NEW YORK, March 21, 2016 /PRNewswire/ --
Commercialization of Tissue Engineered Cellular Therapy to drive the demand for Bone Marrow Transplant during the forecast period
Persistence Market Research (PMR) delivers key insights on the global bone marrow transplant market in its latest report titled "Global Market Study on Bone Marrow Transplant: Latin America to Register Highest Growth Rate by 2021, Owing to Increasing Density of Bone Marrow Transplant Centers".
Revenue from the global bone marrow transplant market is anticipated to expand at a CAGR of 4.1% during the forecast period. By procedure type, the market is divided into segments viz. autologous bone marrow transplant and allogeneic bone marrow transplant. Allogeneic bone marrow transplant procedure segment accounted for a highest revenue share of 63.4% in 2014, and revenue from this segment is expected to expand at CAGR of 4.4%, thereby accounting for market share to 65.7%. However, in terms of volume, the autologous bone marrow transplant procedure segment is expected to continue to lead the global bone marrow transplant market as a result of increasing adoption of the procedure owing to low chances of side effects. On the basis of disease indications, the leukemia segment is expected to remain the leading segment and is expected to be valued at US$ 2,679.6 Mn by the end of 2021. By disease indication, lymphoma segment currently ranks second in terms of both value and volume.
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By end user, the market is segmented into hospitals, multispecialty clinics, and ambulatory surgical centers (ASC). Among these, hospital end user segment leads the global bone marrow transplant market, accounting for over 91% volume share of global bone marrow transplant market in 2014. This is partly attributed to requirement for advanced healthcare infrastructure for conducting the procedure. The multispecialty clinics segment is expected to register highest CAGR of 4.8% during the forecast period, with 1.4X increase in procedural count.
Market growth is primarily driven by factors such as global increase in prevalence of blood cancers, expansion of bone marrow transplant registry, growing investment in logistic services, and improvement in survival rate after treatment. Being a procedure with the likelihood of highest success rate for the treatment of leukemia and other blood cancers, adoption of bone marrow transplant procedures is increasing, and is expected to fuel market growth to a significant extent over the forecast period. However, high cost of the treatment, scarcity of bone marrow donors, and uncertainty of reimbursement in several developing countries are factors expected to hamper growth of the global bone marrow transplant market over the forecast period.
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This report covers trends in the global market as well as trends for each segment, and offers analysis of market potential. Globally, the market in Europe is expected to remain dominant among other markets in the global bone marrow transplant market, accounting for over 59% revenue share. This is attributed to high density of bone marrow transplant centers in the region and expanding bone marrow registries. The market in Latin America is anticipated to witness rapid increase growth in terms of volume owing to high number of potential candidates for the procedure.
The report begins with the evolution of the bone marrow transplant procedure, offering an overview of the global bone marrow transplant market in terms of value and volume. Comparative analysis of bone marrow transplant centers and number of procedures being conducted annually in regions such as North America, Europe, Latin America, Asia-Pacific, and Middle East & Africa explains the reasons for gaps in the market.
Browse through the full Bone Marrow Transplant Market Report at http://www.persistencemarketresearch.com/market-research/bone-marrow-transplantation-market.asp
Key market players covered in this report include Lonza Group Ltd., Merck Millipore Corporation, Sanofi-Aventis LLC, AllCells LLC, STEMCELL Technologies, and American Type Culture Collection (ATCC) Inc.
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