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Stem Cell Banking Market - Emerging Industry Innovations & Future Forecasts

The global stem cell banking market is projected to reach USD 9,415.4 million by 2023 from USD 6,290.6 million in 2018, at a CAGR of 8.4% from 2018 to 2023.

Factors such as the growing awareness on the therapeutic potential of stem cells; development of novel technologies for stem cell preservation, processing and storage; increase in hematopoietic stem cell transplantation (HSCT) procedures; and increasing investments in stem cell-based research are driving the growth of the stem cell banking market.

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Recent Developments:

In 2017, Life Cell International (India), launched upgraded and enhanced its umbilical cord collection kit

In 2017, Vita34 AG (Germany) acquired Seracell Pharma AG (Germany) to strengthen its position in the German stem cell banking market.

In 2016, StemCyte India Therapeutics Pvt. Ltd. (India), a subsidiary of StemCyte (US) received accreditation from The Foundation for the Accreditation of Cellular Therapy (FACT) for both public and private stem cell banking services.

In 2015, Cord Blood Registry (CBR) Systems (US) entered into a collaboration agreement with New York Stem Cell Foundation (US) to develop induced pluripotent stem cells from umbilical cords

Restraint: High operational costs of stem cell banking

Cell banks, tissue banks, and biobanks incur significant expenditure during the sample processing, quality testing, and sample preservation and storage processes. This does not include spending on the purchase and maintenance of premium-priced instruments, reagents, and consumables. This results in high operational costs for service providers. 

Moreover, increasingly stringent and mandatory regulatory requirements related to stem cell preservation and banking—as well as the costly licensing/approval process for the establishment of stem cell banks in developed nations—are expected to further contribute to the overall operational costs for stem cell banking service providers.

Key questions addressed in the report:

What are the growth opportunities related to stem cell banking market across major regions in the future?
Emerging countries have immense opportunities for the growth and adoption of stem cell banking. Will this scenario continue in the next five years?
What are the various types of stem cell banking services and their market share in the overall market?
What are the new trends and advancements in the applications segment?

North America is expected to dominate the stem cell banking market in 2019

Geographically, the market is segmented into North America, Europe, Asia Pacific, and the Rest of the World. North America is expected to account for the largest share in 2019. The expanding network of stem cell banking services across the region, ongoing approval of stem cell lines for disease treatment (especially for hematopoietic & autoimmune disorders), recent technological advancements in the field of stem cell collection and preservation techniques, and rising public-private investments for stem cell researches are driving the growth of the stem cell banking market in North America.

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The major players in the market include Cord Blood Registry (CBR) Systems (US), Cordlife Group Limited (Singapore), Cryo-Cell International (US), ViaCord (US), Cryo-Save AG (Netherlands), LifeCell International (India), StemCyte (US), Global Cord Blood Corporation (China), Smart Cells International (UK), Vita34 AG (Germany), and CryoHoldco (Mexico); among others.


on April 28 at 10:29

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