The global stem cell banking market was valued at $1,986 million in 2016, and is estimated to reach $6,956 million by 2023, registering a CAGR of 19.5% from 2017 to 2023. Stem cell banking is a process where the stem cell care isolated from different sources such as umbilical cord and bone marrow that is stored and preserved for future use. These cells can be cryo-frozen and stored for decades. Private and public banks are different types of banks available to store stem cells.
Increase in R&D activities in regards with applications of stem cells and increase in prevalence of fatal chronic diseases majorly drive the growth of the global stem cell banking market. Moreover, the large number of births occurring globally and growth in GDP & disposable income help increase the number of stem cell units stored, which would help fuel the market growth. However, legal and ethical issues related to stem cell collections and high processing & storage cost are projected to hamper the market growth. The initiative taken by organizations and companies to spread awareness in regards with the benefits of stem cells and untapped market in the developing regions help to open new avenues for the growth of stem cell banking market in the near future.
The global stem cell banking market is segmented based on cell type, bank type, service type, utilization, and region. Based on cell type, the market is classified into umbilical cord stem cells, adult stem cells, and embryonic stem cells. Depending on bank type, it is bifurcated into public and private. By service type, it is categorized into collection & transportation, processing, analysis, and storage. By utilization, it is classified into used and unused. Based on region, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
KEY MARKET BENEFITS
>This report offers a detailed quantitative analysis of the current market trends from 2016 to 2023 to identify the prevailing opportunities.
>The market estimations provided in this report are based on comprehensive analysis of the key developments in the industry.
>In-depth analysis based on geography facilitates in analyzing the regional market to assist in strategic business planning.
>The development strategies adopted by key manufacturers are enlisted in the report to understand the competitive scenario of the market.
KEY MARKET SEGMENTS
By Cell Type
>Umbilical Cord Stem Cell ?Cord Blood
?Cord Tissue
?Placenta
>Adult Stem Cell
>Embryonic Stem Cell
By Bank Type
>Public
>Private
By Service Type
>Collection & Transportation
>Processing
>Analysis
>Storage
By Utilization
>Used
>Unused
By Region
>North America ?U.S.
?Canada
?Mexico
>Europe ?Germany
?UK
?France
?Spain
?Italy
?Rest of Europe
>Asia-Pacific ?Japan
?China
?Singapore
?India
?South Korea
?Rest of Asia-Pacific
>LAMEA ?Brazil
?Saudi Arabia
?South Africa
?Rest of LAMEA
KEY PLAYERS PROFILED
>Cord Blood Registry
>ViaCord
>Cryo-Cell
>China Cord Blood Corporation
>Cryo-Save
>New York Cord Blood Program
>CordVida
>Americord
>CryoHoldco
>Vita34
