Global Cord Blood Banking Services Market was valued US$ XX Bn in 2019 and is expected to reach US$ 85.60 Bn by 2027, at a CAGR of 12.20 % during a forecast period.
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Cord blood is an excellent source of stem cells for hematopoietic stem cell transplantation in children with some fatal diseases. It is typically collected after the baby is delivered and the cord is cut. Cord blood includes blood-forming stem cells, which can be used in the treatment of patients with genetic disorders, deficiency blood cancers like leukemias and lymphomas.
Global Cord Blood Banking Services Market, Dynamics:
The healthcare spending capacity is increasing the demand for advanced healthcare facilities for disease prevention and treatment. Parents are increasing the demand for CBB services to ensure the safety of their child’s future. Growth in death rate associated with complications during childbirth and prevalence of cancers like lymphoma, leukemia, various genetic are expected to drive the global cord blood banking services market. Also, Governments are promoting public cord blood banking to develop an ethnically diverse cord blood repository is expected to increase the chances of finding suitable human leukocyte antigen (HLA) match for the patients.
On the other hand, strict regulatory requirements, and dilemmas for selection private or a public bank are some of the factors that are expected to limit the global cord blood banking services market. High cost of storage and collection and risk of non-usability of the unit stored with the private bank are also expected to hamper the global cord blood banking services market.
The development of universal screening for severe immunodeficiency assay is expected to increase the number of cord blood transplants. Both public and private cord blood banks hold hundreds of thousands of cord blood units designated for the treatment of fatal or debilitating illnesses across the globe. In public cord blood banks, there are no placements or maintenance fees. For private cord blood banks, a placement fee of $1350 to $2300 and an annual maintenance fee of $100 to $175 are required of families.
The laws and regulations for cord blood banking vary greatly from country to country, which complicates the movement of critically needed cells. The Cord Blood Association (CBA) has developed model criteria for banking rules and regulations. The purpose of the model criteria is to harmonize regulations among countries where regulations currently exist, guide the development of regulations in countries where few exist and assist cord blood banks, which are not accredited.
Global Cord Blood Banking Services Market, Segment Analysis:
Currently, public and private cord blood banking systems serve different purposes. Public cord blood banking is the most preferred method of collection, which is used in transplantation in infants and children with fatal diseases like blood disorders, immune deficiencies, and metabolic disorders. The public cord blood banking serves parents who elect to store their children’s cord blood for potential self-use later in life. Public cord blood banks store donated blood for non–self-use by individuals in the general public. New developments in cord blood stem cell research are expected to demonstrate a requirement for the use of autologous or close-relative cord blood in a private banking system.
Global Cord Blood Banking Services Market, Regional Analysis:
North America region held the dominant position and is projected to continue its dominance during the forecast period. As of 2017, there are 28 public cord blood banks in North America. An increase in the volume of patients with damaged bone marrow or defective immune system, several genetic disorders like Down syndrome among the new-born babies in the United States are expected to drive the North America market growth. U.S. cord blood banking services market is expected to grow at a 12.50% rate of CAGR during the forecast period. An increase in awareness regarding benefits of cord blood (CB) among the population, tissue, and placenta storage and presence of the number of service providers offering services at competitive prices are some of the prominent drivers behind the market growth.
On the other hand, the Asia Pacific region is expected to contribute XX% share in the global cord blood banking services market during the forecast period. The region presently grasps a minimal share in the global market and expected to exhibit an enormous growth potential in the market. The rise in awareness of stem cell banking and the vast improvement in health care reforms in countries like Malaysia, India, Indonesia, and China is expected to boost the regional market growth.
Global Cord Blood Banking Services Market, Competitive Analysis:
Some of the prominent key players operating in the market are implementing mergers & acquisitions to expand their geographical footprint. For instance, in 2019, Cord Blood Registry acquired Natera Inc's Evercord. The acquisition has assisted to CBR in working closely with Natera to ensure a smooth transition for customers and ordering clinics.
India Cord Blood Banking Services Provider:
Global Cord Blood Banking Services Market1The objective of the report is to present a comprehensive analysis of the Global Cord Blood Banking Services Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that includes market leaders, followers, and new entrants by region. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors by region on the market has been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.
The report also helps in understanding Global Cord Blood Banking Services Market dynamics, structure by analyzing the market segments and projects the Global Cord Blood Banking Services Market size. Clear representation of competitive analysis of key players by Application, price, financial position, Product portfolio, growth strategies, and regional presence in the Global Cord Blood Banking Services Market make the report investor’s guide.
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Global Cord Blood Banking Services Market, By Type
• Public
• Private
Global Cord Blood Banking Services Market, By End User
• Hospitals
• Research Institutes
• Specialty Clinics
Global Cord Blood Banking Services Market, By Application
• Cancer
• Blood Disorders
• Immunodeficiency Disorders
• Metabolic Disorders
• Bone Marrow Failure Syndrome
Global Cord Blood Banking Services Market, By Region
• North America
• Europe
• Asia Pacific
• Middle East & Africa
• South America
Key players operating in Global Cord Blood Banking Services Market
• Cordlife Group Limited
• Cryo-Cell International, Inc.
• Cryo-Save AG
• Lifeforce Cryobanks
• National Cord Blood Program
• Virgin Health Bank
• China Cord Blood Corporation
• Cord Blood America, Inc.
• ViaCord, Inc.
• CBR Systems, Inc.
• Lifebank USA
• Stem Cell Cryobank Inc.
• New Jersey Cord Blood Bank
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