The Global stem cell banking market encompasses the collection, processing, cryopreservation and storage of stem cells for future therapeutic interventions such as treatment of cancer, blood disorders, autoimmune diseases and tissue injury. Stem cell banking involves isolation and preservation of stem cells derived from umbilical cord blood, adipose tissue, and dental pulp for long term use. The banking of stem cells provides an ethical and effective treatment option for life threatening conditions by enabling access to one’s own healthy stem cells if the need arises in future. With advancements in regenerative medicine, stem cell banking is gaining prominence as a means to store cells for therapies like bone marrow transplantation and treatment of neurodegenerative conditions.
The global Stem Cell Banking Market is estimated to be valued at US$ 616.11 Mn in 2024 and is expected to exhibit a CAGR of 5.4% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The key trend gaining traction in the stem cell banking market is increasing preference for family stem cell banking. Family stem cell banking involves collection and storage of umbilical cord blood stem cells of a newborn which can be life-saving for the child or other family members in case they develop blood cancer, blood disorders or genetic diseases in future. With rising health awareness, more parents are opting for family cord blood banking for the therapeutic benefits it provides. Further, introduction of innovative practices like dual umbilical cord blood banking where stem cells from two cords are collected and stored for enhanced treatment outcome is boosting market revenues. Initiatives by market players to raise awareness about benefits of stem cell preservation through educational campaigns will further aid the market expansion over the forecast period.
Porter’s Analysis
Threat of new entrants: The Stem Cell Banking market has moderate level of barriers to entry as it requires high initial capital investments and strict government regulations. There is also developed distribution channels and customer loyalty towards established brands.
Bargaining power of buyers: The bargaining power of buyers is moderate as buyers have a lot of choice of stem cell banks but the services offered are differentiated. Switching costs for buyers are low.
Bargaining power of suppliers: Bargaining power of suppliers is low since there are many suppliers for key raw materials used in stem cell banking such as cryovials, liquid nitrogen and storage equipment.
Threat of new substitutes: Threat of substitutes is low as there are currently no perfect substitutes available for cord blood/tissue banking services in the disease treatment space.
Competitive rivalry: Competition in the stem cell banking market is high as companies focus on expanding their storage facilities and service offerings through strategic collaborations and new service launches to gain market share.
Key Takeaways
The Global Stem Cell Banking Market Demand is expected to witness high growth. The global Stem Cell Banking Market is estimated to be valued at US$ 616.11 Mn in 2024 and is expected to exhibit a CAGR of 5.4% over the forecast period 2024 to 2031.
Regional analysis
The Asia Pacific region is dominating the stem cell banking market due to rising disposable incomes, increasing awareness about stem cell therapies and growth in the healthcare sector of emerging economies in the region. China and India have emerged as key hubs for stem cell research activities and clinical trials.
Key players
Key players operating in the Stem Cell Banking market are CM Fine Chemicals GmbH, Hawks Chemical Company, Hebei Yingong New Material Technology Co., Ltd., Heranba Industries Ltd., Jiangsu Dacheng Pharmaceutical and Chemical Co., Ltd., Luyunjia Chemistry Xiamen Limited, Merck KGaA, Mody Chemi-Pharma Limited, RX MARINE INTERNATIONAL, and Yancheng Longsheng Chemical Co., Ltd. These players are focusing on new service launches and strategic collaborations to strengthen their market position.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it