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The global stem cell banking market size is estimated to grow by USD 8.23 billion at a CAGR of 11.65% between 2023 and 2027.
Stem cell banking market Share
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Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
Growing demand for personalized medicines is the key factor driving market growth. Personalized medicines can offer treatments based on the patient characteristics, needs, and preferences. Therefore, research organizations are extensively exploring ways to develop personalized treatments by using mesenchymal stem cells owing to their higher benefits. Their benefits include low risk of immune rejection, no requirement of embryonic stem cells, limited need for anti-rejection drugs, low risk of graft rejection, and fewer chances of developing graft-versus-host disease (GvHD).
Furthermore, mesenchymal stem cells (MSCs) that are present in the vascular region of the bone marrow serve as the cellular support of the hematopoietic stem cells (HSCs). In addition, the MSC also possesses some immunosuppressive properties that are beneficial for Hematopoietic stem cell transplantation (HSCT) and for the treatment of inflammatory and autoimmune diseases. Thus, the use of MSC during HSCT has improved the engraftment rate of hematopoietic stem cells by reducing the GvDH. Hence, such factors will drive the growth of the market during the forecast period.
The rising focus on regenerative medicines is the primary trend shaping market growth. Regenerative medicine is evolving as a buzzword in the medical community. Since the human body is capable of self-healing, regenerative therapies have the potential to treat rare diseases effectively. Regenerative medicine is a method to regrow, repair, or replace damaged or diseased cells, organs, or tissues. It contains stem cell therapy and platelet-rich plasma (PRP) therapy.
In addition, the research around these therapies is increasing every day. They enhance cell-to-cell communication, which is essential for overall cell health. Thus, the rising trend of regenerative therapies will drive the demand for stem cell banking, thereby driving the growth of the global stem cell banking market during the forecast period.
Ethical concerns in stem cell research is a challenge that affects market growth. Scientists and policymakers encounter ethical issues with stem cell development. Several issues include the cloning of embryonic stem cells and the destruction of sources to create cell lines. Issues regarding safety, scientific purity, and consent for the use of human embryonic stem cell lines for research purposes have always been a major concern. Federal laws and state policies in terms of secondary usage of genetic information are highly irregular, especially in countries such as the US, which has the biggest market for gene therapy in terms of revenue.
Furthermore, proper infrastructure and recommendations should be established for the collection and usage of stem cells to alleviate the uncertainty that acts as a hindrance to the donation of stem cells. The lack of stem cell donations will prevent advances in treatments and adversely impact the need to preserve stem cells, consequently impeding the growth of the global stem cell banking market during the forecast period.
The product type segment includes adult stem cells, umbilical cord blood stem cells, and embryonic stem cells. The type segment includes private and public. The geography segment includes key regions such as North America, Europe, Asia, and Rest of the World (ROW).
The market share growth by the adult stem cells segment will be significant during the forecast period. Adult stem cells are found in developed tissues such as the heart, brain, and kidney, where they mature and repair damaged tissues through cell division. They are abundant in infants, children, and adults. The adult stem cell banking segment leads the market owing to the easy availability of these cells within the human body.
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The adult stem cells segment was valued at USD 4.08 billion in 2018. Furthermore, HLA typing is used to match patients and donors before bone marrow or blood transplants. Moreover, it is important during adult stem cell transplantation, as the donor cells can adversely affect the recipient's immune system, leading to autoimmune disorders owing to HLA incompatibility. However, easy extraction procedures and the vast availability of these cells are likely to support the demand for adult stem cell banking and ensure the growth of this segment, which will thereby drive the growth of the global stem cell banking market during the forecast period.
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North America is estimated to contribute 41% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
North America is the largest revenue contributor to the global stem cell banking market due to the state-of-the-art technological support and the growing presence of established market players that provide stem cell storage and processing services and use stem cells for developing treatments for diseases such as cancer.
Moreover, the US and Canada are the highest revenue contributors in the region due to several factors, such as the presence of a well-developed healthcare system, which lets market players providing biotechnology solutions such as stem cell banking easily establish themselves in the market. Furthermore, personalized medicines through stem cell therapy have many benefits that are essential for the future of personal health. Hence, such factors will drive the demand for stem cell banking, thereby driving the regional stem cell banking market during the forecast period.
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Cordlife Group Ltd.: The company offers stem cell banking which allows a parent to preserve their child's stem cells present in the umbilical cord blood and used in treating various life-threatening disorders.
The research report also includes detailed analyses of the competitive landscape of the market and information about 15 market companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
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Stem Cell Banking Market Scope |
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Report Coverage |
Details |
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Page number |
156 |
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Base year |
2023 |
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Historic period |
2018 - 2022 |
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Forecast period |
2024-2028 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 11.65% |
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Market growth 2024-2028 |
USD 8.23 billion |
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Market structure |
Fragmented |
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YoY growth 2023-2024(%) |
9.95 |
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Regional analysis |
North America, Europe, Asia, and Rest of World (ROW) |
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Performing market contribution |
North America at 41% |
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Key countries |
US, Canada, Germany, UK, and China |
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Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
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Key companies profiled |
AMS Biotechnology Europe Ltd., CellSave Arabia FZ LLC, Cordlife Group Ltd., CordVida, Cryo Cell International Inc., Cryo Stemcell, Cryoviva Biotech Pvt. Ltd., FUJIFILM Corp., Global Cord Blood Corp., Kids Clinic India Pvt. Ltd., LifeCell International Pvt. Ltd., MEDIPOST Co. Ltd., New England Cord Blood Bank Inc., PerkinElmer Inc., Plus Therapeutics Inc., ReeLabs Pvt. Ltd., Regenerative Medical Services Pvt. Ltd., Smart Cells International Ltd., StemCyte India Therapeutics Pvt. Ltd., and Vita 34 International AG |
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Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Product Type
7 Market Segmentation by Type
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
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