Kenneth Research recently added a report on ‘Stem Cell Banking Market’ in its database of market research reports which provides its readers an in-depth analysis on the latest trends, growth opportunities and growth drivers that are associated with the growth of the market. The report additionally shares critical insights on the COVID-19 impacts on the Stem Cell Banking Market, along with the compound growth rate (CAGR) of the market for a projected period between 2022 and 2031. The report also includes analysis of the market by utilizing different analytical tools, such as PESTEL analysis and Porter’s five forces analysis. These tools also provide an in-depth analysis on the micro and macro-environmental factors that are associated with the growth of the market during the forecast period.
U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Stem Cell Banking Market products.
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The global Stem Cell Bankingmarket was valued at USD 1.52 billion in 2016 and is projected to reach USD 7.94billionby 2025, growing at a CAGR of 20.17% from 2017 to 2025.
Stem Cell banking involves preservation of new born placental stem cells or amniotic stem cells as well as adult bone marrow stem cells. The concept ensures health safety in case of a major surgery or organ regeneration needs for the patient. With increasing awareness regarding the practice, the market is expected to boost in near future.
Sample Infographics:
Market Dynamics:
1. Market Drivers
1.1 Easy Extraction Methods
1.2 High birth ratio
1.3 Increase in GDP and Disposable income in developing nations
1.4 Increasing support from public and private sector
1.5 Scope of stem cell usage in therapeutics and treatment
2. Market Restraints
2.1 Large number of players in the market
2.2 High Cost of technology
2.3 Lack of awareness
2.4 Regulatory restrains
Market Segmentation:
1. By Application:
1.1 Cerebral Palsy
1.2 Thalassemia
1.3 Leukemia
1.4 Diabetes
1.5 Autism
1.6 Others
2. By Services:
2.1 Collection & Transportation
2.2 Processing
2.3 Analysis
2.4 Storage
3. By Bank Type:
3.1 Cord Blood
3.2 Cord Tissue
4. By Region:
4.1 North America (U.S., Canada, Mexico)
4.2 Europe (Germany, UK, France, Rest of Europe)
4.3 Asia Pacific (China, India, Japan, Rest of Asia Pacific)
4.4 Latin America (Brazil, Argentina, Rest of Latin America)
4.5 Middle East & Africa
Competitive Landscape:
The major players in the market are as follows:
1. CBR Systems, Inc.
2. Cordlife
3. Cryo-Cell
4. Cryo-Save AG (A Group of Esperite)
5. Lifecell
6. Stemcyte
7. Viacord
8. Smart Cells International Ltd.
9. Cryoviva India
10. Cordvida
11. China Cord Blood Corporation
These major players have adopted various organic as well as inorganic growth strategies such as mergers & acquisitions, new product launches, expansions, agreements, joint ventures, partnerships, and others to strengthen their position in this market.
RESEARCH METHODOLOGY OF VERIFIED MARKET RESEARCH:
Research study on the Stem Cell Bankingmarketwas performed in five phases which include Secondary research, Primary research, subject matter expert advice, quality check and final review.
The market data was analyzed and forecasted using market statistical and coherent models. Also market shares and key trends were taken into consideration while making the report. Apart from this, other data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Top to Bottom Analysis and Vendor Share Analysis.
To know more about the research methodology of verified market research and other aspects of the research study, kindly get in touch with our sales team.
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