Cord Blood Banking Services Market Analysis, Company Profile and Comprehensive Research Study Till 2030
The global cord blood banking services market is expected to exhibit a robust 11.4% CAGR over the forecast period from 2017 to 2023, according to a new report from Market Research Future (MRFR). The global cord blood baking services market is likely to be driven by the growing research into the medical utility of stem cells and cord blood, and the growing establishment of the infrastructure required to create a cord blood banking services network.
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. Stem cells retain the basic genetic structure of an individual in the form of pluripotent cells that can be turned into a wide variety of cell types within the human body. This has made them highly important in the research field of diseases such as blood-related diseases, immune system diseases, cancers, and metabolic disorders. Cord blood banking remains the most effective way of acquiring, storing, and harnessing stem cells, making the cord blood banking services market likely to grow over the forecast period.
The rising government support to the cord blood banking services market demand sector and increasing private investment in the field are also likely to be vital for the global cord blood banking services market over the forecast period.
Segmentation:
The global cord blood banking services market has been segmented based on storage service, component, application, end user, and region.
By Storage Service
Hybrid cord blood banks
Private cord blood banks
Public cord blood banks
By Components
Cord blood
Cord tissue
Placenta
Others
By Application
Cancers
Immune Disorders
Blood Disorders
Metabolic Disorders
Osteoporosis
By End-user
Hospitals (medical applications)
Research institutes (scientific research)
Pharmaceutical research (drug discovery)
Others
Competitive Analysis:
Leading players in the global cord blood banking services market include
China Cord Blood Corporation
CBR Systems Inc.
Virgin Health Bank
Vita 34 International
Stem Cell Cryobank Inc.
Americord Registry
Others
Regional Analysis:
The global cord blood banking services market is segmented by region into the Americas, Europe, Asia Pacific, and the Middle East and Africa.
The Americas, followed by Europe, is expected to retain the dominant share in the global cord blood banking services market over the forecast period due to the widespread adoption of cord blood banking services in the region. Research efforts in the use of stem cells for medical purposes are also rife in the region, leading to strong growth prospects for the cord blood banking services market in the region. The increasing awareness about the utility of stem cells in treating a wide range of disorders in North America is also likely to be a major driver for the cord blood banking services market in the Americas over the forecast period.
Europe is also likely to retain a significant share in the global cord blood banking services market over the forecast period due to the growing use of stem cells in medical applications and growth in the related infrastructure.
Industry Updates:
In January 2019, Cellular Engineering Technologies and the John Paul II Medical Research Institute, along with the University of Iowa, announced success in their efforts to create pluripotent stem cells safely from cord blood obtained from donors.
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