DUBLIN, Feb. 27, 2020 /PRNewswire/ — The “Stem Cell Banking – Market Analysis, Trends, and Forecasts” report has been added to ResearchAndMarkets.com’s offering.
The growing interest in regenerative medicine which involves replacing, engineering or regenerating human cells, tissues or organs, will drive market growth of stem cells. Developments in stem cells bioprocessing are important and will be a key factor that will influence and help regenerative medicine research move into real-world clinical use. The impact of regenerative medicine on healthcare will be comparable to the impact of antibiotics, vaccines, and monoclonal antibodies in current clinical care. With the global regenerative medicine market poised to reach over US$45 billion by 2025, demand for stem cells will witness robust growth.
Another emerging application area for stem cells is in drug testing in the pharmaceutical field. New drugs in development can be safely, accurately, and effectively be tested on stem cells before commencing tests on animal and human models. Among the various types of stem cells, umbilical cord stem cells are growing in popularity as they are easy and safe to extract. After birth blood from the umbilical cord is extracted without posing risk either to the mother or the child. As compared to embryonic and fetal stem cells which are saddled with safety and ethical issues, umbilical cord is recovered postnatally and is today an inexpensive and valuable source of multipotent stem cells. Until now discarded as waste material, umbilical cord blood is today acknowledged as a valuable source of blood stem cells. The huge gap between newborns and available cord blood banks reveals huge untapped opportunity for developing and establishing a more effective banking system for making this type of stem cells viable for commercial scale production and supply. Umbilical cord and placenta contain haematopoietic blood stem cells (HSCs). These are the only cells capable of producing immune system cells (red cells, white cells and platelet).
HSCs are valuable in the treatment of blood diseases and successful bone marrow transplants. Also, unlike bone marrow stem cells, umbilical cord blood has the advantage of having ‘off-the-shelf’ uses as it requires no human leukocyte antigen (HLA) tissue matching. Developments in stem cell preservation will remain crucial for successful stem cell banking. Among the preservation technologies, cryopreservation remains popular. Development of additives for protecting cells from the stresses of freezing and thawing will also be important for the future of the market. The United States and Europe represent large markets worldwide with a combined share of 60.5% of the market. China ranks as the fastest growing market with a CAGR of 10.8% over the analysis period supported by the large and growing network of umbilical cord blood banks in the country. The Chinese government has, over the years, systematically nurtured the growth of umbilical cord blood (UCB) banks under the ‘Developmental and Reproductive Research Initiation’ program launched in 2008. Several hybrid public-private partnerships and favorable governmental licensing policies today are responsible for the current growth in this market.
Competitors identified in this market include:
- Cord Blood Registry (CBR) Systems Inc.
- Cordlife Group Limited
- Cryo Stemcell Private Limited
- Cryo-Cell International Inc.
- Cryoviva Biotech Private Limited
- Global Cord Blood Corporation
- LifeCell International Pvt. Ltd
- Smart Cells International Ltd.
- StemCyte
- Takara Bio Europe AB
- ViaCord
- Vita34 AG.
Companies Mentioned
- Cord Blood Registry (CBR) Systems Inc.
- Cordlife Group Limited
- Cryo Stemcell Private Limited
- Cryo-Cell International Inc.
- Cryoviva Biotech Private Limited
- Global Cord Blood Corporation
- LifeCell International Pvt. Ltd
- Smart Cells International Ltd.
- StemCyte
- Takara Bio Europe AB
- ViaCord
- Vita34 AG.
For more information about this report visit https://www.researchandmarkets.com/r/vgxw4q
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