Bone Marrow Processing Systems Growth Driven by Progressions in Bone Marrow Needles & Harvest Technology, Says Fact.MR
15 Feb 2021
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Fact.MR, a global research & consulting firm, in their recent edition of the report, indicated that the bone marrow processing systems market is slated to record a robust CAGR in 2021 and beyond. Growing applications of bone marrow donation procedures and bone marrow transplant procedures employed in the treatment of bone marrow cancers, for instance, multiple myeloma, acute leukemia, aplastic anemia, immune deficiency disorders, spinal fusions, non-union fractures, lymphomas, osteonecrosis along with other rare genetic ailments, fuels the demand for bone marrow processing systems. The requirement to selectively concentrate and isolate selective cells, for example, T cells, allogeneic cancer cells, mononuclear cells and others, are driving the industry.
“Market are engaged in collaborations with third party payers and large hospitals as the technology is yet in its budding phase and the bone marrow processing systems installation base is quite small. Furthermore, the technology gains from product development records the highest value proposition.” states Fact.MR.
Benefits Over Manual Bone Marrow Aspiration Methods Amplifies the Demand
The striking benefits of the processing systems as compared with the manual and analytical chemistry isolation techniques, for instance, higher recoveries in a targeted volume, consistency, automation, simultaneous processing, smaller processing times, removal of sedimentation agents or cell separation media, are boosting the widespread adoption of bone marrow processing systems.
Furthermore, low risk of graft-versus-host diseases (GVHD) disavow the higher cost of the processing systems. The progressions in bone marrow needles and bone marrow harvest technology are in addition fuelling the industry’s growth.
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Hospitals to Support Growth of Bone Marrow Processing Systems
Hospitals accounts for the biggest share and will continue remain lucrative over the projected period, as most of the stem cell harvesting for research & transplantation is carried out in hospitals.
Diagnostics labs are projected to foresee the fastest expansion, due to increasing investment in research by biopharmaceutical companies and universities. Growing demand for stem cell-based therapies and regenerative medicine is further projected to contribute toward the expansion of research in diagnostics labs.
How Huge is the Opportunity for Market Players in the US?
The US, holds the biggest industry share as a result of the concentration of major companies, strong R&D spending as well as rapid consumption of cutting-edge technologies.
China, India, and South Korea are projected to expand at a fastest growth pace due to to increasing healthcare spending as well as developments in healthcare infrastructure. India and China are likely to attain a lion’s share of the industry due to increasing healthcare expenditure and healthcare infrastructure.
Germany, France and the U.K. will be the second biggest industry in the forthcoming years. Turkey and Africa will be skewed in favour of gulf economies of Qatar, Kuwait and Saudi Arabia. The expansion of huge medical complexes, for instance, the King Fahd Hospital in Riyadh, Saudi Arabia, together with huge public healthcare share will drive the region’s growth.
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Product Development and Collaborations Remains Key Focus Areas: Fact.MR Survey
The bone marrow processing systems market is exceedingly consolidated with a handful players leading the scenario. Fact.MR’s survey indicated that the leading market players are focusing on collaborations, product development as well as technological advancement. The latest edition of the report offers comprehensive coverage of the anticipated to remain the significant strategies of companies. A few of the players profiled in the report are RegenMed Systems Inc., ThermoGenesis (Cesca Therapeutics inc.), MK Alliance Inc., Harvest Technologies (Terumo BCT), Fresenius Kabi AG, and Arthrex, Inc.The latest edition also provides a detailed analysis of the COVID-19 impact on this market.
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