The market for cell banking is expanding rapidly, with a global estimate market of $5 billion USD in 2022. However, according to new research from DataM Intelligence, the market is expanding at a 15.68% compound annual growth rate and is expected to hit an estimate valuation of $15.9 billion USD by 2031.
According to its report, “The Stem Cell Banking market focuses on the collection, processing, and storage of stem cells from sources like umbilical cord blood, bone marrow, and adipose tissue for future medical use. Rising awareness of regenerative medicine, advancements in stem cell therapies, and increasing prevalence of chronic diseases are driving market growth globally.”
What makes this market so exciting for companies like CytoMed Therapeutics (NASDAQ: GDTC), outside its remarkable CAGR, is the utility of umbilical cord blood.
As noted in a review article by The National Library of Medicine, “While cord blood is primarily utilized in allogeneic hematopoietic cell transplantation, the development of novel cell therapy products from cord blood is a growing and developing field.
“Compared to adult blood, cord blood is characterized by a higher percentage of hematopoietic stem cells and progenitor cells, less mature immune cells that retain a high capacity of proliferation, and stronger immune tolerance that requires less stringent HLA-matching when used in the allogenic setting.
“… cord blood lends itself as a readily available and safe starting material for the development of off-the-shelf cell therapies. Moreover, non-hematologic cells… also have potential in regenerative medicine and inflammatory and autoimmune conditions.”
For these reasons, among others, CytoMed Therapeutics, through its subsidiary IPSC Depository, recently acquired certain assets of Malaysian cord blood bank, Cellsafe International.
Evelyn Tan, IPSC Depository CEO said, “This acquisition seeks to unlock the therapeutic potential of umbilical cord blood and adds a new strategic dimension targeting longevity and wellness.
“While CytoMed, our publicly listed holding company, will continue to focus on cancer therapeutics, our new subsidiary, LongevityBank will focus exclusively on the regenerative medicine market, with its ultimate goal to be potentially spun off in the future.”
Research from SNS Insider shows the Regenerative Medicine Market is projected to be valued at $235.98 billion by 2032. By obtaining and growing a foothold in this particular segment, CytoMed Therapeutics, through its subsidiaries, looks to grow not only its market shares, but also to diversify its overall product offerings in the health and wellness space.
Read the DataM Intelligence report on the stem cell banking market, HERE
Or see the latest press releases from CytoMed Therapeutics (NASDAQ: GDTC), HERE
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