Stem Cell Banking Market analysis analysis by revenue and forecast to 2025
Market Synopsis
Worldwide rising incidence of life-threatening genetic disorders and chronic diseases is expected to foster market growth during the forecast period. According to the statistics published by Genetics Home Reference, about one in 200,000 individuals in the US are born with syndrome A every year. An estimated 15,000 infants with syndrome B were born in 2018 across the world. In addition, about six in 10 adults in the US have a chronic disease, and four in 10 adults in the US have two or more chronic diseases.
Segmentation
The global stem Cell Banking Market analysis has been segmented based on cell type, bank type, and application.
Based on cell type, the market has been divided into umbilical cord stem cells, adult stem cells, and embryonic stem cells. The umbilical cord stem cells segment has been additionally categorized into cord blood, cord tissue, and placenta. The umbilical cord stem cells segment will hold the highest market share over the forecast period due to huge demand for umbilical cord blood in stem cell research. Scientists found that the umbilical cord is a rich source of stem cells and are collected from people of different biological traits.
On the basis of bank type,Stem Cell Banking Market analysis has been classified into private banks, public banks, and hybrid banks. The private bank's segment would lead the market throughout the forecast period as it generates greater revenue, the cost to retrieve cord blood is free, and has complete ownership rights preserved by the donor. In addition, private banks have flexible collection sites and assured, and secured access offers a competitive advantage over public banks.
Key Players
Some of the key players in the global stem Cell Banking Market analysis are Americord Registry LLC (US), CBR Systems, Inc. (US), Cryo-Cell International, Inc. (US), Cordlife (Singapore), Cryo-Save AG (Netherlands), Smart Cells International Ltd. (UK), Global Cord Blood Corporation (Hong Kong), Celgene Corporation (US), BrainStorm Cell Therapeutics (US), and Regrow Biosciences Pvt. Ltd. (India).
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Stem cells (SC) are a class of undifferentiated biological cells of a multicellular organism that have the ability to produce indefinite cells of the same type, from which certain types of cells (proliferation and replication) can be produced by differentiation in the body through early life and growth. The stem has the potential to develop into several different cell types, from muscle cells to brain cells. Factors representing the growth of the market are rising use of therapeutic potential of stem cells, increasing investments in stem cell-based research, surging number of hematopoietic stem cell transplantation (HSCT) procedures, and growing newborn population.
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