The stem cells are undistinguishable biological cells
that can differentiate into particular cells, tissue or an organ. Nearly 500
stem cell banks are performing across the globe, and every bank is now
struggling harder to rise their market share. Whereas, the procedure of keeping
these stem cells for the treatment of life threatening diseases in the future
is called stem cell banking. The stem cell banking has applications in cerebral
palsy, diabetes, thalassemia, leukemia and several others. For instance, the
cerebral palsy controls the main share of nearly quarter of the market share
among the numerous applications. Private stem cell banks are accepting immeasurable
publicizing strategies to develop their product perceptibility among people. Moreover,
the key players of this market are playing an important role by doing
significant developments in the techniques of doing work and enhancement in the
applications of this which further proved to be beneficial for leading the
fastest market growth across the globe during the forecasted period.
According to the report analysis, ‘Global Stem
Cell Banking Market Trends and Drivers, Restraints, and Opportunities 2017-2023’
states that there are several key players which are recently functioning in
this market more efficiently for leading the fastest market growth with the
handsome amount of share across the globe by doing effective investment in the
related research and development programs includes Esperite, Caladrius
Biosciences, Via Cord, CBR Systems, Smart Cells, Life Cell, China Cord Blood,
Cryo-Cell, StemCyte, Cordvida, ViaCord, Cryoviva, and other predominate &
niche players. Moreover, nearby 450 companies is publicizing cord blood banking
services internationally, which indicates intense competition in the market.
Recently, Future Health Biobank, American Cryostem, Adicyte, Adisave, Celltex,
and Vault Stem control around two-thirds of the Mesenchymal Stem Cells (MSC)
storage market. However, at present years, these companies are still unimportant
but are speedily intensifying. Cryostem observed its revenue to around double
in 2016 from USD 400,000 to nearly USD 800,000.
Although, the Stem Cell Banking Market is projected
to observe an effective CAGR of 16.4% during the forecast period of 2017-2023. Moreover,
the global market of stem cell banking is segmented into three major segments
which majorly include namely product types, end-users, and regions. Whereas, on
the basis of region, the market is spread across the globe with the huge amount
of investment in the developments which majorly includes North America, Europe, Asia Pacific, and Rest
of the World (RoW). For instance, North America is set to be the foremost
region for the stem cell banking market growth followed by Europe. Asia Pacific
and RoW are set to be the emerging regions. India, China, and Japan are fixed
to be the most attractive destinations owing to the large untapped market.
The market is fueled by factors such as easy technique
of extraction of stem cells from the samples, accumulative birth rate, augmented
awareness of stem cell therapeutics, and cumulative potentials of stem cell
treatment. Beside this, the partnership among the cord blood banks, growing
investments and funding, and automation of processes for the banking of stem
cells are delivering opportunities for the significant growth of the stem cell
banking market. Therefore, in the near future, it is expected that the
market of stem cell banking will increase across the globe more significantly
over the recent few years.
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Ken Research
Ankur Gupta, Head Marketing & Communications
Sales@kenresearch.com
+91-9015378249
