Stem Cell Banking Market

Stem Cell Banking Market Statistics 2030:

The global stem cell banking market size was valued at $4,298.5 million in 2020, and is projected to reach $16,558.4 million by 2030, registering a CAGR of 15.6% from 2021 to 2030. Stem cells are defined as the cells which possess the potential to regenerate different types of cells in the body. They serve as a repair system for the body. There are two types of stem cells, such as embryonic stem cells and adult stem cells. Stem cell banking involves the collection and preservation of various types of stem cells such as cord and adult stem cells for future applications. After collection, these stem cells need to undergo a large number of processing and analysis procedures. The viability and different genetic tests are conducted on the stem cells for promising results in diseases such as leukemia and lymphomas. 

The COVID-19 outbreak is anticipated to have a negative impact on the growth of the stem cell banking market. The spread of COVID-19 led to a major public health issue. Most of the stem cell collection procedures were slowed down to avoid spread of COVID-19 virus. However, clinical trials for application of stem cells for COVID-19 treatment, may contribute to the market growth post pandemic.

The growth of the global stem cell banking market is majorly driven by the increase in R&D activities in regards with applications of stem cells. For instance, in February, 2021, American CryoStem, a biotechnology company, entered into collaboration agreement with BioTherapeutic Labs Corp for the R&D in stem cell. Moreover, surge in number of key players to provide stem cell banking facilities are expected to fuel their adoption in the analysis period. In addition, the initiative taken by organizations and companies to spread awareness in regards with the benefits of stem cells drive the growth of the market.

Moreover, rise in number of fatal chronic diseases drives the growth of market. Stem cells are used in the treatment of variety of chronic diseases such as cancer, cardiovascular diseases, neurological disorders, immunological disorders, and other rare metabolic diseases. For instance, according to world health organization (WHO), in 2019, it was estimated that around 17.9 million people died from cardiovascular disorder, representing 32% of all global deaths. In these deaths, 85% were due to heart attack and stroke. These diseases cannot be treated using conventional therapies as they lead to harmful side effects. The risk of these side effects could be reduced by integrating it with stem cell therapy, which acts as a healing agent to reduce the damage caused by treatment doses. In addition, the large number of births worldwide would increase the number of cord blood and tissue specimens being stored in the stem cell banks for future use. This could in turn fuel the market growth for stem cell banking market globally.

Furthermore, surge in disposable income of peoples and rise in gross domestic product (GDP) of respective underdeveloped and developing countries further boost the growth of market. Moreover, increased birthrate globally and rise in fatal chronic diseases are anticipated to contribute toward the growth of the market. For instance, according to Centers for Disease Control and Prevention (CDC), in 2020, around 3,613,647 newborns were reported. However, high cost associated with stem cell transplantation impedes the growth of this stem cell banking market.

Global Stem Cell Banking Market Segmentation

The stem cell banking market is segmented on the basis of service type, utilization, cell type, bank type, and region. By service type, the market is mainly categorized into collection & transportation, processing, analysis, and storage. On the basis of utilization, it is categorized into used and unused.

By cell type, it is classified into umbilical cord stem cell, cord blood, cord tissue, placenta, adult stem cell, and embryonic stem cell. Based on bank type divided into public and private.  By region, the stem cell banking market is analyzed across North America (U.S., Canada, and Mexico), Europe (Germany, France, the UK, Italy, Spain, and rest of Europe), Asia-Pacific (Japan, China, Australia, India, South Korea, and Rest of Asia-Pacific), and LAMEA (Brazil, South Arabia, South Africa, and LAMEA).

Segment Review

Depending on service type, the storage segment dominated the stem cell banking market in 2020, and this trend is expected to continue during the forecast period, owing to increase in number of stem cell banks. However, the processing segment is expected to witness considerable growth during the forecast period, due to rise in R&D activities in pharmaceutical sector, and advancement in processing technology for stem cell.

Based on utilization, the used segment dominated the stem cell banking market in 2020, and this trend is expected to continue during the forecast period, owing to increase in clinical trials for stem cell applications.

Depending on cell type, the umbilical cord stem cell segment dominated the market in 2020, and this trend is expected to continue during the forecast period, owing to increase in application of stem cell to treat multiple medical conditions. The umbilical cord stem cells are easily collected without any risk for the mother and baby. However, the adult stem cell segment is expected to witness considerable growth during the forecast period, due to raise in number of adult stem cell transplants.

On the basis of bank type, the public segment dominated the stem cell banking market in 2020, and this trend is expected to continue during the forecast period, owing to low cost of stem cells at public banks. However, the private segment is expected to witness considerable growth during the forecast period, owing to rise in number of private stem cell banks, and initiative taken by organizations to develop biotechnology company.

GDepending on the region, North America garnered the major share in the Stem Cell Banking Market in 2020, and is expected to dominate the global market during the forecast period, owing to rise in prevalence of fatal chronic diseases, presence of multiple stem cell banks, and well-established healthcare infrastructure in the region. However, Asia-Pacific is expected to register the highest CAGR of 16.5% from 2021 to 2030, owing to an increase in the number of newborn babies, and rise in healthcare expenditures.

The key players operating in the global stem cell banking market are American CryoStem Corporation, Americord Registry LLC, Cordlife Group Limited, Cordlife Group Limited, Cryoholdco De LatinoAmerica, S.A.P.I. DE C.V., StemCyte Cord Blood Bank, Covis Pharma., Global Cord Blood Corporation., Smart cells.and CSG BIO.

Key Benefits For Stakeholders

• The report provides an in-depth analysis of the global stem cell banking market size along with the current trends and future estimations to elucidate the imminent investment pockets.
• It offers stem cell banking market analysis from 2021 to 2030, which is expected to enable the stakeholders to capitalize on the prevailing opportunities in the market.
• A comprehensive analysis of the region assists to understand the regional market and facilitate strategic business planning and determine prevailing opportunities.
• The profiles and growth strategies of the key players are thoroughly analyzed to understand the competitive outlook of the global stem cell banking market growth.

 Stem Cell Banking Market Report Highlights