Cord Blood Banking Services Market Overview

The cord blood banking services market report prepared by Market Research Future (MRFR) reveals that the cord blood banking services market size can rise at about at 13.2% CAGR from 2022 to 2030 The emerging cord blood transplant trend is identified as a robust cause that can underpin the market rise. The extensive cord blood banking practice future application and increase in demand for preserved cord blood solutions for medical therapies can favor expansion of the market. The growing cases of genetic disorders creating the need for hematopoietic stem cell transplantation can drive the market in the near future. The increase in preference for stem cells derived from bone marrow-based treatment can promote expansion of the market in the study period. The cord blood banking market condition is assessed for its future potential and detailed in the report.

Factors such as increasing the use of Cord Blood Banking Services Market Share 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. The rising government support to the cord blood banking services 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. Due to the fragile and perishable nature of cord blood and stem cells, adequate storage infrastructure has to be put in place before efforts are made to retrieve and acquire stem cells from cord blood. Like regular blood, cord blood and stem cells also require significant efforts in terms of refrigeration and hygiene in order to maintain the stem cells in a viable form. The growing government support to expansion of the healthcare sector and increase in the adoption of and research into stem cells is likely to be a major driver for the global cord blood banking services market over the forecast period.

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.

Cord Blood Banking Services Market Segmentation

  • The segment assessment for the global cord blood banking services market is based on component, storage service, end-user, and application.
  • The storage service-based segments of the global cord blood banking services market are private cord blood banks, public cord blood banks, and hybrid cord blood banks.
  • The component-based segments of the global cord blood banking services market are placenta, cord blood, and cord tissue among others. The placenta segment can win considerable profit.
  • The application-based segments of the global cord blood banking services market are metabolic disorders, cancers, blood disorders, osteoporosis, and immune disorders. The growing number of immune disorders can promote expansion of the market in the near future.
  • The end-user-based segments of the global cord blood banking services market are pharmaceutical research (drug discovery), hospitals (medical applications), and research institutes (scientific research) among others.

Cord Blood Banking Services Market 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.

Cord Blood Banking Services Market Players

  • China Cord Blood Corporation (China)
  • Cord Blood America Inc. (U.S.)
  • CBR Systems Inc. (U.S.)
  • Cordlife Group Limited (Singapore)
  • 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)
  • Others

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

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