The global market value of the Human Reproductive and Stem
Cells Bank Services market was valued at USD 9.8 billion in 2022, and a CAGR of
7.1% is expected during the forecast period. Increasing demand for stem cell
transplantation and demand for safe and reliable sources of stem cells have
increased. Increasing investment by private companies in stem cell research is
driving growth in the market significantly.
Improvements in stem cell isolation,
storage, and technologies are driving growth in the market. General, public,
and medical experts are becoming more aware of the advantages of stem-cell
banking, such as its ability to treat a variety of illnesses, which is driving
growth in the market significantly. The rise in the number of people with
diabetes is driving growth in the market.
Growth Drivers
Rising rates of infertility due to factors like lifestyle
changes, stress, environmental pollutants, and delayed childbearing had
increased the demand for reproductive services, including IVF and other
assisted reproductive technologies. Advances in cryopreservation techniques,
genetic screening, and stem-cell therapies have made these services more
effective, accessible, and reliable, thus boosting market growth. Ongoing
research and development in stem-cell therapies for treating a variety of
diseases, including cancer, neurogenerative disorders, and auto-immune
diseases, are driving demand for the stem cell banking services market
significantly.
Growing awareness about the benefits of stem cell banking and
the availability of reproductive services is leading to greater acceptance and
adoption. Initiatives by healthcare providers and the government to educate
people about the potential of these services are driving growth in the market
significantly. The aging population is increasing the demand for stem-cell
therapies, particularly in the treatment of age-related conditions, which in
turn boosts the market for stem-cell banking.
Countries with advanced medical infrastructure and
affordable pricing for reproductive and stem cell therapies are attracting
patients from around the world, which is fueling the market growth. Increasing
disposable income, particularly in developing regions, will allow more individuals
and couples to afford reproductive services and stem-cell banking. Entry of
private companies into the market is enhancing service quality, accessibility,
and innovation, thereby driving growth. Collaboration between research
institutions, hospitals, and biotech companies is leading to significant
advancements in reproductive and stem cell services. Expanding range of
application for stem cells in treating chronic diseases, regenerative
medicines, and personalizing medicine is driving demand for stem cell banking
services. The growing prevalence of cardiovascular diseases and blood-related
issues is driving growth in the market significantly.
Segmentation
By Utilization
·
Used
·
Unused
By Bank Type
·
Public
·
Private
By Service Type
·
Collection and Transportation
·
Processing
·
Analysis
·
Storage
By Cell Type
·
Cord-Blood
·
Cord-Tissue
·
Placenta
·
Adult Stem-Cell
·
Embryonic Stem-Cell
·
Umbilical Cord-Stem Cell
Regional Outlook
·
Asia Pacific
·
North America
·
Latin America
·
Middle East and Africa
·
Europe
Human Reproductive and Stem Cell
Banking Services Market by Bank Type
On the basis of the bank type, the human reproductive stem
cell banking services market is segmented into public and private. Private
banking is the leading segment and is expected to drive growth in the market
during the forecast period, as most of the families store their stems in
private banks for future use. This kind of bank provides health insurance for
an infected person who is treated with the help of stem cells. This kind of
bank is well-known for providing premium services, which would drive the growth
in the market significantly.
Increased incidence of chronic illnesses such as
diabetes, cancer, and cardiovascular diseases is driving growth in the market
significantly. Public banking, on the other hand, allows anyone in need to
access stem cells without a direct cost; donated stem cells are available to
the public and are matched with patients requiring transplants. There is no
cost to donate to a public bank. Stem cells stored in public banks are often
used in research and development and are contributing to advancements in
medical science.
Regional Outlook
On the basis of the regions, the market is segmented into 5
parts: Asia Pacific, North America, Latin America, Europe, and the Middle East
and Africa. North America is the leading segment and is expected to dominate
the market during the forecast period due to the growing prevalence of chronic
diseases and increasing investment in healthcare infrastructure, due to which
the United States and Canada are the leading segments in the market. Genetic
problems and other reproduction-related disorders are at the highest rate in
the region; an increasing geriatric population and growing awareness among all
about the importance of stem-cell therapies are driving the growth in the
market significantly.
The presence of key players in the region is one of the
key reasons behind the significant growth in the market. The European market is
also witnessing significant growth in countries like Germany, France, the UK, Greece,
Russia, and Turkey due to the increasing geriatric population in the region.
Growing development of advanced storage devices in the region and the presence
of key players in the market are driving growth in the region. Ireland, Sweden,
Finland, and Belgium are among the countries investing significant amounts in
research and development during the forecast period.
Growing adoption of medical advancements in the Asia Pacific
region, especially in countries like China, India, Japan, South Korea, and Vietnam,
is driving the growth in the market. The increasing geriatric population in the
region is driving the demand for stem-cell therapies in the market
significantly. Increased incidences of chronic illnesses such as cancer,
cardiac issues, and diabetes are driving growth in the market significantly.
Future stem cell banking market expansion is driving growth in the market.
The
presence of key players is the reason behind the sheer dominance of the region
in this market. Rising rates of infertility due to a growing population is the
key reason behind the significant growth in the market. Increasing disposable
income and rising urbanization are the key reasons behind the significant
growth in the market. Middle East and Africa, and Latin America is witnessing
significant growth in the market.
Key Players
·
Global Cord blood Corporation
·
Cordlife Group Limited
·
Cryo-cell international Inc.
·
Brain-storm Cell Ltd.
·
Life cell international private Ltd.
·
Smart Cell International Ltd.
·
Viacord, LLC
·
CBR System Inc.
·
Other Players
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