As per the report published by Future Market Insights (FMI), the Hematopoietic Stem Cell Transplantation (HSCT) market in Europe is projected to accelerate at a CAGR of 7.6% from 2023 to 2033.
Leukemia and lymphoproliferative disorders are among the most common types of medical conditions in Europe and reported cases have been steadily rising in recent years. This trend is expected to continue in the coming years and drive demand for hematopoietic stem cell transplantation (HSCT) procedures. Hematopoietic stem cell transplants involve replacing a patient’s unhealthy blood-forming stem cells with healthy stem cells from a donor. HSCT can be used to treat certain types of leukemia, lymphoma, myelodysplastic syndrome, and multiple myeloma.
As HSCT treatments become increasingly popular in Europe due to growing prevalence of leukemia and lymphoproliferative disorders, healthcare providers are investing in technologies related to the procedure. Healthcare providers are also focusing on increasing their capabilities for HSCT by training staff and expanding facilities. These trends look set to create profitable opportunities for market participants.
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To enable Europe to become a global leader in the field of cellular therapy for hematological illnesses, the European Hematology Association (EHA) and the European Society of Blood and Marrow Transplantation (EBMT) have announced a strategic cooperation.
According to research conducted by National Library of Medicine, in the beginning of 2013, a million HSCT procedures were reported worldwide. In 2011, the European Society for Blood and Marrow Transplantation received reports of 35 000 HSCT procedures, of which 40% were allogeneic and 60% were autologous. Reported procedures saw a 50% surge in Europe over the past ten years, with allogeneic HSCT from unrelated donors seeing increasing popularity.
Growing availability of advanced treatment facilities and increased awareness among healthcare professionals and patients are significant factors driving the demand for HSCT in Europe. Prominent European countries have strong public health infrastructures, which makes it easy for patients to access healthcare services and advanced treatments such as HSCT. Governments across Europe are also taking active steps to create awareness about HSCT, which is set to boost hematopoietic stem cell transplantation demand between 2023 and 2033.
Key Takeaways from the Hematopoietic Stem Cell Transplantation Market
- FMI expects a positive 6% CAGR to drive the Europe market for hematopoietic stem cell transplantation from 2023 to 2033.
- Anticipated increase in leukemia cases and lymphoproliferative disorders in Europe is expected to boost market demand in the continent between 2023 and 2033.
- The global hematopoietic stem cell transplantation market is predicted to propel at a robust 8% CAGR between 2023 and 2033.
- The global market is likely to attain at value of US$ 7 billion in 2023.
- In 2033, the global hematopoietic stem cell transplantation market is likely to reach a valuation of US$ 15 billion.
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“As leukemia and lymphoproliferative disease are on the rise in Europe, the demand for hematopoietic stem cell transplantation in the continent is bound to climb in the coming years. Research & development efforts are at the core of market players’ strategies as they compete to offer more effective HSCT procedures.”-Says an FMI Analyst.
Competition Landscape in the Hematopoietic Stem Cell Transplantation Market
To increase their market shares, new start-ups are partnering with established companies in the hematopoietic stem cell transplantation field by introducing innovative and cutting-edge products. Prominent players are also expanding their product lines.
Jasper Therapeutics, Inc, Omeros Corporation, and Jazz Pharmaceuticals are key companies in Europe hematopoietic stem cell transplantation market.
Bone Marrow Transplantation is commonly used in the treatment of a variety of conditions, including leukemia, lymphoma, and other blood cancers, as well as certain non-cancerous disorders such as sickle cell anemia, thalassemia, and severe combined immunodeficiency (SCID). It may also be used in certain autoimmune diseases such as multiple sclerosis and systemic lupus erythematosus.
Recent Developments:
- In January 2023, Briquilima, a monoclonal that specifically targets the CD117 receptor and is used as conditioning treatment before HCT, was given orphan drug designation by the European Medicines Agency (EMA) Committee for Orphan Medicinal Products.
- In April 2019, a report was published by Omeros Corporation, which stated that gastrointestinal HSCT-associated thrombotic microangiopathy (TMA) could be resolved through the administration of narsoplimab medication as part of a compassionate-use regimen.
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Key Segments Profiled in the Hematopoietic Stem Cell Transplantation Market Industry Survey
By Transplant Type:
- Allogeneic
- Autologous
By Indication:
- Acute Myeloid Leukemia
- Acute Lymphoblastic Leukemia
- Hodgkin Lymphoma
- Non-Hodgkin Lymphoma
- Multiple Myeloma
- Other Non-Malignant Disorders
By Application:
- Bone Marrow Transplant
- Peripheral Blood Stem Cells Transplant
- Cord Blood Transplant
About Future Market Insights (FMI)
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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