Allogeneic Stem Cell Transplantation Market Estimated To High...

Allogeneic Stem Cell Transplantation Market Estimated To High Growth

Posted 2023-11-01 13:24:24

The Allogeneic Stem Cell Transplantation Market is estimated to be valued at US$ 3.9 Billion In 2023 and is expected to exhibit a CAGR of 7.9% over the forecast period 2023 - 2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview:
Allogeneic stem cell transplantation involves transplanting stem cells from a donor into a patient. It is primarily used in the treatment of leukemia, lymphoma, multiple myeloma, and other blood-related diseases. In the transplantation procedure, blood stem cells are collected from the bone marrow or peripheral blood of a healthy donor. These cells are then transfusion into a patient after chemotherapy or radiation therapy to replace the damaged or destroyed stem cells in the bone marrow.

Market Dynamics:
Increasing number of stem cell therapy procedures being performed worldwide for the treatment of various life-threatening diseases such as cancer is a major factor driving growth of the allogeneic stem cell transplantation market. According to the World Marrow Donor Association, around 50,000 stem cell transplantation procedures are performed worldwide annually. Moreover, growing applications of stem cell therapy in cancer treatment is also expected to propel market growth over the forecast period. Rising cases of leukemia, lymphoma and other blood-related cancers are increasing the demand for allogeneic stem cell transplants for therapy. However, high treatment costs associated with stem cell transplantation procedures may hamper market growth to a certain extent.