Hematopoietic stem cell transplantation is a medical procedure that replaces defective bone marrow with healthy stem cells in patients suffering from blood disorders like blood cancers, genetic blood diseases, and other immune system disorders. Bone marrow and peripheral blood stem cell transplantation involves extracting stem cells from a healthy donor's blood or bone marrow and then infusing those cells into the patient's bloodstream, where the new stem cells travel to the bone marrow and begin producing new white blood cells, red blood cells, and platelets. Hematopoietic stem cell transplantation offers potential cure for various life-threatening diseases, and the global Hematopoietic Stem Cell Transplantation (HSCT) Market is estimated to be valued at US$ 2.88 Bn in 2023 and is expected to exhibit a CAGR of 11% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The surging number of hematologic malignancies and genetic disorders globally has escalated the demand for bone marrow transplant procedures in recent years. According to World Health Organization estimates, over 1 million new cancer cases are diagnosed annually across the world. Most common forms of blood cancers include leukemia, lymphoma, and myeloma. Additionally, genetic blood disorders like sickle cell anemia, thalassemia, are also on the rise. Bone marrow or stem cell transplant is one of the most effective lines of treatment for majority of these life-threatening illnesses. Hence, the growing prevalence of target diseases has significantly accelerated the demand for HSCT procedures over the past few years and this trend is expected to continue in the forecast period as well, driving the growth of global HSCT market.
Segment Analysis
The global hematopoietic stem cell transplantation (HSCT) market is dominated by the allogeneic HSCT sub segment. Nearly 70% of all HSCT procedures utilized stem cells from donors other than the patients, which qualifies as allogeneic transplants. Allogeneic HSCT is the standard treatment protocol for various blood cancers like leukemia. The success rate of treatment is higher for allogeneic transplant compared to autologous due to the added graft-versus-tumor effect.
Key Takeaways
The global hematopoietic stem cell transplantation (HSCT) market is expected to witness high growth over the forecast period of 2023 to 2030. With continued research and advancement in transplantation techniques, the market size for HSCT is projected to reach US$ 2.88 Bn by 2024.
Regional analysis: North America currently dominates the global HSCT market and is expected to maintain its leading position over the forecast period. Higher healthcare expenditure, well-established healthcare infrastructure, and increasing incidence of blood cancers are some of the key factors driving the North American market. However, Asia Pacific is anticipated to be the fastest growing regional market attributed to growing investment in healthcare sector by various governments.
Key players analysis: Key players operating in the hematopoietic stem cell transplantation (HSCT) market are AllCells, Cryo-Save, Gamida Cell Ltd., Pluristem Therapeutics Inc, Stemedica Cell Technologies Inc., and Regen Biopharma Inc. AllCells is a leading supplier of high-quality tissue and stem cells for research while Cryo-Save is a pioneer in private umbilical cord blood and tissue banking. Gamida Cell Ltd. develops cell therapies with a focus on hematopoietic stem cell expansion, while Pluristem focuses on developing off-the-shelf placenta-based cell therapy products. Stemedica provides global access to proprietary adult stem cell lines and technology for medical research and therapeutic use. Regen Biopharma is a biotechnology company focusing on identification and development of novel targeted biologic therapeutics.
No comments:
Post a Comment