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 Banking Market was valued at USD 1.47 billion in 2016 and is projected to reach USD 7.52billion by 2025, growing at a CAGR of 19.89% from 2017 to 2025.Stem cell preservation is a novel technology which is increasingly becoming popular amongst the potential users. The large scope of benefits provided by the technology and ease of performance, coupled with growing number of biotechnology experts are the key drivers for the stem cell banking market.
Market Dynamics:
1. Market Drivers
1.1 Increasing adoption of technology because of harmless extraction methods
1.2 Growingnumber of child births
1.3 Awareness regarding stem cell preservation and benefits
1.4 Increment in disposable income in developing countries
1.5 Growth in GDP
1.6 Benefits of stem cell preservation and ease of storage
2. Market Restraints
2.1 High number of competitors in the market
2.2 High cost of operation
2.3 Lack of awareness amongst majority
2.4 Stringent regulations
Market Segmentation:
1. Global Stem Cell Banking Market, by Service:
1.1 Analysis
1.2 Storage
1.3 Collection & Transportation
1.4 Processing
2. Global Stem Cell Banking Market, by Application:
2.1 Leukemia
2.2 Diabetes
2.3 Autism
2.4 Cerebral Palsy
2.5 Thalassemia
2.6 Others
3. Global Stem Cell Banking Market, by Bank Type:
3.1 Cord Blood
3.2 Cord Tissue
4. Global Stem Cell Banking Market, 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 Banking Market was performed in five phases which include Secondary research, Primary research, subject matter expert advice, quality check and final review.
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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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