NEW YORK, Jan. 20, 2022 /PRNewswire/ -- The stem cell banking market share growth by the adult stem cells segment will be significant for revenue generation. The adult stem cell banking segment leads the market owing to the easy availability of these cells within the human body. Technavio report provides an accurate prediction of the contribution of all the segments to the growth of the stem cell banking market size and actionable market insights on each segment.

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Stem Cell Banking Market Report Highlights:

1. Market growth 2020-2025: USD 4.61 billion
2. Growth momentum & CAGR: Accelerate at a CAGR of 8.08%%
3. YoY growth rate: 7.22%
4. Performing market contribution: North America at 39%

Market Segmentation

• By Type, the market is classified into adult stem cells, umbilical cord blood stem cells, and embryonic stem cells.
• By Geography, the market is classified into North America, Europe, Asia, and ROW.

Regional Market Analysis

With 39% of the growth to originate from North America. The US and Canada are the key markets for stem cell banking in North America. Market growth in this region will be slower than the growth of the market in the European and Asian regions. The presence of a well-developed healthcare system will facilitate the stem cell banking market growth in North America over the forecast period.

• North America is the largest revenue contributor to the global stem cell banking market due to the state-of-the-art technological support and the growing presence of established vendors such as AMAG Pharmaceuticals, Aldagen, Arteriocyte, Brainstorm Cell Therapeutics, PerkinElmer, and Thermo Fisher Scientific in the region. All these vendors provide stem cell storage and processing services and utilize stem cells for developing treatments for diseases such as cancer. The US and Canada are the highest revenue contributors in the region due to several factors, such as the presence of a well-developed healthcare system, which allows vendors providing biotechnology solutions such as stem cell banking to easily establish themselves in the market

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Key Vendors and Vendor Strategies

Cordlife Group Ltd., CordVida, Covis Pharma BV, Cryo Stemcell, Cryo-Cell International Inc., Cryoviva Biotech Pvt. Ltd., FUJIFILM Holdings Corp., Global Cord Blood Corp., PerkinElmer Inc., and Plus Therapeutics Inc. are few of the key vendors.

The vendors in the market are constantly focusing on broadening their product portfolio through expanding their product offerings. Additionally, vendors are focusing on expanding their presence in new regions.

Few vendors with key offerings

• Cordlife Group Ltd - The company offers stem cell banking which is beneficial and integral stem cells in treating various life-threatening disorders.
• CordVida - The company offers stem cell banking which gives the advantage of more treatment options.
• Covis Pharma BV -  The company offers stem cell banking through medicines and treatments such as Makena (hydroxyprogesterone caproate injection), Feraheme (ferumoxytol injection) For Intravenous (IV) Use, and many more.

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Key Market Drivers

Our analysts have extensively outlined the information on the key market drivers and their impact on the stem cell banking market.

• Increased federal investment in stem cell therapy:
• The key factor driving growth in the stem cell banking market is the increased federal investment in stem cell therapy. Many research institutions and small vendors cannot afford to invest in stem cell therapy-related services, as research and clinical trials of stem cell therapy are expensive. Government organizations have realized the importance and potential of stem cell research and increased their funding for these studies. Many state-oriented organizations also provide funding for stem cell studies. Thus, the rising investments in stem cell research will increase the demand for stem cell banking during the forecast period.

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