Stem Cell Banking Market Is Likely to Experience a Tremendous Growth in near Future

The Market research collection of Report Ocean has recently included the Stem Cell Banking Market Size, Scope, and Forecast 2023-2031 report. This report, prepared by industry experts and researchers, offers a comprehensive analysis of the market, covering crucial aspects such as growth factors, challenges, restraints, developments, and growth opportunities. It provides an authoritative and concise assessment of the market dynamics, highlighting emerging trends in the industry. Furthermore, the report presents a futuristic outlook, shedding light on factors expected to drive the growth of the global Orphan Drugs industry in the years to come.

Stem cells, undifferentiated biological cells with the potential to develop into specialized cells, tissues, or organs, can be preserved for future use in treating life-threatening diseases—a process known as stem cell banking. With nearly 500 stem cell banks worldwide, each striving to increase its market share, stem cell banking finds applications in conditions like cerebral palsy, thalassemia, leukemia, diabetes, autism, and others. Cerebral palsy accounts for a significant portion, approximately a quarter, of the market share among various applications. Private stem cell banks employ various marketing strategies to enhance product visibility.

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Market Dynamics

The stem cell banking market is influenced by factors such as the ease of stem cell extraction from samples, rising birth rates, increased awareness of stem cell therapeutics, and the expanding potential of stem cell treatments. Collaborations among cord blood banks, increased investments and funding, and the automation of stem cell banking procedures offer growth opportunities. However, intense competition, high operating costs, changes in legal regulations, and high entry barriers pose significant challenges.

Market Analysis

The Stem Cell Banking Market is expected to achieve a Compound Annual Growth Rate (CAGR) of 16.4% during the forecast period from 2017 to 2023. The market analysis is structured around three primary segments: product types, end-users, and regions.

Regional Analysis

The regions covered in the report include:

• North America
• Europe
• Asia Pacific
• Rest of the World (RoW)

North America is poised to lead in stem cell banking market growth, followed by Europe. Emerging regions include Asia Pacific and RoW, with India, China, and Japan offering attractive opportunities due to their large untapped markets.

Product Types Analysis

The stem cell banking market by products is segmented into:

• Umbilical cord blood and cord tissue
• Adult stem cell banking

Umbilical cord blood and tissue occupy a major share in the market and are expected to grow at a rapid CAGR during the forecast period. Recent diversifications in the stem cell banking market include dental stem cell banking and menstrual blood stem cell banking. The market also witnesses various mergers, acquisitions, and collaborations among top players, shaping the future of global stem cell banking.

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Key Players

Key players in the stem cell banking market include:

• Esperite
• Caladrius Biosciences
• ViaCord
• CBR Systems
• Smart Cells
• Life Cell
• China Cord Blood
• Cryo-Cell
• StemCyte
• Cordvida
• Cryoviva
• Other predominant and niche players

Competitive Analysis

Stem cell banks are proliferating in developed and developing nations, with approximately 450 companies offering cord blood banking services globally, indicating intense competition. China Cord Blood Corporation (CCBC) is expected to be the fastest-growing stem cell bank worldwide, with Amricord leading in the US. In 2014, Amricord achieved remarkable growth, with a 2,200% increase from 2011 to 2013. Companies such as Future Health Biobank, American Cryostem, Adicyte, Adisave, Celltex, and Vault Stem currently hold a significant portion of the Mesenchymal Stem Cells (MSC) storage market. These companies, while currently modest in size, are rapidly expanding. Cryostem, for instance, nearly doubled its revenue in 2016, reaching almost $800,000 from $400,000.

Benefits

This report offers comprehensive insights into the usage and adoption rate of stem cell banking in various regions. Key stakeholders can gain valuable information on major trends, drivers, investments, initiatives by market players, and government efforts to promote the adoption of stem cell therapy and banking in the coming years. Additionally, the report provides details about commercial devices available in the market and highlights major challenges that may impact market growth. Key business opportunities for stakeholders looking to expand their presence and revenue in specific market verticals are also analyzed, offering valuable insights for investment decisions.

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Key Stakeholders

• Pharmaceutical Companies
• Healthcare Providers
• Regulatory Authorities
• Medical Practitioners
• Investors and Analysts

Market Dynamics:

Surging air traffic:

• As the global aviation industry continues to expand, there is a corresponding increase in market demand.

Heightened emphasis on safety and reliability:

• The aerospace and defense sector places significant importance on ensuring safety and reliability, which drives the need for top-notch market offerings.

Growing commitment to environmental sustainability:

• The aerospace and defense industry is increasingly dedicated to reducing its carbon footprint, resulting in the adoption of sustainable aviation fuels.

Escalating globalization:

• The growth of international trade and travel propels the demand for market solutions.

Increasing desire for private air transportation:

• The rising number of affluent individuals and their preference for exclusive air travel are generating fresh opportunities in the market.

Expanding utilization of digital fuel management systems:

• The integration of digital fuel management systems facilitates efficient fuel consumption and reduces associated costs.

Advancements in fuel cell technology:

• Ongoing developments in fuel cell technology unlock new possibilities for the production of sustainable market alternatives.

Mounting demand for air cargo transportation:

• The flourishing e-commerce sector fuels an increasing need for air cargo transportation, thereby driving the demand for market offerings.

Rising defense budgets:

• Governments worldwide are augmenting their defense spending, leading to heightened market demand.

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