Global Stem Cell Banking Market, By Source (Placental Stem Cells, Adipose Tissue-Derived Stem Cells, Bone Marrow-Derived Stem Cells, Human Embryo-Derived Stem Cells, Dental Pulp-Derived Stem Cells, Others), By Service Type (Sample Preservation and Storage, Sample Analysis, Sample Processing, Sample Collection & Transportation), By Application (Personalized Banking Applications, Research Applications, Clinical Applications, Others), By End-User(Hospitals, Pharmaceutical Research, Research Institutes, Others) and opportunities and forecast 2020-2027
Stem Cell Banking Market Overview
Stem cell banking is the process of preserving blood cells from a newborn baby for future use. Stem cells are capable of producing blood cells, namely red blood cells, platelets, and white blood cells, which are produced in the human body. The global Stem Cell Banking market is expected to expand at a significant rate in the forthcoming years. Several factors boost the growth of the Stem Cell Banking market. The rising prevalence of chronic conditions and increasing investments by pharmaceutical and biopharmaceutical companies for stem cell research are projected to propel the growth of the global stem cell banking market during the forecast period.
Additionally, the increasing number of stem cell donors, superior quality of stem cell banking facilities, and rising research & development are anticipated to fuel the growth of the global stem cells market in the coming years. As well, growing awareness of the therapeutic potential of stem cells, development of novel technologies for stem cell preservation, processing, and storage, and increase in hematopoietic stem cell transplantation (HSCT) procedures are contributing significantly to the market’s development in the future.
However, high processing & storage costs, lack of acceptance and awareness in developing regions, and stringent regulatory frameworks are some factors hampering the growth of the Stem Cell Banking market.
Covid-19 Impact on Stem Cell Banking Market:
In addition, the current Stem Cell Banking Market study offers a detailed analysis of the current COVID-19 pandemic impact on the market growth and its influence on the future growth of the Stem Cell Banking Market. The recently published report demonstrates the elevation in the demand for the healthcare sector. The healthcare manufacturers have experienced long term as well as short term effect which includes supply shortages, panic buying, and stocking, regulation changes as short-term whereas approval delays and possible trend variations in consumption could be perceived as long-term impacts of COVID-19 on the health and pharmaceutical market.
The increasing need for a cure has pushed vaccine research and manufacturers to the limit. In addition to this, panic conditions have already spurred the demand for many healthcare products and services which are discussed in detail in this report. Moreover, the impact of COVID-19 on overall market revenue for the base year 2020 and its projection up to 2027 is provided in detail in this report.
Stem Cell Banking Market Segment Overview
Based on the source, the Placental Stem Cells segment is expected to account for the largest share of the market. The large share of this segment can mainly be attributed to the significant rise in the number of placental and cord banks across major markets, particularly the US and Europe, and growing public awareness about the therapeutic potential of stem cell sources.
In terms of application, Personalized Banking Applications is the fasted-growing segment in the market. This is attributed to the premium pricing of service plans charged by service providers and specific advantages offered by personalized banking over community & public banking such as exclusive member rights for stored stem cells as well as efficient quality analysis, sample testing, and sample processing.
· Hospitals · Pharmaceutical Research · Research Institutes · Others
Stem Cell Banking Market Regional Overview
Region-wise, North America dominated the stem cell banking market followed by Europe. This can be mainly attributed to the increasing prevalence of chronic diseases and expanding network of stem cell banking services. Similarly, the market in the Asia Pacific, Latin America, and the Middle East & Africa is expected to enlarge at high growth in the forecast period owing to growth in the health care industry and an increase in the patient population in these regions. In addition to this, the market in the countries such as China, Brazil, and India is expected to rise at a significant rate in the forecast period. This is due to the rising investment by governments to improve health care facilities in these countries.
Stem Cell Banking Market, By Geography
· North America (US & Canada) · Europe (UK, Germany, France, Italy, Spain, Russia & Rest of Europe) · Asia-Pacific (Japan, China, India, Australia, & South Korea, & Rest of Asia-Pacific) · LAMEA (Brazil, Saudi Arabia, UAE & Rest of LAMEA)
Stem Cell Banking Market, Key Players
· Cord Blood Registry (CBR) Systems, Inc. · Cryo-Cell International, Inc. · Cordlife Group Limited · Lifecell International Private Limited · Cryo-Save AG · StemCyte · ViaCord · Global Cord Blood Corporation · Smart Cells International · Vita34 AG · CryoHoldco