Market Dynamics

Factors such as increasing the use of cord blood in the treatment of chronic diseases, raising the focus of federal agencies on setting up public banking units, raising awareness of this treatment line, and increasing number of facilities across the region are accelerating market growth.However, strict regulatory standards, ethical concerns, and the dilemma of choosing private or public banks are vital factors that impede the growth of the market. In addition, the high cost of storage, collection, and risk of unusability of a private bank-stored unit further reduces the growth of the global market for cord blood banking services.The growing realization of the utility of stem cells in treating a number of metabolic, immune, and blood disorders is likely to be a major driver for the global Cord Blood Banking Services Market over the forecast period.Cord Blood Banking Services Market is projected to reach USD 4.6 billion to grow at CAGR of approximately 13.2% from 2022-2030

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Umbilical cord blood is an abundant source of stem cells capable of treating more than 80 genetic diseases. Stem cells can also combat long-lasting illnesses such as diabetes, cancer, immune diseases, and blood disorders. Although a small amount of cord blood can be obtained from a single umbilical cord, it contains a large number of stem cells that can be developed and stored for future use. After delivery, these cells are collected from hospitals and nursing homes and deposited in cord blood banks (average 20–25 years) for potential use. Now, companies are seeking to raise awareness of the benefits of cord blood storage. For example, in 2014, the Center for Transfusion Medicine and the Cord Blood Registry combined their resources to initiate a multi-year campaign to raise awareness of cord blood cells.

 Segmentation

• On the basis of end user, the global cord blood banking services market is segmented into hospitals, pharmaceutical research, research institutes, and others.

• The global cord blood banking services market has been segmented on the basis of storage service, component, application, end user, and region.
• On the basis of storage service, the global cord blood banking services market is segmented into public cord blood banks, private cord blood banks, and hybrid cord blood banks.
• On the basis of component, the global cord blood banking services market is segmented into cord blood, cord tissue, placenta, and others.
• On the basis of application, the global cord blood banking services market is segmented into cancers, blood disorders, metabolic disorders, immune disorders, and osteoporosis.

• Browse Detailed TOC with COVID-19 Impact Analysis at: https://www.marketresearchfuture.com/reports/cord-blood-banking-services-market-5817

• Cord Blood Banking Services Market Regional Analysis

  The Asia Pacific region is projected to dominate the global market for cord blood banking services in terms of growth in the forecast period. Although the region currently has a small share of the global market, it is projected to have enormous growth potential as a result of increasing awareness of stem cell banking and significant improvements in health care reforms in countries such as Malaysia, India, Indonesia, and China. Moreover, Asia Pacific is a mostly unexplored regional market compared to developed regions, which is why it provides better opportunities for business growt

The global market for cord blood banking services consists of four regions: the Americas, Europe, Asia Pacific, and the Middle East and Africa.

The Americas region held the largest market share of the global market for cord blood banking services due to the increasing number of service providers, increasing awareness of the long-term benefits of cord blood storage, increasing investment in public banking, and reduction in storage costs. In addition, the U.S. is contributing to a significant market share for the global cord blood banking industry. Factors include a rise in per capita income, an increase in the number of storage service providers, and a high acceptance rate for new technology attributed to the largest market share.

The European cord blood banking market is the second-largest market, followed by the Asia Pacific region. 

The Middle East region is anticipated to expand at a steady pace due to growing R&D activities in the healthcare sector and the overall growth of healthcare infrastructure.

Cord Blood Banking Services Market Players

• Cryo-Cell International Inc. (U.S.)
• Cryo-Save AG (Netherland)
• ViaCord Inc. (U.S.)
• Virgin Health Bank (Qatar)
• California Cryobank Stem Cell Services LLC (U.S.)
• StemCyte Inc. (India)
• China Cord Blood Corporation (China)
• • Cord Blood America Inc. (U.S.)
  • CBR Systems Inc. (U.S.)
  • Cordlife Group Limited (Singapore)

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