Global Stem Cell Banking Market Surpasses USD 15 Bn by 2027: A Result of Flexible Guidelines and Increasing R&D and Investments. What Awaits the Future of Stem Cell Banking? : Ken Research

1. Enhancing Global Stem Cell Market: The International Society for Stem Cell Research Proposes Standards for Research Reproducibility Across Laboratories and Cell Lines.

The ISSCR Guidelines address the international diversity of cultural, political, legal, and ethical issues associated with stem cell research and its translation to medicine. The guidelines were updated in 2021 which include new recommendations to address the recent scientific advances involving embryos, stem cell-based embryo models, chimeras, organoids, and genome editing.

National and international repositories should accept deposits of newly derived stem cell lines to preserve them, maintain them to a high standard, and ensure their authenticity. Repositories are encouraged to distribute them internationally to enable their dissemination. Researchers are encouraged to deposit data on stem cell lines into registries.  

2. Driving Forces Behind the Global Stem Cell Banking Market: Research & Development, Regenerative Medicine Advancements, and Increased Investments.

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Global share of deaths due to NCDs are increasing every year. For instance, in 2022 total number of deaths due to NCDs reached ~41 Mn, equivalent to 74% of all deaths globally. Stem cells can be cultured and developed into new tissue that can be used in regenerative medicine and transplantation.
Certain types of stem cells can be utilized by researchers to test the safety and quality of investigational drugs prior to their use in human trials.
CIRM is the leading financial supporter of stem cell research apart from the NIH. It offers funding for research, development, translational and clinical trials.
There is a continuous increase in R&D and clinical trials for stem cells and gene therapy.

3. The Impact of COVID-19 on the Global Stem Cell Banking Market: Worldwide Lockdown and Logistics Restrictions Hamper Growth.

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The French Cord Blood Bank (CBB) Network collected 4,392 umbilical cord blood (UCB) units in 2020, a decrease from 7,989 units collected in 2019.
The global healthcare services have been significantly impacted by COVID-19 pandemic. Stem cell transplantation, a preferred treatment for various diseases, requires continuous operation of stem cell collection facilities while implementing safety protocols.
However, the implementation of COVID-19 restrictions and adherence to national and international guidelines necessitated additional measures to ensure the secure collection of stem cells from both patients and donors. Consequently, the overall stem cell banking market experienced a decline.

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Ken Research is a Market Research and Consulting Firm, based out of India, Indonesia and UAE. Since 2011, we have been assisting clients globally with our Syndicate and Bespoke Market Research and Advisory Services.

This release was published on openPR.