Stem Cell Banking Market

Market Overview:

The global stem cell banking market reached a value of US$ 6.8 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 10.9 Billion by 2027, exhibiting a CAGR of 8.42% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use sectors. These insights are included in the report as a major market contributor.

Stem cell banking is one of the most promising as well as the fastest growing segment of the next-generation stem cell therapy. It is the process of extracting, freezing and storing stem cells for potential future use. Some of the sources through which stem cells are obtained include embryo, umbilical cord, cord blood, placenta and bone marrow. These cells are used for treating a number of different diseases including diabetes, thalassemia, leukemia, sickle cell anemia and cardiac diseases. Moreover, they are also employed for generating platelets, red blood cells and white blood cells. The potential of stem cells to regenerate has led to their applications in tissue engineering, gene therapy and regenerative medicines.

Global Stem Cell Banking Market Drivers:

• While the average human life expectancy has increased owing to the advancements in medical science, human aging is still associated with several diseases. Thus, the elevating count of geriatric population will drive the demand for stem cell therapy in the coming years.
• Regulatory authorities as well as non-governmental organizations (NGO), across both developed and emerging regions, are taking initiatives for instilling awareness amongst consumers about the therapeutic potentials of stem cells, thereby influencing the stem cell banking market growth.
• Increasing fertility rates has led to a rise in the number of children across the globe. This offers lucrative opportunities for preserving the umbilical cord of infants which contains hematopoietic (blood) stem cells.
• Some of the other factors which are catalyzing the growth of the market include escalating disposable incomes, increasing approval of clinical trials in stem cell research, growing prevalence of chronic diseases and technological advancements.
   

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global stem cell banking market, along with forecasts at the global and regional level from 2022-2027. Our report has categorized the market based on product type, service type, bank type, utilization and application.

Breakup by Product Type:

• Adult Stem Cells 
• Human Embryonic Cells 
• IPS Cells 
   

On the basis of product types, the market has been segmented as adult stem cells, human embryonic cells and IPS cells. Presently, adult stem cells account for the majority of the market share as they help in repairing damaged tissues via cell division. In addition to this, adult stem cells offer advantages like ease of harvesting, high acceptance in the human body and effectiveness in tissue generation.

Breakup by Service Type:

• Sample Preservation and Storage
• Sample Analysis
• Sample Processing
• Sample Collection and Transportation 

Based on service types, the market has been segmented as sample preservation and storage, sample analysis, sample processing, and sample collection and transportation.

Breakup by Bank Type:

• Private 
• Public
   

Based on the bank type, the market has been segregated as private and public stem cell banks. Private stem cell banks currently dominate the market, holding the largest share.

Breakup by Utilization:

• Used 
• Unused
   

Based on the utilization, the market has been segregated as used and unused.

Breakup by Application:

• Personalized Banking Applications
• Research Applications
• Clinical Applications
   

On the basis of application, the market has been segmented as personalized banking applications, research applications and clinical applications.

Regional Insights:

• North America 
• Europe 
• Asia Pacific 
• Middle East and Africa
• Latin America
   

On a geographical front, North America enjoys the leading position in the global stem cell banking market on account of advancements in medical infrastructure and availability of federal funding for stem cell research. Other regions include Europe, Asia Pacific, Middle East and Africa, and Latin America.

Competitive Landscape:

The market is fragmented in nature with the presence various international as well as regional players. Some of the leading players operating in the market are:

• CBR Systems Inc.
• China Cord Blood Corporation
• Cordlife
• Cordvida
• Cryo-Cell International, Inc.
• Cryo-Save AG (A Group of Esperite)
• Cryoviva India
• Lifecell
• Smart Cells International Ltd
• Viacord
   

Report Coverage: