Global Stem Cell Banking Market Outlook 2023-2028
IMARC Group has recently released a new research study titled "Stem Cell Banking Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028", offers a detailed analysis of the market drivers, segmentation, growth opportunities, trends and competitive landscape to understand the current and future market scenarios.
How big is the stem cell banking market?
The global stem cell banking market size reached US$ 7.4 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 11.7 Billion by 2028, exhibiting a growth rate (CAGR) of 8.1% during 2023-2028.
Stem cells are undifferentiated or partially differentiated cells from which all other cells possessing specialized functions are generated. Under appropriate body and laboratory conditions, these cells can divide to form more cells. Such cells are widely used to replace tissues and cells that have been damaged or lost due to disease. Stem cell banking procures precious stem cells from the body, which are then processed and stored for future use in stem cell treatments. These banks use low temperatures to protect the cells from contamination and degeneration and preserve their biological properties. Currently, stem cells are witnessing huge demand for treating several diseases, including diabetes, sickle cell anemia, thalassemia, leukemia, and cardiac disorders. Moreover, they are largely used in gene therapy, tissue engineering, and regenerative medicines.
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Global Stem Cell Banking Market Trends and Growth Prospects:
The global stem cell banking market is majorly driven by the increasing approval of clinical trials in stem cell research. Additionally, various governmental and non-governmental organizations (NGOs) across the globe are undertaking initiatives to instill awareness among consumers about the therapeutic potentials of stem cells, which is boosting the market growth.
Besides this, the surging research and development (R&D) activities, rapid technological advancements, and rising awareness regarding the benefits of preserving the umbilical cord of infants are creating a positive outlook for the market.
Stem Cell Banking Key Companies:
The top competitors in the market, as highlighted in the report, are:
CBR Systems Inc.
China Cord Blood Corporation
Cordlife (SGX: P8A)
Cordvida
Cryo-Cell International, Inc. (NYSEAMERICAN: CCEL
Cryo-Save AG (A Group of Esperite)
Cryoviva India
Lifecell
Smart Cells International Ltd
Viacord
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Key Market Segmentation:
Breakup by Product Type:
Adult Stem Cells
Human Embryonic Cells
IPS Cells
Breakup by Service Type:
Sample Preservation and Storage
Sample Analysis
Sample Processing
Sample Collection and Transportation
Breakup by Bank Type:
Private
Public
Breakup by Utilization:
Used
Unused
Breakup by Application:
Personalized Banking Applications
Research Applications
Clinical Applications
Breakup by Region:
North America: (United States, Canada)
Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
Latin America: (Brazil, Mexico, Others)
Middle East and Africa
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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