IMARC Group has recently released a new research study titled “Stem Cell Banking Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028”, offers a detailed analysis of the market drivers, segmentation, growth opportunities, trends and competitive landscape to understand the current and future market scenarios. This report can serve as an excellent guide for investors, researchers, consultants, marketing strategists and all those who are planning to foray into the market in any form.
How big is the stem cell banking market?
The global stem cell banking market size reached US$ 7.4 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 11.7 Billion by 2028, exhibiting a growth rate (CAGR) of 8.1% during 2023-2028.
Stem cell banking involves extracting, freezing, and storing stem cells from a newborn’s umbilical cord for future medical use. It is used to cure several diseases, such as blood disorders, diabetes, thalassemia, leukemia, and genetic diseases. Stem cells can also be used in regenerative medicine to repair damaged tissues and organs. There are mainly two types of stem cells that can be collected and stored: embryonic and cord blood stem cells. The potential of stem cells to regenerate has significantly surged their application in gene therapy, tissue engineering, and regenerative medicines.
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Global Stem Cell Banking Market Growth Drivers and Trends:
The rising awareness regarding the potential benefits of stem cell therapy is one of the key factors boosting the market growth. This is further supported by the increasing incidence of chronic diseases and the growing demand for regenerative medicine. Moreover, the surging demand for cord blood stem cell banking and the rising number of stem cell clinics and hospitals are providing a considerable thrust to the market growth.
Furthermore, the increasing approval of clinical trials in stem cell research and the development of novel technologies for stem cell storage, preservation, and processing are bolstering the market growth. Apart from this, burgeoning investments in stem cell-based research, growing demand for personalized medicine due to inflating consumer per capita income, and a rise in hematopoietic stem cell transplantation (HSCT) procedures are creating a positive outlook for the market.
Stem Cell Banking Key CompaniesCovered:
- CBR Systems Inc.
- China Cord Blood Corporation
- Cordlife (SGX: P8A)
- Cryo-Cell International, Inc. (NYSEAMERICAN: CCEL
- Cryo-Save AG (A Group of Esperite)
- Cryoviva India
- Smart Cells International Ltd
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Key Market Segmentation:
Breakup by Product Type:
- Adult Stem Cells
- Human Embryonic Cells
- IPS Cells
Breakup by Service Type:
- Sample Preservation and Storage
- Sample Analysis
- Sample Processing
- Sample Collection and Transportation
Breakup by Bank Type:
Breakup by Utilization:
Breakup by Application:
- Personalized Banking Applications
- Research Applications
- Clinical Applications
Breakup by Region:
- North America: (United States, Canada)
- Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America: (Brazil, Mexico, Others)
- Middle East and Africa
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Key Highlights of the Report:
- Market Performance (2017-2022)
- Market Outlook (2023-2028)
- Market Trends
- Market Drivers and Success Factors
- Impact of COVID-19
- Value Chain Analysis
- Comprehensive mapping of the competitive landscape
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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