Stem Cell Banking Market Trends, Business Strategies and Opportunities with Key Players Analysis 2024

New York, United States, 2019-Aug-08 — /EPR Network/ — The stem cell banking market is expected to grow during the forecast period mainly due to the easy extraction methods used and increasing awareness about stem cell therapeutics and their potential in treating various diseases. According to World Health Organization (WHO), cancer is one of the leading causes of morbidity and mortality worldwide, with approximately 14 million new cases in 2012 and the number of new cases are expected to rise by about 70% over the next two decades. With promising results with stem cell therapies in treating such disorders, the increased incidence of these disease is expected to act as a driving factor for the growth of the global stem cell banking market.

The stem cell banking involves high operating cost for the umbilical cord processing and storage. Many people do not opt for stem cell banking due to lack of awareness and high cost of stem cell therapy. Also, frequent changes in legal regulations related to stem cell banking hinder the growth of the global stem cell banking market.

North America holds the largest share in the global stem cell banking market since the majority of stem cell banking players are based in the region. The growth in the North American stem cell banking industry is mainly due to the increase in awareness among people regarding stem cell banks.

Some of the major players operating in the stem cell banking market include Cordlife Group Ltd, Cryocell International, Inc., Lifecell International Pvt. Ltd., PerkinElmer, Inc. (Viacord), StemCyte Inc., CryoSave AG, China Cord Blood Corporation, Cord Blood America, Inc., Caladrius Biosciences Inc., CBR Systems, Inc., Cordvida, Cordviva India.

MARKET SEGMENTATION

By Bank Type

• Cord Blood
• Cord Tissue

By Service

• Collection and Transportation
• Processing
• Analysis
• Storage

By Application

• Cerebral Palsy
• Thalassemia
• Cancer Diseases
• Diabetes
• Autism
• Others

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