bhagyashri shewale Market Overview: In 2020, the global stem cell banking market reached a size of USD 7.43 Billion and is projected to experience a Compound Annual Growth Rate (CAGR) of 8.7% throughout the forecast period. The anticipated growth is attributed to rapid advancements in stem cell preservation technologies, the expanding use of stem cells in therapeutic applications, and increased investments in stem cell research. Factors such as a rise in Hematopoietic Stem Cell Transplantation activities, the growing healthcare burden of chronic diseases, and the development of advanced stem cell banking facilities are expected to contribute significantly to market revenue growth.
Key Companies Profiled: Cord Blood Registry (CBR) Systems, Cordlife Group Limited, Cryo-Cell International, ViaCord, Cryo-Save AG, LifeCell International, StemCyte, Global Cord Blood Corporation, Smart Cells International, Vita34 AG, CryoHoldco.
Regional Outlook: In 2020, North America accounted for 55.2% of the global market revenue and is expected to witness significant growth. Factors include approvals for stem cell lines in treating autoimmune and chronic diseases, technological advancements, and a robust network of stem cell banking services. Asia Pacific is forecasted to achieve rapid revenue growth due to advanced healthcare infrastructure development, a growing geriatric population, and increased healthcare spending. Europe is poised for considerable revenue growth, driven by initiatives supporting cord blood banking and regulations ensuring safety and traceability.
Competitive Landscape: The global stem cell banking market is characterized by fragmentation, with key players operating globally and regionally. Companies such as Cord Blood Registry (CBR) Systems, Cordlife Group Limited, Cryo-Cell International, ViaCord, and others focus on research and development, product advancement, and strategic alliances to meet global demand. Notable developments include LifeCell International’s accreditation from the American Association of Tissue Banks and Bayer’s collaboration with Atara Biotherapeutics for experimental cell therapies.
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Market Dynamics: Drivers:
- Emerging Potential in Regenerative Medicine: Stem cells offer the ability to regenerate and repair tissues, holding significance in regenerative medicine. Increased awareness, rising disposable income, and a growing number of parents preserving umbilical cord stem cells contribute to market growth.
Restraints:
- High Costs of Stem Cell Preservation: The financial burden associated with processing, preservation, and storage, coupled with stringent regulations, poses a challenge. The high operational costs and lengthy regulatory approval processes in developing countries hinder market growth.
Source Outlook: The market is segmented by source, including placental stem cells, adipose tissue-derived stem cells, bone marrow-derived stem cells, human embryo-derived stem cells, dental pulp-derived stem cells, and others. Placental stem cells are expected to witness substantial revenue growth, driven by the increasing number of cord blood banks and growing awareness of their therapeutic potential.
Service Type Outlook: Segmentation by service type includes sample preservation & storage, sample analysis, sample processing, and sample collection & transportation. The sample preservation and storage segment is anticipated to register a significant CAGR, fueled by growing awareness of stem cell preservation’s importance in treating chronic illnesses.
Application Outlook: The market is categorized based on application into personalized banking, research, and clinical applications. Personalized banking is expected to dominate, given the higher costs of service plans and the advantages it offers over public banking in terms of quality analysis, sample testing, processing, and storage. Clinical applications are projected to experience substantial revenue growth due to increasing awareness of stem cells’ therapeutic potential.
Stem cells, capable of differentiating into specialized cell types, hold promise in treating various chronic and rare diseases. Stem cell banking involves the collection, processing, and storage of these cells for potential therapeutic and regenerative medicine applications. Cord blood stem cells, for example, are currently used in treating nearly 85 diseases, including leukemia, bone marrow cancer, type 1 diabetes, Parkinson’s disease, ALS, Alzheimer’s disease, and anemia.
Key Developments:
- In January 2020, LifeCell International received accreditation from the American Association of Tissue Banks (AATB) for its birth tissue products.
- In December 2020, Bayer collaborated with Atara Biotherapeutics, acquiring rights to two experimental cell therapies for solid tumors.
- In April 2021, LifeCell International announced plans to strengthen its diagnostics and Biologics business divisions due to increased demand amid the COVID-19 pandemic.
- In April 2021, the SA Bone Marrow Registry (SABMR) partnered with Netcells to make cord blood available for patients needing bone marrow transplants.
Segments Covered in the Report: The report segments the global stem cell banking market based on source, service type, application, and region.
Report Scope:
- Market Size in 2020: USD 7.43 Billion
- CAGR (2020-2028): 8.7%
- Revenue Forecast in 2028: USD 14.48 Billion
- Base Year for Estimation: 2019
- Historical Data: 2017-2018
- Forecast Period: 2020-2028
- Quantitative Units: Revenue in USD Million
- CAGR from 2020 to 2028
- Report Coverage: Revenue forecast, company ranking, competitive landscape, growth factors, and trends
- Segments Covered: By Source Outlook, Service Type Outlook, Application Outlook, Regional Outlook
Segments:
- By Source Outlook: Placental Stem Cells (PSCS), Adipose Tissue-Derived Stem Cells (ADSCS), Bone Marrow-Derived Stem Cells (BMSCS), Human Embryo-Derived Stem Cells (HESCS), Dental Pulp-Derived Stem Cells (DPSCS), Other Stem Cell Source
- By Service Type Outlook: Sample Preservation and Storage, Sample Analysis, Sample Processing, Sample Collection and Transportation
- By Application Outlook: Personalized Banking Application, Research Application, Clinical Application (Hematopoietic Disorders, Autoimmune Disorders, Other Diseases)
- Regional Scope: North America, Europe, Asia Pacific, Latin America, Middle East & Africa
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