Bone marrow transplantation, also known as hematopoieticular stem cell transplantation, is a type of major surgical procedure. It involves the transplantation of multidimensional, immature, and constantly dividing stem-cells from bone marrow, umbilical cord, or other sources. It can be autologous, polyglobulogenic or even syngenetic. This treatment can be used to treat a wide range of serious diseases, such as multiple sclerosis, sickle cell disease, Parkinson's disease, liver disease, bone marrow cancer, leukemia, bone infection, multiple myeloma, age related macular degeneration and more.
Market Dynamics
High prevalence of cancer is expected to propel growth of the global bone marrow transplant market. For instance, according to Leukemia and Lymphoma Society, 176,200 people in the US are expected to be diagnosed with leukemia, lymphoma or myeloma in 2019. Moreover, increasing adoption of bone marrow transplant is also expected to aid in growth of the market. For instance, in August 2020, CytoDyn Inc., a late-stage biotechnology company, announced its efforts to duplicate Berlin and London patients’ HIV cure by using leronlimab during bone marrow transplant for 5 HIV patients who also have cancer.
Availability of effective therapies for the treatment of acute graft versus host disease is expected to offer lucrative growth opportunities for players in the global bone marrow transplant market. For instance, in September 2020, Avalon GloboCare Corp., a clinical-stage developer of cell-based technologies and therapeutics, launched its new allogeneic mesenchymal stromal cell therapeutic platform a potential therapy for COVID-19 and for bone marrow transplant related complications of acute graft versus host disease.
However, bone marrow transplant may lead to various complications such as acute graft versus host disease, which is expected to hinder growth of the global bone marrow transplant market.
Among regions, the Middle East is expected to witness significant growth in the global bone marrow transplant market, owing to increasing adoption of bone marrow transplant in the region. For instance, in July 2020, Abu Dhabi Stem Cells Centre (ADSCC) and Sheikh Khalifa Medical City announced the first ever successful bone marrow transplant carried out in the UAE.
Competitive Analysis
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 global bone marrow transplant 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.
In-depth Report on Bone Marrow Transplant Market by Coherent Market Insights:
https://www.coherentmarketinsights.com/market-insight/bone-marrow-transplant-market-232
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