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Hematopoietic Stem Cell Transplantation Market: Industry Analysis and Forecast 2024-2033
Hematopoietic Stem Cell Transplantation Global Market Report 2024
According to The Business Research Company's, The hematopoietic stem cell transplantation market size has grown strongly in recent years. It will grow from $4.24 billion in 2023 to $4.65 billion in 2024 at a compound annual growth rate (CAGR) of 9.6%. The growth in the historic period can be attributed to early transplantation techniques, limited indications and donor sources, advancements in conditioning regimens, emergence of allogeneic transplants, regulatory milestones.
The hematopoietic stem cell transplantation market size is expected to see rapid growth in the next few years. It will grow to $6.82 billion in 2028 at a compound annual growth rate (CAGR) of 10.1%. The growth in the forecast period can be attributed to expanded treatment indications, donor source diversification, personalized medicine and genomics, regulatory changes and guidelines, market expansion and accessibility. Major trends in the forecast period include advancements in transplant techniques, expansion of indications, emerging cellular therapies, donor diversification, precision medicine approach.
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Market Drivers and Trends:
The increased frequency of blood cancer is expected to propel the growth of the hematopoietic stem cell transplantation market. A group of malignancies that impact the development and operation of blood cells are referred to as blood cancers. Leukemia, lymphoma, and myeloma are the three main types of blood cancer. By replacing stem cells and bone marrow cells that have been killed by the malignancy, hematopoietic stem cell transplantation is generally used to treat blood cancer. These new stem cells can then move to the bone marrow and start creating new blood cells. So, these factors boost the hematopoietic stem cell transplantation market. For instance, in August 2022, according to the report shared by Blood Cancer UK, a UK-based non-profit organization, there are 41,000 blood cancer cases identified each year, making blood cancer the sixth most prevalent malignancy in the UK. Blood cancer, which affects one in 16 men and one in 22 women at some time in their lives, will afflict around 250,000 people in the UK in 2022. Additionally, more than 500 children under the age of 15 are affected by blood cancer each year. 400 of them have pediatric leukemia, and 100 of them have lymphoma. Therefore, the increased frequency of blood cancer drives the hematopoietic stem cell transplantation market.
Product approvals are a key trend gaining popularity in the hematopoietic stem cell transplantation market. Major companies operating in the hematopoietic stem cell transplantation market are adopting product approvals to sustain their position in the market. For instance, in April 2022, Priothera Ltd., an Ireland-based late-clinical stage biotechnology company, received the United States Food and Drug Administration (FDA) clearance of an investigational new drug (IND) to begin an allogeneic hematopoietic stem cell transplant (HSCT) Phase IIb/III research study with mocravimod in patients with acute myeloid leukemia (AML). Mocravimod is a synthetic sphingosine 1-phosphate receptor (S1PR) modulator, also known as KRP203. Phase I and Phase II trials have evaluated the safety, tolerability, and effectiveness of this unique experimental medication for a number of autoimmune diseases.
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Major Key Players of the Market:
Pluristem Therapeutics Inc.; Lonza Group AG; Escape Therapeutics Inc.; Regen Biopharma Inc.; Bluebird Bio Inc.; CellGenix GmbH; CBR Systems Inc.; Merck KGaA; Cord Blood Corporation; Kiadis Pharma NV; Marker Therapeutics Inc.; Taiga Biotechnologies Inc.; Takeda Pharmaceutical Company Limited; Talaris Therapeutics Inc.; ViaCord LLC; ScienCell Research Laboratories Inc.; BiolineRx; Stemcell Technologies Inc.; ThermoGenesis Holdings Inc.; MEDIPOST Co. Ltd.; Anterogen. Co. Ltd.; Pharmicell Inc.; NuVasive Inc.; RTI Surgical Ltd.; JCR Pharmaceuticals Co. Ltd.; Holostem Terapie Avanzate Srl; Regrow Biosciences Pvt Ltd.; Stempeutics Research Pvt Ltd.; 3D Biomatrix; Worthington Biochemical
Hematopoietic Stem Cell Transplantation Market 2024 Key Insights:
• The hematopoietic stem cell transplantation market size will grow to $6.82 billion in 2028 at a compound annual growth rate (CAGR) of 10.1%.
• Rising Blood Cancer Incidence Fuels Growth In The Hematopoietic Stem Cell Transplantation Market
• Product Approvals Drive Advancements In The Hematopoietic Stem Cell Transplantation Market
• North America was the largest region in the hematopoietic stem cell transplantation market in 2023
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