Merck Millipore Corporation, Sanofi-Aventis , AllCells, ReachBio
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.
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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:
Sickle cell Anemia
According to Centre for Disease control and prevention (CDC), cancer is one of the most prevalent chronic diseases, with around 20.3 million cases diagnosed in 2014. The U.S government is taking initiatives to prevent and cure the disease as a result of which, large investments in this field are expected in the near future. For instance, the National Institutes of Health (NIH), an institute of the U.S. Department of Health and Human Services (HHS), is the primary federal agency for conducting and supporting medical research. It is composed of 27 Institutes and Centers, including the National Cancer Institute (NCI), and which provides leadership and financial support to researchers in the U.S. and throughout the world.
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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