Stem Cell Banking Market Trends

Growth Drivers

• Growing Prevalence for Cardiovascular Disease - About 29 million adults in the United States had heart disease as of 2018. Heart disease is the biggest cause of death in the US, killing over 646,000 Americans each year. Cardiovascular disease is generally brought on by issues with the blood arteries. Stem cells that matched normal blood vessels in both look and function are used to create new blood vessels. Since, they could be utilized to repair or regenerate a number of human tissues, stem cells from the bank could aid people in managing disorders including vascular and cardiovascular disease.
• Rise in Number of People with Diabetes Type I - T1D affects about 2 million people in the United States. Also, in the US, approximately 64,000 people receive a diagnosis each year. Moreover, by 2040, about 3 million Americans are anticipated to have T1D. Insulin deficiency or insufficient production in the body is a symptom of diabetes type I, which is caused by malfunctioning pancreatic cells. Preserved stem cells may be employed to transplant pancreatic stem cells into people with type 1 diabetes. These cells may be able to replace insulin-producing cells that have been damaged by an immune system in patients, solving the issue.
• Surge in Approval of Product by Regulatory Authorities - An investigational new drug (IND) application for BCDA-04, a proprietary allogeneic mesenchyme cell (MSC) population that is Neurokinin-1 receptor-positive (NK1R+), was approved by the U.S. Food and Drug Administration (FDA) in 2022, according to BioCardia, Inc., a developer of cellular and cell-derived therapeutics for the treatment of cardiovascular and pulmonary diseases.
• Growth in Prevalence of Blood Related Issues -There were about 23,709 leukemia-related deaths and about 59,609 new cases of all types of leukemia in United States in 2023. Hence owing to this the demand for stem cell banking is estimated to grow. Hematopoietic progenitor and stem cells are abundant in the placenta and cord blood (HPCs). They are successful in treating disorders such as leukemia, sickle cell anaemia, and other immunodeficiencies as a result of their capacity to develop into all other types of blood cells.
• Upsurge in Need for Brain Disease Treatment - In America, neurological disorders caused about 533,171 fatalities in 2019, of which approximately 320,042 were women and about 213,128 were men. Hence, the need for treatment is growing. The loss of cells following damage is linked to many different brain diseases. Stem cells could be used in the treatment of these conditions.

Challenges

• High Operation Cost - The costs associated with processing samples, determining their quality, preserving and storing them add up for cell, tissue, and biobanks. This excludes expenditures for the purchase and upkeep of expensive tools, chemicals, and consumables. As a result, service providers incur substantial operational costs. Additionally, it is anticipated that the expensive licensing/approval process for the establishment of stem cell banks in developed countries as well as the increasingly strict and mandatory regulatory requirements related to stem cell preservation and banking would then further increase the overall operational costs for stem cell banking service providers.
• Absence of Proper Handling Such as Freezing, Storage, and Warming
• Inaccessibility of Stem Cell Bank to People