Global Stem Cell Banking Market to Reach $15 Billion by 2028: Rising Prevalence of Fatal Chronic Diseases Drives Growth

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Apr 04, 2023, 19:00 ET

DUBLIN, April 4, 2023 /PRNewswire/ -- The "Global Stem Cell Banking Market Size, Segments, Outlook, and Revenue Forecast 2022-2028 by Source, Service Type, Application, Cell Type, and Regions" report has been added to ResearchAndMarkets.com's offering.

According to this analysis, the Global Stem Cell Banking Market was valued at ~US$ 4 billion in 2017. Furthermore, owing to the increasing prevalence of infectious diseases and rising individuals' awareness regarding the therapeutic potentials of stem cells, it is estimated to be ~US$ 7 billion in 2022 and is expected to reach a market size of ~US$ 15 billion by 2028 growing with CAGR of ~12% during 2022 to 2028.

The rising prevalence of fatal chronic diseases such as cancer, cardiovascular disease, neurological disorders, immunological disorders, and other rare metabolic diseases is propelling the stem cell banking market growth.

The growing newborn population worldwide is another driving factor of the stem cell banking market.

High operational costs associated with stem cell banking, along with stringent regulatory frameworks, are impeding the growth of the stem cell banking market.

The ongoing COVID-19 pandemic increases the morbidity of cord blood transplantation (CBT) recipients globally, but stem cell procedures were slowed in 2020 due to the lockdown imposed by several governments across countries to prevent the virus's spread, resulting in a decline in stem cell banking growth.

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

Scope of the Report

The Global Stem Cell Banking Market is segmented by source, service type, application, and cell type. In addition, the report also covers market size and forecasts for the four major regions in the stem cell banking Market. The revenue used to size and forecast the market for each segment is US$ billion.

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

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 Trends by Market Segment

By Source: The Placental Stem Cells (PSCS) segment held the largest market share of the global stem cell banking market in 2021

The growth is mainly attributed to the significant rise in the number of placental and cord banks, notably in the USA and Europe

According to the World Marrow Donor Association (WMDA), a Netherlands-based organization that promotes multilateral cooperation and best practices for the benefit of blood stem cell donors and transplant patients, nearly 8,04,193 cord blood units are currently available worldwide, providing a potential cure for transplant patients.

By Service Type: The Sample Preservation and Storage segment held the largest market share of the Global Stem Cell Banking Market in 2021.

Stem cell banks primarily store samples of human stem cells for potential future use in stem cell treatments, such as bone marrow transplantation (BMT), Peripheral blood stem cell transplant, and Cord blood transplant.

The emergence of a growing number of stem cell banks across countries resulted in more stored stem cell samples, which are used in therapies and regenerative medicine in the long term.

By Application: The Personalized Banking Applications segment held the largest market share of the Global Stem Cell Banking Market in 2021.

The growth is primarily attributed to service providers' premium pricing of service plans and the benefits offered by personalized banking.

The Research Application segment is expected to grow at the fastest CAGR during the forecasted period 2022-2028, owing to rising R&D expenditure in the biopharmaceutical industry and rising government initiatives on drug discovery.

By Cell Type: The Adult Stem Cells segment held the largest market share of the Global Stem Cell Banking Market in 2021, owing to their commonality of origin in the human body (bone marrow, and fat), where they mostly reside.

The growing global prevalence of cancer and blood-related diseases, such as leukemia, lymphoma, neuroblastoma, and multiple myeloma is driving demand for adult stem cells, which replace damaged cells caused by such diseases to decrease inflammation and fight infection.

According to the American Cancer Society, a worldwide voluntary health organization dedicated to cancer eradication, nearly 60,650 new cases of leukemia is being discovered in the United States in 2022, with 24,000 deaths from the disease.

By Geography: North America accounted for the largest share of the Global Stem Cell Banking Market in 2021 and will remain dominant during the forecast period (2022-2028), owing to the increasing incidence rates of diseases, such as cancer, neurological disorders, and diabetes.

For instance, according to the American Cancer Society, cancer continues to be the second leading cause of death in the USA, after cardiovascular disease. In 2022, USA is expected to see 1.9 million new cancer cases and 609,360 cancer deaths, for a total of 1,670 deaths per day.

The growing government initiatives and investments in stem cell therapies are contributing to the region's growth in stem cell banking.

For instance, in March 2020, according to CTV News, a Canadian news platform, the Canadian government invested almost US$ 7 million in the Stem Cell Network's competitive research funding program.

Frequently Asked Questions

What is the Study Period of this Market Report?

The Global Stem Cell Banking Market is covered from 2017-2028 in this report, including a forecast for 2022-2028

What is the Future Growth Rate of the Global Stem Cell Banking Market?

The Global Stem Cell Banking Market is expected to witness a CAGR of about ~12% over the next 6 years

What are the Key Factors Driving the Global Stem Cell Banking Market?

The rising prevalence of fatal chronic diseases such as cancer, cardiovascular disease, neurological disorders, immunological disorders, and other rare metabolic diseases

Which is the Source Product Type Segment within the Global Stem Cell Banking Market?

The Placental Stem Cells (PSCS) segment held the largest share of the Global Stem Cell Banking Market in 2021

For more information about this report visit https://www.researchandmarkets.com/r/r9vah5

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