The bone marrow transplant market comprises products and services associated with bone marrow transplant procedures including stem cell harvesters, cryopreservation devices, thawers, culture systems, bone marrow collection kits and others. Bone marrow transplant is a procedure to replace damaged or destroyed bone marrow with healthy bone marrow stem cells. It is used to treat various blood cancers including leukemia, lymphoma and multiple myeloma among others.

The global bone marrow transplant market is estimated to be valued at US$ 7261.28 Mn in 2024 and is expected to exhibit a CAGR of 6.7% over the forecast period 2024 to 2030.

Key Takeaways
Key players operating in the bone marrow transplant market are Shenzhen Mindray Bio-Medical Electronics Co., Ltd., Getinge AB, General Electric Company, Hamilton Medical, Medtronic, ICU Medical, Inc., Dragerwerk AG & Co. KGaA, ZOLL Medical Corporation, Koninklijke Philips N.V., VYAIRE, Fisher & Paykel Healthcare Limited, ResMed, Max Ventilator (A.B.Industries), NIHON KOHDEN CORPORATION, Inspiration Healthcare Group plc., CorVent Medical Inc., Inovytec, InnAccel Technologies Pvt Ltd., and OES Medical.

The increasing prevalence of blood cancers such as acute myeloid leukemia, lymphoma, and multiple myeloma is a key factor responsible for the rising demand for bone marrow transplantation procedures globally. According to the World Health Organization (WHO), around 9.6 million new cases of cancer were reported in 2018, of which leukemia accounted for 3.0% of total cancer incidences. Technological advancements in transplantation procedures and supportive care have increased the success rate of bone marrow transplants. For instance, the introduction of reduced-intensity conditioning regimens allow transplantation in older and sicker patients.

Market Trends
Growing number of stem cell transplantations - According to the Center for International Blood and Marrow Transplant Research, the number of stem cell transplantations has grown from less than 7,000 procedures in 1991 to over 30,000 procedures in 2021 globally. This is expected to increase the demand for bone marrow transplant solutions over the forecast period.

Increasing development of ex-vivo expansion techniques - Researchers are focusing on developing ex-vivo expansion techniques to multiply and enrich stem cells outside the body before transplantation.This helps to reduce post-transplant complications by providing sufficient stem cells through fewer collections.

Market Opportunities
Emerging economies in Asia Pacific and Latin America are expected to provide huge market opportunities owing to increasing healthcare expenditures and improving medical infrastructure in these regions. Growing awareness pertaining to stem cell therapy is also expected to contribute to the market growth.

Rising incidence of hematological malignancies due to changing lifestyle patterns and growing geriatric population base provides opportunities for increased adoption of bone marrow transplantation procedures.

Impact of COVID-19 on Bone Marrow Transplant Market Demand growth
The COVID-19 pandemic has significantly impacted the growth of the bone marrow transplant market. Several elective surgeries and organ transplant procedures were postponed to focus on increasing ICU capacity and caring for COVID-19 patients in the initial stages of the pandemic. This led to a significant decline in the number of bone marrow transplant procedures performed during 2020-2021.There was widespread disruption in supply chains of key consumables and devices required for transplants. Restrictions imposed on travel, movement of medical staff impacted donor availability and recruitment programs were affected. Many potential transplant recipients also developed an increased fear of contracting the coronavirus in the hospital setting and deferred the procedure.

However, post pandemic there is an increased focus on recovering transplant volumes. Hospitals have learned lessons from the initial COVID-19 waves and improved protocols to minimize infection risks for immunocompromised patients. Telehealth solutions are being leveraged more for follow ups. Industry players are focusing on bolstering consumables stock to ensure uninterrupted supply even during emergencies. Many countries are expediting vaccination drives to immunize high-risk transplant patients. If infection rates continue declining globally in 2022, volumes are expected to rebound from pre-pandemic levels driven by deferred demand. New cellular therapy options may also drive procedure growth in the long run.

The United States accounts for the largest share of the global bone marrow transplant market in terms of value. This is attributed to factors such as the presence of major market players, large number of transplant centers, increasing adoption of novel bone marrow transplant procedures and growing healthcare expenditure. Between 2024-2030, the US market is expected to grow at a CAGR of 5.2% and retain its top position.

The Asia Pacific region represents the fastest growing market for bone marrow transplant globally and is projected to expand at a CAGR of 8.2% during the forecast period. This rapid growth can be attributed to developing healthcare infrastructure, rising medical tourism, increasing healthcare expenditure and growing public awareness about life-saving benefits of transplants. China, India are some of the major contributors to the Asia Pacific bone marrow transplant market value.

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