Key Market Players:
As of 2017, the global stem cell banking market was dominated by Cord Blood Registry (CBR) Systems (US), Cordlife Group Limited (Singapore), Cryo-Cell International (US), and ViaCord (US). Other key players in the stem cell banking market included Cryo-Save AG (Netherlands), LifeCell International (India), StemCyte (US), Global Cord Blood Corporation (China), Smart Cells International (UK), Vita34 AG (Germany), and CryoHoldco (Mexico), among others.
Different Growth Strategies Adopted by Them:
Analysis of the market developments between 2015 and 2018 reveals that several growth strategies such as service launches & upgrades; agreements, partnerships, & collaborations; and mergers & acquisitions were adopted by the market players to strengthen and competitive position in the global stem cell banking market. Among these business strategies, agreements, partnerships, & collaborations were the most widely adopted growth strategies by majority of market players worldwide.
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Cord Blood Registry (CBR) Systems held the leading position in the global stem cell banking market in 2017. The company has a widespread presence and large customer base in the US. The company primarily focuses on advancing its umbilical cord preservation services through the adoption of inorganic growth strategies such as collaborations and partnerships.
In regard to this, in 2017, the company collaborated with the New York Stem Cell Foundation (US) to develop induced pluripotent stem cells from umbilical cords. In addition to this, in 2015, the company entered into a strategic collaboration with Global Cord Blood Corporation (China) to integrated their methodologies for the collection, processing, and storage of umbilical cords and improve the overall stem cell banking service standards in the US and China.
Cordlife secured the second position in the global stem cell banking market in 2017. The company is a leading player in the Asian stem cell banking market with its robust presence across eight countries and high-quality services. To sustain its leading position in the Asian region, the company mainly focuses on increasing its customer base through agreements. For instance, in 2017, the company entered into an agreement with IPS Trading and Service Joint Stock Company (Vietnam) to offer umbilical cord banking services and non-invasive metabolic newborn screening in Vietnam. Similarly, in 2016, the company collaborated with Bio Secure Company Limited (Myanmar) to offer umbilical cord banking services in Myanmar.
Cryo-Cell International held the third position in the stem cell banking market in 2017. The company is one of the key private stem cell banking providers in the global market. The company’s key strengths are its significant geographic presence and unique state-of-the-art technology for banking operations. The company mainly focuses on acquiring patents for the collection, testing, processing, and preservation of umbilical cord blood and tissues. For instance, in 2015, the company acquired assets of Prepacyte-CB (a cord blood business of CytoMedical Design Group LLC) to advance its existing technology for processing of cord blood and tissues.
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North America is expected to dominate the stem cell banking market in 2019
Geographically, the market is segmented into North America, Europe, Asia Pacific, and the Rest of the World. North America is expected to account for the largest share in 2019. The expanding network of stem cell banking services across the region, ongoing approval of stem cell lines for disease treatment (especially for hematopoietic & autoimmune disorders), recent technological advancements in the field of stem cell collection and preservation techniques, and rising public-private investments for stem cell researches are driving the growth of the stem cell banking market in North America.
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