Market Research Report
Stem Cell Banking Market by Service Type, Utilization, Cell Type, and Bank Type : Global Opportunity Analysis and Industry Forecast, 2021-2030
|Stem Cell Banking Market by Service Type, Utilization, Cell Type, and Bank Type : Global Opportunity Analysis and Industry Forecast, 2021-2030|
Published: February 3, 2022
Allied Market Research
Content info: 220 Pages
Delivery time: 2-3 business days
The global stem cell banking market was valued at $4,298.5 million in 2020, and is projected to reach $16,558.4 million by 2030, registering a CAGR of 15.6% from 2021 to 2030.
Stem cell banking is the process of procuring precious stem cells from human body, processing and storing them for potential future use in stem cell treatments. Stem cell banks use low temperatures to preserve the biological properties of stem cells, protect them from contamination and degeneration. Standardized and quality controlled preservative procedures are required for any stem cell bank in order to preserve the cells for longer periods of time without losing their properties.
Rise in number of births occurring globally, increase in R&D activities in regards with applications of stem cells, and surge in prevalence of fatal chronic diseases drive the growth of the market. In addition, stem cells are used for various types of cancers and blood related diseases. For instance, according to the Journal of Leukemia & lymphoma society's report, in 2021, it was estimated that around 186,400 populations in the U.S. are diagnosed with leukemia, lymphoma, or myeloma. The rise in disposable income globally is projected to help increase the number of stem cell units stored, which in turn boosts the market growth.
Furthermore, surge in demand for advanced treatment for serious diseases boosts market growth. The rise in number of stem cell banks and increase in health expenditure of peoples further contribute in market growth.
The stem cell banking market is segmented on the basis of service type, utilization, cell type, bank type, and region. By service type, the market is mainly categorized into collection & transportation, processing, analysis, and storage. On the basis of utilization, it is categorized in used and unused. Depending on cell type, it is classified into umbilical cord stem cell, cord blood, cord tissue, placenta, adult stem cell, and embryonic stem cell. By bank type, the market is divided into public and private. By age group, the market is mainly categorized into adult and children. By type, it is categorized in brackets, anchorage appliances, ligatures, and arch wires. By region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The major companies profiled in the report include stem cell banking market American CryoStem Corporation, Americord Registry LLC, Cordlife Group Limited, Cordlife Group Limited, Cryoholdco De LatinoAmerica, S.A.P.I. DE C.V., StemCyte Cord Blood Bank, Covis Pharma., Global Cord Blood Corporation., Smart cells. and CSG BIO.