From Setbacks to Breakthroughs: Will Stem Cell Banking Market Beat the Odds and Reach Double-Digit CAGR? – Ken Research

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The Global Stem Cell Banking market has experienced a consistent upward trajectory in its market size from 2017 to 2022. However, the onset of the COVID-19 pandemic brought forth unprecedented challenges, disrupting the steady growth. The stringent restrictions, both domestic and international, along with the implementation of necessary guidelines, necessitated additional measures to ensure the secure collection of stem cells from both patients and donors. Consequently, the overall stem cell banking market witnessed a decline during this period. The question that arises now is how the table will turn for the market and whether it can sustain its growth in the future. To uncover the potential solutions and strategies that will enable the market to bounce back and thrive, delve into the complete story.

1. COVID-19 had a negative impact on the market of stem cell banking owing to worldwide lockdown and restrictions on logistics and transportation facilities

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1.1. Additionally, the Presence of unapproved stem cells, maintaining high quality, socio-ethical concerns, and dearth of skilled professionals are some other Key challenges of the market

2. However, the Application of AI, modernization in stem cell storage, increasing approvals, and rising number of start-ups have helped the sector sail through the hard times

3. Presently, increase in research and development, advancement in regenerative medicines, and rising investment are key growth drivers of the Global Stem Cell Banking market

4. Also, an increasing number of clinical trials coupled with approval of stem cell-based therapies from regulatory bodies will further help the Global Stem Cell Banking market to touch double-digit in the future

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Stem Cell Banking Market

Global Stem Cell Banking Market Surpasses USD 15 Bn by 2027: A Result of Flexible Guidelines and Increasing R&D and Investments. What Awaits the Future of Stem Cell Banking? : Ken Research

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1. Enhancing Global Stem Cell Market: The International Society for Stem Cell Research Proposes Standards for Research Reproducibility Across Laboratories and Cell Lines.

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The ISSCR Guidelines address the international diversity of cultural, political, legal, and ethical issues associated with stem cell research and its translation to medicine. The guidelines were updated in 2021 which include new recommendations to address the recent scientific advances involving embryos, stem cell-based embryo models, chimeras, organoids, and genome editing.

National and international repositories should accept deposits of newly derived stem cell lines to preserve them, maintain them to a high standard, and ensure their authenticity. Repositories are encouraged to distribute them internationally to enable their dissemination. Researchers are encouraged to deposit data on stem cell lines into registries.  

2. Driving Forces Behind the Global Stem Cell Banking Market: Research & Development, Regenerative Medicine Advancements, and Increased Investments.

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• Global share of deaths due to NCDs are increasing every year. For instance, in 2022 total number of deaths due to NCDs reached ~41 Mn, equivalent to 74% of all deaths globally. Stem cells can be cultured and developed into new tissue that can be used in regenerative medicine and transplantation.
• Certain types of stem cells can be utilized by researchers to test the safety and quality of investigational drugs prior to their use in human trials.
• CIRM is the leading financial supporter of stem cell research apart from the NIH. It offers funding for research, development, translational and clinical trials.
• There is a continuous increase in R&D and clinical trials for stem cells and gene therapy.

3. The Impact of COVID-19 on the Global Stem Cell Banking Market: Worldwide Lockdown and Logistics Restrictions Hamper Growth.

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• The French Cord Blood Bank (CBB) Network collected 4,392 umbilical cord blood (UCB) units in 2020, a decrease from 7,989 units collected in 2019.
• The global healthcare services have been significantly impacted by COVID-19 pandemic. Stem cell transplantation, a preferred treatment for various diseases, requires continuous operation of stem cell collection facilities while implementing safety protocols.
• However, the implementation of COVID-19 restrictions and adherence to national and international guidelines necessitated additional measures to ensure the secure collection of stem cells from both patients and donors. Consequently, the overall stem cell banking market experienced a decline.