What Has Been the Progress and Growth of the Stem Cell Or Cord Blood Banking Market in Recent Years?
The stem cell or cord blood banking market has seen considerable growth due to a variety of factors.
• The market size of stem cell/cord blood banking has significantly expanded in the past few years. The industry is anticipated to grow from $12.26 billion in 2024 to $13.36 billion in 2025, with a compound annual growth rate (CAGR) of 9.0%.
The notable achievement in the past can be credited to advancements in medicine, heightened awareness, effective clinical applications, regulatory backing, and research funds.
How Does the Forecast Look for the Stem Cell Or Cord Blood Banking Market?
The stem cell or cord blood banking market is expected to maintain its strong growth trajectory in upcoming years.
• In the coming years, the stem cell/cord blood banking market size is projected to experience substantial growth. The market will expand to a value of $21.78 billion in 2029, with a compound annual growth rate (CAGR) of 13.0%.
The predicted growth during the forecast period can be linked to factors such as personalized medicine, emerging therapies, international expansion, investment in biotechnology, and the legal and ethical framework. Key trends anticipated during this period include non-invasive collection methods, multi-faceted banking services, transparency and regulation, collaborative endeavors, and innovations in storage.
What Are The Leading Drivers Of Growth In The Stem Cell Or Cord Blood Banking Market?
The rise in the number of cancer cases is significantly propelling the stem cell/cord blood banking market. A variety of cancer diseases such as leukemia and multiple myeloma can benefit from stem cell transplants. Such a treatment could involve either an autologous transplant, where the same person provides and receives the stem cells, or an allogeneic transplant, where the stem cells are sourced from a matching related or unrelated donor. The use of stem cells in cancer treatment can help revive the blood composition stem cells that often get damaged during chemotherapy. For instance, the American Cancer Society, a non-profit organization advocating for cancer, noted that in January 2023, the number of those afflicted by cancer had risen to 1,958,310, marking a 3.16% rise from the 1,898,160 cases in 2021. This surge in cancer cases is consequently fueling the growth of the stem cell/cord blood banking market.
How Are The Segments Defined Within The Global Stem Cell Or Cord Blood Banking Market?
The stem cell/cord blood banking market covered in this report is segmented –
1) By Cell Type: Adult Stem Cells, Umbilical Cord Blood Stem Cells, Embryonic Stem Cells
2) By Service: Collection, Processing, Analysis, Storage
3) By Bank Type: Public, Private
4) By Application: Leukemia, Anemia, Thalassemia, Autism, Cerebral Palsy, Diabetes, Other Applications
Subsegments:
1) By Adult Stem Cells: Hematopoietic Stem Cells (HSC), Mesenchymal Stem Cells (MSC), Neural Stem Cells (NSC), Induced Pluripotent Stem Cells (iPSCs)
2) By Umbilical Cord Blood Stem Cells: Hematopoietic Stem Cells (HSC) From Cord Blood, Mesenchymal Stem Cells (MSC) From Cord Blood
3) By Embryonic Stem Cells: Embryonic Stem Cells (ESCs) From Human Embryos, Stem Cells Derived From Human Embryonic Germ Cells
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What Trends Are Shaping The Stem Cell Or Cord Blood Banking Market?
The integration of cord blood and tissue storage with genomics services indicates a developing pattern in the stem cell/cord blood banking industry. This combination is feasible and productive because it provides synergistic services to established customers, thus aiding in the enlargement of their product offerings. For instance, Natera, a genetic testing firm, has introduced the Evercord service for preserving cord blood and tissue. This service allows future parents to gather, preserve, and possibly extract their neonate's cord blood and tissue for therapeutic purposes in transplantations and restorative medicine applications.
Who Are the Key Players In The Stem Cell Or Cord Blood Banking Market?
Major companies operating in the stem cell/cord blood banking market include:
• AMAG Pharmaceuticals Inc.
• Cryo-Cell International Inc.
• Esperite NV
• Americord Registry LLC
• China Cord Blood Corporation
• Cordlife Group Ltd.
• CordVida
• Cryo Stemcell
• PerkinElmer Inc.
• ReeLabs Pvt Ltd.
• Smart Cells International Ltd.
• Stemade Biotech Pvt Ltd.
• ViaCord Inc.
• Americord Registry LLC
• LifeCell International
• Cryoviva Biotech Pvt Ltd.
• Cytori Therapeutics Inc.
• Thermo Fisher Scientific Inc.
• Cord Blood America Inc.
• StemCyte Inc.
• Brainstorm Cell Therapeutics Inc.
• Cord Blood Registry Systems Inc.
• Healthbanks Biotech Usa Inc.
• Cryo-save Private Ltd.
• New York Cord Blood Center
• CryoHoldco
• Vita 34 International AG
• Reliance Life Sciences Pvt Ltd.
• Maze Cord Blood Laboratories
• Cells4Life Group LLP
What Is The Most Dominant Region In The Stem Cell Or Cord Blood Banking Market?
North America was the largest region in the stem cell/cord blood banking market in 2023. Western Europe was the second largest region in the stem cell/cord blood banking market analysis. The regions covered in the stem cell/cord blood banking market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
