The global Bone Marrow Transplant Market is estimated to be valued at US$ 6303.19 Mn or 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.
Bone marrow transplant involves replacing the unhealthy bone marrow with healthy bone marrow stem cells from a matching donor. It is used in the treatment of various chronic diseases including blood cancer, anemia and other bone marrow failures diseases. Bone marrow stem cells harvested from a donor have the potential of differentiating into all types of blood and immune system cells. Bone marrow transplant provides long term benefits in the treatment of life-threatening conditions by restoring the blood and immune system of patients. Advances in research is helping to expand use of bone marrow transplants in a broader range of diseases and conditions.
Market key trends:
One of the key trends in the bone marrow transplant market is growing use of peripheral blood stem cells (PBSCs) as an alternative to traditional bone marrow as a stem cell source. PBSCs have now become the standard of care for bone marrow transplants as they provide faster recovery of white blood cell and platelet counts. Increased research efforts are also focused on developing alternative stem cell sources like cord blood and induced pluripotent stem cells for transplantation to expand patient access and success rates. The market is also witnessing development of novel treatment approaches involving modification of donor cells using gene therapy which has potential to treat wider range of conditions.
Threat of new entrants: The threat of new entrants is moderate as high capital requirement and specialized expertise restrict the entry of new players in the bone marrow transplant market.
Bargaining power of buyers: The bargaining power of buyers is moderate as there are few substitute options available compared to bone marrow transplantation.
Bargaining power of suppliers: The bargaining power of suppliers is high as specialized reagents and equipment providers have significant influence over market pricing.
Threat of new substitutes: The threat of new substitutes is low as bone marrow transplantation has established itself as gold standard therapy for various hematological malignancies and genetic diseases.
Competitive rivalry: High.
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 demand for allogeneic bone marrow transplants to treat diseases like leukemia, lymphoma and multiple myeloma. North America currently dominates the bone marrow transplant market owing to higher healthcare expenditure, advanced medical infrastructure and larger patient pool.
Regional analysis: Asia Pacific is anticipated to be the fastest growing market for bone marrow transplant during the forecast period. Presence of emerging economies such as India and China with increasing healthcare investments and expanding network of transplant centers will drive the market in this region. Additionally, increasing awareness about bone marrow transplant (BMT) as a treatment option for various hematological cancers will fuel the demand.
Key players: Key players operating in the bone marrow transplant market include 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. Lonza and Merck KgaA collectively account for over one-fourth of the total market share.
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it