Stem Cell Banking Market Overview:
The global stem cell banking market report is pointing at a direction where the market would cross a valuation of USD 12056.7 million by 2025 with a CAGR of 9.8% during the forecast period (2019-2025). Market Research Future (MRFR) in their report declared that factors like the inclusion of the technology in providing advanced healthcare opportunities, increasing awareness, better plans for safer healthcare investment, hike in government initiatives, improved preservation technologies, growing competitive strategies, and others would impact the growth of the stem cell banking market.
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MRFR made an in-depth analysis of the global stem cell banking market by segmenting it into cell type, bank type, and application. This report has several insights on these segments that can ensure better planning for the coming days.
By cell type, the global market report on the stem cell banking market can be segmented into adult stem cells, umbilical cord stem cells, and embryonic stem cells. The umbilical cord stem cells segment would generate better market profits.
By bank type, the global report can be segmented into private banks, public banks, and hybrid banks. The private banks segment would dominate the global market. Their service offerings are greater than other formats. The public banks preserve cord blood and it is cost-effective owing to which its takers would rise in the coming years. In Hybrid system, sometimes private banks act with a part of public donations, which ensure better service in terms of cost.
By application, the global report can be segmented into thalassemia, cerebral palsy, diabetes, leukemia, autism, and others. The cerebral palsy segment is expected to generate the maximum revenue.
The Americas has the highest market share as countries like the US and Canada are providing superior structural support to this industry. This is mostly due to the high integration of various research institutes to inspire innovations and better healthcare service. The regional expenditure capacity is also greater than other provinces owing to which this growth would be substantial.
In Europe, countries are making contributions to improve their healthcare sector and provisions for stem cell preservation. Various research institutes are also making substantial progress in securing funds to offer better service, which can boost the market growth. In the Asia Pacific region, hike in disposable income and improving healthcare sectors are expected to boost the market. Also, the global players are looking at the region as a possible expansion opportunity, which would boost the regional prospect.
The stem cell banking companies are expected to make substantial progress with the rising demand for the process and well-formed structure of the stem cell banking industry. These companies are CBR Systems, Inc. (US), Cryo-Cell International, Inc. (US), Cordlife (Singapore), Cryo-Save AG (Netherlands), Global Cord Blood Corporation (Hong Kong), Americord Registry LLC (US), Smart Cells International Ltd. (UK), Celgene Corporation (US), BrainStorm Cell Therapeutics (US), Regrow Biosciences Pvt. Ltd. (India), and others. These companies are expected to make sure that their mergers, acquisitions, product launches, collaborations, and other procedures provide substantial backup to the market growth. MRFR’s listing of these companies would ensure better understanding of how the market is planning to move ahead.
In February 2020, CSG-BIO SA (CSG-BIO) announced a deal with CORDSAVINGS SA where they said that they would take over a part of the stem cells preserved with Cryo-Save AG, a company that recently announced their bankruptcy. This is an effort to save the stem cells that are now lying unprotected in Cryo-Save AG’s vault.
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