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
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Global Stem Cell Banking Market
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