Increasing importance of stem cells in regenerative medicine and tissue engineering, growing network of stem cell banks, and rising awareness regarding benefits of stem cell preservation are key factors driving market growth.
Increasing importance of stem cells in regenerative medicine and tissue engineering, growing network of stem cell banks, and rising awareness regarding benefits of stem cell preservation are key factors driving market growth
The global stem cell banking market size is expected to reach USD 14.48 Billion in 2028 and register a CAGR of 8.7% over the forecast period, according to the latest report by Reports and Data. Growing importance of stem cells in regenerative medicine and tissue engineering, increasing awareness about stem cell preservation and storage, and rising investment and funding to accelerate stem cell research are some key factors expected to drive market revenue growth over the forecast period. In addition, extensive research to determine therapeutic potential of stem cells and high number of clinical trials using stem cells to treat over 80 chronic and life-threatening diseases and conditions are expected to drive market growth going ahead.
Stem cells are undifferentiated or partly differentiated cells with ability to develop into several different types of blood and tissues cells. Stem cells have potential to regenerate damage or diseased tissues and improve immunity from within the body. Stem cell therapy is widely used to repair damaged tissues, organs, or treat diseases that affect cell tissues. Stem cell banking offers an excellent opportunity to preserve stem cells by cryogenically freezing them. Stem cells stored this way remain viable for nearly 20 years and can be retrieved for use in the future as and when required. Stem cell banking covers the process of collecting, processing, preserving, and storing potentially lifesaving stem cells and these processes are generally safe, non-invasive, and risk free. Medical applications of stem cells have been increasing exponentially and this has created new pathways for treatment of chronic and critical diseases such as Alzheimer’s, cerebral palsy, and autism, which do not have a cure currently. This is expected to further contribute to revenue growth of the market over the forecast period.
Rapidly increasing geriatric population across the globe and rising prevalence of chronic diseases, increasing incidence of severe genetic disorders, rapid adoption of stem cell therapies, and growing awareness about benefits of stem cell preservation are some other key factors expected to support revenue growth of the market. However, stringent regulations and high costs associated with stem cell processing and preservation are expected to hamper market growth to a certain extent over the forecast period.
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Some Key Highlights From the report:
- Placental stem cell segment is expected to register significant growth in terms of revenue over the forecast period, attributable to placenta being a valuable source of stem cells, increasing application of placental stem cells in therapeutics and regenerative medicine, and a rapid increase in number of cord blood banks.
- Rising awareness about the benefits of stem cell preservation and significance of stem cells in treatment of chronic and rare illnesses are key factors contributing to revenue growth of the sample preservation & storage segment. In addition, appropriately stored stem cells can remain viable for up to 20 years and this is expected to drive growth of this segment over the forecast period.
- Clinical application segment is expected to register considerable revenue growth during the forecast period, attributable to increasing application of stem cells in treatment of autoimmune and hematopoietic diseases, rapid adoption of stem cell therapies, and rising number of hematopoietic stem cell transplants.
- Asia Pacific is expected to register rapid revenue CAGR over the forecast period owing to increasing development of advanced healthcare infrastructure, increasing geriatric population, rising prevalence of chronic diseases, increasing investment in stem cell research, and presence of key companies in the region.
- Major companies operating in the market include Cord Blood Registry (CBR) Systems, Cordlife Group Limited, Cryo-Cell International, ViaCord, Cryo-Save AG, LifeCell International, StemCyte, Global Cord Blood Corporation, Smart Cells International, Vita34 AG, and CryoHoldco.
- In April 2021, LifeCell International announced the expansion of its diagnostics and biologics business division amid a demand surge during the COVID-19 pandemic. Under the Biologics division, the company recently introduced a series of products derived from placental tissue that have been converted into dried sterile tissues to be used as advanced wound care products.
- In April 2021, the SA Bone Marrow Registry (SABRM) formed an alliance with Netcells, which is the longest and largest established private cord blood bank in Africa. Under the partnership, from April 2021, cord blood will be made available to patients requiring bone marrow transplants and this will also help the registry screen for appropriate matches.
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For the purpose of this report, Reports and Data has segmented the global stem cell banking market based on source, service type, application, and region:
Source Outlook (Revenue, USD Billion; 2018-2028)
- Placental Stem Cells (PSCS)
- Adipose Tissue-Derived Stem Cells (ADSCS)
- Bone Marrow-Derived Stem Cells (BMSCS)
- Human Embryo-Derived Stem Cells (HESCS)
- Dental Pulp-Derived Stem Cells (DPSCS)
- Other Stem Cell Source
Service Type Outlook (Revenue, USD Billion; 2018-2028)
- Sample Preservation and Storage
- Sample Analysis
- Sample Processing
- Sample Collection and Transportation
Application Outlook (Revenue, USD Billion; 2018-2028)
- Personalized Banking Application
- Research Application
- Disease Treatment Studies
- Life Science Research
- Drug Discovery
- Clinical Application
- Hematopoietic Disorders
- Autoimmune Disorders
- Other Diseases
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Regional Outlook (Revenue, USD Billion; 2018-2028)
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- U.K.
- Italy
- France
- BENELUX
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- U.A.E.
- South Africa
- Rest of MEA
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