Stem Cell Banking Market Industry Analysis and growing Opportunities with Customer Segments and Top Key Players
According to a new report published by Allied Market Research, titled, Stem Cell Banking Market by Cell Type, Bank Type, Service Type, and Utilization: Global Opportunity Analysis and Industry Forecast, 20172023," the global stem cell banking market was valued at $1,986 million in 2016, and is estimated to reach $6,956 million by 2023, registering a CAGR of 19.5% from 2017 to 2023. North America is the highest contributor in the stem cell banking market in 2016; however, Asia-Pacific is expected to witness the highest growth rate during the forecast period.
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Key Findings of the Stem Cell Banking Market:
• Used stem cells is projected to grow at the highest rate among the utilization segment during the analysis period.
• North America dominated global stem cell banking market in 2016, and is projected to continue its dominance in future.
• China is expected to grow at the highest rate in the Asia-Pacific region during the forecast period.
• Storage service segment was the largest contributor among the service type segments in 2016.
• The private stem cell bank generated the highest revenue, and is expected to continue its dominance in future.
Among the cell type, the umbilical cord stem cell segment dominates the market, as these stem cells can be used to treat almost 80 diseases and the extraction process is easy and does to harm the newborn in any way. However, the adult stem cell segment is expected to register the highest growth rate during the forecast period.
Depending on bank type, the private stem cell banking is the dominant segment in the stem cell banking market. Although the number of public banks are more than private banks, the revenue generated by private stem cell banks are more, which contributes toward the growth of the market.
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• Cord Blood Registry
• China Cord Blood Corporation
• New York Cord Blood Program
In 2016, North America was the major revenue contributor, owing to increase in awareness toward the benefits of storing stem cell and favorable regulatory scenario. However, Asia-Pacific is expected to witness the highest CAGR during the analysis period, due to high birth rate in populace countries such as India and China.
Rise in number of births occurring globally, increase in R&D activities in regards with applications of stem cells, and surge in prevalence of fatal chronic diseases drive the growth of the market. The growth in GDP & disposable income globally is projected to help increase the number of stem cell units stored, which in turn boosts the market growth. However, legal and ethical issues related to stem cell collections and lack of acceptance and awareness in the developing regions are projected to hinder the market growth.
Table of content:
Chapter: 1: INTRODUCTION
1.1. Report description
1.2. Key benefits for stakeholders
1.3. Key market segments
1.4. Research methodology
1.4.1. Secondary research
1.4.2. Primary research
1.4.3. Analyst tools and models
Chapter: 2: EXECUTIVE SUMMARY
2.1. CXO perspective
Chapter: 3: MARKET OVERVIEW
3.1. Market definition and scope
3.2. Key findings
3.2.1. Top investment pockets
3.2.2. Top winning strategies
3.3. Porters five forces analysis
3.4. Top Player Positioning
3.5. Market dynamics
18.104.22.168. Large number of newborns
22.214.171.124. Increase in R&D activities for application of stem cells
126.96.36.199. Increase in prevalence of fatal chronic diseases
188.8.131.52. Growth in GDP and disposable income
184.108.40.206. Legal and ethical issues during collection of stem cells
220.127.116.11. High processing and storage cost
18.104.22.168. Lack of acceptance and awareness
22.214.171.124. Initiatives to spread awareness
126.96.36.199. Untapped market in developing regions
Access full summary at: www.alliedmarketresearch.com/stem-cell-banking-market?utm_source=Prathm_OPR
Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
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