Portland, OR, March 06, 2019 (GLOBE NEWSWIRE) -- As per the findings of the report, the Global Stem Cell Banking Market was valued at $1,986 million in 2016 and is projected to garner $6,956 million by 2023. The industry is anticipated to grow at a CAGR of 19.5% during the forecast period, 2017-2023. The report divulges information about the rigorous research methodologies adopted to acquire data. The data presented in the report is the result of extensive primary and secondary research of the market carried out by research analysts and with crucial inputs from core industry experts.
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The increase in R&D activities regarding applications of stem cells, rise in number of births occurring globally, and surge in prevalence of fatal chronic diseases help to boost the growth of the market. The growth in GDP along with increase in the disposable income worldwide also help increase the number of stem cell units stored globally. However, lack of acceptance and awareness in the developing regions, and legal and ethical issues related to stem cell collections are the factors expected to hinder the market growth.
The Global Stem Cell Banking Market is segmented based on cell type, bank type, service type, utilization, and region. Based on cell type, the market is classified into umbilical cord stem cells, adult stem cells, and embryonic stem cells. Depending on bank type, it is bifurcated into public and private. By service type, it is categorized into collection & transportation, processing, analysis, and storage. By utilization, it is classified into used and unused. Based on region, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The key players operating in the global stem cell banking market include Cord Blood Registry, ViaCord, Cryo-Cell, China Cord Blood Corporation, Cryo-Save, New York Cord Blood Program, CordVida, Americord, CryoHoldco, and Vita34.
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Other prominent players in the value chain include Caladrius Biosciences, Cryoviva, Smart Cells International Ltd., Stemade Biotech, Cytori Therapeutics, Cellular Dynamics International, PerkinElmer, and Reelabs.
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