Published By : 17 May 2016 | Published By : QYRESEARCH
The global bone marrow transplant market is poised for strong growth owing to a number of factors, such as the rising prevalence of conditions such as thalassemia and bone cancer.
Importance of Bone Marrow in the Human Body
Bone marrow is one of the most crucial types of human tissue in the body and this tissue, found within the bones, is responsible for generating new blood cells as well as lymphocytes. Bone marrow is thus absolutely necessary in retaining and maintaining healthy the functioning of the human body. Disorders of the bone marrow can result in the adverse impact on crucial immune and circulatory system functions and lead to severe problems. Other serious conditions that can impact bone marrow and its normal function include thalassemia and leukemia. In the most extreme cases of these conditions, it becomes necessary to replace the existing bone marrow of a patient with that from a healthy donor. This makes sure that important body systems are running smoothly and functions can continue without any hindrances.
Europe Largest Market for Bone Marrow Transplant
Of all the regional segments in the global bone marrow transplant market namely North America, Europe, Asia Pacific, and Rest of the World, Europe is the dominating segment in the global market and is primarily fueled by the availability of health care programs funded by the state in almost every country in the region. Europe is anticipated to retain its lead through 2024, with North America following closely in the coming years.
Rising Availability of Donated Bone Marrow Driving Global Growth
The global market for bone marrow transplant is propelled by the rising prevalence of chronic conditions such as bone cancer, blood cancer, and thalassemia. The market is also driven by the growing ease of acquiring bone marrow from donors across the globe. While finding the perfect match for a bone marrow transplant is still difficult, the advancement in storage and transport logistics has made it easier to deliver available bone marrow to patients.