Thursday, 19 July 2018

Stem Cell Banking Market Comprehensive Research Study and Strong Growth in Future 2023

Stem Cell Banking Market
Stem cells are the cells that have the potential to differentiate into various types of cells in the body. Embryonic stem cells and adult stem cells are the two main types of stem cells. Stem cells could possibly be used to generate cells and tissues for therapy of a variety of diseases including Alzheimer's disease, Parkinson's disease, heart disease, spinal cord injury, diabetes, and arthritis. The global stem cell banking market is expected to grow due to the increasing prevalence of such diseases and increasing awareness among people about the need to preserve stem cells. The umbilical cord blood of the newborn is an abundant source of stem cells. 


According to the National Cancer Institute, the incidence of leukemia was 13.7 per 100,000 men and women per year between 2010 to 2014 in the U.S. Therefore, the overall demand for stem cell based therapies and stem cell banking is increasing, which is expected to drive the growth of the global stem cell banking market. National Cancer Institute a part of the National Institutes of Health (NIH), is the principal agency for cancer training and research of the U.S. Federal Government.


The global stem cell banking market is segmented based on bank type, service and application. Based on bank type, the global stem cell banking market is segmented into cord blood and cord tissue. Based on service the stem cell banking market is segmented into storage, collection & transportation, processing and analysis the storage services segment is expected to hold the largest share during the forecast period (2017 – 2023).

North America holds the largest share in the global stem cell banking market since the majority of stem cell banking players are based in the region. The growth in the North American stem cell banking industry is mainly due to the increase in awareness among people regarding stem cell banks.

The Asia-Pacific stem cell banking market is expected to grow at the fastest rate during the forecast period due to the increasing investment by government and development of new technologies, which leads to the growth in the emerging countries such as China, Japan and India.


Some of the major players operating in the stem cell banking market include Cordlife Group Ltd, Cryocell International, Inc., Lifecell International Pvt. Ltd., PerkinElmer, Inc. (Viacord), StemCyte Inc., CryoSave AG, China Cord Blood Corporation, Cord Blood America, Inc., Caladrius Biosciences Inc., CBR Systems, Inc., Cordvida, Cordviva India.



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