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

Stem Cell Banking Market Size and Trends

Global stem cell banking market is estimated to be valued at USD 5.67 Bn in 2024 and is expected to reach USD 14.64 Bn by 2031, exhibiting a compound annual growth rate (CAGR) of 14.5% from 2024 to 2031.

Stem Cell Banking Market Key Factors

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Global stem cell banking market is witnessing growth due to growing awareness about the therapeutic potential of stem cells. Increasing investment by government and private companies in R&D activities for developing novel stem cell therapy and drugs also drives the market growth. Advancements in regenerative medicines using stem cells offer lucrative opportunities for market players. Moreover, rising focus on personalized medicine boosts demand for private and public cord blood banking services.

Increasing Research and Development for the Treatment of Diseases

Increasing research and development for the treatment of diseases is expected to propel the market growth. For instance, on May 9, 2022, Xintela, a company that develops medical products in stem cell therapy and targeted cancer therapy, announced the result of study conducted for the company’s stem cell product XSTEM, after injection into a joint with damaged cartilage, and develop into cartilage cells and directly contribute to producing new cartilage tissue. This demonstrates that XSTEM has excellent potential to be a DMOAD (Disease Modifying Osteoarthritis Drug), a treatment that can prevent further degradation of the cartilage in osteoarthritis patients.

/p>Increasing Inorganic Growth Activities Such as Agreements among Market Players

Increasing inorganic growth activities such as agreements among market players is expected to drive the market growth. For instance, in February 2021, Cryo-Cell International, Inc., a private cord blood bank that separates and stores stem cells, entered into a collaborative license agreement with Duke University, North Carolina, U.S. The agreement grants Cryo-Cell the rights to proprietary processes and regulatory data related to cord blood and cord tissue developed at Duke University. Cryo-Cell plans to explore, test, and administer and these therapies are offered to people with diseases such cerebral palsy, autism, multiple sclerosis, and COVID-19 for which there are not many U.S. FDA-approved medicines. These treatments utilize the unique immunomodulatory and potential regenerative properties derived from cord blood and cord tissue.