Stem cells have the potential to transform into any tissue or organ in the body. Stem cells can be found in bone marrow, fetal tissues, baby teeth, fat, human embryos, hair follicles, muscle, and circulating blood. However, cord blood is an effective source of stem cells. Stem cells from cord blood are preferred due to various advantages such as efficacy in transplant due to less chances of immune rejection during the transfusion. Numerous applications of stem cells such as treatment in various diseases including cancer have led to increasing demand for stem cell banking. These stem cells are collected from humans and preserved for future use.
The global stem cell banking market is estimated to be valued at US$ 4,483.31 million in 2022 and is expected to exhibit a CAGR of 18.9% during the forecast period (2022-2030).
Figure 1. Global Stem Cell Banking Market Share (%), by Source Type, 2022
Increasing research and development for the treatment of diseases is expected to drive the growth of the global stem cell banking market.
Increasing research and development for the treatment of diseases is expected to propel the market growth. For instance, on May 9, 2022, Xintela, a company that develops medical products in stem cell therapy and targeted cancer therapy, announced the result of study conducted for the company’s stem cell product XSTEM, after injection into a joint with damaged cartilage, and develop into cartilage cells and directly contribute to producing new cartilage tissue. This demonstrates that XSTEM has excellent potential to be a DMOAD (Disease Modifying Osteoarthritis Drug), a treatment that can prevent further degradation of the cartilage in osteoarthritis patients.
|Base Year:||2021||Market Size in 2022:||US$ 4,483.31 Mn|
|Historical Data for:||2017 to 2020||Forecast Period:||2022 to 2030|
|Forecast Period 2022 to 2030 CAGR:||18.9%||2030 Value Projection:||US$ 17,912.71 Mn|
Stem Cyte, Inc., CRYO-CELL INTERNATIONAL, INC., ViaCord, Cord Blood Registry, SmartCells, Inc., LifeCell International Pvt. Ltd., Cryoviva Biotech Pvt. Ltd., Cryo Stemcell, Reliance Life Sciences, and Transcell Biolife Pvt. Ltd.
|Restraints & Challenges:||
Figure 2.Global Stem Cell Banking Market Share (%), by Region, 2022
Increasing inorganic growth activities such as agreements among market players are expected to drive the market growth.
Increasing inorganic growth activities such as agreements among market players are expected to drive the market growth. For instance, on February 25, 2021, Cryo-Cell International, Inc., the private cord blood bank that separates and stores stem cells, entered into a collaborative license agreement with Duke University. The agreement grants Cryo-Cell the rights to proprietary processes and regulatory data related to cord blood and cord tissue developed at Duke. Cryo-Cell plans to explore, test, and administer and these therapies are offered to people with diseases such cerebral palsy, autism, multiple sclerosis, and COVID-19 for which there are not many FDA-approved medicines. These treatments utilize the unique immunomodulatory and potential regenerative properties derived from cord blood and cord tissue.
Global Stem Cell Banking Market – Impact of Coronavirus (COVID-19) Pandemic
Since the COVID-19 outbreak in December 2019, the disease has spread to over 100 countries across the globe and the World Health Organization declared it a public health emergency on January 30, 2020.
The COVID-19 can affect the economy in three main ways: by directly affecting the production and demand of drugs, by creating disruptions in distribution channels, and through its financial impact on firms and financial markets. Due to nationwide lockdowns, several countries such as China, India, Saudi Arabia, the U.A.E., Egypt, and others are facing problems with regard to the transportation of drugs from one place to another.
However, the COVID-19 pandemic had a positive impact on the global stem cell banking market, owing to the increased research and development of stem cell therapy for the COVID-19. For instance, on November 29, 2021, an article published in the Frontiers, a scientific journal, on the study of Stem Cells Therapy for COVID-19 which resulted as the stem cell therapy has shown a remarkable effect on reducing mortality and morbidity of patients with COVID-19. Defining a protocol for stem cell therapy in patients with COVID-19 can lead to achieving the best clinical outcomes for developing the treatment for COVID-19 infection.
Global Stem Cell Banking Market: Key Development
On June 15, 2022, an article published by the Harvard Stem Cell Institute reported the result of a recent study on Engineered Stem Cells Used to Treat Aggressive Brain Cancer. It indicated that researchers have discovered a method for using engineered donor stem cells to successfully treat glioblastoma in mice. The study revealed the presence of special “death receptors” on circulating tumor cells that could be targeted with proteins derived from healthy donor bone marrow cells. In the mouse study, all animals treated with the gel encapsulated stem cell-based therapy lived significantly longer paving the way to future clinical testing for treatment by using stem cells for cancer.
Global Stem Cell Banking Market: Restraint
The high cost of stem cell banking is expected to hamper the growth of the Global Stem Cell Banking Market over the forecast period. Stem cell preservation services are expensive and everyone cannot afford them. For instance, Americord Registry LLC, a private cord blood bank, states that it typically charges between US$ 3,299 and US$ 6,599 for cord blood to be collected and stored for a period of 20 Years.
Major players operating in the global stem cell banking market include Stem Cyte, Inc., CRYO-CELL INTERNATIONAL, INC., ViaCord, Cord Blood Registry, SmartCells, Inc., LifeCell International Pvt. Ltd., Cryoviva Biotech Pvt. Ltd., Cryo Stemcell, Reliance Life Sciences, and Transcell Biolife Pvt. Ltd.
Stem cells are building blocks of the immune system and blood, and they have the ability to develop into other cell types, in order to help in repairing tissues, organs, and blood vessels. They are also used in the treatment of various disease. The ability of stem cells to regenerate has led to the development of various treatments with it, to cure various genetic and auto-immune diseases and disorders. Cord blood stem cells have been used to treat nearly 80 diseases including numerous types of malignancies, anemia, inherited metabolic disorders, and deficiencies of the immune system. Moreover, with the advancement in regenerative medicine, individuals of all ages can benefit from stem cell therapy in the near future. This is expected to augment the market growth. Stem cell banking market is expected to gain significant traction, owing to factors such as rising awareness about the therapeutic importance of stem cells, growing number of clinical trials for products that are stem cell-based, and increasing research grants and public-private funding for the development of novel treatments that are stem cell-based.
Supportive products for stem cell research initiatives are being launched in order to introduce personalized therapy and prevent stem cell transplant side effects. This is expected to accelerate the market growth. For instance, on July 21, 2021, Kadmon Pharmaceuticals, LLC, a biopharmaceutical company has received approval from the U.S. Food and Drug administration (FDA) for Rezurock (belumosudil), a treatment indicated for chronic graft-versus-host disease (cGVHD), a condition caused due to allogeneic stem cell transplantation in adults and children older than 12 years. This acquisition is expected to increase the use of stem cell processing for medical purposes.
Key features of the study:
“*” marked represents similar segmentation in other categories in the respective section.
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