Global Bone Marrow Processing Systems Market Growth during the Forecast Period, 2018-2028 / Key manufacturers ThermoGenesis (Cesca Therapeutics inc.), RegenMed Systems Inc., MK Alliance Inc., Fresenius Kabi AG, Harvest Technologies (Terumo BCT), Arthrex,
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The attractive benefits of bone marrow processing systems over manual bone marrow aspiration and analytical chemistry isolation methods, such as consistency, high recoveries in a targeted volume, simultaneous processing, automation, smaller processing times, elimination of cell separation media or sedimentation agents, are driving the adoption of bone marrow processing systems. Other advantages, such as decreased risk of graft-versus-host diseases (GVHD) negate the high cost of bone marrow processing systems. The advancements in bone marrow harvest and bone marrow needles technology are also driving bone marrow processing system’s market growth.
However, high cost of installation and maintenance, lack of trained work force and the nascent stage of technology represent some of the restraints in the global bone marrow processing systems market. The high cost of bone marrow transplant procedures, risk of infections and poor healthcare infrastructure in developing regions are some other constraints in the bone marrow processing systems market. The bone marrow aspiration pain and the highly invasive nature of the procedure might also hamper the bone marrow processing system market over the forecast period.
The global market for bone marrow processing systems is highly consolidated with a handful players dominating the scene. The bone marrow processing system market trends include a definite shift in favor of developing regions of Asia Pacific, such as India and China. There is also a strong trend of collaborations between large hospitals and third party payers as the technology is in its nascent stage and the installation base of bone marrow processing systems is quite small. Technology gains from product development represent the largest value proposition.
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The global bone marrow processing systems market is classified into the following regions: North America, Latin America, Western Europe, Eastern Europe, Asia-Pacific, Japan, Middle East and Africa. North America, dominated by the US, accounts for the largest share in the global bone marrow processing systems market owing to the concentration of key market players, strong research and development expenditure and quick uptake of latest technologies.
Asia Pacific excluding Japan bone marrow processing systems market is expected to grow at fastest CAGR owing to growing healthcare expenditure and improvements in healthcare infrastructure. China and India are expected to drive a lion’s share of the market owing to growing healthcare infrastructure and healthcare expenditure.
The Europe bone marrow processing systems market is expected to be led by Germany, France and the U.K. The Middle East and Africa bone marrow processing systems market is expected to be skewed in favor of gulf economies of Saudi Arabia, Kuwait and Qatar. The development of large medical complexes, such as the King Fahd Hospital in Riyadh, Saudi Arabia, coupled with large public healthcare share is expected to drive the market for bone marrow processing systems in the MEA.
Bone Marrow Processing Systems Market: Key Players
Examples of some of the major players operating in the global bone marrow processing systems market are ThermoGenesis (Cesca Therapeutics inc.), RegenMed Systems Inc., MK Alliance Inc., Fresenius Kabi AG, Harvest Technologies (Terumo BCT), Arthrex, Inc. and others.
Cesca Therapeutics inc. is the leader in the bone marrow processing system market accounting for the largest market share and is followed RegenMed Systems Inc. and others. Technology gains represent the best strategy in the market as market position of the firm can yield a large premium. Thus firms are engaged in the development of better products rather than cost reduction. For example, in July 16, 2018, Cesca Therapeutics launched its latest PXP bone marrow cells processing system which is a point-of-care setting, designed for surgical centers and clinics. The system is claimed to address red blood cell contamination, a serious shortcoming of currently-available systems. The system is a follow on of the company’s CAR-TXpress and related X-Series systems and is expected to strengthen its hold on the market.
The global bone marrow processing systems report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
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