Hematopoietic stem cell transplantation (HSCT) market is in trends by increasing applications of stem cell therapeutics
Hematopoietic stem cell transplantation (HSCT) market is in trends by increasing applications of stem cell therapeutics
Blog Article
Market Overview:
Hematopoietic stem cell transplantation (HSCT) is a medical procedure that involves transplantation of hematopoietic stem cells to restore healthy bone marrow and immune system in patients treated with high-dose chemotherapy and/or radiation therapy. HSCT has applications in treatment of diseases like leukemia, lymphoma, multiple myeloma, and other blood-related cancers. It enables formation of new bone marrow which kickstarts production of healthy blood cells over a period of time. HSCT provides an opportunity to cure these types of blood cancers and blood disorders in a non-malignant way.
The global Hematopoietic stem cell transplantation (HSCT) market is estimated to be valued at US$ 3.57 billion in 2024 and is expected to exhibit a CAGR of 11% over the forecast period 2024 to 2031.
Key Takeaways
Key players operating in the HSCT market are Pluristem Therapeutics Inc., CellGenix GmbH, Regen Biopharma Inc., Lonza Group, Kiadis Pharma, Taiga Biotechnologies, Inc., Takeda Pharmaceutical Company Limited, Escape Therapeutics, Inc., Bluebird Bio, Inc., Talaris Therapeutics, Inc., Marker Therapeutics Inc., Stempeutics Research Pvt Ltd., CBR Systems Inc., Priothera Ltd., Eurobio Scientific Group, Otsuka America Pharmaceutical, Inc., copyright Inc., and Sanofi.
The rising prevalence of blood cancers worldwide is driving the demand for Hematopoietic Stem Cell Transplantation Market Size. As per estimates, over 906,000 new cancer cases were diagnosed globally in 2020, out of which around 781,000 cases were of leukemia, lymphoma, and multiple myeloma.
Major players in the HSCT market are focusing on expansion in emerging markets like Asia Pacific and Latin America to tap growth opportunities. Regional and international collaborations are also being established to strengthen healthcare infrastructure required to support HSCT programs.
Market Key Trends:
An emerging trend in the HSCT market is the increasing investments in developing alternative stem cell sources to conventional cord blood transplants. Companies are investing in R&D of techniques like induced pluripotent stem cells (iPSCs) which can generate patient-specific stem cells. This is expected to resolve challenges associated with donor availability and tissue matching.
Porter’s Analysis
Threat of new entrants: Low requirement for large capital investment and technology to enter market makes threat of new entrants high. Bargaining power of buyers: Large number of existing players and availability of substitutes increases buyers bargaining power. Bargaining power of suppliers: Proprietary technology and expertise required for manufacturing makes suppliers bargaining power high. Threat of new substitutes: Emerging new cell therapies makes threat of new substitutes high. Competitive rivalry: Large number of players and differentiation in technology increases competitive rivalry.
Geographical Regions
North America accounts for the largest share of the HSCT market due to the increasing cases of blood cancer, presence of well-established healthcare infrastructure, and growing healthcare expenditure. Asia Pacific region is expected to grow at fastest CAGR during the forecast period owing to increasing awareness, rising healthcare expenditure, and growing incidence of cancer.
Europe holds the second largest share of the HSCT market due to increasing adoption of CAR T-cell therapy and presence of major market players. However, developing countries of Asia Pacific region such as China, India offer lucrative opportunities for market growth due to growing geriatric population, improving healthcare infrastructure, and increasing GDP.
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About Author:
Ravina Pandya, Content Writer, has a strong foothold in the market research industry. She specializes in writing well-researched articles from different industries, including food and beverages, information and technology, healthcare, chemical and materials, etc. (https://www.linkedin.com/in/ravina-pandya-1a3984191)
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