Stem Cell Banking Market

SKU: DMBT860 | Last Updated On: Nov 02 2022 | Available Formats

>Stem Cell Banking Market Expected to reach a high CAGR of 15.68% By 2029:

Stem Cell Banking Market is segmented 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, and Other Stem Cell Sources), By Service Type (Preservation and Storage, Analysis, Processing, Collection, and Transportation), By Type of Banking (Public, Private), By Application (Cerebral Palsy, Thalassemia, Leukemia, Diabetes, Autism, Other Applications), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2022-2029

Stem Cell Banking Market Size Share Growth Insights 2022

[150 Pages Report] Stem Cell Banking Market was valued at US$ 5,015.63 million in 2021 and is estimated to reach US$ 15,947.92 million by 2029, growing at a CAGR of 15.68% during the forecast period (2022-2029).   

Stem Cell Banking Market  - Strategic Insights

Metrics

Details

Market CAGR

15.68%

Segments Covered

By Source, By Service Type, By Type of Banking, By Application, and By Region

Report Insights Covered

Competitive Landscape Analysis, Company Profile Analysis, Market Size, Share, Growth, Demand, Recent Developments, Mergers and acquisitions, New Product Launches, Growth Strategies, Revenue Analysis, and Other key insights.

Fastest Growing Region

Asia Pacific

Largest Market Share 

North America

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Stem cells are undifferentiated cells that can self-renew indefinitely through cell division. These cells can also be distinguished into more mature cells with specific functions. Currently, stem cells are used to treat more than 80 nasty diseases. Stem cell banking is collecting, extracting and storing by cryogenically freezing the stem cells and other immune system cells for potential future medical use.

Market Dynamics

The increasing demand for these diagnostic products is due to the growing awareness of the therapeutic potential of stem cells. Other factors aiding the market growth are the advancements in novel technologies and increasing research and development expenditure. All these factors are expected to drive market growth.

The increasing number of novel product launches and the rising research and development will drive market growth.     

The global market for stem cell banking is primarily driven by the growing awareness of the therapeutic potential of stem cells. Other factors aiding the market growth are advancements in novel stem cell preservation, processing, and storage technologies. The rise in hematopoietic stem cell transplantation procedures and increasing investments in stem cell-based research further propel stem cell banking. Emerging countries, the rising global burden of major diseases, the large number of newborns, the growth in GDP growth, and disposable income act as market opportunities for key players. For instance, in Sep 2021, LifeCell, a stem cell bank and provider of diagnostic solutions, announced that its novel therapy, Mesocel, got approved for a clinical trial from DGCI, the Drug Controller General of India, for COVID-19 treatment. Mesocel is extracted from mesenchymal stem cells derived from the donated umbilical cord tissue. This can now be used to treat patients with life-threatening COVID-19 pneumonia or acute respiratory distress. The clinical trial will be conducted in 2 phases.

Various funding, novel technological advancements, and the number of the latest, innovative product launches are increasing, leading to the high demand for these stem cell banking. For instance, in Mar 2021, LifeCell, a stem cell banking company, launched StemMatch, a first-of-its-kind service for the banking members community as it gives information on the accurate quality and number of stem cell units that are matching available within the LifeCell registry.

The high therapy and operational costs associated with stem cell banking will hamper the market’s growth.  

However, the high operational costs of stem cell banking and legal and ethical issues during the collection of stem cells, along with stringent regulatory frameworks and lack of acceptance and awareness, may hinder the market progress. The high cost of these stem cell therapies is hindering the market growth. According to DVC Stem, an innovative clinic of stem cell therapy, its mesenchymal stem cell (MSC) protocol that is IRB approved costs around US$25,000. 

COVID-19 Impact Analysis

The pandemic has negatively impacted global financial expectations, operations and crisis response strategy. The COVID-19 outbreak has severely impacted the healthcare industry. The stem cell banking market has experienced huge losses due to COVID, as all the research and clinical trials got affected due to the diversion of attention toward COVID. But now, the market participants are changing their long-term and short-term growth strategies by utilizing the research market and creating cutting-edge items to combat the pandemic. Various initiatives, collaborations and mergers are happening worldwide, boosting the market’s growth. For instance, in Aug 2022, StemCyte, a company manufacturing cord blood regenerative therapeutic, announced that Post-COVID Syndrome’s Phase II clinical trial with the help of umbilical cord blood stem cell therapy got approved by U.S. Food and Drug Administration. 

Segment Analysis

The umbilical cord-derived stem cells segment is expected to grow at the fastest CAGR during the forecast period (2022-2029)          

The umbilical cord-derived stem cells (UCSTs) segment is the highest market holder in the global stem cell banking market. Cord Blood is affluent in stem cells. Stem cells are developed in the bone marrow and differentiate into different blood cells, which are important in various therapies related to blood disorders, such as sickle cell disease. Umbilical cord blood can be used for gene therapy or transplantation as it’s a hematopoietic stem cell source. Umbilical cord-derived mesenchymal stem cells can be used for inflammatory and immune disease therapy. These can be promising active substances for therapeutic product development as they have a few issues related to safety, availability and ethics.

Umbilical cord-derived stem cells dominate the market due to the rising birth rate and global chronic disease cases. According to the Centre for Disease Control and Prevention, in 2021, approximately 3,659,289 newborn cases were reported in the United States. The rising number of people suffering from blood-related disorders, regulatory approvals and growing technological advancements or research/clinical trial studies drive the market’s growth. For instance, in May 2021, Cordlife Group Limited, 1st private cord blood bank in Singapore, entered into a partnership with SingHealth Duke-NUS Academic Medical Centre to test new technology that can increase blood-forming stem cells in number from stored umbilical cord blood that is stored in the first-in-man study in Singapore.

Geographical Analysis

North America holds the largest market share of the global stem cell banking market.

North America dominates the global stem cell banking market, primarily attributed to the rising prevalence of chronic ailments such as leukemia, thalassemia, diabetes, autism and many more due to changing environments worldwide, established healthcare infrastructure, and higher investment in R&D activities contribute to North America’s rapid share growth. Moreover, its broad base patient population also contributes to the growth of its share. According to the American Cancer Society, in 2022, Around 60.650 estimated novel leukemia cases will occur, out of which 24,000 deaths will occur in the United States. 

Moreover, the growing number of product launches is responsible for the market’s growth. Other factors, such as the high spending of GDP on healthcare, stimulate the market’s growth. Many key developments, technological advancements, collaborations and agreements are taking place in this region. For instance, in Feb 2021, American CryoStem Corporation, a biotechnology company at the clinical stage working on autologous cellular therapies, announced its agreement with BioTherapeutics Labs Corp., a company manufacturing umbilical cord tissues that’s also FDA-registered.

Competitive Landscape 

The stem cell banking market is highly competitive with local and global companies’ presence. Stem Cyte Inc., Cryo-cell International, American CryoStem Corporation, ViaCord, Cord Blood Registry Systems, SmartCells, Inc. (Merck), LifeCell International Pvt. Ltd., Cryoviva Biotech Pvt. Ltd, Cordlife Group Ltd., Transcell Biolife Pvt. Ltd and more. The key players are adopting various growth strategies such as product launches, mergers & acquisitions, partnerships, and collaborations, contributing to the market’s growth. For instance, in Feb 2021, Cryo-Cell International Inc, a private cord blood bank that separates and stores stem cells, announced a collaboration with Duke University. With this agreement, Cryo-Cell gets the rights to regulatory data and proprietary processes developed at Duke related to cord tissue or blood.

StemCyte:

Overview:

StemCyte Inc. is a company involved in blood regenerative therapeutics. It provides family storage and public donations and is the only for-profit company that the US Department of HHS contracts. It was established in 1997 and is headquartered in California, United States. 

Product Portfolio:

MaxCell: MaxCell is StemCyte’s proprietary processing method that retains the stem cells in higher volume. It preserves more total nucleated cells than other standard processing procedures, improving engraftment chances. 

Key Development: In May 2022, StemCyte, a blood regenerative therapeutics company, announced renewing its agreement with California Umbilical Cord Blood Collection Program. StemCyte helped raise collections at hospitals in Southern California by extending the cord blood collection hours.  

The global stem cell banking market report would provide access to approximately 40+ market data tables, 45+ figures, and 200 (approximate) pages. 

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FAQ

Q1. What would be forecast period in the market report?

A. The forecast period in the report is from 2022 to 2029

Q2. Which are the top companies hold the market share in Stem cell banking market?

A. The top companies that hold the market share in Stem cell banking market are American CryoStem Corporation, Americord Registry LLC, Cordlife Group Limited, Cryo Cell International Inc. , 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.

Q3. What are the key trends in the stem cell banking market report?

A. The key trends in the stem cell banking market are by an increase in the prevalence of cancer; rise in number of stem cell bank and advancements in stem cells.

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