The global bone marrow aspirate concentrates market was valued around
US$ 130.0 Mn in 2016 is anticipated to register a stable CAGR of over
5.0% during forecast period of 2017 to 2025, according to a new
report published by Transparency Market Research (TMR) titled “Bone
Marrow Aspirate Concentrates Market – Global Industry Analysis,
Size, Share, Growth, Trends, and Forecast, 2017–2025”. Growth of
the global bone marrow aspirate concentrates market is driven by
increased prevalence of and incidences of orthopedic diseases, and
sports injuries, along with high growth of the cosmetic surgery
industry and increasing applications of the BMAC products in the
cosmetic and orthopedic surgeries. The bone marrow aspirate
concentrates market in Asia Pacific is expanding with a high
potential to grow registering a CAGR above 6.0% on the backdrop of
unmet clinical needs, rising geriatric population, large patient
pool, favorable government regulations, development in health care
sector, and increased focus on research and developmental
activities.
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According to a collaborative survey conducted by the United Nations
and the World Health Organization, 1.2 billion people in China are
suffering from OA, of which more than 55% are aged 60 years or above.
On the backdrop of such a huge patient base, there has been several
developments in the field orthopedic surgery. Bone marrow-derived
stem cell treatment is considered a promising and advanced therapy.
It reduces the injury healing time in orthopedic diseases to five to
six weeks from four to six months in case of surgery. Reduction in
the healing time is a factor likely to propel the Bone Marrow
Aspirate Concentrates market during the forecast period. However,
pain associated with the treatment, lack of product approval, and
preference for alternative treatments are negatively affecting the
market growth. Moreover, high investments in R&D and clinical
trials, slow approval processes entailing sunken costs, and marginal
returns on investment (RoI) for stakeholders are primary concerns
faced by manufacturer further hampering growth of the market.
The product type segment is fragmented into bone marrow aspirate
concentrates systems and bone marrow aspirate concentrates
accessories. The bone marrow aspirate concentrates accessories
segment is anticipated to carry major share of the market on the
backdrop of rise in number of BMAC assisted procedures. Cell
therapies have been used extensively over the past decade for a
variety of medical applications to restore cellular function and
enhance quality of life. Owing to the differentiation property, stem
cells are being used for repair and regeneration of bone. Moreover,
increase in awareness about hygiene and risk of cross-contamination
in developing countries such as Brazil, China and India are expected
to increase the use of single-use Jamshidi needles for bone marrow
stem cell procedures. This is likely to fuel the growth of the
accessories segment in the near future.
The application segment of global bone marrow aspirate concentrates
market is divided into orthopedic surgery, wound healing, chronic
pain, peripheral vascular disease, dermatology, and others
applications. Of which, orthopedic surgery segment is anticipated to
dominate the market owing to rising geriatric population, and surge
in incidences of osteoarthritis around the globe. The dermatology
segment is anticipated to expand at the highest CAGR of over 6.0%
during forecast period of 2017 to 2025 owing to current boom in the
industry, increase in disposable income, and technological
advancements in the market. The utilization of the regenerative
ability of fibroblasts and keratinocytes from human skin has formed
new ways to develop cell-based therapies for patients. Moreover,
capacity of bone marrow derived extra-cutaneous cells is being
researched for its plasticity in regenerating skin; it is likely to
lead to the future growth of cell therapies in dermatology.
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In terms of end-users, market is divided into hospitals &
clinics, pharmaceutical & biotechnology companies, Contract
Research Organizations (CROs) & Contract Manufacturing
Organizations (CMOs), and academic & research institutes. The
hospitals & clinics segment dominated the bone marrow aspirate
concentrates market in 2016. The trend is expected to continue during
the forecast period. The hospitals & clinics segment is likely to
be followed by the biotechnology & biopharmaceutical companies
segment in terms of market share during the forecast period. The
segment is anticipated to hold more than 8.0% of market share in
2016. Growth of the segment is attributed to increasing number of
biotechnology companies and rising partnerships among the market
players to expand global presence.
Geographically, global bone marrow aspirate concentrates market is
divided into major five geographical regions, including North
America, Europe, Asia-Pacific, Latin America and Middle East and
Africa. North America is anticipated to hold major share of the
market owing to technological advancements and regulatory approval
for new devices, awareness about stem cell therapy, and rise in
number of cosmetic surgical procedures. While, Asia Pacific
orthopedic market is at a pivotal point today, which was valued
around US$ 19 Million in 2016 and anticipated to derive massive and
augmented growth. The orthopedic market in Asia, including bone
graft, spine, and bone substitute, is anticipated to grow more than
twice as fast as the overall orthopedic market which will further
boost growth of BMAC market in the region.
Key players covered in this report are Terumo Corporation (Terumo
BCT), Ranfac Corp., Arthrex, Inc., Globus Medical, Inc., Cesca
Therapeutics Inc., MK Alliance Inc. (TotipotentSC), and Zimmer Biomet
Holdings, Inc. Companies operating in the global market for bone
marrow aspirate concentrates are focusing on in-licensing and
collaboration agreements to put new products in the developing
markets like Asia Pacific, and Latin America. For instance, in August
2017, Cesca Therapeutics Inc. announced a distribution agreement with
Boyalife WSN Ltd., a China based company. Through this agreement,
Boyalife WSN Ltd. will distribute Cesca’s innovative biobanking and
point-of-care solutions in China, India, Singapore, and the
Philippines. As India and China represent two of the fastest growing
economies in the world, successful penetration of these regions can
generate more market opportunity to the companies.
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