Stem cells are the cornerstone of the immune system and blood. They have the ability to transform into other types of cells, help repair tissues, organs and blood vessels, and are used to treat various diseases. The regenerative ability of stem cells has led to the development of various treatments to cure various diseases as well as genetic and autoimmune diseases. In addition, with the advancement of regenerative medicine, people of all ages can benefit from stem cell therapy in the near future. This is expected to promote growth of the global stem cell banking market. Due to the growing awareness of the importance of stem cell therapy, the increasing number of clinical trials of stem cell-based products and the increase in research grants and public and private funds for the development of new therapies, the global stem cell banking market is expected to gain great appeal.
The global stem cell banking market had a market valuation of US$ 1,634.7 million in 2016 and is anticipated to grow at a CAGR of 18.9 percent during the forecast period (2017-2025).
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The huge potential of cord blood and tissue in treating patients with autoimmune diseases is expected to drive market growth. In addition, currently available immunosuppressants, such as steroids, despite temporary improvements, still cause long-term side effects. According to Health Research Funding, in 2015, about 28% of cord blood transplants were used to treat genetic diseases. The most common treatment for genetic diseases was severe combined immunodeficiency, followed by aplastic anemia.
The growing awareness of the importance of stem cell preservation and the treatment of life-threatening diseases has led to a growing demand for stem cell collection and preservation technologies, thus promoting market growth.
The Asia Pacific region is expected to witness significant growth in the global stem cell banking market during the forecast period. This is due to the increase in the birth rate, added to the increase in the prevalence of congenital defects, and the option to pay in monthly installments, making it available to many people. According to a survey conducted by Save the Children in India in 2012, India’s birth rate is growing rapidly at a rate of 26 million per year, contributing to the growth of the market. According to a multicenter study, in 2013, approximately 10,000-15,000 babies in India were diagnosed with thalassemia and sickle cell anemia, indicating a high demand for stem cell banks.
The high cost of stem cell banks is a major obstacle in the growth of the global stem cell banking market. Stem cell preservation services are expensive, and not everyone can afford them.
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Stem cell research programs that support personalized medicine to accelerate market growth. The advantage of the stem cell bank is that it can be used at any time when needed and does not need to closely match the bone marrow. According to the Health Research Funding Organization, in 2015, the survival rate of children who received matched cord blood was 20% higher than that of children who received matched bone marrow. Government organizations provide support for cord blood stem cell research and clinical trials. Healthcare companies are increasingly focusing on investing in the research and commercialization of cord blood stem cell therapies, thus promoting the growth of the global stem cell banking market in the near future.
The International Stem Cell Forum (ISCF) was established to foster international cooperation and provide funding for stem cell research. ISCF’s goal is to promote global good practices and accelerate progress in the field of stem cell research. The UK Stem Cell Bank (UKSCB) provides international resources for stem cell research by providing human stem cell lines to research and develop stem cell lines for clinical purposes. It also launched an active research program in cooperation with academic institutions.
Key companies contributing in the global stem cell banking market include SciVision Biotech Inc., Merz Pharma GmbH & Co. KGaA., Integra LifeSciences Corporation, Galderma S.A., Allergan, Plc., Anika Therapeutics, Inc., Valeant Pharmaceuticals International, Inc., Suneva Medical, Sanofi S.A., and Sinclair Pharma Plc.
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Table of Content
Global Stem Cell Banking Market Research Report
Section 1: Global Stem Cell Banking Industry Overview
Section 2: Global Economic Impact on Stem Cell Banking Industry
Section 3: Global Market Competition by Industry Producers
Section 4: Global Productions, Revenue (Value), according to Regions
Section 5: Global Supplies (Production), Consumption, Export, Import, geographically
Section 6: Global Productions, Revenue (Value), Price Trend, Product Type
Section 7: Global Market Analysis, on the basis of Application
Section 8: Stem Cell Banking Market Pricing Analysis
Section 9: Market Chain, Sourcing Strategy and Downstream Buyers
Section 10: Strategies and key policies by Distributors/Suppliers/Traders
Section 11: Key Marketing Strategy Analysis, by Market Vendors
Section 12: Market Effect Factors Analysis
Section 13: Global Stem Cell Banking Market Forecast
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