The stem cell banking market consists of services that collect, process, analyze, cryopreserve and store stem cells from umbilical cord blood and tissues for future therapeutic use. Stem cell banking helps individuals and families preserve their newborn's stem cells that can treat over 80 diseases including leukemia, lymphoma, thalassemia and sickle cell anemia. With continued advancements in regenerative medicine research and rising public awareness about the benefits of stem cells, more individuals globally are opting for stem cell storage services.
Market key trends:
The increasing usage of stem cells for disease treatment is a key factor propelling the growth of the stem cell banking market. According to the World Health Organization (WHO), around 20-30% of all disease could potentially be treated with stem cells and regenerative medicine techniques. Currently, hematopoietic stem cells from cord blood and bone marrow are routinely used for treatment of over 80 diseases including leukemia, lymphoma and inherited metabolic disorders. Over the past few years, there have been breakthroughs in the clinical research for treatment of cardiac damage, diabetes, Parkinson's disease and spinal cord injury using stem cells. This research validates the therapeutic potential of stem cells and boosts adoption of stem cell banking services globally. Early preservation of stem cells are gaining importance as it provides an unmatched autologous stem cell source to individuals for future treatment. This drives the demand for private and public stem cell banking.
Segment Analysis
The global stem cell banking market is dominated by the cord blood segment. Cord blood banking accounts for around 60% of the overall market share due to increasing awareness about stem cell therapies and use of stem cells in treating over 80 diseases. With higher success rate of cord blood transplantation compared to bone marrow transplantation, there has been rising preference for cord blood banking among expectant families.
Key Takeaways
The Global Stem Cell Banking Market Demand is expected to witness high growth. The global stem cell banking market is estimated to be valued at US$ 616.11 Mn in 2024 and is expected to exhibit a CAGR of 5.4% over the forecast period 2024 to 2031.
North American region currently dominates the stem cell banking market with over 35% share. This can be attributed to growing awareness about stem cell therapies, high disposable income, and increasing investment by both public and private sectors in stem cell research in the US and Canada. The Asia Pacific region is expected to grow at the fastest rate during the forecast period owing to rising healthcare expenditure, growing medical tourism industry, and increasing focus of key players on expanding their presence in China, India, and other Asia Pacific countries.
Key players related content comprises Key players operating in the stem cell banking market are CM Fine Chemicals GmbH, Hawks Chemical Company, Hebei Yingong New Material Technology Co., Ltd., Heranba Industries Ltd., Jiangsu Dacheng Pharmaceutical and Chemical Co., Ltd., Luyunjia Chemistry Xiamen Limited, Merck KGaA, Mody Chemi-Pharma Limited, RX MARINE INTERNATIONAL, and Yancheng Longsheng Chemical Co., Ltd.
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