Bone marrow Transplantation Market report contains detailed information on factors influencing demand, growth, opportunities, challenges, and restraints. It provides detailed information about the structure and prospects for global and regional industries. In addition, the report includes data on research & development, new product launches, product responses from the global and local markets by leading players. The structured analysis offers a graphical representation and a diagrammatic breakdown of the Bone marrow Transplantation Market by region.
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The global bone marrow transplantation market size is projected to surpass US$ 18.5 Billion by 2030; growing at a CAGR of 6.2% from 2021 to 2030. Bone marrow is a soft, spongy gelatinous tissue found inside the thigh bones and hip bones. It contains stem cells. Human body needs healthy bone marrow to live in a normal condition. When a condition or disease affects bone marrow, it is unable to function effectively, bone marrow transplant is required at this stage. Bone marrow transplant is a cure for serious issues like blood cancer and sickle cell anemia. A bone marrow transplant is a surgical procedure, performed to restore the defected or infected bone marrow which is destroyed by any disease, any kind of infection, or chemotherapy.
Bone marrow transplants are done when Bone marrow of the individual isn’t healthy enough to function on its own. The transplantation process is very treacherous as it involves high level of complications. Some of the complications that occur during the procedure are-drop in the blood pressure, headache, nausea, pain, lack of oxygen, fever and others. Bone marrow is one of the critical components of the body’s immune and circulatory system which is involved in the production of lymphocytes and RBC, hence any kind of issue can even cost the life of the individual. A successful bone marrow transplant can save a life, which is one of the factors which marks the boost in the global bone marrow market. Bone marrow transplantation includes transplantation of blood stem cells, which travel to the bone marrow where they produce new blood cells and promote growth of new Bone marrow. The growing cases of cancer and anemia is the key factor in the boost of the global bone marrow market.
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Market Analysis
Recently the global bone marrow transplantation market has seen a significant increase in the number of bone marrow transplants. Increasing awareness, along with a rise in campaigns promoting the transplantation, which are run by healthcare practitioners, is mainly responsible for the hike in the number of bone marrow transplants globally. The global bone marrow transplant market is quite leading in developed regions like the United States.
The number of bone marrow donors is low in developing regions as compared to developed regions. For instance, availability of donors is low in China which has negatively affected the market in the country. Low availability of HLA-matched bone marrow donors, along with the cost effectiveness, has been negatively affecting the growth of the global bone marrow transplantation market over the years. Only 40% patients in the world receive bone marrow transplantation in a year. Firstly, for successful transplant, the patient needs a matching donor, 70% of the patients cannot find a matching donor within their family. These patients will depend on a registry to help them find a donor. Finding a donor is really difficult especially in the developing countries plus it is costlier process.
The availability of resources, such as national bone marrow registries, non-profit hematopoietic cell registries, national marrow donor programs, which has paved an easy path for the transplantation and the global bone marrow market accounted 5% increase in the bone marrow transplantation rate. The growing demand and market presence of many companies involved in testing and trials of cellular therapy and tissue engineering products, in turn, is expected to increase the demand for bone marrow transplantation procedure globally.
The main challenge in the global bone marrow transplant market is that it is highly costly, finding donors is difficult and lack of compensation policies for bone marrow transplantation procedure in developing regions is responsible for the slower development of bone marrow transplantation procedure, especially in under-developed regions. Only 30% of the global population has been accounted to undergo bone Marrow transplantation.
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Market Segmentation
The global bone marrow transplantation market is segmented on the basis of Transplantation type, Indication, End Use, and Region. On the basis of transplantation, the global bone marrow transplantation market is segmented into autologous bone marrow transplantation and allogeneic bone marrow transplantation. Based on the indication type, the global bone marrow market is segmented into leukemia, myeloma, aplastic anemia, sickle cell anemia, thalassemia, solid tumors and others. Based on the end user, the global bone marrow transplantation market is segmented into hospitals, surgical centers, and multi-specialty clinics.
Geography Analysis
By region, the global bone marrow market is bifurcated into North America, Europe, Asia-Pacific, and Middle East & Africa (MEA). North America is further segmented into U.S. and Canada. Europe is further segmented into Western Europe (Germany, Italy, U.K, Spain, France) and Eastern Europe (Russia, Poland, Rest of Eastern Europe), Asia-Pacific is segmented into China, India, Japan, Australia and New Zealand. Middle East and Africa is segmented into GCC, South Africa, North Africa, Rest of MEA.
Some prominent players in the global bone marrow market are Merck Millipore Corporation, Sanofi-Aventis LLC., American Type Culture Collection (ATCC) Inc., STEMCELL Technologies, ReeLabs Pvt. Ltd., and HemaCare among others.
What is the goal of the report?
- The market report presents the estimated size of the Bone marrow Transplantation market at the end of the forecast period. The report also examines historical and current market sizes.
- During the forecast period, the report analyzes the growth rate, market size, and market valuation.
- The report presents current trends in the industry and the future potential of the North America, Asia Pacific, Europe, Latin America, and the Middle East and Africa markets.
- The report offers a comprehensive view of the market based on geographic scope, market segmentation, and key player financial performance.
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