Bone Marrow Transplant Market – Insights
Bone marrow is a soft vascular tissue present in the interior of long bones. It consists of two types of stem cells: hematopoietic and mesenchymal stem cells. Bone marrow is primarily responsible for hematopoiesis (formation of blood cells), production of lymphocytes, and storage of fats.
The global bone marrow transplant market is estimated to account for US$ 13,750.7 Mn in terms of value and 121,661 procedures in terms of volume by the end of 2027.
Global Bone Marrow Transplant Market: Drivers
Increasing prevalence of blood cancer and other blood-related diseases is expected to boost growth of the global bone marrow transplant market over the forecast period. For instance, according to Leukemia and Lymphoma Society, one person in the U.S. is diagnosed with a blood cancer around every 3 minutes and 176,200 people in the country are expected to be diagnosed with leukemia, lymphoma or myeloma in 2019.
Moreover, increasing development in stem cell cryopreservation is also expected to contribute to growth of the market over the forecast period. For instance, in November 2019, in the study ‘Determination of the Membrane Transport Properties of Jurkat Cells with a Microfluidic Device’ researchers from Harbin Institute of Technology, developed a comprehensive process for determination of membrane transport properties of Jurkat cell, an immortalized line of human acute lymphocyte leukemia cells that is widely used in the study of adoptive cell therapy.
Europe region held dominant position in the global bone marrow transplant market in 2018, accounting for 58.5% share in terms of value, followed by North America.
Global Bone Marrow Transplant Market: Restraints
Lack of reimbursement policies for organ transplantation procedure in emerging economies is expected to hinder growth of the global bone marrow transplant market.
Moreover, high cost of bone marrow transplant is also expected to hamper the market growth. The cost of the transplant in Europe and U.S. ranges from US$ 30,000 to US$ 88,000 for a single autologous transplantation to US$ 200,000 or more for a matched unrelated myeloablative allogeneic procedure.
Leukemia treatment type segment in the global bone marrow transplant market was valued at US$ 2,382.6 Mn in 2018 and is expected to reach US$ 3,260.5 Mn by 2027 at a CAGR of 3.5% during the forecast period.
Market Trends/Key Takeaways
Increasing R&D in stem cell therapy is expected to boost growth of the market. For instance, in December 2019, researchers from ?azan Federal University, Russia, reported that application of adipose tissue combined with fibrin matrix during the subacute period in rats offers significantly higher post-traumatic regeneration compared to similar applications of allogeneic mesenchymal stem cells derived from bone marrow or dental pulp embedded in fibrin matrix.
Increasing adoption of half-matched transplant option is also expected to boost growth of the market. In an allogeneic transplant, a patient’s human leukocyte antigen (HLA) tissue type is matched with that of the donor. Patients who do not have a HLA-matched related or unrelated donor can opt for a partially matched or haploidentical related donor.
Global Bone Marrow Transplant Market: Competitive Landscape
Major players operating in the global bone marrow transplant market include, Lonza Group Ltd., Merck Millipore Corporation, Sanofi-Aventis LLC, AllCells LLC, STEMCELL Technologies, and American Type Culture Collection (ATCC) Inc.
Key players in the market are focused on adopting collaboration and partnership strategies to expand their product portfolio. For instance, in November 2019, Lonza Group Ltd. partnered with Cryoport, Inc. in the cell and gene therapy field and across Lonza's 'vein-to-vein' delivery network.
The market is also witnessing entry of new players. For instance, in December 2019, Jasper Therapeutics, Inc. announced the launch of the company with a US$ 35 million total Series A financing. The company is focused on development of its lead product candidate, JSP191 that is designed to replace or reduce the toxicity of chemotherapy and radiation therapy as a conditioning regimen to prepare patients for hematopoietic cell transplant.