StemCyte, Cryo-Cell International, ViaCord, Cord Blood Registry, LifeCell International, and Cordlife Group are some of the major players in the stem cell banking market.
The global stem cell banking market was valued at approximately USD 1.55 billion in 2016. The market is expected to record a CAGR of approximately 16.5% during the forecast period (2017-2022), to reach about USD 3.85 billion. Owing to the slowly-progressing world economic growth, growth prospects of the global stem cell market are expanding gradually.
Recent Developments
With the promise of treating life-threatening diseases, like heart disease and stroke, the frequency of treatable diseases through stem cells is growing at a rapid pace. Globally, stem cell banking is primarily focused on the treatment of nerve cells related to brain damage and spinal cord injuries, regeneration of new blood vessels for treating heart and circulatory diseases, replacement of the damaged cells to treat cardiovascular diseases, etc. One of the recent additions is the regeneration of brain cells to treat brain diseases, like Parkinson’s disease and cerebral palsy. The dental and menstrual blood stem cell banking are latest additions to this market. The limitation is that the cells stored from cord blood and cord tissue have treatment options for limited number of diseases.
Recently, many companies have collaborated with hospital chains, in order to provide a separate facility for the banking of stem cells and clinical treatments. One such company is US Stem Cell Inc., which has established itself as the pioneer in the past 20 years, providing certifications to more than 700 physicians and veterinarians in autologous stem cell therapy. The UK Stem Cell Bank has released its first stem cell line for cell-based medicines, as an innovative therapy in clinical trials. The ethical and legal issues, along with cost constraints (for both companies and customers, limit the growth of this market.
Market Insights
Globally, in bio-banking, the cryogenic storage system market has the largest share, followed by the alarm monitoring system market. By bank type, the cord blood banking industry has significantly matured and consolidated itself in the past few years, with the US cord banking industry leading the market globally. Asia-Pacific countries, such as China, Japan, and Korea have the highest penetration rate. By application (By applications in treatment of several diseases, stem cells are primarily used for research in in cerebral palsy and for treatment in leukemia.), the cerebral palsy segment hold the largest market share. Thus, Asia-Pacific remains the most attractive market for companies, due to rising populations and several government initiatives for the treatment of lethal diseases.
For Full Report: Stem Cell Banking Market
In this report, the market has been segmented by bank type, product, technology, application in various diseases and geography. By bank type, this market includes the cord blood and cord tissue segments. By product, this segment includes adult stem cells, embryonic stem cells, and induced pluripotent stem cells. By technology, this market is segmented by culturing, isolation, in-vitro fertilization, cryopreservation, and expansion. Some major diseases covered in this report are neurological, cardiovascular, hematology, oncology, diabetes, liver disorders, orthopedics, and others. The report provides an in-depth global analysis in different geographical regions viz. North America, Europe, Asia-Pacific, South America, and the Middle East & Africa, including the country-wise segmentation. The prominent companies, which are competing in this market, are CBR Systems, StemCyte, Cryo-Cell International, ViaCord, Celgene Corporation, LifeCell International, Cordlife Group, Smart Cells International, Brainstorm Cell Therapeutics, China Cord Blood Corporation, and others.
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