Market Overview
Stem Cell Banking is the method for extracting valuable stem cells from the human body, processing them, and storing them for future use in stem cell treatments/therapies, such as bone marrow transplantation. They have the potential to regenerate and protect the body from within due to their ability to develop into multiple types of blood and tissue cell. Stem cell therapies can also be used to repair damaged tissue, repair organs, and treat diseases when a disease or condition affects cell tissue.
According to Ken Research Analysis, the Global Stem Cell Banking Market was valued at ~US$ 4 billion in 2017. Furthermore, owing to the increasing prevalence of infectious diseases and rising individuals’ awareness regarding the therapeutic potentials of stem cells, it is estimated to be ~US$ 7 billion in 2022 and is expected to reach a market size of ~US$ 15 billion by 2028 growing with CAGR of ~12% during 2022 to 2028.
- The rising prevalence of fatal chronic diseases such as cancer, cardiovascular disease, neurological disorders, immunological disorders, and other rare metabolic diseases is propelling the stem cell banking market growth.
- The growing newborn population worldwide is another driving factor of the stem cell banking market.
- High operational costs associated with stem cell banking, along with stringent regulatory frameworks, are impeding the growth of the stem cell banking market.
- The ongoing COVID-19 pandemic increases the morbidity of cord blood transplantation (CBT) recipients globally, but stem cell procedures were slowed in 2020 due to the lockdown imposed by several governments across countries to prevent the virus’s spread, resulting in a decline in stem cell banking growth.
Request For Sample Report: https://www.kenresearch.com/sample-report.php?Frmdetails=NTk2MTMz
Scope of the Report
The Global Stem Cell Banking Market is segmented by source, service type, application, and cell type. In addition, the report also covers market size and forecasts for the four major regions in the stem cell banking Market. The revenue used to size and forecast the market for each segment is US$ billion.
Key Trends by Market Segment
By Source: The Placental Stem Cells (PSCS) segment held the largest market share of the global stem cell banking market in 2021.
- The growth is mainly attributed to the significant rise in the number of placental and cord banks, notably in the USA and Europe.
- According to the World Marrow Donor Association (WMDA), a Netherlands-based organization that promotes multilateral cooperation and best practices for the benefit of blood stem cell donors and transplant patients, nearly 8,04,193 cord blood units are currently available worldwide, providing a potential cure for transplant patients.
By Service Type: The Sample Preservation and Storage segment held the largest market share of the Global Stem Cell Banking Market in 2021.
- Stem cell banks primarily store samples of human stem cells for potential future use in stem cell treatments, such as bone marrow transplantation (BMT), Peripheral blood stem cell transplant, and Cord blood transplant.
- The emergence of a growing number of stem cell banks across countries resulted in more stored stem cell samples, which are used in therapies and regenerative medicine in the long term.
By Application: The Personalized Banking Applications segment held the largest market share of the Global Stem Cell Banking Market in 2021.
- The growth is primarily attributed to service providers’ premium pricing of service plans and the benefits offered by personalized banking.
- The Research Application segment is expected to grow at the fastest CAGR during the forecasted period 2022-2028, owing to rising R&D expenditure in the biopharmaceutical industry and rising government initiatives on drug discovery.
By Cell Type: The Adult Stem Cells segment held the largest market share of the Global Stem Cell Banking Market in 2021, owing to their commonality of origin in the human body (bone marrow, and fat), where they mostly reside.
- The growing global prevalence of cancer and blood-related diseases, such as leukemia, lymphoma, neuroblastoma, and multiple myeloma is driving demand for adult stem cells, which replace damaged cells caused by such diseases to decrease inflammation and fight infection.
- According to the American Cancer Society, a worldwide voluntary health organization dedicated to cancer eradication, nearly 60,650 new cases of leukemia is being discovered in the United States in 2022, with 24,000 deaths from the disease.
By Geography: North America accounted for the largest share of the Global Stem Cell Banking Market in 2021 and will remain dominant during the forecast period (2022-2028), owing to the increasing incidence rates of diseases, such as cancer, neurological disorders, and diabetes.
- For instance, according to the American Cancer Society, cancer continues to be the second leading cause of death in the USA, after cardiovascular disease. In 2022, USA is expected to see 1.9 million new cancer cases and 609,360 cancer deaths, for a total of 1,670 deaths per day.
- The growing government initiatives and investments in stem cell therapies are contributing to the region’s growth in stem cell banking.
- For instance, in March 2020, according to CTV News, a Canadian news platform, the Canadian government invested almost US$ 7 million in the Stem Cell Network’s competitive research funding program.
Competitive Landscape
The Global Stem Cell Banking Market is highly competitive with ~100 players which include globally diversified players, several regional players as well as a significant number of country-niche players with their niche in pharma and diagnostics solutions, and technologies, such as molecular imaging technologies (optical molecular imaging, positron emission tomography, single-photon emission computed tomography, and computed tomography) to research disease mechanisms and evaluation of therapeutic interventions.
Country-Niche players comprise about ~45% of the total competitors, while regional players represent a share of ~35%. Some of the major players in the market include CBR Systems, Inc., Cryo-Cell International, Inc., ViaCord, Sartorius AG, StemCyte, Inc., Smart Cells International Limited, Global Cord Blood Corporation, Vita 34, LifeCell International Pvt. Ltd, Cordlife Group Limited, and others.
Recent Developments Related to Major Players and Organizations
- In September 2021, Generate Life Sciences, a USA based biotechnology company, announced that over 10,000 families had enrolled in the Newborn Possibilities Program (NPP) provided by the company’s newborn stem cell preservation bank, Cord Blood Registry (CBR).
- In July 2021, ViaCord launched newborn digestive health screen tests for genetic markers of Celiac disease and primary lactose intolerance. The screen is to be performed with a small amount of the collected cord blood.
Request For Sample Report: https://www.kenresearch.com/sample-report.php?Frmdetails=NTk2MTMz
Key Topics Covered in the Report
- Snapshot of the Global Stem Cell Banking Market
- Industry Value Chain and Ecosystem Analysis
- Market size and Segmentation of the Global Stem Cell Banking Market
- Historic Growth of the Overall Global Stem Cell Banking Market and Segments
- Competition Scenario of the Market and Key Developments of Competitors
- Porter’s 5 Forces Analysis of the Global Stem Cell Banking Industry
- Overview, Product Offerings, and Strengths & Weaknesses of Key Competitors
- Covid-19 Impact on the Overall Global Stem Cell Banking Market
- Future Market Forecast and Growth Rates of the Total Global Stem Cell Banking Market and by Segments
- Market Size of Source, Service Type, Application, Cell Type Segments with Historical CAGR and Future Forecasts
- Analysis of the Global Stem Cell Banking Market
- Major Production/Supply and Consumption/Demand Hubs within Each Region
- Major Country-wise Historic and Future Market Growth Rates of the Total Market and Segments
- Overview of Notable Emerging Competitor Companies within Each Region
Notable Key Players Mentioned in the Report
- CBR Systems, Inc.
- Cryo-Cell International, Inc.
- ViaCord
- Sartorius AG
- StemCyte, Inc.
- Smart Cells International Limited
- Global Cord Blood Corporation
- Vita 34
- LifeCell International Pvt. Ltd
- Cordlife Group Limited
Notable Emerging Companies Mentioned in the Report
- CyroHoldco
- Generate Life Sciences Inc.
- Hope Biosciences
- Cell Care
- ReeLabs Pvt. Ltd.
- BrainStorm Cell Therapeutics, Inc.
- CellSave a CSG-BIO Company, Inc.
- Bristol-Myers Squibb Company
Key Target Audience – Organizations and Entities Who Can Benefit by Subscribing This Report
- Stem Cell Banking Companies
- Biopharmaceuticals Companies
- Cord Blood Banks
- Machinery and Equipment Suppliers for Stem Cell Banking
- Cryogenic Healthcare Equipment Manufacturers
- Biotechnology – Therapeutics and Diagnostics Companies
- Pharmaceutical Companies
- World Marrow Donor Association
- Cord Blood Association
- The International Stem Cell Banking Initiative (ISCBI) – PubMed
- Healthcare Research Institutes
- Healthcare Technology Research Institutes
- Healthcare Technology Regulatory Authorities
- Government Ministries and Departments of Healthcare
Period Captured in the Report
- Historical Period: 2017-2021
- Forecast Period: 2022E-2028F
For more insights on the market intelligence, refer to the link below: –
Global Stem Cell Banking Market
Follow Us
LinkedIn | Instagram | Facebook | Twitter | YouTube
