Stem Cell Banking Market To Reach USD 14.48 Billion By 2028 | Emerging Potential Of Stem Cells In Regenerative Medicine
Rising awareness about therapeutic potential of stem cells, rapid advancements in stem cell preservation and storage technologies, and increasing burden of chronic diseases are key factors driving market growth
The global stem cell banking market size is expected to reach USD 14.48 Billion by 2028 at a CAGR of 8.7%, according to the latest report by Reports and Data. Rising number of hematopoietic stem cell transplantations, increasing application of stem cells in development of efficient therapeutics, and growing health burden of chronic and life-threatening illnesses are key factors expected to drive market revenue growth over the forecast period. Technological developments in stem cell preservation and collection techniques and increasing investment to accelerate stem cell research are also expected to drive market growth going ahead.
Stem cells are undifferentiated or partially differentiated cells that can differentiate into various types of cells in the body. Stem cells have the potential to differentiate into specific cells that can develop into tissues for use in transplant and regenerative medicine. Stem cell studies have helped researchers and doctors understand the etiology of diseases and chronic illnesses.
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Stem cell banking involves processes related to collection, preservation, and storage of stem cells that can be used in therapies and regenerative medicine in the future. Stem cell banking offers a cost-effective and efficient way to cryopreserve stem cells so that they can be ready to use in the future or as and when required. Stem cells remain viable for nearly 20 years when cryogenically frozen. Stem cells treat nearly 80 chronic and debilitating illnesses including thalassemia, sickle cell anemia, leukemia, and lymphomas, Alzheimer’s disease, Amyotrophic Lateral Sclerosis (ALS), and anemias, among others. Increasing advancements in stem cell-based research has opened up new opportunities for treatment of prevalent life-threatening and debilitating diseases for which there was no cure. This is expected to contribute significantly to revenue growth of the market over the forecast period.
Increasing number of clinical trials to assess potential of stem cells in various medical applications has been boosting demand for viable stem cells and this is expected to further drive market growth going ahead. In addition, rising awareness about the benefits of stem cells in therapeutics and stem cell banking over the recent past is a key factor expected to contribute to revenue growth of the market during the forecast period. However, high costs and stringent regulations associated with stem cell preservation and storage are factors expected to hamper market growth to a certain extent over the forecast period.
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Some Key Highlights From the Report:
- Placental stem cell segment is expected to register significant revenue growth over the forecast period owing to growing number of cord blood banks, increasing number of parents preserving placental stem cells, and growing awareness about therapeutic potential of stem cells.
- Sample preservation and storage segment revenue is expected to expand considerably over the forecast period owing to increasing importance of stem cell preservation, growing number of stem cell donors, increasing stem cell samples, and significance of stem cells in treatment of chronic diseases.
- Personalized banking applications segment is expected to account for largest revenue share in the global market during the forecast period. Growth can be attributed to premium service plans and increasing benefits of private banking over public banking such as efficient quality analysis and sample testing, processing, and storage.
- North America is expected to account for largest revenue share in the global market over the forecast period, attributable to increasing advancements in stem cell collection, preservation, and storage techniques, rising approvals to stem cell lines in treatment of chronic diseases, and growing network of stem cell banking services across the region.
- Prominent companies in the market include 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, and CryoHoldco.
- In January 2021, LifeCell International, which is a pioneer and market leader in stem cell banking, received accreditation from the American Association of Tissue Banks (AATB) for its birth tissue products. Besides being the first and only company in India to receive this accreditation, LifeCell became the only company outside of the U.S. to receive it.
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For the purpose of this report, Reports and Data has segmented the global stem cell banking market based on source, service type, application, and region:
Source Outlook (Revenue, USD Billion; 2018-2028)
- 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
Service Type Outlook (Revenue, USD Billion; 2018-2028)
- Sample Preservation and Storage
- Sample Analysis
- Sample Processing
- Sample Collection and Transportation
Application Outlook (Revenue, USD Billion; 2018-2028)
- Personalized Banking Application
- Research Application
- Disease Treatment Studies
- Life Science Research
- Drug Discovery
- Clinical Application
- Hematopoietic Disorders
- Autoimmune Disorders
- Other Diseases
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Regional Outlook (Revenue, USD Billion; 2018-2028)
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of APAC
- Latin America
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of MEA
Some points on how the report benefits stakeholders:
- The reports include historical (2018–2020) and forecast (2021–2028) data points, revenues, and CAGR in table, figure, and chart formats, with detailed and qualitative, supporting written information for each.
- Revenue break-up is provided for each segment in these formats for global, regional, and for each country in the respective region for each year between 2018 and 2028.
- The report contains insights regarding growth drivers, restraints, opportunities, trends, company profiles, strategic developments, expansion details, product launches, and various other aspects related to the market.
- The report contains data and information on customers, competitors, vendors/distributors, and other players and in the global marketplace.
- Market research analysis is vital for all crucial business strategies and can aid in numerous ways and to provide a clearer understanding about strategies being deployed by competitors, product launches, competitive analysis, technological advancements and various other factors that enhance sales of a firm or perhaps provide insights to focus on merger and acquisition as a strategy or enter into strategic agreements or joint ventures etc.
- The report contains company profiles of the top companies operating in the market along with their respective revenue and operating segments, geographical reach, market footprint, headquarters, growth rates, recent developments, product /services, expansion strategies, investments in expansion, and more.
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