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Report Overview
2023
Base Year
2017-2023
Historical Year
2024-2032
Forecast Year
Global Stem Cell Banking Market Outlook
The global stem cell banking market value was USD 6.21 billion in 2023, driven by the increasing cases of chronic diseases, improving healthcare infrastructure, increasing geriatric population, and the rising disposable incomes. The market size is anticipated to grow at a CAGR of 17.2% during the forecast period of 2024-2032 to achieve a value of USD 25.92 billion by 2032.
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Increasing Demand for Adult Stem Cells to Augment the Stem Cell Banking Industry Growth
Based on product type, the adult stem cells segment accounts for a significant share in the industry. This can be attributed to the advantages offered by adult stem cells like their ability to repair damaged tissues through cell division, high acceptance in the human body and effectiveness in tissue generation, and ease of harvesting, among others.
North America Dominates the Stem Cell Banking Industry Globally
Geographically, North America leads the global market for stem cell banking. This can be attributed to the presence of advanced medical infrastructure and the increased government funding for stem cell research in the region. Additionally, the increased consumer awareness regarding the therapeutic benefits of stem cells is further aiding the market growth in the region. Meanwhile, the Asia Pacific is expected to witness a robust growth in the forecast period owing to the growing research activities in the region, coupled with the presence of a large pool of patient.
Stem Cell Banking: Market Segmentation
Stem cells refer to the highly specialised body cells that serve as a foundation for organ and tissues in the body. The properties of stem cells like self-renovation and differentiation make them different from other cells of the body. They can be found in the bone marrow, umbilical cord, embryo, and placenta. Stem cell banks are used to preserve these cells for potential future use in applications like regenerative medicine, gene therapy, and tissue engineering, among others. Stem cell banking is considered one of the most promising segments of the next-generation stem cell therapy.
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By service type, the market is divided into:
- Sample Preservation and Storage
- Sample Analysis
- Sample Processing
- Sample Collection and Transportation
- Others
Based on product type, the industry can be segmented into:
- Human Embryonic Cells
- Adult Stem Cells
- IPS Cells
- Others
The market is bifurcated based on utilisation into:
- Used
- Unused
By bank type, the industry can be broadly categorised into:
- Public
- Private
On the basis of application, the industry can be segmented into:
- Clinical
- Personalised Banking
- Research
- Others
The regional markets for the product include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
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Advancements in Medical Science and the Rising Prevalence of Chronic Diseases to Bolster the Growth of the Stem Cell Banking Industry
The advancements in the field of medicine and the development of novel technologies for preservation, processing, and storage of stem cells are driving the growth of the stem cell banking industry. Moreover, increasing cases of chronic diseases around the globe is resulting in increased demand for advanced medical technologies, which is further contributing to the industry growth. Other factors like the improving healthcare infrastructure, increasing geriatric population, and the rising disposable incomes are also favouring the market growth.
Over the forecast period, increasing R&D activities and the growing government initiatives to instill awareness about the therapeutic potentials of stem cells are expected to further accelerate the market growth.
Key Industry Players in the Global Stem Cell Banking Market
The report gives a detailed analysis of the following key players in the global stem cell banking market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:
- Cryo-Cell International, Inc.
- Smart Cells International Ltd.
- CSG-BIO Company, Inc.
- CBR Systems Inc.
- ViaCord, LLC
- LifeCell International Pvt. Ltd.
- Others
The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2017-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Source |
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| Breakup by Product |
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| Breakup by Bank Type |
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| Breakup by Services Type |
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| Breakup by Utilization |
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| Breakup by Applications |
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| Breakup by Region |
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| Market Dynamics |
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| Supplier Landscape |
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| Companies Covered |
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| Report Price and Purchase Option | Explore our purchase options that are best suited to your resources and industry needs. |
| Delivery Format | Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option. |
Stem Cell Banking Market Report Snapshots
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
The global market for stem cell banking attained a value of USD 6.21 billion in 2023.
The market is anticipated to grow at a CAGR of 17.2% during the forecast period of 2024-2032 to reach a value of USD 25.92 billion by 2032.
The major drivers of the market include increasing cases of chronic diseases, improving healthcare infrastructure, increasing geriatric population, and the rising disposable incomes.
Growing emphasis on research and development by key players and the growing government initiatives to instil awareness about the therapeutic potentials of stem cells are the key industry trends propelling the growth of the market.
The major regions in the industry are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific, with the North America accounting for the largest share.
The service types include sample preservation and storage, sample analysis, sample processing, sample collection and transportation, among others.
Adult stem cells are the largest product type segments of stem cell banking.
The segments based on utilisation are used and unused.
The bank types of stem cell banking are public and private.
The diverse applications for market are clinical, personalised banking, and research, among others.
The major players in the industry are Cryo-Cell International, Inc., Smart Cells International Ltd., CSG-BIO Company, Inc., CBR Systems Inc., ViaCord, LLC, and LifeCell International Pvt. Ltd. among others.
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