Bone marrow transplant market is estimated to witness high growth owing to increasing prevalence of blood cancer & improving healthcare infrastructure
Bone marrow transplant market is estimated to be valued at USD 10.72 Bn in 2024, exhibiting a CAGR of 4.3% over the forecast period 2024-2031. Bone marrow transplants allow doctors to infuse high doses of chemotherapy and radiation to destroy cancer cells. Furthermore, rising number of patients undergoing bone marrow transplant procedures is expected to drive the market growth.
Market Dynamics:
Global bone marrow transplant market growth is driven by increasing prevalence of blood cancer coupled with improving healthcare infrastructure. According to the data by American Society of Clinical Oncology, nearly 1.2 million new cases of leukemia, lymphoma, and myeloma are diagnosed worldwide every year. Growing incidence of blood cancer has boosted demand for effective treatment procedures like bone marrow transplant. Increasing healthcare expenditure and government initiatives to improve access to healthcare facilities have enhanced availability of advanced treatment options. Moreover, ongoing research activities to develop effective bone marrow transplant techniques can drive the market growth. However, high cost associated with bone marrow transplant procedures can hamper the market growth.
Increasing Prevalence of Blood Cancer
Increasing prevalence of blood cancer such as leukemia, lymphoma and myeloma can drive the bone marrow transplant market growth. Blood cancers occur when the bone marrow produces abnormal blood cells. Bone marrow transplant is one of the most effective treatment options for treating several types and stages of blood cancer. According to the data published by Cancer Organizations, over 780,000 new cases of leukemia, lymphoma and myeloma are reported each year globally. Due to rising cases of blood cancers, there has been huge demand for bone marrow transplants for curative treatment.
Advancements in Bone Marrow Transplant Procedures
Continuous advancements and improvements in bone marrow transplant procedures have expanded the eligible patient pool for this treatment. Technological advancements such as reduced-intensity conditioning regimens, improved HLA matching techniques, and better graft manipulation methods have reduced the risks associated with transplant procedures. These advancements have allowed doctors to offer transplants to older patients and those with other health issues who were earlier considered ineligible for transplant. Improved post-transplant care and management of transplant complications have enhanced survival rates and quality of life for patients. These positive outcomes of new and advanced procedures are encouraging more patients to opt for bone marrow transplant. This is expected to offer growth opportunities for players in the bone marrow transplant market.
High Cost of Transplant Procedures
One of the major challenges faced by bone marrow transplant market is high cost associated with transplant procedures. The overall cost of an allogeneic bone marrow transplant ranges between USD 100,000 to USD 500,000 in the US. The costs include expenses related to pre-transplant testing, donor search, acquisition of stem cells, hospital stay, drugs, and post-transplant care. Moreover, patients may have to bear additional expenses for treatment of complications arising from transplants. This high financial burden of transplantation deters many patients from opting for this potentially life-saving procedure. Lack of health insurance coverage or inadequate reimbursement policies in various countries further increase the cost burden for patients. High medical costs can act as restraint to the widespread adoption of bone marrow transplant therapy.
Lack of Donor Availability
Another major challenge faced by bone marrow transplant providers as well as patients is the lack of appropriate stem cell donors. Finding a perfectly matched unrelated donor is difficult, considering the wide array of HLA genes. According to donor registries, only 30% of patients in need of an unrelated transplant get a perfectly matched donor. Racial and ethnic diversity further diminishes the chances of finding a matched donor. The shortage of stem cell donors limits the number of transplants performed worldwide. It leaves many patients with no option but to stay on the donor waiting list or risk undergoing a mismatched transplant. Initiatives to expand donor registries and boost stem cell collection programs can help address this issue. .
Increased Stem Cell Collections from Alternative Sources
Rising acceptance of alternative sources of stem cells for transplantation can offer opportunities for stakeholders in the bone marrow transplant market. Umbilical cord blood is being widely used an alternative stem cell source especially for children who need transplants but lack matched donors. Similarly, peripheral blood stem cells have emerged as a major source of stem cells for adult transplant recipients. With advancements in stem cell mobilization and collection techniques, the number of stem cells collected from sources like cord blood and peripheral blood has increased tremendously. This enhances the odds of finding a matched graft. The availability of stem cells from alternate sources is also making transplants possible even in the absence of perfectly matched related or unrelated donors. This growing shift towards utilization of alternative stem cell sources will can drive the bone marrow transplant market growth.
Increasing Popularity of Bone Marrow Transplant Tourism
Rising popularity of medical tourism for low-cost bone marrow transplantation can offer new growth opportunities.. Bone marrow transplant centers in many developing Asian countries, Middle Eastern nations, and some European countries provide transplantation services at significantly lower costs as compared to the U.S. and other developed markets. Factors such as availability of world-class infrastructure, medical expertise, shorter wait periods for matching donors and lower living expenses attract many American and European patients to opt for transplant tourism.
Link: https://www.coherentmarketinsights.com/market-insight/bone-marrow-transplant-market-232
Key Development
- On March 15, 2024, a new Paediatric Bone Marrow Transplant (BMT) unit was launched at the Institute of Child Health (ICH) and Hospital for Children. Funded by the National Health Mission and State government, the unit features five BMT rooms and a dedicated operation theatre for bone marrow harvest. It aims to perform 60 transplants annually.
- On February 14, 2024, researchers from the University of Missouri School of Medicine discovered potential treatments for two types of complications following bone marrow transplants. These transplants are often used to treat leukemia and other blood cancers. However, a common issue called graft vs. host disease (GvHD) occurs when donated cells attack the recipient's cells.
- In December 2023, doctors at Department of Hematology & Stem Cell Transplantation at Army Hospital R&R performed a successful bone marrow transplant (BMT) on 7-year-old Master Sushant Paudel, who had a rare primary immunodeficiency disorder. Despite the absence of a suitable donor, the hematology team orchestrated the transplant, offering hope for others with similar conditions.
- In March 2022, new research from The General Hospital Corporation offered promising insights for bone marrow and stem cell transplantation in patients with blood-related diseases. Scientists have identified a distinctive gene signature expressed by hematopoietic stem cells, which are crucial for generating healthy blood cells post-transplantation.
- In May 2020, Gamida Cell Ltd., a pioneering cell therapy company dedicated to combatting blood cancer and severe blood disorders, announced favorable topline findings from its Phase 3 clinical trial assessing the safety and effectiveness of omidubicel. This investigational advanced cell therapy is being developed as a potentially life-saving treatment for patients requiring bone marrow transplants.
Key Players: Merck Millipore Corporation, Sanofi-Aventis LLC., AllCells LLC., STEMCELL Technologies, ATCC Inc., Hemacare Corporation, Cellular Dynamics International, ReachBio LLC., Conversant Bio ABM Inc., PromoCell GmbH, Cruline Human biospecimen PRO, Lifeline Cell Technology, Mesoblast Ltd., Actinium Pharmaceuticals, Inc, Bluebird Bio, Inc, Gilead Sciences, Inc, Novartis AG
