Global Stem Cell Market Projected to Reach $14 Bn by 2028: Ken Research

GURUGRAM, India, July 11, 2023 /PRNewswire/ -- The Global Stem Cell Banking Market is moderately consolidated with competitive rivalry among the competitors. Some of the popular Stem Cell Bank brands like CBR, CryoCell, Life Cell, Cordlife, Vita 34, and Smart Cells compete on the basis of price, subscriptions, VAS, turnover time and inventory management.

1. North America Stem Cell Banking Market Surges: Propelled by Increasing Prevalence of Chronic Diseases, Rising Adoption of Regenerative Medicine, and Growing Clinical Studies on Cellular Therapies.

• The applications of stem cell technologies in the treatment of diseases have ultimately increased the overall adoption rate of these technologies across the region. This has led to increased investments by market players in the development of novel therapies in this area.
• With the increased availability of clinical evidence, public awareness regarding the therapeutic potential of stem cells, the market is on the rise.
• Rising investments and R&D from public and private organizations for the development & expansion of cell-based therapies are expected to drive the market.
• For instance, in January 2022, Cellino Biotech, an autonomous cell therapy manufacturing company, raised USD 80 Mn to expand access to stem cell-based therapies, healthcare spending increased by 3.4% in 2021, per the Health Care Price Index.

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2. The Growth of Stem Cell Banking Market in Asia Pacific: Rising Prevalence of Chronic Diseases Spurs Novel Therapeutic Technologies.

• The stem cell banking market is growing rapidly in the Asia Pacific region due to increasing awareness on therapeutic potential of stem cells for various diseases.
• For instance, the Albanese Government is investing nearly $ 7 Mn in Australia for stem cell research that will enable live stem cells to be 3D printed in order to treat damaged body parts.
• The demand for stem cell banking is driven by rising prevalence for chronic diseases such as cancer, stroke, diabetes, and obesity in Asian countries.
• Stem cell led to development of novel technologies for the treatment of diseases.
• For instance, there were over 14, 00,000 incident cases of cancer in India in the year 2022.

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Market Taxonomy

By Source

• 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)
• Others

By Service Type

• Sample Collection and Transportation
• Sample Preservation and Storage
• Sample Analysis
• Sample Processing

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By Application

• Personalized Banking Application
• Research Applications (Disease Treatment Studies, Life Science Research, Drug Discovery)
• Clinical Application (Hematopoietic Disorders, Autoimmune Disorders, Others)

By Cell Type

• Umbilical Cord Stem Cell
• Adult Stem Cell
• Embryonic Stem Cell

By Region

• North America (USA, Canada, and Mexico)
• Europe (France, Italy, Germany, Spain, UK, and Rest of Europe)
• Asia Pacific (China, India, Japan, South Korea, Australia, and Rest of Asia Pacific)
• LAMEA (Latin America, Middle East, and Africa)

Key Players

• CBR Systems, Inc.
• Cryo-Cell International, Inc.
• ViaCord
• Sartorius AG
• StemCyte, Inc.
• Smart Cells International Limited
• Global Cord Blood Corporation
• Vita 34
• LifeCell International Pvt. Ltd
• Cordlife Group Limited

For More Insights On Market Intelligence, Refer To The Link Below: –

Global Stem Cell Banking Market

Related Report by Ken Research: –

Global Stem Cell Banking Market Outlook to 2028 Driven by Increasing R&D for Therapeutic Purposes and Rising Investment in Stem Cell Therapy and Banking

According to Ken Research estimates, the Market Size of Global Stem Cell Banking has shown increasing trend from 2017 to 2022. However, due to COVID-19 restrictions and national & international guidelines, additional measures were taken to ensure secure stem cells collection from patients as well as donors, which resulted in decline in the overall stem cell banking market. Placental stem cells are expected to dominate the global stem cell banking market by source due to high immune tolerance which make them a promising option for transplantation and other therapeutic applications. The major market players are focusing on R&D activities to introduce new stem cell therapies in the market.

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Thailand Clinical Laboratory Market Outlook to 2026F Driven by widening customer base, Government initiatives and increasing corporate requirements for clinical testing

According to Ken Research estimates, the Thailand Clinical Laboratory Market – which grew at a CAGR of 9.0% in the period of 2016-2021 – is expected to grow at a CAGR of 9.5% in the forecasted period of 2022F-2026F, owing to the increasing healthcare spending by aging population, expanding healthcare spending by the Government, growth in non-communicable disease and chronic diseases and increasing public awareness. The market is led by N Health; having the major share of the Clinical Laboratory Market in Thailand. Other players include Pathlab, Thonburi Clinical Labs, Bangkok Medical Labs, Medical Line Lab, Innotech Laboratories and others. Around 60.0% of medical decisions regarding early disease diagnosis, patient prognosis and treatment selection are based on laboratory diagnostic result.

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SOURCE Ken Research