The global stem cell banking market is projected to reach USD 9.30 Billion by 2023 from USD 6.28 Billion in 2018, at a CAGR of 8.2%
Factors such as public awareness related to the therapeutic potential of stem cells; development of novel technologies for stem cell preservation, processing, and storage; rising number of hematopoietic stem cell transplantations (HSCTs); and increasing number of stem cell-based research are driving the growth of the market.
This report broadly categorizes the global stem cell banking market into source, application, service type, and region/country. Based on source, the stem cell banking market is segmented into placental, bone marrow-derived, adipose tissue-derived, human embryo-derived, dental pulp, and other stem cell sources. In 2018, placental stem cells segment is expected to account for the largest share of the market. This can be attributed to the global rise in the number of placental and cord banks (especially in the US and Europe) coupled with growing public awareness about the therapeutic potential of stem cells.
Based on application, the global stem cell banking market is segmented into personalized banking, clinical, and research applications. In 2018, personalized banking applications segment is expected to dominate the global stem cell banking applications market due to the premium pricing of service plans charged by service providers and specific advantages offered by personalized banking over community & public banking, growing adoption of precision medicine across developed countries, rising prevalence of blood and immune system-related disorders, and increasing public concerns regarding the clinical abuse of stored stem cell samples.
Based on service type, the global stem cell banking market is segmented into sample collection & transportation, sample processing, sample analysis, and sample preservation & storage. In 2018, sample preservation & storage segment is expected to be the largest service segment owing to the growing adoption of stem cell banking services in major countries coupled with the rising number of stem cell banks across emerging countries, rising public awareness about the therapeutic applications of stem cells, increasing number of hematopoietic stem cell transplantations, increasing stem cell-based research, and high market penetration of stem cell banking services in major healthcare markets.
In 2018, North America is expected to command the largest share of stem cell banking market that is mainly attributed to the expanding network of stem cell banking services, ongoing approval of stem cell lines for various disease treatment, recent technological advancements in the field of stem cell collection and preservation techniques, rising public-private investments for stem cell researches, growing number of stem cell transplantation procedures, and increasing public preference for private stem cell banking over public stem cell banks.
However, factors such as high operational costs associated with stem cell banking and stringent regulatory frameworks are expected to limit the growth of the stem cell banking market during the forecast period.
As of 2017, major players in the global stem cell banking market are Cord Blood Registry (CBR) Systems (US), Cordlife Group Limited (Singapore), and Cryo-Cell International (US).
Key Topics Covered:
2 Research Methodology
3 Executive Summary
4 Premium Insights 4.1 Stem Cell Banking: Market Overview (2018) 4.2 Stem Cell Banking Market, By Source (2018 vs 2023) 4.3 Stem Cell Banking Market, By Application (2018 vs 2023) 4.4 Stem Cell Banking Market, By Service Type (2018 vs 2023) 4.5 Geographic Snapshot: Stem Cell Banking Market (2018)
5 Market Overview 5.1 Introduction 5.2 Market Dynamics 5.2.1 Market Drivers 126.96.36.199 Growing Awareness on the Therapeutic Potential of Stem Cells 188.8.131.52 Development of Novel Technologies for Stem Cell Preservation, Processing, and Storage 184.108.40.206 Increase in HematopOIEtic Stem Cell Transplantation Procedures 220.127.116.11 Increasing Investments in Stem Cell-Based Research 5.2.2 Market Restraints 18.104.22.168 High Operational Costs of Stem Cell Banking 22.214.171.124 Stringent Regulatory Frameworks 5.2.3 Market Opportunities 126.96.36.199 Emerging Countries 188.8.131.52 Rising Global Burden of Major Diseases 5.2.4 Market Challenge 184.108.40.206 Socio-Ethical Concerns Related to Embryonic Stem Cells
7 Stem Cell Banking Market, By Service Type 7.1 Introduction 7.2 Sample Preservation and Storage 7.3 Sample Analysis 7.4 Sample Processing 7.5 Sample Collection and Transportation
8 Stem Cell Banking Market, By Application 8.1 Introduction 8.2 Personalized Banking Applications 8.3 Research Applications 8.3.1 Disease Treatment Studies 8.3.2 Life Science Research 8.3.3 Drug Discovery 8.4 Clinical Applications 8.4.1 HematopOIEtic Disorders 8.4.2 Autoimmune Disorders 8.4.3 Other Diseases
9 Stem Cell Banking Market, By Region
10 Competitive Landscape 10.1 Overview 10.2 Global Market Ranking Analysis (2017) 10.3 Competitive Scenario 10.3.1 Agreements, Partnerships, and Collaborations 10.3.2 Mergers and Acquisitions 10.3.3 Service Launches and Enhancements 10.3.4 Other Developments
11 Company Profile 11.1 Cord Blood Registry Systems 11.2 Cordlife 11.3 Cryo-Cell International 11.4 Cryo-Save AG (A Subsidiary of Esperite N.V) 11.5 LifeCell International 11.6 StemCyte 11.7 ViaCord (A Subsidiary of Perkinelmer) 11.8 Global Cord Blood 11.9 Smart Cells International 11.10 Vita34 11.11 CryoHoldco