Stem cells (SC) are a class of undifferentiated biological cells of a multicellular organism that have the ability to produce indefinite cells of the same type, from which certain types of cells (proliferation and replication) can be produced by differentiation in the body through early life and growth.
According to MRFR analysis, the global Stem Cell Banking Market Size is expected to register a CAGR of 9.8% during the forecast period of 2019 to 2025 and is expected to reach USD 12,056.7 million by 2025.
The stem has the potential to develop into several different cell types, from muscle cells to brain cells. Factors representing the growth of the market are rising use of therapeutic potential of stem cells, increasing investments in stem cell-based research, surging number of hematopoietic stem cell transplantation (HSCT) procedures, and growing newborn population. For instance, in August 2018, the Ministry of Science and Technology (MOST) of the Government of China published a draft of the “2019 Annual Project Application Guide” for the Stem Cell and Transformation Research pilot project.
· Americord Registry LLC
· CBR Systems
· Cryo-Cell International
· Cryo-Save AG
· Smart Cells International Ltd
· Global Cord Blood Corporation
· Celgene Corporation
· BrainStorm Cell Therapeutics
· Regrow Biosciences Pvt. Ltd
· The global stem cell banking market has been segmented based on cell type, bank type, and application.
· Based on cell type, the market has been divided into umbilical cord stem cells, adult stem cells, and embryonic stem cells. The umbilical cord stem cells segment has been additionally categorized into cord blood, cord tissue, and placenta.
· On the basis of bank type, the global stem cell banking market has been classified into private banks, public banks, and hybrid banks.
· By application, the market has been bifurcated into thalassemia, cerebral palsy, diabetes, leukemia, autism, and others.
The market has been divided by region into the Americas, Europe, Asia-Pacific, and the Middle East & Africa. The stem cell banking market in the Americas has further been divided into North America and Latin America, with the North American market divided into the US and Canada. The existence of key market participants and sophisticated healthcare infrastructure, expanding network of stem cell banking services, and continuous efforts by researchers to explore new therapeutic applications of cord blood cells in the US and Canada is assisting in the dominance of North America. The European stem cell banking market has been categorized as Western Europe and Eastern Europe. The Western European market has further been classified as Germany, France, the UK, Italy, Spain, and the rest of Western Europe. The stem cell banking market in Asia-Pacific has been segmented into Japan, China, India, South Korea, Australia, and the rest of Asia-Pacific. Asia-Pacific is likely to register the fastest market growth over the forecast period owing to surging elder population, increasing product launches, growing investments in R&D projects, and the presence of favorable regulatory policies coupled with commercialization opportunities. The stem cell banking market in the Middle East & Africa has been divided into the Middle East and Africa.