The new report by Expert Market Research titled, ‘Global Stem Cell Banking Market Report and Forecast 2021-2026’, gives an in-depth analysis of the global stem cell banking market, assessing the market based on its segments like Service type, product type, utilisation, bank type, application, and major regions like Asia Pacific, Europe, North America, Middle East and Africa and Latin America. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
The key highlights of the report include:
Market Overview (2021-2026)
- Historical Market Size (2020): USD 8.4 Billion
- Forecast CAGR (2021-2026): 13.5%
- Forecast Market Size (2026): USD 17.9 Billion
The global stem cell bank market is primarily driven by the advancements in the field of medicine and the rising prevalence of genetic and degenerative diseases. Further, the increasing research and development of more effective technologies for better preservation, processing, and storage of stem cells are aiding the growth. Additionally, rising prevalence of chronic diseases globally is increasing the for advances in medical technologies, thus pushing the growth further. Moreover, factors such as rising health awareness, developing healthcare infrastructure, growing geriatric population, and the inflating disposable incomes are expected to propel the market in the forecast period.
Industry Definition and Major Segments
Stem cells are undifferentiated cells present in bone marrow, umbilical cord adipose tissue and blood. They have the ability to of differentiate and regenerate. The process of storing and preserving these cells for various application such as gene therapy, regenerative medicine and tissue engineering is known as stem cell banking.
By service type, the market is divided into:
- Sample Preservation and Storage
- Sample Analysis
- Sample Processing
- Sample Collection and Transportation
Based on product type, the industry can be segmented into:
- Human Embryonic Cells
- Adult Stem Cells
- IPS Cells
The market is bifurcated based on utilization into:
By bank type, the industry can be broadly categorized into:
Based on application, the industry can be segmented into:
- Personalized Banking
On the basis of regional markets, the industry is divided into:
1 North America
1.1 United States of America
2.2 United Kingdom
3 Asia Pacific
4 Latin America
5 Middle East & Africa
5.1 Saudi Arabia
5.2 United Arab Emirates
5.4 South Africa
Regionally, North America is projected to dominate the global stem cell bank market and expand at a significant rate. This can be attributed to increasing research and development for stem cell application in various medical fields. Further, growing investments of pharmaceutical players and development infrastructure are other factors that are expected to stem cell bank market in the region. Meanwhile, Asia Pacific market is also expected to witness fast growth owing to the rapid development in healthcare facilities and increasing awareness of stem cell banking in countries such as China, India, and Indonesia.
Key Market Players
The major players in the market are Cryo-Cell International, Inc., Smart Cells International Ltd., CSG-BIO Company, Inc., CBR Systems Inc., ViaCord, LLC, LifeCell International Pvt. Ltd., and a few others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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