(MENAFN- Zion Market Research) Zion Market Research has published a new report titled 'Stem Cell Banking Market by Source (PSCs, hESCs, BMSCs, ADSCs, and Others), by Application (Personalized Banking, Clinical, and Research), and by Service Type (Sample Collection & Transportation, Sample Processing, Sample Analysis, and Sample Preservation & Storage): Global Industry Perspective, Comprehensive Analysis, and Forecast, 20182025. According to the report, the global stem cell banking marketwas approximately USD 6.68 billion in 2018 and is expected to generate around USD 13.36 billion by 2025, at a CAGR of around 10.4% between 2019 and 2025.
Stem cells are cells that can differentiate themselves into different cells of varied organs and tissues. The stem cell banking process involves the storage of different kinds of stem cells for clinical and research applications. The growing prevalence of chronic diseases, such as cancer, increasing number of research activities that use of stem cells in therapeutics, rising number of government initiatives, and augmenting a number of stem cell banks are some major factors fueling the growth of the global stem cell banking market.
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The global stem cell banking market is divided into the source, application, and service type. The stem cell banking market is divided on the basis of application into clinical (hematopoietic disorders, autoimmune disorders, and others), personalized banking, and research. Research application is further divided into life science research, disease treatment studies, and drug discovery. Personalized banking applications dominated the stem cell banking market in 2018 globally, owing to the superior priced service plans of various service providers. Based on source, the market is fragmented into BMSCs (bone marrow), PSCs (placental), ADSCs (adipose tissue), hESCs (human embryo), and others. PSCs are projected to dominate the market in the future, owing to the growing establishment of placental and cord stem cells banks in developed countries of North America and Europe. Based on service type, the stem cell banking market includes sample processing, sample collection and transportation, sample preservation and storage, and sample analysis. Based on service type, stem cell banking is segmented as sample analysis, sample processing, sample collection & transportation, and sample preservation & storage. The sample preservation and storage segment is expected to dominate the global market for stem cells.
The North American stem cell banking market dominated the globally in 2018, owing to the early introduction of highly developed equipment for research activities, the presence of highly skilled workforce, and an increase in the number of projects that use stem cell for treating chronic diseases. Asia Pacific is anticipated to show the highest year-to-year growth in the upcoming years in the global stem cell banking market, due to the rising investments made by governments and renowned companies for R & D, growing awareness about the benefits of stem cells, and technological advancements related to research and development.
Some major players of the global stem cell banking market are Cord Blood Registry (CBR) Systems, Cordlife Group Limited, Cryo-Cell International, ViaCord, Cryo-Save, LifeCell International, StemCyte, Global Cord Blood Corporation, Vita34, Smart Cells International, and CryoHoldco.
This report segments the global stem cell banking market into:
Global Stem Cell Banking Market: Source Analysis
- Placental Stem Cells (PSCs)
- Human Embryo-Derived Stem Cells (hESCs)
- Bone Marrow-Derived Stem Cells (BMSCs)
- Adipose Tissue-Derived Stem Cells (ADSCs)
- Others
Global Stem Cell Banking Market: Application Analysis
- Personalized Banking
- Clinical
- Hematopoietic Disorders
- Autoimmune Disorders
- Others
- Research
- Disease Treatment Studies
- Life Science Research
- Drug Discovery
Global Stem Cell Banking Market: Service Type Analysis
- Sample Collection and Transportation
- Sample Processing
- Sample Analysis
- Sample Preservation and Storage
Global Stem Cell Banking Market: Regional Analysis
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
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