Stem Cell Banking refers to the human stem cell transplantation for the purpose, with acquisition, processing, preservation and provides the ability to differentiate stem cell storage bank, has been called the "life bank". Storage per Year means the new storage of one year.
There are usually private stem cell banks and public stem cell banks. Private banking is exclusively for family and personal use. The cost of private banking varies depending on the bank, which mainly includes the initial collection of the blood and annual storage fee. It may be able to help treat a family member who is sick and needs a stem cell transplant. While the chances that the stem cells will be used are remote if there are no special conditions. In public banking, the baby\'s cord blood is donated to a public stem cell bank, where it\'s stored for use by anyone who may need it for a transplant. It may also be used for medical research.
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Korea Stem Cell Banking Market Analysis
According to our research, the Korean Stem Cell Banking market has a total sales value of 29.32 M USD back in 2015, and increased to 35.89 M USD in 2019. We made a series of functional calculation and deduced the past 5 year’s data with scientific model. Finally, we made the prediction that the value of Stem Cell Banking markets can be 52.57 M USD by 2025. The CAGR of Stem Cell Banking is 6.57% from 2019 to 2025. Stem Cell Banking sale companies are mainly from Korea; the industry concentrate rate is extremely high. The top three companies are Medipost, Sewon Cellontech and CHA Biotech with the revenue market share of 52.35%, 11.03% and 9.10% in 2019.
North America is the largest revenue market with a market value of US$2,714 million in 2019 and 39.33% in 2020, a decrease of 0.9%. Asia Pacific is the second market with a market share of 28.79% in 2019. Growing economies, increasing downstream demand, and technological innovation advancements in emerging economies such as China, India and Brazil are leading to increased demand. The global personalisation software market is expected to witness moderate growth during the forecast period due to growing demand from downstream applications. Another factor driving the growth of the personalisation software market is technological innovation.
Korea Stem Cell Banking Market Environment Analysis
The burden of chronic diseases is rapidly increasing worldwide. The potential of stem cells in the treatment of chronic diseases might lead doctors and scholars to study stem cells, and companies to deploy stem cell banks. Stem cell therapies have the potential to treat what used to be untreatable conditions, offering new treatment options for those suffering from incurable diseases. South Korea is a leading country in the industry, However，South Korea’s strict supervision has caused a large number of researchers to transfer research abroad. The rise in domestic demand, technological development, and the need for economic stimulus have made the regulatory authorities may gradually relax their regulatory policies. The "Act on the Safety and Support of Advanced Regenerative Medicine and Advanced Biopharmaceuticals" is scheduled to take effect on August 28, 2020, and the development of the bio-industry can be foreseen，which will bring development opportunities for the upstream stem cell banking industry.
In Korea, an abrupt halt in stem cell research of Korea following a massive scandal involving the cloning expert Hwang Woo-suk. In addition, it is difficult to reveal a clear mechanism of action during clinical research, and South Korea has greatly strengthened its restrictions on stem cell research and application.
Cell banks, tissue banks, and biobanks incur significant expenditures during sample processing, quality testing, and sample preservation and storage processes. In this case, the costs, which do not include spending on the purchase and maintenance of premium-priced instruments, reagents, and consumables, results in high operational costs for service providers. Moreover, increasingly stringent and mandatory regulatory requirements related to stem cell preservation and banking—as well as the costly licensing/approval process for the establishment of stem cell banks in developed nations—are expected to further contribute to the overall operational costs for stem cell banking service providers.
South Korea is one of the fastest-growing economies worldwide. South Korea performs well even in the period of COVID-19. Higher income and health awareness may increase Korean consumers\' demand for stem cell banks, especially in the context of COVID-19.
Umbilical cord stem cells segment dominates the market, as collecting cord blood for transplant use is a safe, easy, and pain-free process. Umbilical cord and placenta contain hematopoietic blood stem cells (HSCs). These are the only cells capable of producing immune system cells (red cells, white cells, and platelet). HSCs are valuable in the treatment of blood diseases and successful bone marrow transplants. Also, unlike bone marrow stem cells, umbilical cord blood has the advantage of having \'off-the-shelf\' uses as it requires no human leukocyte antigen (HLA) tissue matching.
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