Stem Cell Banking Market to Cross USD 9.42 Bn; Short-term Decline to Be Witnessed amidst COVID-19 Pandemic
Pune, Maharashtra, India, September 19 2022 (Wiredrelease) Prudour Pvt. Ltd –:Global Stem Cell Banking Market: Introduction
Stem cells are capable of transforming into any kind of tissue or organ in the body. Stem cells are found in bone, bone marrow, fetal tissue, baby teeth, fat and human embryos. They can also be found in hair follicles, muscle and circulating blood. Cord blood is a great source of stem cell. Cord blood stem cells have several advantages. They are less likely to be rejected by the immune system during transfusions, and they can be more effective in transplant. Stem cell banking has seen an increase in demand due to numerous applications, including treatment for various diseases such as cancer. These stem cells are taken from the human body and stored for future usage.
The global stem cell banking market is projected to reach USD 9.42 billion by 2023 from USD 6.29 million in 2018, at a CAGR of 8.5% from 2018 to 2023.
Stem Cell Banking Market Dynamics
This section discusses market drivers, opportunities, limitations, and challenges. The following details are provided:
Drivers: Stem Cell Banking Requirements
The market’s major drivers are the increase in the worldwide burden of major diseases and the increasing use of stem cell banking to cure severely damaged tissues. The market’s growth is expected to be driven by the increased use of hematopoietic and brain stem cell transplantation procedures, as well as the rise in skin transplants and brain cells transplantations.
Surging Awareness
The market will benefit from awareness campaigns by both government and non-government agencies to promote stem cell therapy.
Opportunities: Growing Investments and Advancements
Market growth will be driven by the development and commercialization of new technologies that preserve, process, and store stem cells. Market growth opportunities will also be provided by increasing investments in stem-cell-based research.
Restraints/Challenges Global Stem Cell Banking Market: High-Cost
The high operating costs associated with stem cell transplantation are expected to slow down market growth.
In the 2022-2029 forecast period, stem cell banking will face challenges due to the stringent regulatory frameworks as well as socio-ethical concerns relating to embryonic stem cell.
Recent Developments
Life Cell International (India), has launched an improved and enhanced umbilical cord collection tool in 2017.
2017 saw Vita34 AG acquire Seracell Pharma AG (Germany), in order to consolidate its position within the German stem-cell banking market.
StemCyte India Therapeutics Pvt. Ltd. (India), which is a subsidiary of StemCyte US, received accreditation from The Foundation for the Accreditation of Cellular Therapy. It can provide stem cell banking services for private and public clients.
Cord Blood Registry, (US) signed an agreement with New York Stem Cell Foundation in 2015 to create induced pluripotent (SP) stem cells from umbilical chords.
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Stem Cell Banking Market – Competitive Landscape
CCBC
CBR
ViaCord
Esperite
Vcanbio
Boyalife
LifeCell
Crioestaminal
RMS Regrow
Cordlife Group
PBKM FamiCord
cells4life
Beikebiotech
StemCyte
Cryo-cell
Cellsafe Biotech Group
PacifiCord
Americord
Krio
Familycord
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Stem Cell Banking Market Segmentation
Based on the type, the Stem Cell Banking market is segmented into
Umbilical Cord Blood Stem Cell
Embryonic Stem Cell
Adult Stem Cell
Based on the application, the Stem Cell Banking market is segmented into
Diseases Therapy
Healthcare
Market Breakup by Region:
– North America (United States, Canada)
– Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
– Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
– Latin America (Brazil, Mexico, Others)
– The Middle East and Africa
Market Report Coverage and Deliverables will help you to understand:
1. Company revenue shares | revenue (US$ Mn)
2. Upcoming Regional opportunities
3. Latest trends & Market dynamics
4. Competitive benchmarking
5. Key Financial Charts
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Key Questions Answered in This Report:
Q1. What is the market size of Stem Cell Banking?
Q2. What are the elements of retail Stem Cell Banking?
Q3. What are the key decision drivers for service buyers?
Q4. How can we accelerate our bidding process?
Q5. What is the potential of the Stem Cell Banking Market?
Q6. Who are the prominent players in Stem Cell Banking Market?
Q7. What are the different types of Stem Cell Banking market?
Q8. What are the top strategies that companies adopt in Stem Cell Banking Market?
Q9. What is the future of Stem Cell Banking?
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