Cord Blood Banking Services Market
Cord Blood Banking Services Market (Private and Public Cord Blood Banks) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2019 - 2027
Press Release :
- According to Transparency Market Research’s latest report on the global cord blood banking services market for the historical period 2017–2018 and forecast period 2019–2027, high incidence of genetic disorders, increasing governments funding are projected to drive the global cord blood banking services market during the forecast period
- According to the report, the global cord blood banking services market was valued at US$ 25.8 Bn in 2018 and is anticipated to expand at a CAGR of 10.9% from 2019 to 2027
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High Incidence of Genetic Disorders and Increase in Government Funding are Likely to Drive the Market Growth: Key Drivers
- Cord blood banking services are majorly used in the treatment of genetic disorders like cancer and others. High incidence of different type of cancer is likely to fuel the growth of cord blood banking services market. In recent year, the increase in number of patients with lymphoma, leukemia, immune conditions, and sarcoma in countries like U.S., China, India and European Countries. According to World Health Organization, around 509,590 new Non-Hodgkin lymphoma cases found in 2018 and 248,724 death occurred due to Non-Hodgkin lymphoma. Increasing number of people with cancer is fuel the demand for cord blood banking services.
- Increasing government funding is another major factor for drive the growth of coed blood banking market during forecasted period. In 2019, National Institute of health invested 38 Mn fund for umbilical cord blood cell research.
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Rise in Awareness about Stem Cell Therapy Along with Adoption of Cord Blood Banking Boost Market Growth
- Creating awareness among the parental population globally by effectively communicating and educating them about the process and benefits of cord blood banking and the importance of stem cell therapy is expected to drive the market growth for cord blood banking.
- Rise in awareness among the expectant parents in the U.S., Europe, and other developed regions has led to high growth of cord blood banking in these regions. Complexity of the cord blood banking process and high costs are not in compliance for customers in developing regions. Many government organizations and private players are initiating the awareness programs in emerging countries such as Brazil, China, and India.
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.
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Global Cord Blood Banking Services Market: Competitive Landscape
- This report profiles major players in the global cord blood banking services market based on various attributes such as company overview, financial overview, product portfolio, business strategies, and recent developments
- The global cord blood banking services market is highly fragmented, with the presence of a number of international as well as regional players
- Leading players operating in the global cord blood banking services market are
- 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
Global Cord blood banking services Market: Key Developments
Key players in the global cord blood banking services market are engaged in regulatory approvals, technologically advanced products, launch of new products, and acquisition & collaborative agreements with other companies. These strategies are likely to fuel the growth of the global cord blood banking services market. A few expansion strategies adopted by players operating in the global cord blood banking services market are:
- 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.
The report on the global cord blood banking services market discussed individual strategies, followed by company profiles of cord blood banking services providers. The competitive landscape section has been included in the report to provide readers with a dashboard view and a company market share analysis of key players operating in the global cord blood banking services market.
TMR’s report on the global cord blood banking services market studies past as well as current growth trends and opportunities to gain valuable insights of these indicators of the market during the forecast period from 2019 to 2027. The report provides revenue of the global cord blood banking services market for the period 2017–2027, considering 2018 as the base year and 2027 as the forecast year. The report also provides the compound annual growth rate (CAGR) for the global cord blood banking services market during the forecast period.
The report has been prepared after an extensive primary and secondary research. Primary research involved bulk of research efforts, wherein analysts carried out interviews with industry leaders and opinion makers. Extensive secondary research involved referring to key players’ product literature, annual reports, press releases, and relevant documents to understand the global cord blood banking services market.
Secondary research also included Internet sources, statistical data from government agencies, websites, company presentations, sales data, and trade associations. Analysts have employed a combination of top-down and bottom-up approaches to study various phenomenon in the global Cord Blood Banking Services market.
The report includes an elaborate executive summary, along with a snapshot of the growth behavior of various segments included in the scope of the study. Furthermore, the report sheds light on the changing competitive dynamics in the global cord blood banking services market. These indices serve as valuable tools for existing market players as well as for entities interested in entering the global cord blood banking services market.
The report delves into the competitive landscape of the global cord blood banking services market. Key players operating in the global cord blood banking services market have been identified, and each one of these has been profiled for distinguishing business attributes. Company overview, financial standings, recent developments, and SWOT are some of the attributes of players in the global cord blood banking services market that have been profiled in this report.
Key Questions Answered in Global Cord Blood Banking Services Market Report
- What is the scope of growth of product companies in the global cord blood banking services market?
- What will be the Y-o-Y growth of the global cord blood banking services market between 2019 and 2027?
- What is the influence of changing trends in technologies on the global cord blood banking services market?
- Will North America continue to be the most profitable market for cord blood banking services providers?
- Which factors are anticipated to hamper the growth of the global cord blood banking services market during the forecast period?
- Which are the leading companies in the global cord blood banking services market?
A unique research methodology has been utilized by TMR to conduct comprehensive research on the growth of the global cord blood banking services market and arrive at conclusions on its growth prospects. This research methodology is a combination of primary and secondary research, which helps analysts warrant the accuracy and reliability of the drawn conclusions.
Secondary methods referred to by analysts during the production of the global cord blood banking services market report include statistics from company annual reports, SEC filings, company websites, investor presentations, regulatory databases, government publications, and industry white papers. Analysts have also interviewed senior managers, product portfolio managers, CEOs, VPs, and market intelligence managers, who contributed to the production of TMR’s study on the cord blood banking services market as primary methods.
These primary and secondary methods have provided exclusive information during interviews, which serves as a validation from the cord blood banking services market leaders. Access to an extensive internal repository and external proprietary databases enabled this report to address specific details and questions about the global cord blood banking services market with accuracy. The study also uses the top-down approach to assess the revenues for each segment and the bottom-up approach to counter-validate them. This has helped in reaching TMR’s estimates on future prospects of the global cord blood banking services market more reliably and accurately.
Regional Segmentation of Cord Blood Banking Services Market
- North America
- Rest of Europe
- Asia Pacific
- Australia & New Zealand
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- GCC Countries
- South Africa
- Rest of Middle East & Africa
Global Cord Blood Banking Services Market - Segmentation
Private Cord Blood Bank
Public Cord Blood Bank
Middle East & Africa