The global stem cell/cord blood banking market size is expected to grow from $9.38 billion in 2021 to $10.23 billion in 2022 at a compound annual growth rate (CAGR) of 9%. The growth in the market is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The stem cell/cord blood banking market is expected to reach $14.44 billion in 2026 at a CAGR of 9%.
What is the Global Stem Cell/Cord Blood Banking Market?
The stem cell/cord blood banking global market consists of sales of stem cell/cord blood banking services and related goods. Cord stem cells are referred to as regenerative medicines which help in regeneration of tissues or cells in the body. Stem cells therapy is designed to aid the physician in performing medical treatment of different types of cancers, neurodegenerative diseases, graft-versus-host disease and heart diseases.
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What drives the Global Stem Cell/Cord Blood Banking Market?
Increasing number of cancer patients is a major driver for the stem cell /cord blood banking market. Cancer diseases such as leukemia and multiple myeloma can be treated by stem cell transplant. In stem cell transplant, treatment can be either done by autologous transplant in which the stem cells come from the same person who gets the transplant or by allogeneic transplant in which means the stem cells come from a matched related or unrelated donor. By using stem cells in the treatment of cancer, the blood forming stem cells which are damaged during chemotherapy can be restored. According to the American Cancer Society, in 2019, around 606,880 deaths were caused in USA due to prevalence of the cancer which can be treated by transplanting the stem cells.
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Global Stem Cell/Cord Blood Banking Market Segments
The global stem cell/cord blood banking market is segmented:
By Cell Type: Adult Stem Cells, Umbilical Cord Blood Stem Cells, Embryonic Stem Cells
By Service: Collection, Processing, Analysis, Storage
By Bank Type: Public, Private
By Application: Leukemia, Anemia, Thalassemia, Autism, Cerebral Palsy, Diabetes, Others
By Geography: 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, and Africa.
Stem Cell/Cord Blood Banking Global Market Report 2022provides market size and growth forecasts for the global stem cell/cord blood banking market, global stem cell/cord blood banking market share, stem cell/cord blood banking market segments and geographies, stem cell/cord blood banking market competitive landscape including leading competitors’ revenues, profiles and market shares. The stem cell/cord blood banking market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
Global Stem Cell/Cord Blood Banking Industry Playersinclude AMAG Pharmaceuticals, Cordlife, Cryo-Cell International, Esperite, Americord Registry LLC, China Cord Blood Corporation, Cordlife Group Limited, CordVida, ESPERITE N.V. and Cryo Stemcell. Based on industry trends and company analysis, the report explains a number of strategies for companies in the market.
