Cord Blood Banking Services Market to Grow at a CAGR of 10.9% from 2019 to 2027, Reaching US$ 64.7 Million: As per TMR Study

𝐂𝐨𝐫𝐝 𝐛𝐥𝐨𝐨𝐝 𝐛𝐚𝐧𝐤𝐢𝐧𝐠 𝐬𝐞𝐫𝐯𝐢𝐜𝐞𝐬 𝐦𝐚𝐫𝐤𝐞𝐭 to reach US$ 64.7 Mn by 2027, it is anticipated to expand at a CAGR of 10.9% from 2019 to 2027.

𝐊𝐞𝐲 𝐃𝐫𝐢𝐯𝐞𝐫𝐬:

High Incidence of Genetic Disorders and Increase in Government Funding are Likely to Drive the Market Growth

Cord blood banking services primarily used in treating genetic disorders such as cancer.

High incidence of various cancers worldwide expected to boost the cord blood banking services market.

Increasing cases of lymphoma, leukemia, immune conditions, and sarcoma noted in countries like U.S., China, India, and European nations.

According to WHO, approximately 509,590 new Non-Hodgkin lymphoma cases were reported in 2018, with 248,724 deaths attributed to the disease.
Growing cancer patient population driving demand for cord blood banking services.

Increased government funding, like the $38 million investment by the National Institute of Health in umbilical cord blood cell research in 2019, contributing to market growth.

𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝 𝐒𝐚𝐦𝐩𝐥𝐞 𝐏𝐃𝐅:
https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=1741&utm_source=OpenPR&utm_medium=OpenPR&utm_campaign=MansiR

𝐂𝐨𝐦𝐩𝐞𝐭𝐢𝐭𝐢𝐯𝐞 𝐋𝐚𝐧𝐝𝐬𝐜𝐚𝐩𝐞:

Global Cord Blood Corporation,California Cryobank Stem Cell Services LLC, Inc.,CBR Systems, Inc.,Cordlife Group Limited,Cryo-Cell International, Inc,Cryo-Save AG,Lifeforce Cryobanks,National Cord Blood Program,ViaCord, Inc.,Virgin Health Bank

𝐒𝐞𝐠𝐦𝐞𝐧𝐭𝐚𝐭𝐢𝐨𝐧:

𝐓𝐲𝐩𝐞

Private Cord Blood Bank
Public Cord Blood Bank

𝐊𝐞𝐲 𝐃𝐞𝐯𝐞𝐥𝐨𝐩𝐦𝐞𝐧𝐭𝐬:

In June 2020, Cryo-Cell International, Inc. entered into a patent option agreement with Duke University for to develop novel cord blood and birthing tissue based cellular therapeutics.

In May 2018, California Cryobank Stem Cell Services LLC acquires Cord Blood America Inc. for business expansion

In 2017, the Cord Blood Registry (CBR) Systems collaborated with the New York Stem Cell Foundation (US) to develop induced pluripotent stem cells from umbilical cords.

𝐏𝐥𝐚𝐜𝐞 𝐚𝐧 𝐎𝐫𝐝𝐞𝐫 𝐂𝐨𝐩𝐲 𝐨𝐟 𝐭𝐡𝐞 𝐑𝐞𝐩𝐨𝐫𝐭:
https://www.transparencymarketresearch.com/checkout.php?rep_id=1741<ype=S&utm_source=OpenPR&utm_medium=OpenPR&utm_campaign=MansiR

𝐇𝐢𝐠𝐡 𝐂𝐨𝐬𝐭 𝐚𝐧𝐝 𝐒𝐭𝐫𝐢𝐧𝐠𝐞𝐧𝐭 𝐑𝐮𝐥𝐞𝐬 𝐚𝐧𝐝 𝐑𝐞𝐠𝐮𝐥𝐚𝐭𝐢𝐨𝐧𝐬 𝐭𝐨 𝐇𝐚𝐦𝐩𝐞𝐫 𝐌𝐚𝐫𝐤𝐞𝐭

The collection of cord blood is observed to be painless and safe for both the child and mother, cost of private banking can pose as a major hurdle in adoption of this service, especially in the developing and underdeveloped countries. The average cost for collection, testing, and processing of cord blood units is approximately US$ 1,600 with the recurring annual charges of approximately US$ 150. Such chargeable services include testing for infectious diseases, typing, and contamination.

Stringent Rules and Regulations for cord blood banking services is another major factor for hamper the growth of this market.

𝐅𝐮𝐭𝐮𝐫𝐞 𝐎𝐮𝐭𝐥𝐨𝐨𝐤:

The future of the cord blood banking services market appears promising, with ongoing research and technological advancements expected to unlock new opportunities for therapeutic applications and expand the market reach globally.

𝐊𝐞𝐲 𝐌𝐚𝐫𝐤𝐞𝐭 𝐒𝐭𝐮𝐝𝐲 𝐏𝐨𝐢𝐧𝐭𝐬:

Key market study points include analyzing market dynamics, evaluating regulatory landscape, assessing competitive strategies, understanding consumer preferences, and identifying growth opportunities in emerging markets.

𝐁𝐫𝐨𝐰𝐬𝐞 𝐌𝐨𝐫𝐞 𝐑𝐞𝐩𝐨𝐫𝐭𝐬 𝐛𝐲 𝐓𝐌𝐑:

𝐂𝐨𝐧𝐜𝐫𝐞𝐭𝐞 𝐑𝐞𝐬𝐭𝐨𝐫𝐚𝐭𝐢𝐨𝐧 𝐌𝐚𝐫𝐤𝐞𝐭- https://www.globenewswire.com/news-release/2023/05/10/2665728/0/en/Concrete-Restoration-Market-is-Expected-to-See-a-Growth-of-6-7-During-the-Forecast-Period-Exclusive-Report-by-Transparency-Market-Research.html

𝐒𝐩𝐨𝐫𝐭𝐬 𝐁𝐞𝐭𝐭𝐢𝐧𝐠 𝐌𝐚𝐫𝐤𝐞𝐭- https://www.globenewswire.com/news-release/2023/05/10/2665654/0/en/Sports-Betting-Market-to-Rise-at-a-CAGR-of-9-1-during-Forecast-Period-notes-TMR-Study.html

𝐀𝐛𝐨𝐮𝐭 𝐓𝐫𝐚𝐧𝐬𝐩𝐚𝐫𝐞𝐧𝐜𝐲 𝐌𝐚𝐫𝐤𝐞𝐭 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡

Transparency Market Research, a global market research company registered at Wilmington, Delaware, United States, provides custom research and consulting services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insights for thousands of decision makers. Our experienced team of Analysts, Researchers, and Consultants use proprietary data sources and various tools & techniques to gather and analyses information.

Our data repository is continuously updated and revised by a team of research experts, so that it always reflects the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports.

𝐂𝐨𝐧𝐭𝐚𝐜𝐭:

Transparency Market Research Inc.
CORPORATE HEADQUARTER DOWNTOWN,
1000 N. West Street,
Suite 1200, Wilmington, Delaware 19801 USA
Tel: +1-518-618-1030
USA - Canada Toll Free: 866-552-3453
Website: https://www.transparencymarketresearch.com        
Email: sales@transparencymarketresearch.com
Follow Us: LinkedIn| Twitter| Blog | YouTube

This release was published on openPR.