Umbilical Cord Blood Banking Market Future Growth Potential Analysis By 2028

Precision Business Insights published a research report on "Umbilical Cord Blood Banking Market by Storage (Public Cord Blood Banks, Private Cord Blood Banks), By Application (Cancers, Blood Disorders, Immune Disorders, Metabolic Disorders, Osteopetrosis, and Others), By End User (Hospitals (Medical Applications), Research Institutes (Scientific Research), and Pharmaceutical Research (Drug Discovery)), and Geography - Global/Region/Country Forecast to 2028"

The blood that remains inside the placenta and umbilical cord after birth is known as umbilical cord blood or cord blood. Maternal-fetal cell transfer occurs near the end of pregnancy to strengthen both the mother's and the baby's immune systems, preparing both for delivery. Umbilical cord blood has a large number of stem cells. It also has immune system cells in it. The procedure of collecting umbilical cord blood, which is subsequently removed from the source and cryogenically frozen in its stem cells or other immune system cells, is known as umbilical cord blood collection. The data is then archived for future medical applications.

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Increased acceptance of stem cell therapeutics is a key factor driving market growth, as are new applications of stem cells in disease treatment, increased spending on the management of chronic diseases, increased awareness of stem cell therapeutics, and increased mergers and acquisitions by major players, among other factors driving the cord stem cell banking market. Furthermore, increased research and development efforts in the healthcare sector, as well as technological developments and modernization in healthcare devices, would generate new chances for the cord stem cell banking market in the anticipated period of 2021-2028. However, among other things, high operating costs of stem cell treatments and a lack of knowledge in many developing economies would obstruct market expansion and will pose a significant obstacle to the growth of the cord stem cell banking market during the projection period.

Based on storage type, the umbilical cord blood banking market is segregated into hybrid banks and public banks and private banks. Based on product type, the umbilical cord blood banking market is segmented into cord blood, cord blood and cord tissue. Based on service type, the umbilical cord blood banking market is classified into collection & transportation, processing, analysis and storage. Based on source, the umbilical cord blood banking market is divided into umbilical cord blood, bone marrow, menstrual blood and peripheral blood stem. The umbilical cord blood banking market is also segmented on the basis of role of administration into cerebral palsy, thalassemia, leukemia, diabetes and autism.

The global market for these is now controlled by the regional sector of North America. In 2016, the regional sector accounted for almost 38.2% of the total market share. In the future years of the forecast period, the North American market is expected to increase at a steady rate. The increased need for cord blood preservation for research and studies is driving the market's expansion. In 2016, the US market accounted for almost 83.8 percent of the whole North American market, followed by Canada. The presence of a well-developed and well-established healthcare infrastructure is critical for market growth in the United States.

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There are several industry players working in the Umbilical Cord Blood Banking Market, which include StemCyte Inc., Cordlife Group Ltd., Cryo-Save AG, Cryo-Cell International, Inc., Cord Blood America, Inc., China Cord Blood Corporation, ViaCord Inc., CBR Systems, Inc., LifeCell, Vita 34 AG

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