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Bone Marrow Transplant Market Outlook - 2027
Bone marrow transplant is a procedure to replace damaged or destroyed bone marrow with healthy bone marrow stem cells. Bone marrow is the soft, fatty tissue inside the bones. It produces blood cells. Stem cells are immature cells in the bone marrow that give rise to all of our different blood cells. Before the transplant, chemotherapy, radiation, or both may be given. This may be done in two ways such as ablative (myeloablative) treatment and reduced intensity treatment. This allows older people and those with other health problems to have a transplant. A stem cell transplant is usually done after chemotherapy and radiation is complete. The stem cells are delivered into the bloodstream, usually through a tube called a central venous catheter. The process is similar to getting a blood transfusion. The stem cells travel through the blood into the bone marrow. Most times, no surgery is needed.
COVID-19 scenario analysis:
Coronavirus disease 2019 (COVID-19) has created an economic crisis along with a healthcare crisis. COVID-19 pandemic has stretched healthcare system worldwide, wherein developed countries are expected to witness economic recession. The COVID-19 pandemic has an adverse impact on the healthcare system, resulting in 50% to 70% drop in revenue from March 2020. Many small hospitals, clinics, and nursing homes have been forced to shut their operations. Social distancing and localized curfews have resulted in delayed elective surgical procedures. In addition, visa cancellations have led to a hiatus in medical tourism and can negatively impact the healthcare services market growth.
Top impacting factors: Market scenario analysis, trends, drivers, and impact analysis
The major factor affecting the industry includes surge in the prevalence of blood cancer and other blood related diseases. This statistics is anticipated to help the industry propel over the forecast period. Furthermore, steep increase in the development of stem cell cryopreservation, which is the need of the hour, would contribute the bone marrow transplant market to gain traction in the coming years. However, lack of reimbursement policies for mainly organ transplantation procedures in emerging economies and developed countries is expected to hamper the growth of the industry in the next few years.
Increase in R&D activities to boost the market
The increase in the number of product launches would help the industry to flourish over the forecast period. For instance, in May 2020, Gamida Cell Ltd., an advanced cell therapy company committed to finding cures for blood cancers and serious blood diseases, declared positive topline results from its Phase 3 clinical study evaluating the safety and efficacy of omidubicel, an investigational advanced cell therapy in development as a potential life-saving treatment option for patients in need of bone marrow transplant.
The median time to neutrophil engraftment was 12 days for patients randomized to omidubicel compared to 22 days for the comparator group (p<0.001). Neutrophil engraftment is a measure of how quickly the stem cells that a patient receives in a transplant are established and begin to make healthy new cells. Rapid neutrophil engraftment has been associated with fewer infections and shorter hospitalizations.
Surge in number of mergers and acquisitions to propel the market
The increase in the number of mergers & acquisitions is anticipated to help the industry boost in the coming years. For instance, in September 2017, Inotek Pharmaceuticals entered into a definitive merger agreement with Rocket Pharmaceuticals, a U.S.-based gene therapy company. Subject to shareholder approval, the combined company retains the name Rocket Pharmaceuticals and will be headquartered in New York City.
The combined company will focus on developing and advancing its pipeline of gene therapies based on lentiviral virus (LVV) and adeno-associated virus (AAV) gene therapy platforms, with a focus on treating devastating rare diseases.
Furthermore, in November 2019, Lonza Group Ltd. partnered with Cryoport, Inc. in the cell and gene therapy field and across Lonza's 'vein-to-vein' delivery network.
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