ID: MRFR/HC/6969-HCR | February 2021 | Region: Global | 90 pages
Stem Cell Banking Market is expected to hold a value of USD 12,056.7 Million by 2025 at a CAGR of 9.8%.
Worldwide rising incidence of life-threatening genetic disorders and chronic diseases is expected to foster market growth during the forecast period. According to the statistics published by Genetics Home Reference, about one in 200,000 individuals in the US are born with syndrome A every year. An estimated 15,000 infants with syndrome B were born in 2018 across the world. In addition, about six in 10 adults in the US have a chronic disease, and four in 10 adults in the US have two or more chronic diseases.
Increased spending on the management of chronic diseases is likely to act as a promising factor for market growth in the near future. The Centers for Disease Control and Prevention (CDC) reported that in the US, USD 3.3 trillion (90% of the total health expenditure) was spent on chronic and mental health conditions during 2018.
By Cell Type
Umbilical Cord Stem Cells: Expected to command the market owing to the higher adoption of umbilical cord stem cells to treat around 80 diseases. This segment has been additionally classified into cord blood, cord tissue, and placenta. Worldwide growth in the number of placental and cord banks (particularly in the US and Europe) along with rising awareness about the therapeutic potential of stem cells is likely to support the considerable growth of the placenta segment.
Adult Stem Cells: Adult stem cells originate from adult tissue and redevelop into all the cell types of the organ from the origin.
Embryonic Stem Cells: Embryonic stem cells or pluripotent stem cells are produced from the inner cell mass of a blastocyst (embryo)
By Bank Type
Private Banks: This is anticipated to be the largest segment attributed to higher revenue generation from the superior service offering
Public Banks: Public cord blood banking is the act of donating the baby's cord blood to be used by a family in need. The cost of preserving cord blood is free at public banks.
Hybrid Banks: Few private cord blood banks also operate a public donation program where costs for these programs are mostly covered in part by the private side of the business. These banks are called hybrid banks.
Thalassemia: Expected to witness modest market growth.
Cerebral Palsy: Likely to hold the highest revenue share from 2019 to 2025 due to rising clinical and research applications of stem cell banking. In 2010, Dr. Kurtzberg conducted first trial on the safety and feasibility of cord blood for the treatment of acquired neurological disorders such as cerebral palsy.
Diabetes: Stem cell treatment can be used for both type 1 and type 2 diabetes and prevent diabetes-related complications such as heart disease, blindness, kidney failure and amputation of limbs.
Leukemia: A stem cell transplant can be used to restore healthy bone marrow in patients with leukemia. Stem cells help stimulate new bone marrow growth and restore the immune system.
Autism: In June 2014, Duke University Medicine was awarded USD 15 million to support an innovative research program to explore the use of umbilical cord blood cells to treat autism, stroke, cerebral palsy, and related brain disorders. On the contrary, the US Food and Drug Administration (FDA) has approved the use of stem cells for blood disorders, including cancer, but not for autism currently.
Others: This segment comprises acquired hearing loss, stroke, brain disorders, sickle cell disease, heart diseases, multiple sclerosis, Alzheimer's disease, Wiskott-Aldrich syndrome, etc.
Americas: The largest regional market. The presence of major market participants in the US, ongoing approval of stem cell lines for disease treatment, and increasing awareness among citizens about stem cell banking is about to nourish the dominance of the Americas throughout the forecast period.
Europe: The presence of initiatives implemented by the European Union and various organizations would augment the demand for cord blood banking. Furthermore, uniform regulations implemented by the European government about the support of voluntary and free donations, procedures to standardize the testing of donated tissues and cells, and procedures to ensure document safety and traceability would support the regional market growth over the study period.
Asia-Pacific: This region is anticipated to register comparatively higher CAGR over the assessment period attributed to rapidly developing medical infrastructure, growing older population along with as surge in prevalence of chronic diseases, and rising per capita healthcare expenditure in India, China, and Japan.
Middle East & Africa: The smallest market due to limited healthcare infrastructure and limited exposure to technological advancements.
Frequently Asked Questions (FAQ) :
The valuation of the global stem cell market is estimated to reach USD USD 12,056.7 MN by 2025.
The global stem cell market is projected to grow at approximately 9.8% CAGR during the forecast period (2019-2025).
Increasing investment by major companies in stem cell research & development (R&D).
North America holds the largest share in the global stem cell market, followed by Europe and the Asia Pacific, respectively.
CBR Systems, Inc. (US), Cryo-Cell International, Inc. (US), Cordlife (Singapore), Global Cord Blood Corporation (Hong Kong), Cryo-Save AG (Netherlands), Americord Registry LLC (US), Celgene Corporation (US), Smart Cells International Ltd. (UK), BrainStorm Cell Therapeutics (US), and Regrow Biosciences Pvt. Ltd. (India), are some of the major players operating in the stem cell market.
This table of content is tentative and subject to change as the research progresses.
Please Note: Financial details of company cannot be provided if the information of the company is not available in public domain and or reliable source.