New York, July 27, 2023 (GLOBE NEWSWIRE) -- The global stem cell banking market size is slated to expand at ~11.2% CAGR between 2023 and 2035. The market is poised to garner a revenue of USD 34.2 billion by the end of 2035, up from a revenue of ~USD 9.5 billion in the year 2022. This growth is being driven by the increasing demand for stem cell storage services and the increasing number of stem cell transplantations. Every year, around 60,000 stem cell transplants are performed worldwide. It is estimated that 4,860 unrelated bone marrow transplants and 4,150 related bone marrow transplants were performed in the United States in 2020.
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As stem cell transplants become a more viable treatment option, the need for a secure and reliable source of stem cells has grown exponentially. Stem cell banks provide a safe, reliable way to store and transport stem cells for transplantation, making them essential for the success of these treatments.
Stem Cell Banking Market: Key Takeaways
- Market in North America to propel the highest growth
- The Cord Blood segment to garner the highest growth
- Market in Asia Pacific to grow at the highest rate
Increasing Prevalence Of Blood-Related Disorders To Boost Market Growth
Changing lifestyles, environmental factors, and genetics have contributed to the increase in blood-related conditions such as anemia, bleeding disorders including hemophilia, blood clots, and blood cancers such as leukemia, lymphoma, and myeloma. About 23,709 people died from leukemia in 2023, and 59,609 new cases of all types of leukemia were diagnosed. In addition, anemia affects 40% of children aged 6 to 59 months, 37% of pregnant women, and 30% of women aged 15 to 49 worldwide.
As the prevalence of blood-related disorders continues to increase, stem cell banking has become an invaluable tool for medical professionals to treat these disorders. Stem cells from the placenta and cord blood have the unique ability to develop into any type of blood cell, making them a powerful tool in treating a wide range of blood-related disorders. Stem cells are able to transform into any type of cell in the body, so they can be used to replace damaged or diseased cells, particularly in the treatment of blood disorders such as leukemia and sickle cell disease.
Stem Cell Banking Market: Regional Overview
The global stem cell banking market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa region.
Higher Incidence of Genetic Disease Among Population to Drive the Growth in the North America Region
The stem cell banking market in the North American region is estimated to garner the largest revenue by the end of 2035 to the increasing number of patients suffering from genetic diseases, such as muscular dystrophy, cystic fibrosis, and Huntington's disease, which require stem cell treatments and therapies. About 30,000 people in the United States suffer from cystic fibrosis (CF), one of the most prevalent and fatal genetic diseases. Every year, in the United States, about 3% of babies are born with birth defects. 20% of all infant deaths occur as a result of birth defects.
Stem cell banking provides an opportunity to store stem cells for future use in the treatment of many genetic and reproductive disorders. Stem cell banking allows parents to store healthy stem cells for their children which can be used in the future if they are diagnosed with any of these disorders. Moreover, the region also has a well-established medical infrastructure, providing increased access to sophisticated technologies, such as cryogenic storage and preservation of stem cells.
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Enhanced Effectiveness of Stem Cell Treatment to Drive the Growth in The Asia Pacific Region
The Asia Pacific stem cell banking market is estimated to garner the largest revenue by the end of 2035 owing to the increasing awareness of the medical potential of stem cells and the increasing government investments in research and development related to stem cells. As one of the most preferred international destinations for medical tourism, India has been at the forefront of medical breakthroughs for many years.
Additionally, the development of new treatments and techniques, as well as the increased success rate of stem cell treatment, is expected to drive stem cell banking market growth in the region. According to current statistics, the success rate of stem cell therapy in India ranges between 65% and 85%. As the success rate of stem cell treatments increases, people are more likely to invest in stem cell banking in order to preserve their own cells for potential future treatments. This has created a growing demand for stem cell banking services in the Asia Pacific region.
Stem Cell Banking, Segmentation by Cell Type
- Umbilical Cord Stem Cell
- Cord Blood
- Cord Tissue
- Placenta
- Adult Stem Cell
- Embryonic Stem Cell
The cord blood segment is expected to generate the largest revenue by the end of 2035 due to the increasing awareness of cord blood banking and its advantages, such as its ability to provide a large number of stem cells that can be used in regenerative medicine, as well as its low cost compared to other forms of stem cell banking. Growing awareness about the potential medical applications of cord blood stem cells has led to an increase in cord blood donor registration. Approximately 265,000 cord blood units were registered for donation in the United States. There were more than 114,000 cord blood units included in this figure, and more than 3,000 NCBI units were expected to be added in 2021.
Cord blood stem cells have been found to have potential therapeutic applications in conditions such as leukemia, lymphoma, and other blood-related disorders. Since researchers can use cord blood stem cells to develop treatments for these conditions, more individuals have registered to donate cord blood stem cells.
Stem Cell Banking, Segmentation by Bank Type
- Public
- Private
The private segment is anticipated to hold the largest revenue by the end of 2035 due to the increasing awareness about the potential benefits of stem cell research and the ability to store them for later use. Furthermore, private stem cell banking has gained traction due to its convenience as it allows individuals to store their stem cells in a safe and secure environment. This bank offers a secure way to store private cord blood, meaning that it is collected and stored for use by a family member if needed. This is different from public cord blood banking, which is donated to be used by anyone who needs it. An American organization recommends private cord blood banking specifically for families who are likely to face hereditary illnesses that could possibly be treated by stem cell therapies.
Stem Cell Banking, Segmentation by Utilisation
- Used
- Unused
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Stem Cell Banking, Segmentation by Service Type
- Collection & Transportation
- Processing
- Analysis
- Storage
Few of the well-known market leaders in the global stem cell banking market that are profiled by Research Nester are CBR Systems Inc., Global Cord Blood Corporation, Cordlife Group Limited, Regrow Biosciences Pvt. Ltd., Cryo-Cell International, Inc., BrainStorm Cell Limited, Cryoviva Biotech Pvt. Ltd., Lifecell International Private Limited, Smart Cells International Ltd, Viacord, LLC, and other key market players.
Recent Development in the Market
- Leukaemia & Myeloma Research UK (LMRUK) and Smart Cells International Ltd collaborated as partners. The agreement would allow qualified pregnant women to freeze their baby's umbilical cord blood stem cells at birth, in case they need to treat either their child or a sibling in the future.
- Brazilian Patent Office has approved a patent application for, "A method of generating cells that secrete Brain Derived Neurotrophic Factor (BDNF), Glial Derived Neurotrophic Factor (GDNF), Hepatocyte Growth Factor (HGF), and Vascular Endothelial Growth Factor (VEGF), without secreting Nerve Growth Factor," a company that provides adult stem cell treatments for neurological disease. An approved claim covers a process for generating MSC-NTF cells (NurOwn).
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