(MENAFN- EIN Presswire) Stem Cell banking market Size
Stem cell banking market is projected to reach $16,558.4 million by 2030, registering a CAGR of 15.6% from 2021 to 2030.
PORTLAND, OREGON, UNITED STATES, April 25, 2023 /einpresswire.com / -- The stem cell banking market involves the storage of stem cells for potential use in future medical treatments. Stem cells have the ability to develop into various types of cells and tissues in the body, and can potentially be used to treat a variety of diseases and conditions. There are two main types of stem cell banking: cord blood banking and adult stem cell banking. Cord blood banking involves the collection and storage of stem cells found in the blood of a newborn's umbilical cord, while adult stem cell banking involves the collection and storage of stem cells found in various tissues of the body, such as bone marrow.
List of Key Players :
American CryoStem Corporation, Americord Registry LLC, Cordlife Group Limited, Cordlife Group Limited, Cryoholdco De LatinoAmerica, S.A.P.I. DE C.V., StemCyte Cord Blood Bank, Covis Pharma., Global Cord Blood Corporation., Smart cells.and CSG BIO.
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Covid-19 Scenario:
The COVID-19 outbreak is anticipated to have a negative impact on the growth of the stem cell banking market. The spread of COVID-19 led to a major public health issue. Most of the stem cell collection procedures were slowed down to avoid spread of COVID-19 virus. However, clinical trials for application of stem cells for COVID-19 treatment, may contribute to the market growth post pandemic.
The stem cell banking market has seen significant growth in recent years, driven by advancements in stem cell research and the increasing prevalence of diseases and conditions that could potentially be treated with stem cell therapies. However, the market is still relatively new and faces challenges such as high costs and regulatory hurdles.
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