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Stem Cell Banking Market Size, Share, Growth, Demand and Forecast 2024

The stem cell banking market is segmented by the source into dental pulp-derived, adipose tissue-derived, bone marrow-derived, placenta, human embryo-derived and other. Of all, placental stem cells account for the major share and are expected to grow at the fastest rate in the global market during the forecast period, due to the increasing number of cord and placenta banks and growing public awareness regarding the therapeutic potential of stem cells. Read more at: https://www.vynzresearch.com/healthcare/stem-cell-banking-market

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Stem Cell Banking Market Size, Share, Growth, Demand and Forecast 2024

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  1. Stem Cell Banking Market

  2. About VynZ Research… • VynZ Research is a global market research firm offering research, analytics, and consulting services on business strategies. We have a recognized trajectory record and our research database is used by many renowned companies and institutions in the world to strategize and revolutionize business opportunities. The company focuses on providing valuable insights on various technology verticals such as Chemicals, Automotive, Transportation, Energy, Consumer Durables, Healthcare, ICT and other emerging technologies. • VynZ Research has one of the most qualified & experienced analysts, who are constantly tracking the markets and the technologies. The research team has years of proven experience and wide knowledge & understanding of the technology, application, business models, and regulators of the segments and the value chain involved. • A trusted & proven methodology that involves highest quality of primary research, secondary analysis collated & verified through various sources including cross checking with different industry experts. • Serving wide range of customers most of them from Fortune 2000 companies • With a dedicated 24x7 customer helpline our customers can reach for specifying their needs • Developing long term relationship with the clients and satisfying them is one of the crucial notches of the company. VynZ Research aims at gaining and retaining its clients in order to make long term customer relationship.

  3. Stem Cell Banking Market The facility for storing the amniotic fluid for future applications. Stem cells have the capability to construct or generate every tissue in the body, therefore have great potential for future therapeutic uses in tissue regeneration and repair. In order for cells to fall under the definition of “stem cells,” they must display two essential characteristics. The stem cell banks are kept specifically for use by the individual person from whom such cells have been collected. The individual paid the cost for keeping the amniotic fluid (Stem cell) on a subscription basis. Globally stem cell banking is growing at a CAGR of 9.1% during the forecast period getting USD 10.5 billion by 2024. Due to the development of innovative technologies of preservation, processing and storage. Stem cell banking market is observing a increased demand for placenta stem cells over the last few years, due to the increasing public awareness regarding the therapeutic prospective of stem cells.

  4. Stem Cell Banking Market Industry Dynamics Growth Drivers The growing awareness on increasing approval of clinical trials in stem cell research, increase in hematopoietic stem cell transplantation procedures, the therapeutic potential of stem cells, development of novel technologies for stem cell preservation, storage and processing & growing investment in stem cell based research are the major growth drivers for stem cell banking industry.The growing number of the fertility rate resulted in the increase in the number of child birth, which can be the new market opportunity due to increasing awareness about preservation of newborn child’s umbilical cord as a type of stem cells. Rising the global burden of major disease, increasing healthcare expenditure and public awareness related to the therapeutic potential of stem cells are also fueling the growth of the stem cell banking market. It has gained immense popularity in emerging economies. In past few years many companies promoting stem cell banking in a huge way across the globe, for example, in the U.S. CordBloodAwareness.org was formed to increase the awareness about the umbilical cord blood stem cells. Challenges The stringent regulatory framework and high operational and processing costs are the major challenges for the growth of stem cell banking market. Furthermore, the socio-ethical issues involved in stem cell research such as destruction of human embryo and religious briefs are considered as the hindering factor for the global market.

  5. Global Stem Cell Banking Market Key players… Key players in the stem cell banking industry are investing in the development of innovative and advance products, which is strengthening their position in the market. In May 2018, Cordlife launched PlumCare DNA Advisor, to detect and manage genetic mutations associated with hereditary conditions in the Philippines. In addition, in December 2017, Cordlife had partnered with Eone-Diagnomics Genome Center (EDGC), a certified laboratory in South Korea, to offer non-invasive prenatal testing in Indonesia and the Philippines. Cord Blood Registry Systems, Cordlife Group Limited, Cryo-Cell International, Cryo-Save AG, LifeCell International, StemCyte, ViaCord, Global Cord Blood, Smart Cells International, Vita34, and CryoHoldco are some of the key players offering products.

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