According to a new report published by Reports Monitor titled, “Stem Cell Banking Market by type, by bank type, and by Application: Global Opportunity Analysis and Industry Forecast, 2017–2025,” the Stem Cell Banking market was valued at XX million in 2016, and is projected to reach at XX million by 2025, growing at a CAGR of XX% from 2017 to 2025. Europe dominates the Stem Cell Banking market
, both in terms of volume and value, and is expected to maintain this trend throughout the forecast period.
Rising demand of personalized medicine to achieved effective and precise medication is one of the major applications of stem cell driving growth to this market.
Ability of stem cell to heal life threatening diseases such as leukemia and lymphomas and reconstitution of tissue and organ are some of the major advantages of the stem cell storage.
Proved benefits such as minimum risk of immune rejection, limited need for anti-rejection drugs and no requirement of stem cell donor are some of the responsible factors driving growth of the stem cell banking market.
This practice is very expensive and led to create affordability issue due to this penetration is restricted and this can act as restrains to the growth of the market.
Lack of awareness about stem cell banking and its advantages is the major challenge to this market.
• Cord blood holds higher market share over cord tissue as it has potential and proved application.
• Private blood bank is still most proffered storage option in this market.
• North America dominates the market owing developed healthcare infrastructure and awareness of potential application among the people.
• Asia Pacific is expected to grow at higher rate due to increased in awareness and disposal income.
The major companies profiled in the report include Esperite, Caladrius Biosciences, Via Cord, CBR Systems, Smart Cells, Life Cell, China Cord Blood, Cryo-Cell, StemCyte, Cordvida, ViaCord, Cryoviva, and other niche players.
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