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| Bone Marrow Transplant Market |
The Bone Marrow Transplant Market is estimated to be valued at US$ 6303.19 Mn in 2023 and is expected to exhibit a CAGR of 4.0% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Bone marrow transplant is a medical procedure in which unhealthy bone marrow is
destroyed using chemotherapy, radiation or both. The destroyed bone marrow is
then replaced by healthy bone marrow stem cells from the body of the patient
(autologous transplant) or from a donor (allogeneic transplant). Bone marrow
transplants are commonly used to treat blood cancers such as leukemia,
lymphoma, multiple myeloma, bone marrow failure syndromes and other diseases.
Market key trends:
The high prevalence of cancer is one of the key trends driving the growth of
the bone marrow transplant market. According to the National Cancer Institute,
cancer accounts for one in every six deaths globally. In addition, the rising
geriatric population is also driving the market growth as age is one of the
significant risk factors for developing various types of cancer such as
leukemia and multiple myeloma, which require bone marrow transplant procedures.
Furthermore, increased awareness regarding various clinical trials and the
availability of advanced treatment options including bone marrow transplant is
also fueling the demand for bone marrow transplantation.
Porter’s Analysis
Threat of new entrants: New entrants face high initial capital investment and
regulatory barriers to enter the bone marrow transplant market. The market players
hold strong brand loyalty that makes difficult for new players to penetrate the
market.
Bargaining power of buyers: The bargaining power of buyers is moderate in the
bone marrow transplant market. The high cost associated with bone marrow
transplant procedures limits switching between existing substitutes.
Bargaining power of suppliers: Suppliers have moderate to low bargaining power
due to the presence of a large number of raw material suppliers in the market
and low switching costs. Substitute suppliers also limit the suppliers’ power.
Threat of new substitutes: New substitutes like stem cell therapy pose a threat
but bone marrow transplant is still considered as a mainstream treatment
option.
Competitive rivalry: High due to presence of global and regional market
participants aiming to gain market share through product innovation and
expansion.
SWOT Analysis
Strength: Bone marrow transplant is a well-established treatment option for
several types of blood cancer and blood-related conditions. Technological
advancements have improved success rates of bone marrow transplant.
Weakness: High cost associated with bone marrow transplant procedures limits
its adoption. Risk of infection, graft failure are major concerns
post-transplant.
Opportunity: Increasing prevalence of blood cancer and blood disorders present
growth opportunities. Emerging economies provide scope for market expansion.
Threats: Stringent regulatory landscape increases compliance costs. Risk of
substitutes like stem cell therapy cannibalizing market share poses a threat.
Key Takeaways
The global Bone
Marrow Transplant Market Share is
expected to witness high growth, exhibiting CAGR of 4.0% over the forecast period, due to increasing prevalence
of blood disorders like leukemia and lymphoma. As per market estimates, the
market was valued at US$ 6303.19 Mn
in 2023 and is anticipated to reach US$ 8712.42 Mn by 2030.
Regional analysis: North America dominates the global bone marrow transplant
market accounting for more than 33% of the global market share in 2023 owing to
increasing cases of blood cancer, growing healthcare expenditure, presence of
major market players in the US. Asia Pacific region is anticipated to exhibit
fastest growth over the forecast period with a CAGR of 5.5% between 2023 to 2030
supported by improving healthcare infrastructure and adoption of transplant
procedures in China, India and other Asian countries.
Key players operating in the bone marrow transplant market are Lonza, Merck
KgaA, Sanofi, AllCells, STEMCELL Technologies Inc., Charles River Laboratories,
Beike Biotechnology Co., Ltd., FUJIFILM Cellular Dynamics, Inc., CORESTEM,
Inc., Gamida Cell, Lifeline Cell Technology, Mesoblast Ltd, and PromoCell GmbH.
These players focus on new product launches, expansions and collaborations to
gain
Read More,
https://www.newsstatix.com/bone-marrow-transplant-market-trends-size-and-share-analysis/
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