The Stem Cell Banking Market is expected to grow at a CAGR of XX% to reach a market value of USD XX million by 2026.
Stem cells are undifferentiated cells which can self-renew indefinitely through cell division. These cells can also be distinguished into more mature cells with specific functions.
The market for the stem cell banking market is primarily driven by the growing awareness of the therapeutic potential of stem cells. Other factors aiding the market growth are the advancements in novel technologies for stem cell preservation, processing, and storage. However, the high operational costs of stem cell banking and legal and ethical issues during the collection of stem cells along with stringent regulatory frameworks and lack of acceptance and awareness may hinder the market progress.
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