Cord Blood Banking Market to be dominated by Rising Awareness Regarding Various Therapeutic Applications through 2027
Increasing prevalence of
hematological disorders will drive global cord blood banking market in the
forecast period, 2023-2027.
According to TechSci Research
report, “Cord
Blood Banking Market - Global Industry Size, Share, Trends, Opportunity, and
Forecast, 2017-2027”, the global cord blood banking market is anticipated to grow at a
significant rate in the forecast period, 2023-2027. The rise in number of
patients suffering from genetic disorders and growing awareness are the primary
factors driving the demand for the global cord blood banking market. Governments
of various countries are staring to extensively invest on research and
development for better treatment of diseases, and also for the expansion of
healthcare industries which is expected to influence the market growth in
upcoming years.
However,
the high operating cost of stem cell therapeutics may restrain the global cord
blood banking market growth in the forecast period.
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an in-depth TOC on "Cord Blood Banking Market"
The global cord blood banking market is segmented into service, component, application, sector, and company.
Based on the service, the market
is bifurcated into sample preservation & storage,
sample analysis, sample processing, and sample collection & transportation.
The sample preservation & storage sub-segment is
expected to hold the largest market share. This significant increase is
attributed to the growing expectant population worldwide. Currently, cord blood
units are stored as a person needs and can be done at extremely low costs,
which will ultimately help to treat life-threatening diseases later in life.
Such factors is projected to drive the global cord blood banking market storage
services over the next few years.
Based on component, the market is
divided into cord blood and cord tissue. Cord blood segment is expecting to
witness a largest market share due to hematopoietic stem cells which can form
any type of any kind of blood cell. The Cord blood is used for transplant
procedures to treat diseases such as blood disorders, metabolic diseases,
immune deficiencies, and to treat sickle cell anemia.
Based on application,
the market is divided into cancer disease, diabetes, blood disease, immune
disorders, metabolic disorders, and others. The blood disorders segment is
predicted to hold the largest market share, owing to the rising prevalence of
beta-thalassemia and various other blood-related disorders
Based on sector, the market is
divided into public cord blood banks and private cord blood banks. The Private
Bank segment is anticipated to rise the most during to forecasted period due to
its large customer base, attractive marketing practices, and generating higher
revenue in the market.
Major operating companies
operating in global cord blood banking market are:
- Americord Registry LLC
- Covis Group
- Cordlife Group Limited
- Cryo-Cell International, Inc.
- FamiCord Group
- Cordvida, Perkinelmer Inc.
- Lifecell International Pvt. Ltd.
- ViaCord LLC
- Global Cord Blood Corporation
- StemCyte, Inc.Hitachi Ltd.
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“The North America region
dominates the market and is expected to maintain its dominance in the coming
years due to growing network of stem cell banking services across the region,
ongoing approval of stem cell lines for disease, recent technological
advancements in the arena of stem cell collection and preservation techniques, Increasing
investments in healthcare sector, escalating investment by international
players to maximize the geographic reach, and thereby expand market share are
some of the factors anticipated to spur the North America cord blood banking
market Asia-pacific till 2027.” said Mr. Karan Chechi, Research Director with
TechSci Research, a research based global management consulting firm.
“Cord Blood Banking
Market - Global Industry Size, Share, Trends, Opportunity, and Forecast,
2017-2027 Segmented By Service (Sample Preservation & Storage, Sample
Analysis, Sample Processing, Sample Collection & Transportation), By
Component (Cord Blood v/s Cord Tissue), By Application (Cancer Disease,
Diabetes, Blood Disease, Immune Disorders, Metabolic Disorders, Others), By
Sector (Public Cord Blood Banks v/s Private cord Blood Banks), By Company, and
By Region”, has evaluated
the future growth potential of global cord
blood banking market and provides statistics & information on market
size, structure, and future market growth. The report intends to provide
cutting-edge market intelligence and help decision makers take sound investment
decisions. Besides, the report also identifies and analyzes the emerging trends
along with essential drivers, challenges, and opportunities in global cord
blood banking market.
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