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Cord Blood Banking Services Market to Touch US$ 15.23 Billion Valuation by End of 2019

06-07-2018 06:11 PM CET | Health & Medicine

Press release from: Transparency Market Research

Cord Blood Banking Services Market to Touch US$ 15.23 Billion

Cord blood banks are present around the world today. Equipped with the latest technologies with respect to medical data-keeping and storage, cord blood banks are locations where an individual can store blood from the umbilical cord for future use. Cord blood is what remains in the placenta after birth and is highly valuable in the treatment of diseases that are genetic or hematopoietic in nature. Cord blood banks can be public or private and usually charge a fee for collection as well as an annual fee for storage and maintenance.

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In terms of authority, the activities in the global cord blood banking services market are monitored and governed by bodies such as the Human Tissue Authority, Clinical Laboratory Improvement Amendments, American Association of Tissue Banks, and the American Association of Blood Banks

According to the report, the primary driver for the global cord blood banking services market is the increasing number of applications available for cord blood. This increase in scope of use will create more opportunities in this market in the near future.

The report, however, also explains a number of factors that are currently restraining the global cord blood banking services market. The greatest restraint on the market is the low availability of cord blood units around the world. Additionally, it is currently difficult to maintain cord blood banks due to the high cost involved. The global cord blood banking services market is also hindered by the storage regulations imposed on laboratories in order to prevent contamination of units.

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The report states that North America led the global cord blood banking services market in 2013, while the current growth rate is largely supplemented by the rapidly-progressing region of Asia Pacific. The Asia Pacific cord blood banking services market is growing at the fastest pace owing to the increasing disposable incomes and the increase in government support.

From a competitive perspective, the global cord blood banking services market is extremely difficult for new entrants to crack in light of such restrictions.

The key players in the global cord blood banking services market are NeoStem, Inc., Cryo-Cell International, Inc., China Cord Blood Corporation, ViaCord, Inc., Cord Blood Registry Systems, Inc., and Cord Blood America, Inc.

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Transparency Market Research is a next-generation market intelligence provider, offering fact-based solutions to business leaders, consultants, and strategy professionals.

Our reports are single-point solutions for businesses to grow, evolve, and mature. Our real-time data collection methods along with ability to track more than one million high growth niche products are aligned with your aims. The detailed and proprietary statistical models used by our analysts offer insights for making right decision in the shortest span of time. For organizations that require specific but comprehensive information we offer customized solutions through adhoc reports. These requests are delivered with the perfect combination of right sense of fact-oriented problem solving methodologies and leveraging existing data repositories.

TMR believes that unison of solutions for clients-specific problems with right methodology of research is the key to help enterprises reach right decision.

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