Global bone marrow Failure Market is expected to grow with CAGR of 7.5% % over the forecast period 2021 – 2028. Bone marrow is a soft, spongy gelatinous tissue found inside the bones, like the thigh bone hip bone and it fills the medullary cavities, or the centers of bones. Bone marrow has two types, yellow and red bone marrow. It contains stem cells. Bone marrow is found in the medullary cavities i.e., center of the bones. Human body needs healthy bone marrow along with healthy blood cells in order to survive. Bone marrow failure occurs when the bone marrow produced by your body is unable to meet up body's needs and doesn't produce enough red cells, white cells or platelets, or when produced cells are damaged or defective. The bone marrow failure diseases like the myelodysplastic syndrome, leukemia, acute myeloid leukemia is rare as well as fatal for a person. The bone marrow failure are of two types, acquired and inherited bone marrow failure. Inherited bone marrow failure is usually observed in teenagers and children, whereas acquired bone marrow failure is common in adults. Bone marrow failure occurs after exposure to some drugs or infections, radiation therapies, toxic chemicals, or chemotherapy.
The increase in instances of blood disorders globally is one of the major factors driving the global bone marrow Failure market. Rise in awareness, funding by governmental organizations & private institutions, technological advancements in diagnosis and standardized modern-day techniques in treatment accelerate the market growth. The continuous advancements in technology providing special treatments and rise in the demand for specific treatment further accelerates the market. Additionally, advancements in the healthcare sector and increase in population positively affects the global bone marrow failure market.
Some of the restraints in the global bone marrow failure market are the side effects caused by the treatment and the high-end costs of the therapies and treatment. There are limited numbers of surgeries and the procedure is very costly which prevents it from being accessed to the low-income families especially in the developing countries.
The global bone marrow failure market is growing rapidly especially in the developed countries and spreading its foot slowly and steadily in the developing regions as well. U.S. is currently dominating the market in this sector. Countries like China, India, and Japan are some of fast growing countries in the global bone marrow market.
Some of the factors which challenge the global bone marrow market is availability of small number of specialized hospitals and surgical centres around the globe especially in the developing regions and the high cost of the available treatment.
The global bone marrow Failure market is segmented on the basis of type of treatment, disease type, mode of administration, distribution channel, and end user. Based on treatment type, the global bone marrow market is segmented into bone marrow transfusion/stem cell therapy, blood transfusion, and drug therapy. On the basis of mode of administration, the global bone marrow failure market is segmented into injectables, oral, and other modes. On the basis of distribution channel, the aplastic anemia market is segmented into hospital pharmacies, retail pharmacies, and online pharmacies. Based on end user, the global bone marrow market is segmented into, homecare, specialty clinics, and others.
By region, the global bone marrow is segmented into in North America, South America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA). The North America is further classified into U.S., Canada and Mexico. South America is segmented into Peru, Brazil, Argentina, Europe is further segmented into Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Hungary, Lithuania, Austria, Ireland, Norway, Poland. Asia-Pacific is segmented into China, Japan, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Vietnam. MEA is segmented into South Africa, Saudi Arabia, U.A.E, Kuwait, Israel, Egypt, Rest of Middle East and Africa.
Some of the prominent players in the global bone marrow market are Bayer AG, Pfizer Inc., Novartis AG, Ligand Pharmaceuticals Incorporated, Mylan N.V., Novartis AG, Genzyme Corporation, Biogen, Otsuka Pharmaceutical Co. Ltd., Regen BioPharma Inc., and BioLineRx. Among others.
Market Segmentation and Scope of Bone Marrow Failure Market