The global cord stem cell banking market is a vital component of regenerative medicine, encompassing the collection and preservation of umbilical cord blood stem cells. With the potential for diverse differentiation, these cells offer a valuable resource for future medical treatments. Cord stem cell banking responds to the increasing demand for personalized and regenerative therapies, serving as biological insurance for a child's future health. The market supports potential treatments for various diseases, including thalassemia, autoimmune conditions, leukemia, and inherited metabolic disorders by storing cord blood containing stem cells.
Data Bridge Market Research analyses that the Cord Stem Cell Banking Market, which was USD 9.3 billion in 2022, would rise to USD 45.64 billion by 2030 and is expected to undergo a CAGR of 22% during the forecast period 2023 to 2030.
"Increasing cancer cases drive the market growth"
The increasing prevalence of cancer, as evidenced by Globocan 2020 data, showcases 457,960 new cases in the U.K. and 415,269 in Italy. Prominent types include lung, colon, prostate, and skin cancer. Stem cell transplants, particularly cord stem cells, effectively treat leukemia and multiple myeloma. These stem cells can restore blood-forming stem cells damaged during chemotherapy. With the growing number of cancer cases, cord stem cell banking is crucial in research institutes and hospitals, indicating substantial anticipated growth in the forecast period.
What restraints the growth of the global cord stem cell banking market?
" Lack of awareness among pregnant women hamper the market growth"
The lack of awareness, primarily among pregnant women, is a significant constraint for the cord stem cell banking market. Many pregnant women are unfamiliar with the operations of public cord blood banks, leading to limited awareness and adoption of this option. Despite the proven benefits of stem cell transplantation for cancer treatment, this lack of awareness hampers market growth. The potential advantages of cord stem cell banking remain underutilized due to insufficient knowledge and understanding among the target demographic.
Segmentation: Global Cord Stem Cell Banking Market
The global cord stem cell banking market is segmented on the basis of storage type, product type, service type, source, and indication.
- On the basis of storage type, the global cord stem cell banking market is segmented into private banks, hybrid banks, and public banks
- On the basis of product type, the global cord stem cell banking market is segmented into cord blood, cord blood, and cord tissue
- On the basis of service type, the global cord stem cell banking market is segmented into collection and transportation, processing, analysis, and storage
- On the basis of source, the global cord stem cell banking market is segmented into umbilical cord blood, bone marrow, peripheral blood stem, and menstrual blood
- On the basis of indication, the global cord stem cell banking market is segmented into cerebral palsy, thalassemia, leukemia, diabetes, and autism
Regional Insights: North America dominates the Global Cord Stem Cell Banking Market
North America dominates the global cord stem cell banking market, driven by the significant presence of key market players in the U.S. Ongoing approvals of stem cell lines for disease treatment contribute to the region's prominence. Additionally, increasing awareness among the population further fuels cord stem cell banking growth in North America. The region remains at the forefront of advancements in stem cell technologies, solidifying its position as a key player in the global cord stem cell banking market.
Asia-Pacific is expected to dominate the global cord stem cell banking market, experiencing significant growth. The surge in the elderly population, a rise in chronic diseases, and increasing per capita healthcare expenditure contribute to this dominance. The region's developing healthcare infrastructure further propels market growth. As awareness increases and healthcare facilities advance, the Asia-Pacific region emerges as a key player in cord stem cell banking, addressing the rising demand for regenerative healthcare solutions.
Recent Developments: Global Cord Stem Cell Banking Market
- In 2021, BioTherapeutic Labs Corp (BTL) and American CryoStem formed a collaborative agreement for stem cell research. Under this collaboration, BTL will market products and services from American CryoStem (CRYO). The partnership aims to develop protocols incorporating CRYO's autologous mesenchymal stem cells (ATCell) and BTL's human umbilical cord-based product lines for enhanced advancements in stem cell research and development
To know more about the study, visit https://www.databridgemarketresearch.com/reports/global-cord-stem-cell-banking-market
The Prominent Key Players Operating in the Global Cord Stem Cell Banking Market Include:
- CBR Systems, Inc., (U.S.)
- Cordlife (Singapore)
- Cryo-Cell International, Inc., (U.S.)
- ViaCord (U.S.)
- Cryo-Save (Netherlands)
- LifeCell International Pvt. Ltd. (India)
- StemCyte India Therapeutics Pvt. Ltd (U.S.)
- Global Cord Blood Corporation (China)
- Smart Cells International Limited (U.K.)
- Vita 34 1997 - 2023, Inc (Germany)
- Lisata Therapeutics, 2023 (U.S.)
- BrainStorm Cell Limited (U.S.)
- Regrow Biosciences Pvt. Ltd. (India)
Above are the key players covered in the report, to know about more and exhaustive list of global cord stem cell banking market companies, contact: https://www.databridgemarketresearch.com/contact
Research Methodology: Global Cord Stem Cell Banking Market
Data collection and base year analysis are done using data collection modules with large sample sizes. The market data is analyzed and estimated using market statistical and coherent models. In addition, market share analysis and key trend analysis are the major success factors in the market report. The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, global vs Regional and Vendor Share Analysis. Please request analyst call in case of further inquiry.
