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Global Umbilical Cord Blood Banking Market to Witness Rapid Expansion at a CAGR of 11.4% during 2017-2025
Pharmaceutical Industry Research Reports - MRH
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In recent years, vast advancements in cord blood processing and storage technologies, increased awareness about stem cell therapy, and rise in applications of cord blood cells for treatment of various diseases is also propelling the market growth. Looking to these factors, analysts anticipates that the global umbilical cord blood banking market will increase at an 11.4% CAGR from 2017 to 2025. At this pace, the market is likely to reach a value of US$8,178.1 mn in 2025 which was pegged at US$3,124.4 mn in 2016.
Initially, this report includes a comprehensive executive summary, along with a market snapshot providing overall information about different segments and sub-segments considered within the scope of the study. Umbilical cord blood (UCB) is collected from the umbilical cord of a neonatal baby and also retrieved from the placenta after delivery. It has been analyzed that Umbilical cord blood is a rich source of primitive hematopoietic stem cells. Therefore, it has a strong regenerative potential for stem cell-based therapy for the treatment of non-hematological and hematological diseases. Umbilical cord blood is also used as an alternative to bone marrow treatment. As per the findings, the North America market is expected to exhibit strong growth in the next few years due to the increasing demand for stem cell research and public awareness about cord blood banking.
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Furthermore, the study provides the overall information and data analysis of the global umbilical cord blood banking market with respect to the leading market segments which are based on type of storage, major application segment, end-user and geographies. Based on storage type, it covers public cord blood banks and private cord blood banks. Based on applications, the market has been categorized into Cancers, Immune Disorders, Metabolic Disorders, Blood Disorders and Osteopetrosis.
Later, the report also profiles key players operating in the umbilical cord blood banking market which are CBR Systems, Inc., ViaCord Inc., StemCyte Inc., China Cord Blood Corporation, Cryo-Cell International, Inc., Cryo-Save AG, Cordlife Group Ltd., Cord Blood America, Inc., Vita 34 AG, LifeCell, and other prominent companies.
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