Cord Blood Banking Services Market Size, Share, Demand and Growth By 2030
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 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.
However, strict regulatory standards, ethical concerns, and the dilemma of choosing private or public banks are vital factors that impede the growth of the market. In addition, the high cost of storage, collection, and risk of unusability of a private bank-stored unit further reduces the growth of the global market for cord blood banking services.
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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
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