Global cord stem cell banking market is expected to reach USD 9.44 billion by 2022 from USD 1.84 billion in 2016, at a CAGR of 22.4% in the forecast period 2017 to 2024. The new market report contains data for historic years 2015, the base year of calculation is 2016 and the forecast period is 2017 to 2024.
In 2016, an estimated 940.3 thousand cord cells and tissues were banked globally, which is expected to grow at a CAGR of 14.7% in the forecast period 2016 to 2022 reaching 2,141.1 thousand by 2022. An increased awareness of application of cord stem cells in therapeutics is expected to fuel the growth of this market in major and emerging economies.
Based on product type the market is segmented into cord blood and cord blood & cord tissues. In 2016 the market is dominated by the cord blood segment with 63.7% market share in terms of value and is also expected to grow at the highest CAGR of 24.7% in the forecast period 2017 to 2024.
Cord blood is the blood remaining in the vein of the umbilical cord at the time of birth and happens to be a good source for hematopoietic stem cells as opposed to cord tissue known for mesenchymal stem cells. The banking of cord blood has gained momentum over the past 7-8 years as the awareness regarding its use in stem cell based therapeutics has increased. Cord blood is easy to isolate in a painless and harm free procedure and is free from graft-versus-host infections and viral infections along with high rate of engraftment. It makes umbilical cord blood one of the most economical sources of hematopoietic stem cells useful for treating various blood related disorders. Both private and public banks preserve cord blood for a period of over 25 years and release many units for the purpose of clinical trials. Cord blood is being used to treat over 80 different types of blood related diseases successfully, such as leukemia, thalassemia, autoimmune diseases, and inherited metabolic disorders, to name a few. Clinical trials are on an increase for various other blood related disorders such as hemophilia, hereditary spherocytosis, cerebral palsy, and others with the potential for future use holding great promise.
Cord tissue is the tissue of the umbilical cord that contains blood vessels supported by a tissue called Wharton’s jelly that happens to be a rich source of mesenchymal stem cells. The mesenchymal stem cells are multipotent in nature, having the ability to proliferate and differentiate into muscle, cartilage, bone, and fat cells. Mesenchymal stem cells thus have the potential to treat a number of diseases and conditions long thought to be incurable and thus revolutionize the medical field. Research indicates that the cord tissue will help treat diseases or conditions of the cartilage, muscles, and nerve cells and over 50 diseases are under clinical trials. Not all stem cells banks offer the storage of cord tissue, but with the advent of MSCs in therapeutics, many banks are availing this facility. Cord tissue is known to work specifically towards spinal and brain injuries. Clinical trials are currently underway for diseases such as multiple sclerosis, cartilage repair, stroke, brain damage, liver cirrhosis, traumatic optic neuropathy, muscular dystrophy, and many such others. These cells, still under the clinical trial phase, are said to have the potential to treat various diseases such as heart disease, Parkinson’s disease, type 1 diabetes, injuries to bones and cartilage, and lung cancer along with many others. It is also being tested in the use of various skin disorders such as psoriasis, eczema, and so on. Cord tissue stem cells have the important characteristic of multipotency, making them capable to treat a vast number of diseases in comparison to those that cord blood alone can treat.
On the basis of storage type the global cord stem cell banking market is segmented into public and private storage. In 2016, the public stem cell banks is expected to dominate the market in terms of market volume storage though the private banks is expected to dominate in terms of value. This is owing to the public stem cell banks not charging the customers for storage of stem cell but only charging for extraction which is done by third party agencies.
On the basis of service type the global cord stem cell banking market is segmented into collection & transportation, processing, analysis and storage. In 2016, the processing segment is expected to dominate the market with 47.3% market share and is expected to grow at a CAGR of 19.3% in the forecast period. The collection and transportation segment is expected to grow at the highest CAGR of 22.3% in the forecast period. However the services may vary very differently across countries owing to private banks charging very differently in different countries.
Based on Indication the market is segmented into cerebral palsy, thalassemia, autism, type 1 diabetes, anemia, leukemia, and others. Cerebral Palsy (CP) is most commonly described as the loss or impairment of motor skills. The research on treatment of CP with stem cells is in its preliminary stage, while the research on mesenchymal cells has shown a positive effect. Mesenchymal cells can’t develop into brain cells. However, they help to protect damaged cells and prolong their survival by releasing substances that help in the recovery of cells. Though there are 819.8 thousand samples stored still only approximately 8000 units were used. In 2016, cerebral palsy is expected to dominate the market with 24.7% market share.
On the basis of source the global cord stem cell banking market is segmented into umbilical cord blood, bone marrow, peripheral blood stem and menstrual blood. Among these, umbilical cord is the most preferred source, owing to the high multiplication capability of the umbilical cord stem cells and lesser rejection rate during transplantation. Furthermore, this method of extraction is noninvasive, and the stem cells are not affected by environment contamination.
Based on geography the market is segmented into 5 geographical regions, North America, Europe, Asia-Pacific, South America and rest of the world. The geographical regions are further segmented into 24 major countries such as U.S. Canada, Mexico, Germany, France, U.K., Belgium, Switzerland, Belgium, Turkey, Japan, China, Singapore, Brazil, India, Russia, South Africa and many others. North America is expected to dominate the market with 43.7% market share in 2016. This market is mainly driven by the increasing number of parents storing their child’s cord blood.
The report also includes company share analysis for the major companies operating in this market by major regions North America, Europe and Asia Pacific. The details of mergers & acquisitions, product launches, expansions, and product life cycle matrix is also a part of this report. Some of the major players operating in the global cord stem cell banking market are CBR Systems, Inc., Cordlife, CryoCell, Cryo-Save AG, Lifecell, Stemcyte, Viacord, Smart Cells International, Ltd., Cryoviva India and China Cord Blood Corporation among others.