by Bone marrow transplant involves replacing unhealthy bone marrow with healthy marrow stem cells. The procedure is a challenging one requiring compatibility between donor and recipient. However, the market offers advantages such as long-term patient survival, management of high-risk cancers and hereditary disorders. It has become an important treatment option for various cancers such as leukemia, lymphoma and multiple myeloma. Allogeneic transplants from related or unrelated donors are commonly conducted.
The Global Bone Marrow Transplant Market is estimated to be valued at US$ 7261.28 Mn in 2024 and is expected to exhibit a CAGR of 6.7% over the forecast period from 2024 to 2031.
Key Takeaways
Key players: Key players in the bone marrow transplant market include Shenzhen Mindray Bio-Medical Electronics Co., Ltd., Getinge AB and General Electric Company among others. These players are focusing on expanding their product portfolios and geographical presence through mergers and acquisitions.
Growing demand: There is a growing demand for bone marrow transplant procedures due to the increasing incidence of blood cancers such as leukemia. Favorable reimbursement policies are also boosting the market growth.
Global expansion: Major market players are expanding their operations globally, especially in developing countries in Asia Pacific and Latin America. This is attributed to the large patient pools and increasing healthcare expenditures in these regions.
Market key trends
The Bone Marrow Transplant Market Size is witnessing the trend of increasing use of peripheral blood stem cells rather than traditional bone marrow due to ease of collection and quick engraftment. Umbilical cord blood is also gaining popularity as an alternative stem cell source. Moreover, novel technologies allowing identification of matched unrelated donors are enabling greater donor availability and improved transplant success rates.
Porter’s Analysis
Threat of new entrants: The bone marrow transplant market requires high capital investment which acts as a barrier for new players to enter the market. Regulatory approval procedures are also stringent for new players.
Bargaining power of buyers: Individual buyers have low bargaining power due to lack of information. However, large healthcare institutions and government bodies have moderate bargaining power due to their large market share.
Bargaining power of suppliers: A few major players dominate the supply market. However, presence of alternative suppliers provides options to buyers.
Threat of new substitutes: There are limited treatment substitutes for bone marrow transplant. Research is ongoing for development of new substitutes like stem cell therapy.
Competitive rivalry: The market has presence of many global as well as regional players. Companies compete on the basis of service quality, product innovation and geographic expansion.
Geographical regions:
North America dominates the global bone marrow transplant market in terms of value. This is attributed to factors such as presence of major market players, growing aging population, rising cancer incidence and development of healthcare infrastructure in the region.
Asia Pacific is expected to witness the fastest growth during the forecast period due to increasing healthcare spending, growing medical tourism industry and rising awareness about bone marrow transplant procedures in the region.
*Note:
1.Source: Coherent Market Insights, Public sources, Desk research
2.We have leveraged AI tools to mine information and compile it
