The global stem cell banking market exhibited strong growth during 2015-2020. 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. Looking forward, IMARC Group expects the global stem cell banking market to reach a value of US$ 21.5 Billion by 2026.
Global Stem Cell Banking Market Drivers:
Product Type Insights:
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.
Service Type Insights:
Based on service types, the market has been segmented as sample preservation and storage; sample analysis; sample processing; and sample collection and transportation.
Bank Type Insights:
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.
Based on the utilization, the market has been segregated as used and unused.
On the basis of application, the market has been segmented as personalized banking applications, research applications and clinical applications.
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.
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:
Key Questions Answered in This Report:
The global stem cell banking market size was valued at US$ 10.4 Billion in 2020.
The increasing consumer awareness towards numerous therapeutic benefits of stem cells represents one of the key drivers for the global stem cell banking market.
Several technological innovations in stem cell research activities represent one of the key trends in the global stem cell banking market.
Sudden outbreak of the COVID-19 pandemic had catalyzed the global market for stem cell banking as several healthcare providers are utilizing stem cells for managing severe symptoms.
On the basis of the product type, the market has been bifurcated into adult stem cells, human embryonic cells, and induced pluripotent stem (IPS) cells. Currently, adult stem cells account for the majority of the market share.
On the basis of the service type, the market has been segmented into sample preservation and storage, sample analysis, sample processing, and sample collection and transportation. Among these, sample preservation and storage represents the largest segment.
On the basis of the bank type, the market has been divided into private stem cell banks and public stem cell banks. Among these, private stem cell banks hold the majority of the total market share.
On the basis of the application, the market has been bifurcated into personalized banking applications, research applications and clinical applications. At present, personalized banking applications exhibit a clear dominance in the market.
Region-wise, the market has been classified into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America, where North America dominates the global market.
The key companies in the global stem cell banking 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., and Viacord.
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