by Stem cell banking involves collection, processing and storage of stem cells from various sources like umbilical cord, placenta, adipose tissue and bone marrow for future therapeutic purpose. Stem cells offer immense clinical potential in the field of regenerative medicine and can be used for treating chronic diseases like cancer, diabetes, cardiovascular diseases and muscular dystrophy. With increasing prevalence of lifestyle diseases globally, demand for stem cell therapies is continuously rising.
The global stem cell banking market is estimated to be valued at US$ 534.81 billion in 2024 and is expected to exhibit a CAGR of 5.4% over the forecast period 2024 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
Public cord blood banking dominates the market- Public cord blood banks store umbilical cord blood stem cell units donated by mothers and make them available for anyone in need of a transplant without consideration of human leukocyte antigen tissue matching. These banks have emerged as a rich source for finding suitable stem cell grafts for patients lacking otherwise available stem cell transplant donors. Growing emphasis on public donation is expected to significantly drive the public cord blood banking segment over the forecast period.
Porter’s Analysis
Threat of new entrants: The threat of new entrants in the stem cell banking market is moderate as initial large investments are required in setting up stem cell banking infrastructure. However, market players are focusing on strategic collaborations and partnerships to expand their customer base.
Bargaining power of buyers: The bargaining power of buyers is high as customers can switch between various market players offering stem cell banking services based on price competitiveness and service offerings.
Bargaining power of suppliers: The bargaining power of suppliers is moderate as key materials required in stem cell banking such as sample collection kits, cryo-preservation equipment are available from multiple specialized suppliers.
Threat of new substitutes: The threat of substitutes is low as there are limited alternatives available to stem cell banking for long-term storage of stem cells.
Competitive rivalry: The competition in the stem cell banking market is high among existing players investing in new technologies and expansion to emerging regions.
Key Takeaways
The Global Stem Cell Banking Market Size is expected to witness high growth.
Regional analysis: North America is expected to dominate the global stem cell banking market during the forecast period owing to rising awareness about stem cell therapies and presence of major market players in the region. Asia Pacific is anticipated to grow at the fastest pace due to increasing investments by both private and public sectors in stem cell research in countries such as China and India.
Key players: Key players operating in the stem cell banking market are CM Fine Chemica, Cryo-Save AG, ViaCord, Global Cord Blood, CordLife, Americord, Cryo-Cell, LifeCell, and Stemexpress. CM Fine Chemica focuses on expanding its presence in developing markets through strategic partnerships.
Ravina Pandya, Content Writer, has a strong foothold in the market research industry. She specializes in writing well-researched articles from different industries, including food and beverages, information and technology, healthcare, chemical and materials, etc. With an MBA in E-commerce, she has an expertise in SEO-optimized content that resonates with industry professionals.
