London, 06 October 2015: Technavio, an independent tech-focused global research firm, has announced the publication of its market research report on the global stem cell banking market 2015-2019. The adoption of stem cell banking is growing faster in larger cities and with the upper classes who have higher disposable incomes. Stem cell banking is rising due to an increase in various awareness programs being conducted. Companies such as Americord and ViaCord are promoting July as National Stem Cell Awareness month. The global stem cell banking market is expected to grow at a CAGR of 15.13% during 2014-2019.
Stem cells prove to be an effective treatment option for more than 80 diseases, including cancer, immune-deficiency disorders, and blood disorders. Many of these diseases, which have no cure, can be treated effectively with the use of stem cells obtained from the umbilical cord. These stem cells travel to the site of damage and identify the defective cells
Exciting Read: India: The New Hub For Stem Cell Banking
“Umbilical cord blood is a rich source of stem cells that can be used for transplants because of their ability to regenerate. These cells can be preserved for nearly 20 years in freezing temperatures and can be used for the treatment of diseases, such as leukemia, lymphoma, multiple sclerosis, thalassemia, multiple myeloma, and sickle-cell anemia,” says Faisal Ghaus, Vice President of Technavio Research.
To define the market conditions in the next 3-4 years, Technavio analysts have conducted in-depth analysis of the impact of market drivers, challenges and trends featuring data on product segmentations, vendor shares, growth rate by revenue and an evaluation of the different buying criteria in the order of importance.
If you are interested in more information on this topic and our upcoming research on the Global Stem Cell Banking Market 2015-2019, please send an e-mail to media@TechNavio.com
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