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Stem Cell Banking Market Size, Share and Forecast 2026

(PharmaNewsWire.Com, August 30, 2019 ) Stem Cell Banking Market

• Stem cells are undifferentiated cells which 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 for the treatment of more than 80 hostile diseases. Stem cell banking is the process of collecting, extracting and storing by cryogenically freezing the stem cells and other cells of the immune system for potential future medical use.



Stem Cell Banking Market Dynamics

• The rise in hematopoietic stem cell transplantation procedures along with increasing investments in stem cell-based research further propel the stem cell banking.

• 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.



Stem Cell Banking Market Segmentation Analysis

• By service, the market is segmented into preservation and storage, analysis, processing, collection, and transportation.

• The processing sector holds the most substantial share in this market, but collection and transportation services are gaining motivation. The preservation & storage share is anticipated to be the fastest growing segment, owing to the growing adoption of stem cell banking services in significant countries coupled with the high market penetration of stem cell banking services.

• By bank type, the market is split into private and public stem cell banks. Private stem cell bank dominant the market segment owing it to the high revenue generated by private stem cell banks.

By application, the global stem cell banking market is segmented into cerebral palsy, thalassemia, leukemia, diabetes, autism, and others. Leukemia holds the most significant share due to its high prevalence and the immense potential of cord blood and tissues for the treatment of patients.

• According to the Leukemia & Lymphoma Society (LLS), 60,300 new cases of people were diagnosed with leukemia in 2018, and an estimated 381,774 people are living with or in remission from leukemia in the US.



Stem Cell Banking Market Geographical Analysis

• North America dominates the global stem cell banking market, and it is primarily attributed to the availability of government funding for stem cell research.

• Asia-Pacific region is expected to be the fastest growing market during the forecast period, owing to the rising birth rates coupled with increasing prevalence of congenital disabilities, indicating high demand for stem cells banking.

• The increasing healthcare expenditure boosts Stem Cell Banking market in the Asia Pacific region.



Stem Cell Banking Market Competitive Analysis

• June 2018, Cryo-Cell International, Inc., the world’s first private cord blood bank to separate and store stem cells in 1992, announced that it agreed to acquire all of the assets of Cord Blood Bank substantially. The acquisition is expected to propel Cryo-Cell International into the public cord blood banking business and is expected to solidify Cryo-Cell International’s role as the industry leader further.

• January 2019, Dubai Healthcare City has announced an increase in stem cell banking services with the opening of CryoSave Arabia’s laboratory that can store a million samples. CryoSave Arabia in DHCC is the only private facility in the region licensed to collect, process, test and cryogenically store stem cells.



• View full report: https://www.datamintelligence.com/research-report/stem-cell-banking-market



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Source: EmailWire.Com

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