Bone marrow is the spongy, greasy tissue present in the bone cavities. The bone marrow transplant procedures are being carried out for various medical conditions. Bone marrow transplant also known as hematopoietic stem cell helps in curing the critical medical conditions surfaced due to damaged bone marrow cells. The technique replaces the old damaged tissues with new ones and helps in curing many diseases.
More than 75,000 bone marrow transplants were executed around the globe during the year 2015 which are further anticipated to reach significant valuation by 2021 by expanding at a compound annual growth rate of 4.2% over the forecast period.
Globally, Europe has fairly large market share and it is expected to remain at its top position when compared to other geographies; accounting 60% of global revenue share and anticipated to touch USD 6.05 Billion in the year 2021.
At present, North America is the second biggest market after Europe. Factors like increasing cases of chronic diseases like blood cancer in sync with up-surged aged population would help the bone marrow industry to flourish in the region. Asia pacific bone marrow transplantation market might not be as big as those in Europe and North America but would become an attractive market for medical procedures for medical tourists (due to low cost procedures).
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Based on transplantation type, the global bone marrow transplantation market is segmented basis:
Based on the disease indication, the global bone marrow transplantation market is divided into following:
Based on the end user type, the global bone marrow transplantation market can be segmented into:
On the basis of region the global bone marrow transplantation market is segmented into:
Increasing prevalence of anemia and cancers across the globe is the major growth driver for the global bone marrow transplantation market.
In addition to that, improvement in technology, development in healthcare infrastructure, increased penetration of medical insurances and expanded personal disposable income around the world are expected to drive the global bone marrow transplantation.
High cost involved in the treatment and lack or less number of bone marrow donors are the major challenges for global bone marrow transplantation market.
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