Stem Cell Banking Market: Rise in Incidence of Chronic Conditions to Drive the Market – BioSpace

The stem cell banking is the practice of preserving blood cell from a new born baby for future use. The preserved blood is used in medical therapies for a variety of diseases, which include conditions such as sarcoma, leukemia, immune conditions, lymphoma, and metabolic disorders.

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Stem cells are capable of producing blood cells, namely red blood cells, platelets, and white blood cells, which are produced in the human body. Researchers have discovered that stem cells can be used for the treatment of 80 different diseases including thalassemia, sickle cell anemia, leukemia, diabetes, and cardiac diseases.

The major sources for stem cell bank are storing of peripheral blood and bone marrow, umbilical cord blood (UCB) is by far considered as the largest component for hematopoietic stem cells. In the past few years, donated umbilical cord blood has become a reliable source of stem cells, and is thus considered as a valuable biological resource.

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The chances of cord blood sample matching with the patients that is closely in relation to the baby whose sample is to be used are 39% more than the sample obtained from the public banks. Stem cell banking services is a promising and fast growing segment in the field of next generation stem cell therapy and national cord blood registries are changing perception and look of the industry.

Rise in incidence of chronic conditions and increase in investments by pharmaceutical and biopharmaceutical companies for stem cell research are expected to drive the global stem cell banking market during the forecast period. Rise in the number of stem cell donors and superior quality of stem cell banking facilities and increase in research & development are expected to drive the global stem cells market. However, high processing & storage cost and lack of acceptance and awareness in developing regions are likely to inhibit the market.

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The global stem cell banking market can be segmented based on source, service type, application, end-user, and geography. In terms of source, the stem cell banking market can be categorized into placental stem cells, adipose tissue-derived stem cells, bone marrow-derived stem cells, human embryo-derived stem cells, dental pulp-derived stem cells, and others.

Based on service type, the stem cell banking market can be divided into sample preservation and storage, sample analysis, sample processing, and sample collection & transportation. In terms of application, the stem cell banking market can be classified into research applications, clinical applications, and others. Based on end-user, the global stem cell banking market can be segmented into hospitals (medical applications), pharmaceutical research (drug discovery), research institutes (scientific research), and others.

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In terms of region, the global stem cell banking market can be classified into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. In terms of revenue, North America dominated the stem cell banking market in 2017, followed by Europe. North America dominated the global market due to increasing prevalence of chronic diseases and expanding network of stem cell banking services.

The market in Asia Pacific, Latin America, and Middle East & Africa is anticipated to expand at a high growth during the forecast period due to growth in the health care industry and increase in patient population in these regions. The market in China, Brazil, and India is projected to expand at a considerable pace between 2018 and 2026 due to rise in investment by governments of these countries to improve health care facilities.

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Key players operating in the global stem cell banking market include Cord Blood Registry (CBR) Systems, Inc., Cryo-Cell International, Inc. Cordlife Group Limited, Lifecell International Private Limited, Cryo-Save AG, and StemCyte.

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Stem Cell Banking Market: Rise in Incidence of Chronic Conditions to Drive the Market - BioSpace