Stem cells are undifferentiated biological cells that can distinguish into specialized cells, tissue, or an organ. The process of storing these stem cells for the treatment of life threatening diseases in the future is called stem cell banking. Nearly 500 stem cell banks are functioning globally, and every bank is now striving harder to increase their market share. Stem cell banking has applications in cerebral palsy, thalassemia, leukemia, diabetes, autism, and others. Cerebral palsy holds the major share of nearly quarter of the market share among the various applications. Private stem cell banks are implementing innumerable publicizing strategies to upsurge their product visibility among people.
The market is driven by factors such as easy method of extraction of stem cells from the samples, increasing birth rate, increased awareness of stem cell therapeutics, and increasing potentials of stem cell treatment. Alongside, the collaboration among the cord blood banks, increasing investments and fundings, and automation of procedures for the banking of stem cells are providing opportunities for the growth of the stem cell banking market. However, intense competition, high operating costs, changes in legal regulations, and high entry barriers are the major factors hampering the market growth.
The “Stem Cell Banking Market” is estimated to witness a CAGR of 16.4% during the forecast period 2017–2023. The market is analyzed based on three segments, namely product types, end-users, and regions.
The regions covered in the report are North America, Europe, Asia Pacific, and Rest of the World (RoW). North America is set to be the leading region for the stem cell banking market growth followed by Europe. Asia Pacific and RoW are set to be the emerging regions. India, China, and Japan are set to be the most attractive destinations due to the large untapped market.
Product Types Analysis:
The stem cell banking market by products is segmented into umbilical cord blood & cord tissue, and adult stem cell banking. The umbilical cord blood & tissue occupies the major share in the market and is also expected to grow at a fast CAGR during the forecast period. The dental stem cell banking and menstrual blood stem cell banking are the latest diversifications in the stem cell banking market. The market is also witnessing various mergers, acquisitions, and collaborations among the top players, which is defining the future of the global stem cell banking market.
Esperite, Caladrius Biosciences, Via Cord, CBR Systems, Smart Cells, Life Cell, China Cord Blood, Cryo-Cell, StemCyte, Cordvida, ViaCord, Cryoviva, and other predominate & niche players.
These days, stem cell banks exist in most of the developed and developing nations. Around 450 companies are publicizing cord blood banking services internationally, which signifies intense competition in the market. Globally, China Cord Blood Corporation (CCBC) is expected to be the fastest growing stem cell bank worldwide and in the US, it is Amricord. In 2014, the company Amricord achieved 2,200% growth rate from 2011-2013. Future Health Biobank, American Cryostem, Adicyte, Adisave, Celltex, and Vault Stem currently hold around two-thirds of the Mesenchymal Stem Cells (MSC) storage market. However, at present, these companies are still trivial but are swiftly intensifying. Cryostem witnessed its revenue to nearly double in 2016 from $400,000 to almost $800,000.
The report provides complete details about the usage and adoption rate of stem cell banking in various regions. With that, key stakeholders can know about the major trends, drivers, investments, vertical player’s initiatives, government initiatives toward the stem cell therapy and banking adoption in the upcoming years along with the details of commercial devices available in the market. Moreover, the report provides details about the major challenges that are going to impact on the market growth. Additionally, the report gives complete details about the key business opportunities to key stakeholders to expand their business and capture the revenue in the specific verticals to analyze before investing or expanding the business in this market.
Global Stem Cell Banking Market By Source Types(Umbilcal Cord Blood & Tissue Banking, Adult Stem Cell banking), By Stem Cell Bank Types (Private, Public), By region (North America, Europe, Asia-Pacific and Rest of the world) Market Trends and Drivers, Restraints, and Opportunities 2017-2023