Umbilical cord blood storage facilities that collect it after childbirth make up the global cord blood and cell banking market. Various chronic and life-threatening disorders can be treated with stem cells from cord blood.
The hematopoietic stem cells found in cord blood differ from other cells in the body, which typically can only generate copies of themselves, when the patient is suffering from any ailments, which is one of the benefits of cord blood banking services. These potent stem cells, which are also present in bone marrow, can differentiate into several blood and immune system cell types. Over 70 different diseases are treated with stem cells, including neurological problems, cancer, immune system disorders, and genetic disorders.
Data Bridge Market Research analyses that the cord blood and cell banking market which was USD 1.5 billion in 2021, would rocket up to USD 3.97 billion by 2029, and is expected to undergo a CAGR of 12.92% during the forecast period 2022 to 2029. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team also includes in-depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.
Read Full Report Summary @ https://www.databridgemarketresearch.com/reports/global-cord-blood-and-cell-banking-market
North America dominates the cord blood and cell banking market due to the advancement in therapeutics application along with increasing awareness among the people regarding the benefits of cord blood and cell banking.
Asia-Pacific is expected to grow at the highest growth rate in the forecast period of 2022 to 2029 due to the increasing health awareness among the people and growing demand of advanced medical technology.
Some of the major players operating in the cord blood and cell banking market are:
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