April 24, 2024
Stem Cell Banking Market

Stem Cell Banking Market Experiences Growth Owing To Rising Focus On Regenerative Medicine

The global stem cell banking market is primarily driven by the growing prevalence of chronic diseases. Stem cells have potential therapeutic applications across various diseases including cancers, neurodegenerative diseases, autoimmune diseases, and cardiovascular diseases. Stem cells can potentially regenerate into different types of cells in the body and aid tissue regeneration. The advantages of preserving stem cells include easy accessibility of cells if needed for future treatment, avoidance of additional bone marrow donations or extractions, and safe and ethical storage of cells.

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 from 2024 to 2030.

Key Takeaways

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.

Growing demand: There is a growing demand for stem cell banking, especially in developed countries due to the increasing prevalence of chronic diseases. The advantages of stem cell preservation is encouraging more individuals to opt for stem cell banking for future therapeutic use.

Global expansion: Key players in the market are focused on expansion plans to increase their geographic footprint and tap the potential in developing markets. Companies are undertaking mergers and acquisitions, partnerships and collaborations to establish stem cell banks across major countries worldwide.

Market key trends

Advances in cord blood banking is a key trend in the Global Stem Cell Banking Market Share. Umbilical cord blood is a rich source of stem cells and banks offer storage of cord blood post childbirth for future therapeutic use if required. Cord blood banking is gaining traction as it ensures readily availability of the individual’s own stem cells for therapy unlike adult stem cells which requires extracting from bone marrow or fat tissues.

Porter’s Analysis

Threat of new entrants: Low barriers to entry as regulations are still evolving but significant investment required in infrastructure and skilled employees.

Bargaining power of buyers: Individual customers have low bargaining power but large healthcare organizations and governments can negotiate better pricing and contracts.

Bargaining power of suppliers: A few major suppliers for key infrastructure and equipment which gives them higher bargaining power.

Threat of new substitutes: Emerging alternatives in stem cell therapeutics and regenerative medicine pose competition over longer term.

Competitive rivalry: Intense competition among established players to expand market share through new technologies, quality services and geographic expansion.

Geographical Regions

North America accounts for the largest market share currently due to supportive regulatory environment and high patient awareness. Availability of advanced healthcare facilities and private banking also contributes to high demand.

Asia Pacific is poised to be the fastest growing regional market in the forecast period with countries like China, India and Japan emerging as major hubs of stem cell research and clinical trials. Increasing healthcare investments, favorable regulations and large patient pools will drive substantial future growth from the region.

Asia Pacific region captured nearly one-third of the total stem cell banking market share in 2024. Countries like China, India and Japan are emerging as major research and clinical hubs which is attracting global market players to tap into future opportunities. Rising incomes, awareness and investments in healthcare infrastructure are fueling strong demand growth trends.

*Note:
1.      Source: Coherent Market Insights, Public sources, Desk research
2.      We have leveraged AI tools to mine information and compile it