The competitive landscape in the global market for hematopoietic stem cell transplantation (HSCT) is characterized by the rivalry between the leading market players, such as Regen Biopharma Inc., Cryo-Save AG, Pluristem Therapeutics Inc., and CBR Systems Inc., finds a new research study by Transparency Market Research (TMR).
Albany, NY -- (SBWIRE) -- 11/24/2017 -- As per the reserch report's estimation, the global market for HSCT, which was worth US$13.06 bn in 2016, is anticipated to rise at a CAGR of 12.80% during the period from 2017 to 2025 and reach a value of US$37.61 bn by the end of the forecast period. Allogeneic transplants have emerged as the most valued products in this market and are expected to remain doing so over the next few years, notes the study.
These players are focusing aggressively over innovation and technological advancements in order to penetrate new therapeutic areas. The improvement in the global economic condition is likely to present massive opportunities to these companies in the years to come, states the research report.
Depending on type of disease indication, the report has segmented the global HSCT market into lymphoproliferative disorders, leukemia, and non-malignant disorders. Lymphoproliferative disorders have surfaced as the leading segment of this market and is expected to continue on this position over the forthcoming years. Non-malignant disorders are also expected to gain a considerable market share during the forecast period. The leukemia segment, on the other hand, is projected to lose a little in the years to come due to the advent of new, improved, and cost efficient drugs that may decrease demand for expensive hematopoietic stem cell transplantation.
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Geographically, the report has segmented the global hematopoietic stem cell transplantation market into North America, Latin America, the Middle East and Africa, Europe, and Asia Pacific. North America and Europe, among these, have emerged as the key contributors to this market on the grounds of a large population base, presence of a highly advanced medical and healthcare infrastructure, and the increase in health expenditure. The dominant among the both is Europe, which is expected to retain its position in this market over the next few years. The increasing prevalence of hematological as well as non-hematological disorders are anticipated to boost the Europe HSCT market in the years to come, states the report.
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Increasing Prevalence of Non-communicable Diseases to Boost Growth
"The global HSCT market is gaining significantly from the remarkable rise in the geriatric population and the escalating prevalence of non-communicable diseases across the world," says a TMR analyst. The rising income, increasing life expectancy, accelerating government expenditure on free trade agreement and healthcare, and the augmenting investments to increase research activities for the technological advancements in the field of hematopoietic stem cell transplantation are also expected to boost this market over the forecast period.
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Although the market looks thriving at present, the lack of awareness among consumers may create obstacles in the growth trajectory of this market in the years to come, reports the market study.
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Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company's exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR's experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.