“The global stem cell banking market projected to grow at a CAGR of 8.2%.”
The global stem cell banking market is projected to reach USD 9.30 billion by 2023 from 6.28 billion in 2018, at a CAGR of 8.2%. Stem cell banking market growth is mainly driven by the factors such as public awareness related to the therapeutic potential of stem cells; development of novel technologies for stem cell preservation, processing, and storage; rising number of hematopoietic stem cell transplantations (HSCTs); and increasing number of stem cell-based research. However, the high operational costs associated with stem cell banking and stringent regulatory frameworks are expected to limit the growth of the stem cell banking market during the forecast period.
“The placental stem cells segment is poised to be the fastest-growing source in stem cell banking market during the forecast period.”
Based on source, the stem cell banking market is segmented into placental, bone marrow-derived, adipose tissue-derived, human embryo-derived, dental pulp, and other stem cell sources. The placental stem cells segment is projected to grow at the highest rate during the forecast period; owing to the global rise in the number of placental and cord banks (especially in the US and Europe) coupled with growing public awareness about the therapeutic potential of stem cells.
“Asia Pacific is expected to register the highest growth rate during the forecast period.”
Geographically, the stem cell banking market is segmented into North America, Europe, Asia Pacific, and the Rest of the World. Asia Pacific is expected to register the highest CAGR during the forecast period due to the growing number of stored units with public & private stem cell banks; supportive regulatory framework for stem cell collection, processing, and preservation across major Asian countries; increased collaborations & partnerships between stem cell banking service providers to expand their networks across emerging countries; rising public awareness about the clinical benefits of stem cell therapies; and ongoing expansion & modernization of healthcare infrastructure.
Breakdown of supply-side primary interviews: by company type, designation, and region:
- By Company Type - Tier 1 – 12%, Tier 2 – 48% and Tier 3 – 40%
- By Designation – C-level – 26%, Director-level – 30%, Others – 44%
- By Region – North America - 34%, Europe – 26%, APAC – 23%, RoW – 17%
The global stem cell banking market is an expanding industry segment with a growing number of global and local service providers. As of 2017, the global stem cell banking market was dominated by Cord Blood Registry (CBR) Systems (US), Cordlife Group Limited (Singapore), and Cryo-Cell International (US). Service launches & upgrades; agreements, partnerships, & collaborations; and mergers & acquisitions were the major strategies adopted by majority of the market players to sustain their market position in the global stem cell banking market.
This report studies the global stem cell banking market based on source, application, and service type. The report also studies factors (such as drivers, restraints, opportunities, and challenges) affecting the market growth. It analyzes opportunities and challenges in the market for key stakeholders and provides details of the competitive landscape for the market leaders. Furthermore, the report analyzes micromarkets with respect to their individual growth trends, prospects, and contributions to the total market. The report forecasts the revenue of the market segments with respect to four main regions.
Reasons To Buy the Report:
From an insights perspective, this research report has focused on various levels of analysis?industry trends, market ranking analysis of top players, and company profiles, which together comprise and discuss basic views on the competitive landscape, emerging and high-growth segments of the global stem cell banking market, and high-growth regions & countries and their respective drivers, restraints, challenges, and opportunities.
The report will enrich both established firms as well as new entrants/smaller firms to gauge the pulse of the global stem cell banking market, which in turn help service providers garner greater market shares. Firms purchasing the report could use any one or a combination of the below mentioned five strategies for strengthening their market shares.
The report provides insights on the following pointers:
- Market Penetration: Comprehensive information on service portfolios offered by the major players in the global stem cell banking industry. The report analyzes the global stem cell banking market based on source, application, service type, and region/country
- Product Development: Detailed insights on the research and development activities and new service offering/upgradation in the global stem cell banking market
- Market Development: Comprehensive information about lucrative emerging markets. The report analyzes the market opportunities for various stem cell banking services across key geographies.
- Market Diversification: Exhaustive information about new service offerings, untapped geographies, recent developments, and investments in the global stem cell banking market
- Competitive Assessment: In-depth assessment of market ranking, major strategies, service offerings, and geographic coverage of leading players in the global stem cell banking market