Stem Cell Banking Market is estimated to be US$ 21.67 billion by 2030 with a CAGR of 7.50% during the forecast period
Stem Cell
Banking Market accounted for US$ 10.54 billion in 2020 and is
estimated to be US$ 21.67 billion by 2030 and is anticipated to register a CAGR
of 7.50%. Stem cells are highly specialized body cells that
serve as the body's foundation cells for organs and tissues. The only way to collect and store these stem
cells, which can be used to cure a variety of ailments, is through the birth of
a child. The stem cells have the ability to self-repair or renew. Stem cells
are also known as immune system and blood building blocks since they aid in the
repair of tissues, organs, and blood vessels. Sickle cell disease, leukemia,
multiple myeloma, lymph proliferative diseases, and SCID have all been treated
with stem cells found in umbilical cord blood.
The report " Global
Stem Cell Banking Market, By Source Type (Cord Blood and Cord Tissue), By
Service Type (Collection and Transportation, Processing, Analysis, and
Storage), By Application (Leukemia, Diabetes, Lymphoma, Cerebral Palsy,
Thalassemia, and Others), and By Region (North America, Europe, Asia Pacific,
Latin America, Middle East, and Africa) - Trends, Analysis and Forecast till
2030’’
Key Highlights:
- In July 2021, CareDx, Inc. (Nasdaq: CDNA), a leading precision medicine company focused on the discovery, development, and commercialization of clinically differentiated, high-value healthcare solutions for transplant patients, announced the enrollment of the first patient in the Assessing Chimerism and Relapse of Bone marrow/ HCT transplant using AlloHeme Testing (ACROBAT) study at the Cleveland Clinic in Ohio.
- In March 2017, LifeCell International – India’s first & the largest stem cell provider, a pioneer in stem cell research– announced the launch of Baby Cord Share, Community Stem Cell banking to address the need for creating a large inventory of stem cells in the country. BabyCord Share brings together the unique benefits of private and public banks, while effectively addressing the challenges of sourcing matching stem cells in India.
Analyst View:
The global
stem cell banking industry is growing due to increased knowledge of stem cells'
medicinal potential. Furthermore, the increasing development of novel
technologies for stem cell preservation, processing, and storage is a driving
force behind the target market's expansion. Major drivers projected to boost growth of the global stem
cell banking market over the forecast period include increased hematopoietic
stem cell transplantation procedures and increasing investments in stem
cell-based research. However, the high cost of stem cell banking is a major
issue limiting the worldwide stem cell banking market's growth.
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Key Market
Insights from the report:
Global Stem
Cell Banking Market accounted for US$ 10.54 billion in 2020 and is estimated to
be US$ 21.67 billion by 2030 and is anticipated to register a CAGR of 7.50%.
The Global Stem Cell Banking Market is segmented based on the Source type,
Service type, Application and Region.
- By Source type, the Global Stem Cell Banking Market is segmented into Cord Blood and Cord Tissue.
- By Service type, the market is segmented into Collection and Transportation, Processing, Analysis, and Storage.
- By Application, the market is segmented into Leukemia, Diabetes, Lymphoma, Cerebral Palsy, Thalassemia, and Others.
- By Region, the Global Stem Cell Banking Market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
Competitive
Landscape:
The key
players operating in the global Stem Cell Banking market include Cryo-cell
International, Inc., Stem Cyte, Inc., ViaCord, Inc., Cord Blood Registry, Inc.,
SmartCells, Inc., LifeCell International Pvt.Ltd, Cryoviva Biotech Pvt. Ltd.,
Cryo Stemcel Private Limited, Reliance Life Sciences Private Limited, and
Trascell Biolife Pvt. Ltd.
The market
provides detailed information regarding the industrial base, productivity,
strengths, manufacturers, and recent trends which will help companies enlarge
the businesses and promote financial growth. Furthermore, the report exhibits
dynamic factors including segments, sub-segments, regional marketplaces,
competition, dominant key players, and market forecasts. In addition, the
market includes recent collaborations, mergers, acquisitions, and partnerships
along with regulatory frameworks across different regions impacting the market
trajectory. Recent technological advances and innovations influencing the
global market are included in the report.
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