Stem cells are building blocks of the immune system and blood, and they have the ability to develop into other cell types, in order to help in repairing tissues, organs, blood vessels, and are used in treatment of various disease. The ability of stem cells to regenerate has led to development of various treatments with it, to cure various genetic and auto-immune diseases and disorders. Cord blood stem cells have been used to treat nearly 80 diseases, including numerous types of malignancies, anemia, inherited metabolic disorders, and deficiencies of the immune system. Moreover, with the advancement in regenerative medicine, individuals of all ages can benefit from stem cell therapy in the near future.
This is expected to augment growth of the market. Stem cell banking market is expected to gain significant traction, owing to factors such as rising awareness about the therapeutic importance of stem cells, growing number of clinical trials for products that are stem cell-based, and increasing research grants and public-private funding for development of novel treatments that are stem cell-based.
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The global stem cell banking market was valued at US$ 1,634.7 million in 2016 and is expected to exhibit a robust CAGR of 18.9% over the forecast period (2017–2025).
High potential of cord blood and tissues for the treatment of patients with autoimmune diseases is expected to propel the market growth. Moreover, currently available immunosuppressive agents such as steroids, induce long term side effects despite temporary improvements. According to the Health Research Funding, 2015, around 28% of cord blood transplants have been used to treat genetic diseases, with the most common genetic disease treated being severe combined immune deficiency, followed by aplastic anemia. According to the National Cord Blood Program, 2015, cord blood from unrelated donors has been used as an alternative to bone marrow or mobilized stem cells, as a source of hematopoietic stem cells, with over 35,000 stem cell transplants successfully performed worldwide.
Increasing incidences of chronic disease and the effectiveness of stem cell therapy in the treatment of such diseases is a major driving factor for growth of stem cell banking market. According to the survey by Seattle Children’s Hospital and Research Center, 2013, the survival rate of patient with cancer after stem cell transplant for period of one year was 84% globally. Growing public awareness for stem cell storage is also contributing to stem cell banking market growth. Additionally, new clinical trial data that supports applications for hematopoietic stem cells from mesenchymal stem cells and cord blood is expected to help in growth of stem cell banking market. Moreover, various organizations are supporting stem cell banking, which is expected to aid in growth of the market. For instance, in 2012, Harvard University and University of Cambridge announced plans to set up a new stem cells research center, funded by Medical Trust UK and UK Medical Research Council, to conduct research on stem cells and their potential to treat a range of life-threatening conditions. However, low availability of cord blood units, globally and high cost for maintenance are hindering growth of the stem cell banking market.
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Key features of the study:
This report provides in-depth analysis of stem cell banking market and provides market size (US$ Million) and Cumulative Annual Growth Rate (CAGR %) for the forecast period (2017–2025), considering 2016 as the base year
It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrix for this market
This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends, regional outlook, and competitive strategy adopted by the leading players
It profiles leading players in the global stem cell banking market based on the following parameters – company overview, financial performance, product portfolio, market presence, distribution strategies, key developments, and strategies, and future plans
Key companies covered as a part of this study include Stem Cyte, Inc., Cryo-cell International, ViaCord, Cord Blood Registry, SmartCells, Inc., LifeCell International Pvt. Ltd., Cryoviva Biotech Pvt. Ltd., Cryo Stemcell, Reliance Life Sciences, and Transcell Biolife Pvt. Ltd.
Insights from this report would allow marketers and the management authorities of the companies to make informed decision regarding their future product launch, technology up-gradation, market expansion, and marketing tactics
The global stem cell banking market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts
Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the stem cell banking market