Stem Cell Banking Market

The global stem cell banking market is expected to reach USD 3.96 Billion by 2021 from USD 1.58 Billion in 2016, at a CAGR of 20.2% from 2016 to 2021. Increasing awareness regarding the storage of cord blood and tissue stem cells, high growth potential of emerging economies, and increasing use of stem cells in the field of therapeutics have opened an array of opportunities for the growth of the market in the coming years.

The global stem cell banking market is classified on the basis of type into cord blood and cord blood & cord tissue. On the basis of services, the market is segmented into collection & transportation, processing, analysis, and storage. The major applications of stem cell banking include cerebral palsy, leukemia, thalassemia, anemia, autism, diabetes, and others. Among these applications, stem cells are mainly used for the treatment of cerebral palsy.

The storage services segment is estimated to command the largest share in 2016 and the forecast period. North America is the major market for this segment. The high share of the storage services segment can be attributed to the high cost of the equipment required for the storage of cord blood and cord tissue, in turn increasing the per-year cost of maintenance of the sample units.

By region, the report segments the stem cell banking market into four regions–North America, Europe, Asia-pacific, and the Rest of the World. Among these regions, North America holds the largest market share. This is attributed to factors such as availability of federal funding for stem cell research. In addition, the preference for private banks has risen in the U.S.; in 2013, 2.6% of parents were opting for private banks as opposed to 0.4% in 2004. Moreover, an FDA-approved clinical trial showed that the use of stem cells helped improve impaired sight in 2014 and provide the safety of stem cell therapy in the long run.

A key restraint to stem cell banking market growth is the high cost of storage. The approximate cost incurred in storing cells for 25 years is USD 1,500 with a USD 150 per-year maintenance charge. In addition, the cost of cell therapies to treat diseases is high, with no guaranteed success due to the variability of the samples even after standardization checks. Based on a company’s operating facilities, the cost of processing and storage of samples might further increase.

The major players operating in the stem cell banking market include StemCyte (U.S.), Cryo-Cell International (U.S.), ViaCord (By Perkin Elmer) (U.S.), Cord Blood Registry (U.S.), Smart Cells (U.K.), Cryo-Save (Europe), Cryoviva (India), LifeCell (India), Cordlife (Singapore), Cordvida (Brazil), and China Cord Blood Corporation (China).

Cord Blood Registry, San Bruno, (U.S.) accounted for the largest share of the stem cell banking market in 2015. It is the largest bank for the storage of umbilical cord blood and cord blood tissue, with more than 600,000 units stored till date.