Stem Cell Banking Market, By Source Type (Umbilical Cord Stem Cell, Adult Stem Cell, Embryonic Stem Cell), By Service Type (Collection and Transportation, Processing, Analysis, Storage), By Application (Leukemia, Diabetes, Lymphoma, Cerebral Palsy, Thalassemia, Others), By Geography (North America, Latin America, Europe, Asia Pacific, Middle East & Africa)

Published In : May 2024

Code : CMI1354

Pages :148

Formats :

Excel and PDF

Industry : Biotechnology

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Market Challenge – High Cost of the Stem Cell Banking

The high cost of stem cell banking is expected to hamper the growth of the global stem cell banking market over the forecast period. Stem cell preservation services are expensive and everyone cannot afford them. For instance, Americord Registry LLC, a private cord blood bank, announced that it typically charges between US$ 3,299 and US$ 6,599 for cord blood to be collected and stored for a period of 20 Years.

Market Opportunity – Growing Technological Advancements in Stem Cell Research

Advancements in stem cell research technologies are opening exciting new possibilities and promise hope for new therapies that could treat many incurable diseases. With recent breakthroughs, researchers are now able to direct stem cells to become specific cell types much more efficiently. This targeted differentiation ability allows scientists to create functional cell types like heart, nerve and pancreatic cells that could potentially replace those lost to injury or disease. Robust characterization techniques also allow detailed analysis of stem cell properties, improving quality control and helping maximize their therapeutic potential.