The hematopoietic stem cell transplantation market studied is expected to grow with an anticipated CAGR of 6.2%, during the forecast period.
The major drivers propelling the growth of hematopoietic stem cell transplantation market are the increasing prevalence of leukemia and lymphoproliferative disorders globally. The increasing technological advancements along with increased investments in the research and development activities by major players are expected to drive the market. According to the GLOBOCAN 2018 report, the global incidence of leukemia was estimated to 437,033 new cases and nearly 309,006 deaths in 2018. According, to the World Health Organization (WHO), more than 2000 Cord blood Hematopoietic Stem Cell Transplants are performed annually. Thus, considering the mentioned facts and key drivers, the studied market is anticipated to propel over the forecast period.
Key Market Trends
By Application, The Bone Marrow Transplant is Expected to Increase over the Forecast Period
A Bone Marrow transplant involves the administration of healthy hematopoietic stem cells in patients with dysfunctional or depleted bone marrow. This procedure is used to treat certain types of cancers, such as leukemia, myeloma, and lymphoma, and other blood and immune system diseases that affect the bone marrow. The Australian Bone Marrow Donor Registry (ABMDR) has over 168,000 volunteer bone marrow donors as of 2019 from over 50 countries and over 35 million people have joined the bone marrow registries worldwide. Also, the increasin R&D activities is expected to boost the segment. For instance, in Oct 2020, Gamida Cell Ltd., announced that the Phase 3 study of omidubicel, an investigational advanced cell therapy in development as a potential life-saving treatment option for patients in need of bone marrow transplant, met all three of its secondary endpoints. Thus, in view of the increasing incidence of target disease and the rising number of donors, the bone marrow transplant is expected to grow significantly over the forecast period.
North America has a dominant share in Hematopoietic Stem cell Transplantation market and is anticipated to grow tremendously over the forecast period also
The increasing prevalence of leukemia, lymphoproliferative disorders and other target diseases, along with the increasing adoption to the personalized medicine is expected to drive the hematopoietic stem cell transplantation market in North America. According to the Leukemia and Lymphoma Society's facts and Statistics, an estimated combined total of 178,520 people in the United States are expected to be diagnosed with leukemia, lymphoma or myeloma in 2020 and new cases of leukemia, lymphoma and myeloma are expected to account for 9.9 percent of the estimated 1,806,590 new cancer cases diagnosed in the United States in 2020. Additionally, the increasing concentration major players such as ThermoGenesis Holding, Inc., is expected to drive to the growth of the hematopoietc stem cell transplantation market in North America.
Competitive Landscape
The Hematopoietic Stem Cell Transplantation market is consolidated and consists of few major players, that dominate the market. However many small and medium sized research laboratories are actively involved in R & D activities related to the studied market, thereby leading to an impactable growth over the forecast period. The major players in Hematopoietic Stem Cell Transplantation market are Merck KGaA, Lonza Group, STEMCELL Technologies, Inc, Pluristem Therapeutics, Inc., ScienCell Research Laboratories, Inc, and many more. The major players are evolving various strategies such as investment in Research and Development, collaborations and acquisitions. For instance, In Jan 2019, Cesca Therapeutics Inc., that is involved in automated cellular processing and autologous cell therapies for regenerative medicineacquired ThermoGenesis Corp. and changed the name from Cesca Therapeutics, Inc. to ThermoGenesis Holdings, Inc. in Nov 2019.
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