(PharmaNewsWire.Com, January 22, 2018 ) According to Publisher, the Global Stem Cell Banking Market is accounted for $1.68 billion in 2016 and is expected to reach $5.61 billion by 2023 growing at a CAGR of 18.8% during the forecast period. Growing number of newborns, increasing usage of stem cells in disorder treatment and rising disposable income are some of the factors fueling the market growth. However, huge operating price and regulatory changes are some of the factors hampering the market. Rising awareness about potential use of cord tissue and the automation of procedures are creating opportunities for vendors in the market.
Stem cell banking is one of the most happening markets in the field of life sciences. A stem cell bank is a service that preserves stem cells for the treatment of life threatening diseases in the future. Stem cells are stored at temperatures much below the freezing point. Stem cells are undifferentiated biological cells that can distinguish into specialized cells, tissue, or an organ. The process of storing these stem cells for the treatment of life threatening diseases in the future is called stem cell banking. Stem cells have the potential to differentiate into various types of cells in the body.
The demand for stem cells from cord blood is increasing as they are useful for the treatment of blood-related diseases and disorders. Collection and transportation services are gaining interest as these services are helpful in providing the quality of unit of the stem cell to be released or transplanted. North America has acquired largest market share due to the availability of federal funding for stem cell research, increasing demand for private banks in U.S region, FDA-approved clinical trials provided safety use of stem cell therapies.
Some of the key players in global stem cell banking market include RMS Regrow, International Stem Cell Corporation, Jeevan Blood Bank Research Center, Cordvida, Cytori Therapeutics, Inc, BrainStorm Cell Therapeutics, Cellular Dynamics International, Cryo Stemcell, StemOne Biologicals, Gamida Cell, ReNeuron Group, CordCare, ReeLabs, RhinoCyte, Inc., Medistem Inc, Arteriocyte.
Regions Covered: -North America -US -Canada -Mexico -Europe -Germany -UK -Italy -France -Spain -Rest of Europe -Asia Pacific -Japan -China -India -Australia -New Zealand -South Korea -Rest of Asia Pacific -South America -Argentina -Brazil -Chile -Rest of South America -Middle East & Africa -Saudi Arabia -UAE -Qatar -South Africa -Rest of Middle East & Africa
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