Report Ocean presents a new report on Stem Cell Banking Market size, share, growth, industry trends, and forecast 2030, covering various industry elements and growth trends helpful for predicting the markets future.
The global stem cell banking market size was US$ 2.2 billion in 2020. The global stem cell banking market is forecast to reach the value of US$5.5 billion by 2030 by growing at a compound annual growth rate (CAGR) of 9.6% during the forecast period from 2021-2030. Stem cell banking is a process of collecting, extorting, and freezing cord blood for future use. Cord blood stem cells are used in the treatment of blood-related diseases, including thalassemia, sickle cell disease, and leukemia.
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In order to produce a holistic assessment of the market, a variety of factors is considered, including demographics, business cycles, and microeconomic factors specific to the market under study. Stem Cell Banking Market report 2021 also contains a comprehensive business analysis of the state of the business, which analyzes innovative ways for business growth and describes critical factors such as prime manufacturers, production value, key regions, and growth rate.
The Centers for Medicare and Medicaid Services report that US healthcare expenditures grew by 4.6% to US$ 3.8 trillion in 2019, or US$ 11,582 per person, and accounted for 17.7% of GDP. Also, the federal government accounted for 29.0% of the total health expenditures, followed by households (28.4%). State and local governments accounted for 16.1% of total health care expenditures, while other private revenues accounted for 7.5%.
This study aims to define market sizes and forecast the values for different segments and countries in the coming eight years. The study aims to include qualitative and quantitative perspectives about the industry within the regions and countries covered in the report. The report also outlines the significant factors, such as driving factors and challenges, that will determine the markets future growth.
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The global stem cell banking market is forecast to gain traction, owing to the growing prevalence of blood-related diseases, rising healthcare expenditure, and favorable government initiatives to enhance the services in the healthcare sector.
The rising awareness regarding the therapeutic potential of stem cells treatment is forecast to fuel the growth of the global stem cell banking market.
The increasing approval for research activities and trials in the stem cell industry would create lucrative opportunities for market growth during the analysis period.
The growing development of advanced technologies for stem cell preservation, storage, and processing is forecast to create favorable growth opportunities for the market players in the global stem cell banking market.
Companies initiatives to increase awareness regarding the benefits of stem cells are forecast to accelerate the market growth in the coming years. CordBloodAwareness.org was created in the United States to spread awareness regarding umbilical cord blood stem cells.
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Geographically, North America is forecast to lead in the global stem cell banking market because of the rising awareness regarding stem cell banking services and technological advancement in the industry. In addition, increasing demand for stem cell transplantation procedures is accelerating the regional growth in the global stem cell banking market. Furthermore, government initiatives to enhance healthcare infrastructure should create promising opportunities for the market players in the stem cell banking industry.
Asia-Pacific is forecast to grow with a significant compound annual growth rate. The increasing population awareness regarding the therapeutic benefits of stem cell banking is the primary factor driving the market growth. Moreover, government initiatives for improving healthcare infrastructure would propel the regions contribution.
COVID-19 Impact Analysis
The global stem cell banking market witnessed a slight slow down during the pandemic as preferences shifted to curbing the COVID-19 spread. Moreover, people avoided vising hospitals for stem cell treatment as it increases the chances of risk. Surgeons and doctors also postponed other treatments, as the entire healthcare sector was overburdened by the COVID-19 patients. Thus, the stem cell banking market witnessed a slight decline during the pandemic.
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Competitors in the Market
Cord Blood Registry System
Cordlife Group Limited
Global Cord Blood
Smart Cells International
Other prominent players
By Service Type
Collection & Transportation
By Cell Type
Umbilical Cord Stem Cell
Adult Stem Cell
Embryonic Stem Cell
By Bank Type
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Rest of Western Europe
Rest of Eastern Europe
Australia & New Zealand
Rest of Asia Pacific
Middle East & Africa (MEA)
Rest of MEA
Rest of South America
What are the aspects of this report that relate to regional analysis?
The reports geographical regions include North America, Europe, Asia Pacific, Latin America, the Middle East, and Africa.
The report provides a comprehensive analysis of market trends, including information on usage and consumption at the regional level.
Reports on the market include the growth rates of each region, which includes their countries, over the coming years.
How are the key players in the market assessed?
This report provides a comprehensive analysis of leading competitors in the market.
The report includes information about the key vendors in the market.
The report provides a complete overview of each company, including its profile, revenue generation, cost of goods, and products manufactured.
The report presents the facts and figures about market competitors, alongside the viewpoints of leading market players.
A market report includes details on recent market developments, mergers, and acquisitions involving the key players mentioned.
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