Global Growth Driving Factors:

Factors such as the growing awareness on the therapeutic potential of stem cells; development of novel technologies for stem cell preservation, processing and storage; increase in hematopoietic stem cell transplantation (HSCT) procedures; and increasing investments in stem cell-based research are driving the growth of the Stem Cell Banking Market. However, the high operational costs associated with stem cell banking and stringent regulatory frameworks are expected to restrain market growth to a certain extent.

Driver: Growing awareness on the therapeutic potential of stem cells

With the increased availability of clinical evidence, public awareness regarding the therapeutic potential of stem cells is on the rise across the globe. Moreover, stem cells have been proven to treat ~80 diseases and disorders including hematopoietic disorders, immunodeficiency diseases, metabolic disorders, cancer, and degenerative neuromuscular disorders. With the continued rise in per capita disposable income across developing nations and an expected decline in product costs associated with stem cell therapies, public awareness and the adoption of stem cell therapies, as well as stem cell banking services, are expected to grow during the study period.

Restraint: High operational costs of stem cell banking

Cell banks, tissue banks, and biobanks incur significant expenditure during the sample processing, quality testing, and sample preservation and storage processes. This does not include spending on the purchase and maintenance of premium-priced instruments, reagents, and consumables. This results in high operational costs for service providers.

Moreover, increasingly stringent and mandatory regulatory requirements related to stem cell preservation and banking—as well as the costly licensing/approval process for the establishment of stem cell banks in developed nations—are expected to further contribute to the overall operational costs for stem cell banking service providers.

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Recent Developments:

# In 2017, Life Cell International (India), launched upgraded and enhanced its umbilical cord collection kit.

# In 2017, Vita34 AG (Germany) acquired Seracell Pharma AG (Germany) to strengthen its position in the German stem cell banking market.

# In 2016, StemCyte India Therapeutics Pvt. Ltd. (India), a subsidiary of StemCyte (US) received accreditation from The Foundation for the Accreditation of Cellular Therapy (FACT) for both public and private stem cell banking services.

# In 2015, Cord Blood Registry (CBR) Systems (US) entered into a collaboration agreement with New York Stem Cell Foundation (US) to develop induced pluripotent stem cells from umbilical cords.

Key Market Players:

As of 2017, the global stem cell banking market was dominated by Cord Blood Registry (CBR) Systems (US), Cordlife Group Limited (Singapore), Cryo-Cell International (US), and ViaCord (US). Other key players in the stem cell banking market included Cryo-Save AG (Netherlands), LifeCell International (India), StemCyte (US), Global Cord Blood Corporation (China), Smart Cells International (UK), Vita34 AG (Germany), and CryoHoldco (Mexico), among others.

Cord Blood Registry (CBR) Systems held the leading position in the global stem cell banking market in 2017. The company has a widespread presence and large customer base in the US. The company primarily focuses on advancing its umbilical cord preservation services through the adoption of inorganic growth strategies such as collaborations and partnerships. In regard to this, in 2017, the company collaborated with the New York Stem Cell Foundation (US) to develop induced pluripotent stem cells from umbilical cords.

Cordlife secured the second position in the global stem cell banking market in 2017. The company is a leading player in the Asian stem cell banking market with its robust presence across eight countries and high-quality services. To sustain its leading position in the Asian region, the company mainly focuses on increasing its customer base through agreements. For instance, in 2017, the company entered into an agreement with IPS Trading and Service Joint Stock Company (Vietnam) to offer umbilical cord banking services and non-invasive metabolic newborn screening in Vietnam. Similarly, in 2016, the company collaborated with Bio Secure Company Limited (Myanmar) to offer umbilical cord banking services in Myanmar.

Cryo-Cell International held the third position in the stem cell banking market in 2017. The company is one of the key private stem cell banking providers in the global market. The company’s key strengths are its significant geographic presence and unique state-of-the-art technology for banking operations. The company mainly focuses on acquiring patents for the collection, testing, processing, and preservation of umbilical cord blood and tissues. For instance, in 2015, the company acquired assets of Prepacyte-CB (a cord blood business of CytoMedical Design Group LLC) to advance its existing technology for processing of cord blood and tissues.

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North America dominated the market in 2017

North America is expected to account for the largest share of the global stem cell banking market in 2018, followed by Asia Pacific. Factors such as expanding network of stem cell banking services across the region, ongoing approval of stem cell lines for disease treatment (especially for hematopoietic autoimmune disorders), recent technological advancements in the field of stem cell collection and preservation techniques, and rising public-private investments for stem cell researches are driving the growth of the stem cell banking market in the North America.