Stem Cell Banking Market Expected To Reach $16.55 Billion by 2030 | CAGR of 15.6%

Stem cell banking market size was valued at $4,298.5 million in 2020, and is projected to reach $16,558.4 million by 2030, registering a CAGR of 15.6% from 2021 to 2030. Stem cells are used to repair and self-renew damaged cells. It is also used to treat various medical conditions such as leukemia, lymphoma, neuroblastoma, and multiple myeloma. These cells are stored in stem cell banks, as they have the potential for usage in the treatment of any medical conditions. The collected stem cells are cryopreserved and stored for decades, which can be later used to treat large number of chronic diseases such as leukemia, thalassemia, and diabetes.

List of Key Players
American CryoStem Corporation
Americord Registry LLC
Cordlife Group Limited
Cryo Cell International Inc.
Cryoholdco De LatinoAmerica, S.A.P.I. DE C.V.
StemCyte Cord Blood Bank
Covis Pharma
Global Cord Blood Corporation
Smart cells
CSG BIO

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On the basis of cell type, the market is categorized into umbilical cord stem cell, cord blood, cord tissue, placenta, adult stem cell, and embryonic stem cell. The umbilical cord stem cell segment dominated the market in 2020, and this trend is expected to continue during the forecast period, owing to the application to treat multiple medical conditions and can be easily collected without any risk for the mother and baby.

Depending on bank type, the market is divided into public and private. The public segment dominated the market in 2020, and this trend is expected to continue during the forecast period, owing to low cost of stem cell therapy at public banks.

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The COVID-19 outbreak is anticipated to have a negative impact on the growth of the stem cell banking market. The spread of COVID-19 led to a major public health issue. Most of the stem cell collection procedures were slowed down to avoid spread of COVID-19 virus. However, clinical trials for application of stem cells for COVID-19 treatment, may contribute to the market growth post pandemic.

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