Presently, the Singapore stem cell market dominates the healthcare industry with its reliable and cost-effective methods of treatment and fewer side effects. The umbilical cord blood stem cell segment is one of the potential segments of the stem cell market, which is projected to grow in the future. Cord blood is one of the rich sources of stem cells, which are treated as waste after pregnancy or childbirth; however, this blood has huge potential to treat chronic diseases such as cancer, diabetes, and blood disease immune diseases.
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Currently, more than 80 genetic diseases can be treated with cord blood and the blood is rich source of hematopoietic stem cells. Various governments are supporting the research and clinical trials of cord blood stem cells, which is has increased the interest of healthcare companies to invest in research and commercialization of cord blood stem cell therapies. However, competition in the market is intense with companies trying to create brand awareness, therefore, compelling market players to adopt many market-based strategies. These stem cells are the only type of cells that are stored in controlled conditions due to their lower volume and higher cell count.
Cost structure of the stem cell treatment has a major impact on the growth of the stem cell umbilical cord blood market in developed countries. Stem cells collected from cord blood are used in treatment of many rare diseases that include metabolic diseases and immune diseases. The overall stem cell umbilical cord blood market is growing from clinical applications to commercialization. Companies involved in the research and commercialization of stem cell therapies are adopting approval and clinical trials as their primary strategy and product launch as their secondary strategy.
Based on the storage services, the stem cell umbilical cord blood market is segmented into private cord blood banks, public cord blood banks and hybrid cord blood banks. The private cord banks segment was the highest contributor to the market, with $1,537 million in 2019, and is estimated to reach $4,765.90 million by 2027, at a CAGR of 15.3% during the forecast period.
Based on therapeutics, the Singapore stem cell umbilical cord blood market is categorized into cancer, diabetes, blood diseases, immune disorders, metabolic disorders and other diseases. The diabetes segment was the highest contributor to the market, with $794.57 million in 2019, and is estimated to reach $2,655.58 million by 2027, at a CAGR of 16.4% during the forecast period.
Based on application, the stem cell umbilical cord blood market is categorized into transplant medicine and regenerative medicine. The regenerative medicine segment was the highest contributor to the market, with $1,854.12 million in 2019, and is estimated to reach $5,878.55 million by 2027, at a CAGR of 15.6% during the forecast period.
The Singapore stem cell umbilical cord blood market is more lucrative in North America and European countries. Most patents granted for cord blood were from the U.S. and European authorities. North America shared the largest revenue of $1,353.20 million in 2019, however Asia-Pacific is expected to grow at CAGR of 16.3% CAGR during the forecast period.
The companies offering stem cell umbilical cord blood storage services include Cordlife Group Limited, Cord Blood America, Cryo-Cell International, Medipost, Singapore Cord Blood Corporation, Americord Registry, and Cordvida.
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