Data Bridge Market Research Released “Global Cord Stem Cell Banking Market Research Report 2024”. It contains Company information, geographical Segmentation, in-depth Table of Content, and List of figures, data tables, Various Company Leaders & market synopsis up to 2024.
Global Cord Stem Cell Banking Market Analysis By Storage Type (Private Banking, Public Banking), By Product Type (Cord Blood, Cord Blood & Cord Tissue), By Service Type (Collection & Transportation, Processing, Analysis, Storage), By Source (Umbilical Cord Blood, Bone Marrow, Peripheral Blood Stem, Menstrual Blood), By Indication (Cerebral Palsy, Thalassemia, Leukemia, Diabetes, Autism), By Geography (North America, Europe, Asia-Pacific, South America, Rest of the World) – Industry Trends and Forecast to 2024
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Some of the major players operating in the global cord stem cell banking market are
CBR Systems, Inc., Cordlife, CryoCell, Cryo-Save AG, Lifecell, Stemcyte, Viacord, Smart Cells International, Ltd., Cryoviva India and China Cord Blood Corporation among others.
Umbilical cord blood and cord tissue banking is the process of collecting and storing the cord blood and/or cord tissue with the potential for future medical use. The storage of umbilical cord blood is gaining recognition, owing to the increasing awareness of the importance of stem cells in treating certain life-threatening diseases. Cord blood and tissues are the sources of hematopoietic, mesenchymal, and epithelial cells that find use in many cell-based therapies.
With technological advancement, the collection and storage facilities have improved, which has led to a rise in the cryopreservation of cord blood cells. Factors such as growth in GDP and disposable income with increasing focus and awareness on healthcare, potential usage of stem cells will drive the market for future growth. In addition to this, the growing pharmaceutical industry in Asia is expected to lead to the growth of this market in the coming years.
Bone marrow transplant is an invasive and painful procedure that requires local anesthesia to be administered to the patient. Furthermore, the risk of latent viral infections to the receiver is significantly high. On the other hand, cord blood collection is a safe, easy, and pain-free procedure. Cord blood is a rich source of different types of stem cells such as hematopoietic, mesenchymal, and epithelial which can be used for the treatment of several diseases.
Competative Landscape:
The cord stem cell banking market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. Some examples of recent strategies/developments are: In August, 2015 AMAG Pharmaceuticals, Inc. acquired CBR to expand its business overseas, In June, 2015 Cryo-Cell acquired the assets of Prepacyte-CB cord blood business of CytoMedical Design Group LLC among many others. The report includes market shares of cord stem cell banking market for global, Europe, North America, Asia Pacific and Rest of the World.
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Market Segmantation:
- Based on product type the market is segmented into cord blood and cord blood & cord tissues. In 2016 the market is dominated by the cord blood segment with 63.7% market share in terms of value and is also expected to grow at the highest CAGR of 24.7% in the forecasted period 2016 to 2022.
- On the basis of storage type the global cord stem cell banking market is segmented into public and private storage. In 2016, the public stem cell banks is expected to dominate the market in terms of market volume storage though the private banks is expected to dominate in terms of value. This is owing to the public stem cell banks not charging the customers for storage of stem cell but only charging for extraction which is done by third party agencies.
- On the basis of service type the global cord stem cell banking market is segmented into collection & transportation, processing, analysis and storage. In 2016, the processing segment is expected to dominate the market with 47.3% market share and is expected to grow at a CAGR of 19.3% in the forecast period. The collection and transportation segment is expected to grow at the highest CAGR of 22.3% in the forecast period. However the services may vary very differently across countries owing to private banks charging very differently in different countries.
- Based on Indication the market is segmented into cerebral palsy, thalassemia, autism, type 1 diabetes, anemia, leukemia, and others. Cerebral Palsy (CP) is most commonly described as the loss or impairment of motor skills. The research on treatment of CP with stem cells is in its preliminary stage, while the research on mesenchymal cells has shown a positive effect. Mesenchymal cells can’t develop into brain cells. However, they help to protect damaged cells and prolong their survival by releasing substances that help in the recovery of cells. Though there are 819.8 thousand samples stored still only approximately 8000 units were used. In 2016, cerebral palsy is expected to dominate the market with 24.7% market share.
- On the basis of source the global cord stem cell banking market is segmented into umbilical cord blood, bone marrow, peripheral blood stem and menstrual blood. Among these, umbilical cord is the most preferred source, owing to the high multiplication capability of the umbilical cord stem cells and lesser rejection rate during transplantation. Furthermore, this method of extraction is noninvasive, and the stem cells are not affected by environment contamination.
There are already more than 550 stem cell banks present globally. With the increasing awareness about the potential of the stem cells in the treatment of diseases, the demand for stem cell storage for future use has increased significantly. Thus, several new companies have entered into the market in the recent years leading to high competition in the market. In order to gain competitive advantage companies are focusing on providing better quality and cost-efficient services, research, and marketing. Providing better services at lower cost will facilitate downward pricing strategy leading to loss of revenue to the market. The healthcare industry is already progressing at a highly competitive rate and this leads to fierce competition among the companies in this field leading to having an overall impact on the market size.
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