Human Stem Cell Banks in the US Industry Market Research Report Now Available from IBISWorld

Share Article

The storage of stem cells, usually in the form of cord blood, is a growing industry. Its success has been fostered by developments in medical stem-cell applications, which have been progressing at a quick pace. Despite pressure from opponents of human cell storage, the Human Stem Cell Banks industry is forecast to expand at an accelerating rate over the next five years. Progress in stem-cell therapies will gain in prominence in the public mind, making the practice of banking stem cells more widespread. Individuals will also be in a better position to pay for industry services as the economic environment continues to recover. For these reasons, industry research firm IBISWorld has added a report on the Human Stem Cell Banks industry to its growing industry report collection.

IBISWorld Market Research

IBISWorld Market Research

Competition from public banks has been restraining industry revenue growth

The storage of stem cells, usually in the form of cord blood, is a growing industry. During the five years to 2012, revenue is expected to increase 7.3% annually on average to $435.0 million. According to IBISWorld industry analyst Sophia Snyder, the Human Stem Cell Banks industry’s success has been fostered by developments in medical stem-cell applications, which have been progressing at a quick pace. Still, banks that preserve stems cells have been challenged by opponents who claim that the storage process may render the cells useless when they are ultimately needed. And some healthcare professionals, including the American Academy of Pediatrics, argue that storing a person's cells privately is less beneficial than donating to a public bank.

Competition from public banks has been increasing during the past five years because of the argument that public banks can help the greater population by increasing access to stem cells for medical treatment. Public banks are also substantially less costly for individuals. “The high cost of storing stem cells in private banks has been a prohibitive factor for many consumers,” Snyder says, “particularly during the economic recession.” As a result of falling consumer sentiment, industry revenue declined in 2009, but stem cell banks have been making a strong recovery since. Growth is expected to reach a record high in 2012, bolstered by the improving economic environment, further advances in stem-cell applications and a favorable regulatory environment. The Human Stem Cell Banks industry includes well-known companies such as Cord Blood Registry Systems, Cryo-Cell, PerkinElmer (which operates through ViaCord) and Celgene Corporation (which operates through Lifebank USA). These companies have historically dominated the industry and, thus, benefit from significant brand-name recognition and partnerships with medical research facilities and suppliers.

Stem cell banking is forecast to expand at an accelerating rate over the next five years. Progress in stem-cell therapies will gain in prominence in the public mind, making the practice of banking stem cells more widespread. Individuals will also be in a better position to pay for industry services as the economic environment continues to recover. The strong growth of stem-cell banks will entice more entrants into the industry, thereby pressuring operating profit margin down slightly as companies compete on the basis of price. In an effort to reduce costs, employment in the industry is forecast to decline. At the same time, competition from public stem-cell banks is forecast to heighten. Public banks will benefit from the effects of healthcare reform that encourage preventative medicine and greater access to healthcare for all individuals. For more information, visit IBISWorld’s Human Stem Cell Banks in the US industry report page.

Follow IBISWorld on Twitter: https://twitter.com/#!/IBISWorld
Friend IBISWorld on Facebook: http://www.facebook.com/pages/IBISWorld/121347533189

IBISWorld industry Report Key Topics

Human stem cell banks collect, test, preserve and deliver stem cells from donors either for preparation of cell lines for use in research, or for future use through banking umbilical cord blood. Stem cells are cells (the functional basic unit of life) that have the potential to differentiate into a variety of tissue. This industry excludes public stem cell banks and companies that primarily research, develop and manufacture therapeutic products using stem cells.

Industry Performance
Executive Summary
Key External Drivers
Current Performance
Industry Outlook
Industry Life Cycle
Products & Markets
Supply Chain
Products & Services
Major Markets
Globalization & Trade
Business Locations
Competitive Landscape
Market Share Concentration
Key Success Factors
Cost Structure Benchmarks
Barriers to Entry
Major Companies
Operating Conditions
Capital Intensity
Key Statistics
Industry Data
Annual Change
Key Ratios

About IBISWorld Inc.
Recognized as the nation’s most trusted independent source of industry and market research, IBISWorld offers a comprehensive database of unique information and analysis on every US industry. With an extensive online portfolio, valued for its depth and scope, the company equips clients with the insight necessary to make better business decisions. Headquartered in Los Angeles, IBISWorld serves a range of business, professional service and government organizations through more than 10 locations worldwide. For more information, visit http://www.ibisworld.com or call 1-800-330-3772.

Share article on social media or email:

View article via:

Pdf Print

Contact Author

Gavin Smith
Visit website