Cord Blood Banking Market Are Anticipated to Lucrative Growth Opportunities In The Future By CBR Systems, Inc., Cordlife, Cryo-Save AG, FamiCord, Global Cord Blood Corporation, Americord, LifeCell, Jeevan Stem Cell Foundation, Singapore Cord Blood Bank an
Spain cord blood banking market accounted for largest share in 2018 and is forecasted to reach USD 1,992.3 million by 2025. Increasing preference for storage of cord blood in public and private banks for treatment purposes will spur country growth. Moreover, favorable government support and presence of well-established cord blood bank network will further foster Spain cord blood banking market growth.
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Cord blood banking Market will exceed USD 23 billion by 2025. Increasing research and development activities to explore new therapeutic avenues for cord blood stem cells will boost industry growth in the future. A wide array of above 80 genetic and idiopathic diseases are being cured currently. Many research institutes are focusing on developing novel therapies using cord blood stem cells for brain injuries and neurological disorders, thus driving market growth.
Application of cord blood cells for the treatment of cancer is forecasted to dominate the overall market. Growing number of cancer patients and the potential of cord blood cells for effective treatment will boost segment growth. Growing application of cord blood for treatment of non-Hodgkin's lymphoma and leukemia will spur segment growth.
Tremendous increase in number of patients suffering from life-threatening genetic disorders will act as a high impact rendering factor for cord blood banking market growth. As per the World Health Organization (WHO) estimates, in European Union, about 1 in 2000 new born babies are found to be affected by cystic fibrosis. With growing prevalence of genetic diseases, the demand for cord blood banking is estimated to grow in the future.
Hospitals business segment is expected to reach USD 13.2 billion by 2025 owing to growing need of stem cells for treatment of genetic diseases. Additionally, large number of patients prefer availing treatments in hospitals to gain holistic treatment options. Increasing prevalence of genetic diseases and growing healthcare infrastructure will boost industry growth.
Private cord blood banks segment accounted for revenue of USD 13.7 billion in 2018. Growing trend of long-term storage and preservation of cord blood cells in private banks will spur segment growth. Various discounted offers for long-term storage and rising awareness about benefits of cord blood banking will further propel industry growth in the future.
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Few of the prominent market players involved in global cord blood banking market are CBR Systems, Inc., Cordlife, Cryo-Save AG, FamiCord, Global Cord Blood Corporation, Americord, LifeCell, Jeevan Stem Cell Foundation, Singapore Cord Blood Bank and ViaCord LLC. Key players are engaged in research and development initiatives to enhance their market foothold and expand geographic reach. For instance, in January 2014, CBR Systems, Inc. announced the beginning of FDA-regulated study of cord blood stem cells to treat acquired hearing loss. This new research enabled the company to cover more aspects of applications related to cord blood thus, expanding its services platform.
Table of Content:
Chapter 1. Methodology and Scope
Chapter 2. Executive Summary
Chapter 3. Cord Blood Banking Industry Insights
Chapter 4. Cord Blood Banking Market, By Type of Bank
Chapter 5. Cord Blood Banking Market, By Services
Chapter 6. Cord Blood Banking Market, By Application
Chapter 7. Cord Blood Banking Market, By End-use
Chapter 6. Cord Blood Banking Market, By Region
Chapter 7. Company Profiles
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Global Cord Blood Banking Services Market Size, Status and Forecast 2019-2025
A cord blood bank is a facility which stores umbilical cord blood for future use. Asia Pacific market is estimated to grow at the fastest CAGR during the forecast period owing to presence of emerging countries such as China, Japan, and India.
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