Kings Market Research has published a detailed analysis of the “Stem Cell Banking Market”. The report includes key business insights, demand analysis, pricing analysis, and competitive landscapes. Stem Cell Banking Market Size was valued at USD 5,594.7 million in 2023 and is projected to grow from USD 6,292.9 million in 2024 to USD 15,349.0 million by 2031, exhibiting a CAGR of 13.58% during the forecast period. The market is experiencing robust expansion, mainly due to regulatory advancements that ensure safety and efficacy standards.
Key Companies in Stem Cell Banking Market
- CBR Systems, Inc.
- Cordlife India
- Cryo-Cell International
- ViaCord.
- LifeCell International
- StemCyte India Therapeutics Pvt. Ltd
- Global Cord Blood Corporation.
- Smart Cells International Limited
- Vita 34
- CryoHoldco
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Regional Analysis:
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 RD 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.
Stem Cell Banking Market:
By Service Types:
- Collection Transportation
- Processing
- Analysis
- Storage
By Utilization:
- Used
- Unused
By Cell Type:
- Umbilical Cord Stem Cell
- Adult Stem Cell
- Embryonic Stem Cell
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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. The government proposed investing 400 million yuan (around USD 56.4 million) to support stem cell research in China. On the other hand, high operational and storage costs and dearth of awareness about stem cell banking in developing and underdeveloped nations are anticipated to impede the market growth during the forecast period.
Future Outlook:
The future of the stem cell banking market looks promising, with continued growth expected over the coming years. The market's expansion will be driven by ongoing research, technological advancements, and the increasing adoption of stem cell therapies. Emerging markets in Asia Pacific and Latin America offer significant opportunities for growth, as awareness and healthcare infrastructure improve.
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