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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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