Driven By the increasing prevalence of infectious diseases and rising individuals’ awareness regarding the therapeutic potentials of stem cells, the Global Stem Cell Banking Market is forecasted to Cross US$ 15 Bn by 2028 says Ken Research Study.
Stem Cell Banking is the collection and cryogenic storage of stem cells from a newborn infant’s umbilical cord blood and tissue which can be further used in cell treatments or clinical trials. It has the potential to treat a wide range of diseases, as well as the ability to mortgage stem cells from multiple family members and use an individual’s own stem cells (autologous transplant). Furthermore, individuals with spinal cord injuries, type 1 diabetes, Parkinson’s disease, amyotrophic lateral sclerosis, Alzheimer’s disease, heart disease, stroke, burns, cancer, and osteoarthritis may also benefit from stem cell therapies.
“Ken Research shares 3 key insights on this high opportunity market from its latest research study”
1. Stem Cell Banking Market Continues to Grow Owing to The Growing Newborn Population Worldwide.
The Global Stem Cell Banking Market is expected to witness stable growth during the forecast period, owing to the increasing newborn population, and rising individuals’ awareness regarding the therapeutic potentials of stem cells. The global stem cell banking market was valued at ~US$ 4 billion in 2017, 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 a CAGR of ~12%.
North America is the dominating region in the Global Stem Cell Banking Market due to the increasing incidence rates of diseases, such as cancer, neurological disorders, and diabetes. Furthermore, the growing government initiatives and investments in stem cell therapies are contributing to the region’s growth in stem cell banking.
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2. The Rising Prevalence of fatal Chronic Diseases, Such as Cancer, Cardiovascular Diseases, Neurological Disorders, Immunological Disorders, and Other Rare Metabolic Diseases is Propelling the Market Growth of Stem Cell Banking.
The growing geriatric population worldwide, who are more exposed to chronic and infectious diseases, including immunological disorders is propelling the stem cell banking market. In addition, the increasing prevalence of cancer, cardiovascular diseases, and autoimmune diseases, such as type 1 diabetes, and nephrological diseases is widening the use of stem cells as a potential treatment option.
- For instance, according to Scientific American, an American science magazine that covers science, health, and social justice issues, several autoimmune diseases affected nearly 4.5% of the world’s population in 2021.
- According to the World Health Organization (WHO), a United Nations agency responsible for global public health, nearly 18 million people die every year as a result of cardiovascular diseases.
3. High Operational Cost Associated with Stem Cell Banking, along with the stringent regulatory Frameworks May Impede the Market Growth of Stem Cell Banking.
Stem cell therapies have grown in popularity in recent years as individuals seek out alternative treatments for a variety of chronic diseases. Every day, new types of therapies are introduced, and individuals from all over the world are turning to them in place of traditional drug treatments and hospital visits. Despite the significant increase in demand for stem cell therapies, they remain prohibitively expensive to pursue. Simple joint injections cost close to US$ 5000, and more advanced treatments cost up to US$ 100,000, depending on the condition.
Furthermore, the stem cell field remains highly specialized and has yet to be adopted by citizens or insurance companies. Additionally, the field is further limited by older laws in some countries, most notably the United States. That means that there are relatively few sources for stem cells, and labs equipped to perform stem cells.
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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
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