Cord blood is the blood that remains in the umbilical cord and placenta, post-delivery. Cord blood contains an abundance of stem cells and immune system cells and the medical applications of these cells have been expanding at a rapid pace.
A number of factors such as the increasing prevalence of chronic diseases, growing awareness about cord blood banking, advancement in therapeutic application, huge research funding in R&D, unmet medical needs, increasing competition among market players, and increasing government assistance are a few factors propelling the growth of the global cord blood banking services market.
However, the high cost associated with cord blood banking services and lack of healthcare insurance may hamper the growth 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.
also read @ https://www.medgadget.com/2020/06/cord-blood-banking-services-market-size-2020-covid-19-impact-analysis-global-industry-research-report-growth-technology-development-trends-swot-analysis-top-company-profile-key-regions-foreca.html
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 Trends 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
North America market can dominate across the review period, following Europe. In North America, the cord blood bank services market can thrive due to rise in cases of cancer and surge in awareness about such facilities. Other causes that can support the regional market are increase in the adoption of new technologies for stem cell research and significant hike in the health care spending considering overall national budgets.
In Asia Pacific The Cord Blood Banking Services Market Trends can thrive at the high CAGR by 2023. The rapid economic expansion across India, and Indonesia among other APAC region and technical advances to support cord blood bank services can also favor regional market. The escalation of retinal disorders in the region is anticipated to market it a highly lucrative growth space for the market.
Cord Blood Banking Services Market Key Players
Norton Healthcare, Inc. (U.S.), China Cord Blood Corporation (China), CBR Systems, Inc. (U.S.), Cord Blood America, Inc. (U.S.), Cordlife Group Limited (Singapore), Cryo-Save AG (Netherland), Cryo-Cell International, Inc. (U.S.), ViaCord, Inc. (U.S.), The University of Colorado Cord Blood Bank (U.S.), Lifebank USA (U.S.), Genecord (U.S.), AlphaCord (U.S.), Cryoviva Biotech Pvt. Ltd (India), FamilyCord (U.S.), Cells4Life (UK), CariCord (U.S.), Michigan Blood (U.S.), California Cryobank Stem Cell Services LLC (U.S.), Virgin Health Bank (Qatar), StemCyte, Inc. (India), CordVida (Brazil), Lifeforce Cryobank Sciences Inc. (U.S.), CryoHoldco de Latinoamerica, Vita 34 International (Germany), S.A.P.I. De C.V. (Mexico), Maze Cord Blood Laboratories (U.S.), CorCell (U.S.), LifeCell International Pvt. Ltd (India), Viacord Processing Laboratory (VPL) (U.S.), Stem Cell Cryobank Inc. (U.S.), New Jersey Cord Blood Bank (U.S.), Americord Registry (U.S.), and Carter BlooCare (U.S.) among others key players that are studied for the global cord blood banking services market analysis.
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