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Hematopoietic stem cell transplantation (HSCT) is a medical procedure that infuses hematopoietic stem cells to a patient with various blood cancers and disorders. Hematopoietic stem cells are sourced from bone marrow, peripheral blood, or umbilical cord blood that has the capability to develop into various blood cell types. HSCT has become a standard treatment for patients suffering from various hematological diseases such as leukemia, lymphoma, multiple myeloma, sickle cell anemia, and several genetic disorders. The global HSCT market demand is driven by a rise in awareness regarding the benefits of HSCT in treating blood cancer and the availability of private and public funding for transplantation procedures.
The global hematopoietic stem cell transplantation (HSCT) Market is estimated to be valued at US$ 2.88 Bn in 2023 and is expected to exhibit a CAGR of 11 % over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Dynamics:
One of the major driver responsible for the growth of HSCT market is the rising prevalence of blood cancer cases across the globe. According to the estimates of the Leukemia & Lymphoma Society, around 186,400 new cases of leukemia, lymphoma, and myeloma are expected to be diagnosed in the US in 2022. The prevalence of blood disorders is also increasing at a rapid pace which is driving the adoption of HSCT. According to the Centers for Disease Control and Prevention (CDC), around 3 million people in the US have sickle cell disease or trait. Increasing healthcare funding for improving access to HSCT procedures will also boost the market growth over the forecast period.
Segment Analysis
The hematopoietic stem cell transplantation (HSCT) market can be segmented into autologous HSCT, allogeneic HSCT, and other types. The allogeneic HSCT segment dominates the market and accounts for over 60% market share due to wide applications in the treatment of blood cancers such as leukemia and lymphoma. It is widely used when a person’s own hematopoietic stem cells cannot treat their condition.
PEST Analysis
Political: Healthcare reforms and availability of reimbursements impact the market growth. Countries are developing regulations for ethical sourcing and transplantation of stem cells.
Economic: Rising healthcare expenditure and availability of advanced technologies are supporting the demand. However, higher treatment costs pose challenges in developing nations.
Social: Increasing public awareness about potential life-saving applications and supportive government initiatives are fueling the adoption. However, lack of matching donors and ethical issues also impact the market.
Technological: Continuous developments in stem cell therapies, preventive medicine, and use of artificial intelligence are expected to boost the market growth over the forecast period. Novel technologies help in efficient stem cell collection, storage, and transplantation processes.
Key Takeaways
The global hematopoietic stem cell transplantation (HSCT) market is expected to witness high growth over the forecast period.
Regional analysis: North America accounts for over 40% of the global HSCT market share and is expected to grow at a high rate during the forecast period. This can be attributed to the increasing incidence of blood cancers, rising healthcare spending, availability of reimbursements, and growing focus on R&D activities.
Key players operating in the hematopoietic stem cell transplantation (HSCT) market are AllCells, Lonza, Thermo Fisher Scientific, Merck, ATTENDO, American Type Culture Collection, and STEMCELL Technologies. ATTENDO has emerged as a leading player owing to its wide product portfolio and global presence across major markets.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
