Email
Print
Stem Cell Banking Market Overview
The Stem Cell Banking Market size is estimated to reach $10.7 billion by 2026 and it is poised to grow at a CAGR of 8.1% over the forecast period of 2021-2026. Stem cells have been the most researched topic in the field of science. Stem cells are the body's raw materials and possess the capability to draw themselves into specific blood cells which exhibit specialized functions. Stem cells can be recovered from various methods, such as embryonic stem cells. The cells harvested during in-vitro fertilization and in the count is close to 150. They can be divided into any type of cells, as earlier discussed. Moreover, stem cells can be divided into daughter cells, and daughter cells can further be divided into new stem cells (with self-renewal) properties or can become specialized cells. Stem cell therapy has been a ready source of cure for hematopoietic disorders such as rare genetic disorders, anemia, HIV, and others. The ongoing research in stem cells has the capability to understand how diseases occur, and various conditions develop. Cord tissue banking has been adopted as the potential method to store life-saving stem cells for any future injuries or chronic diseases. The advent of regenerative medicines and the use of stem cells to check quality and safety before releasing a new batch of drugs have been key factors driving the stem cell banking industry forward in the projected period of 2021-2026.
Report Coverage
The report: "Stem Cell Banking Market Forecast
(2021-2026)" by Industry ARC covers an in-depth analysis of the
following segments of the Stem Cell Banking Market.
Key Takeaways
- Geographically, North America's stem cell banking held a dominant market share in the year 2020. It is owing to the advent of various genetic disorders and the rise in the use of regenerative medicines. Additionally, the region is seeing an inflated flow of funds for development pertaining to the pharmaceutical and biotechnology sector which has readily aided the market growth. However, Asia-Pacific is set to grow at a lucrative pace in the projected period. It is owing to the development of new-age start-ups which thereby allows for the opening of various stem cell banking systems using advanced healthcare technology such as IoT.
- The growing awareness pertaining to the use of therapeutic potential stem cells has been a key driver for the market. However, high operational costs and maintenance fees are some of the reasons the market is facing friction and poses a challenge.
- A detailed analysis of strengths, weaknesses, opportunities, and threats will be provided in the stem cell banking market report.
Stem Cell Banking Market- Geography (%) for 2020.
For more details on this report - Request for Sample
Stem Cell Banking Market Segmentation Analysis- By Source
The stem cell banking market based on the source can be further
segmented into Placental Stem Cell, Adipose-Tissue Derived Stem Cells, Bone
Marrow-Derived Stem Cells, Human Embryo Derived Stem Cell, Dental Pulp Derived
Stem Cells and Others. The Bone marrow-derived stem cells held a dominant
market share in the year 2020. It is owing to its standard use in the treatment
of cancer cases such as leukemia, myeloma, and various others. Bone
marrow-derived stem cells are also considered privileged immune cells, as they
do not portray immunogenic properties and hence are used in patients who then
do not need immunosuppression. Moreover, there are close to 4300 bone marrow
and cord blood transplants recorded in 2018, while nearly 23 million potential
donors are available.
However, Human Embryo Stem cells are estimated to be the
fastest-growing, with a CAGR of 8.4% over the forecast period of
2021-2026. The embryonic stem cell is obtained potentially after 3-5 days,
and it has about 150 cells. Moreover, the following pluripotent stem cells have
the capability to divide into more stem cells or become any form of cell. Their
versatility has allowed the researchers to use them in various applications
pertaining to regenerative medicines or to especially regenerate a diseased
tissue or organ.
Stem Cell Banking Market Segmentation Analysis- By Application
The stem cell banking based on the application can be
further segmented into Personalized Banking, Research Applications, and
Clinical Applications. Personalized banking held a dominant market share in the
year 2020. It is owing to the various benefits now being co-offered with availing
services. The service provider has curated various flexible payment plans to
later the financial burden on the end-user. For example, Cord Blood Registry
has payment plans starting from as low as $49/month. Additionally, they have
started promoting themselves under "highest recovery rate- up to 99%",
which readily appeals to the public's confidence, as recovery is often a worry
in cases of stem cell banking.
Moreover, personalized banking is estimated to be the
fastest-growing, with a CAGR of 8.6% over the forecast period of 2021-2026. The
advent of insurance policies in the service provider has proved out to be a
game-changer. Sample banking companies reimburse in cased of failed graft,
however owing to competition, the bankers have really notched up their payback
rates. For example, Ameri-Cord now pays around $110,000 as insurance, with no
monthly storage fees and cancellation fees. The following methodology would
drive the segment forward.
Stem Cell Banking Market Segmentation Analysis- By Geography
The Stem Cell Banking Market based on Geography can be further segmented into North America, Europe, Asia-Pacific, South America, and the Rest of the World. North America's stem cell banking held a dominant market share of 42% as compared to the other regions in 2020. It is owing to the rising cases of cancers and other neurodegenerative diseases in the region. For example, in the U.S., approximately 1.9 million were diagnosed with Cancer; moreover, post-cancer stem cell therapy is often recommended as it helps in restoring the damaged cells. The cells are damaged owing to chemotherapy and other forms. Along with that, the incidence of Parkinson's disease is high in the country, and the ongoing research has helped the market of stem cell banking across various applications.
However, Asia-Pacific is set to offer lucrative market opportunities to marketers in the projected period of 2021-2026. It is owing to a steady rise in the new players opting for facilities such as stem cell banking. Additionally, governmental agencies have supported the start-up culture in the health care domain, which allows for the development of new drugs, which again supports the growth of stem cells. These factors would help in the growth of the following region.
Stem Cell Banking Market Drivers
The use of stem cell therapy or regenerative medicines has readily aided market growth.
Stem cell therapy has often been conferred as the next
chapter after organ transplantation. As they are termed regenerative medicines,
they promote repair response in the diseased cells. The following cells are
used instead of donor’s organs, as they have the potential to provide a healthy
line of cells that are free of any disease or infection. Researchers grow these
cells in their labs and are thereby manipulated to form other forms of
distinctive cells. For example, if a patient is suffering from heart disease,
then they can be used and injected into the heart muscle. The healthy line of
cells could repair the defective heart cells and contribute to a better life
expectancy. Stem cell therapy can readily suffice the demand and supply gap
between organ transplants. For example, the demand for a kidney transplant in
the USA was close to 100,000; however, only close to 20,000 people received the
transplant. The demand for the remaining can be catered by stem cell therapy,
and hence, grow the stem cell banking market.
The lateral increase in auto-immune diseases and the elongated use of stem cells to check for effectiveness in new drugs have readily aided the growth of the market.
Stem cell therapy has shown results in treating those
afflicted with spinal cord injuries, suffering from type 1 diabetes,
Parkinson’s disease, and various other rare diseases. As per Parkinson’s
Organization, approximately more than 60,000 cases of the disease are added in
the USA. Moreover, there are currently more than one million-plus active cases
of the disease in the demography. Researchers are readily studying the use of
stem cell therapy in the treatment of Parkinson’s disease. Stem cells can be
directly injected into the brains of people, and a doctor must make a small
incision and inject stem cells where the neurotransmitter dopamine is found.
The process can take hold and thereby start producing dopamine which is
negligible in the person suffering from Parkinson’s disease. Lastly, the cost
of such treatment would be on the lower side and hence allow more people to
take advantage of it.
Stem Cell Banking Market Challenges
The operational cost pertaining to storage and other facilities has acted as a market challenge.
The stem cells or the embryonic stem cells are often derived
from the umbilical cord. A lot of competition has already been in place for the
market. However, the cost of storing stem cells in a bank remains a primary
concern. The pricing for storing cord tissue or stem cells, on average, can
cost $4000/ a year. Additionally, facilities always face the risk of losing the
sample’s integrity owing to various physical constraints. The reagents,
consumables, and other instruments are charged on premium, which in turn
increases the per-person cost. The process for acquiring licenses has been
another challenge as regulatory bodies follow a stringent approach. Hence, the
number of providers and new entrants are not many, and hence poses a market
challenge.
Stem Cell Banking Market Competitive Landscape
Product launches, mergers and acquisitions, joint ventures,
and geographical expansions are key strategies adopted by players in the stem
cell banking. The top 10- stem cell banking market companies include:
- Cord Blood Registry
- Americord
- CryoCell
- StemCyte
- Viacord
- Lifebank USA
- Miracle Cord
- Maze Cord Blood
- CryoHoldco
- CordLife Group Limited
Stem Cell Banking Market Developments
- In September 2021, The California Institute for Regenerative Medicines awarded $31 million to Stanford Researchers. The amount is granted to study stem cells and conduct the first-in-human trials of stem cells to treat stroke, heart failure, and other forms of neurodegenerative diseases. The $31 million is divided into various other purposes, for example, $12 million would allow for the study, whether after therapy with stem cell one can regain mobility. The second study, in which $ 12 million would be used to study CAR-T cell therapy. Another, $7 million is to be used to study stem cells’ ability to help in aiding heart failures.
- In January 2020, Life-Cell launched community stem cell banking services in India. The enterprise would be known as Baby Cord Share. The purpose of the launch was to allow for the ready availability of finding a matching donor in a challenging environment. The price to avail of the services is kept at INR 17000, while an annual maintenance fee of INR 4,000 would be charged from the customer.