Global Stem Cell/Cord Blood Banking Market
Dublin, April 19, 2022 (GLOBE NEWSWIRE) -- The "Stem Cell/Cord Blood Banking Global Market Report 2022, By Cell Type, By Service, By Bank Type, By Application" report has been added to ResearchAndMarkets.com's offering.
The global stem cell/cord blood banking market is expected to grow from $9.38 billion in 2021 to $10.23 billion in 2022 at a CAGR of 9%. The market is expected to reach $14.44 billion in 2026 at a CAGR of 9%.
Increasing number of cancer patients is a major driver for the stem cell /cord blood banking market. Cancer diseases such as leukemia and multiple myeloma can be treated by stem cell transplant. In stem cell transplant, treatment can be either done by autologous transplant in which the stem cells come from the same person who gets the transplant or by allogeneic transplant in which means the stem cells come from a matched related or unrelated donor. By using stem cells in the treatment of cancer, the blood forming stem cells which are damaged during chemotherapy can be restored. According to the American Cancer Society, in 2019, around 606,880 deaths were caused in USA due to prevalence of the cancer which can be treated by transplanting the stem cells.
Lack of awareness especially among pregnant women is a major restraint for the stem cell/cord blood banking market. This is mainly because a majority of pregnant women are unaware of the functioning of the public cord blood banks. Hence, this option is not fully explored despite the advantages of stem cell transplantation in treating cancer. For example, according to the survey by International Journal of Reproduction, Contraception, Obstetrics and Gynecology only 45% of pregnant women were informed about the uses of umbilical cord blood during pregnancy, just 5% were aware about the cost of the procedure and less than 1% were aware about the availability of cord blood banking.
Pairing of cord blood and tissue storage with genetic testing services is an emerging trend in the stem cell/cord blood banking market. Such pairing is possible and efficient because of its complimentary services to the existing clients, thereby helping in expanding their product portfolio. For example, genetic testing company Natera launched the Evercord cord blood and tissue storage service that enables expectant parents to collect, store and potentially retrieve their newborn's cord blood and tissue for therapeutic use in transplantation and regenerative medicine applications.
The US Food and Drug Administration (FDA) outlines guidance related to stem cells/cord blood banking in accordance with section 212 of the Small Business Regulatory Enforcement Fairness Act (Public Law 104-121). As per this act, stem cells sourced from cord blood for unrelated allogeneic use are regulated by the FDA, and, in order to distribute these products, distributors need to get a license from the FDA. These licenses are provided by the FDA after reviewing the manufacturing and the storage conditions. In this regard, the American Association of Blood Banks and other regulatory agencies also work with the FDA. Hence, the regulatory scenario related to the stem cells/cord blood banking market is expected to keep a check on companies involved in this market.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market.
It traces the market's historic and forecast market growth by geography.
The Market Characteristics section of the report defines and explains the market.
The market size section gives the market size ($b) covering both the historic growth of the market, the impact of the COVID-19 virus and forecasting its recovery.
Market segmentations break down market into sub markets.
The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth.
It covers the impact and recovery trajectory of COVID-19 for all regions, key developed countries and major emerging markets.
Competitive landscape gives a description of the competitive nature of the market, market shares, and a description of the leading companies.
Key financial deals which have shaped the market in recent years are identified.
The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.
1) By Cell Type: Adult Stem Cells; Umbilical Cord Blood Stem Cells; Embryonic Stem Cells
2) By Service: Collection; Processing; Analysis; Storage
3) By Bank Type: Public; Private
4) By Application: Leukemia; Anemia; Thalassemia; Autism; Cerebral Palsy; Diabetes; Others
Data Segmentations: country and regional historic and forecast data, market share of competitors, market segments.
Americord Registry LLC
China Cord Blood Corporation
Cordlife Group Limited
Smart Cells International
Thermo Fisher Scientific
Cord Blood America Inc.
Brainstorm Cell Therapeutics
For more information about this report visit https://www.researchandmarkets.com/r/ql7d7y
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