Global Cord Blood Banking Services Market Size, Share, Growth, Industry Trends and Forecast 2020-2030

Cord blood is the remaining blood in the umbilical cord and placenta after childbirth. Cord blood cells are the rich source of the stem cells and these stem cells are used to treat chronic diseases. Which includes immune system diseases, cancers, diabetes, and blood-related diseases these stem cells are collected from the nursing homes or hospitals and then they are stored in the cord blood banks for the future use. They can be stored in a blood bank for around 20 to 25 years. However an only a small amount of cord blood is available in the umbilical cord, it contains large numbers of the stem cells and it is the only type of stem cell that can be stored for future use. Cord blood banks are public and private and they usually charge an annual fee for maintenance and storage of the blood. An individual can store the blood from the umbilical cord into the cord bank for future use. According to the National Foundation for Cancer Research, new cases of cancer per year in the USA consist of 10% blood cancer patients. The market is expected to witness growth due to an increase in chronic diseases amongst the populace. The global cord blood banking services market is accounted approximate USD 18.1 million in 2020 and it is expected to reach approximate USD 66.6 million by 2030 with a CAGR of 13.9% during forecast period.
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Market Dynamics and Factors:
Major driving factors of the market are growing chronic diseases and growing birth-rate amongst the populace. Countries such as the US have a high rate of chronic diseases. In addition to this, growing health concerns among the populace further boost the demand of the market. The growing healthcare sector will fuel the market during the upcoming years. Moreover, the diverse applicability of the stem cells supports this market. However, cord blood only found in the umbilical cord and it is in very less amount hence collecting stem cells and cord blood is the main challenge and opportunity in this market. Involvement of the public and private sector will also create new opportunities for the cord blood banking services market
Market Segmentation :
Global Cord Blood Banking Services Market – By Storage Service
Public Cord Blood Bank
Private Cord Blood Bank
Global Cord Blood Banking Services Market – By Application
Cancers
Blood Disorders
Others
Global Cord Blood Banking Services Market – By End-User
Hospitals
Pharmaceutical Research
Global Cord Blood Banking Services Market – By Geography
North America
U.S.
Canada
Mexico
Europe
U.K.
France
Germany
Italy
Rest of Europe
Asia-Pacific
Japan
China
India
Australia
Rest of Asia Pacific
ROW
Latin America
Middle East
Africa
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Geographic Analysis:
North America had the highest shares of the cord blood banking services in 2016, it has dominated the market and expected to continue its supremacy in upcoming years due to the growing rate of chronic diseases, technological development, and technological advancement, and growing healthcare sector will propel the cord blood banking services market in North America. Asia Pacific is expected to witness rapid growth due to rising birth-rate and increasing chronic diseases growing healthcare sector in emerging countries such as China and India, and a growing population may affect the cord blood banking services market.
Competitive Scenario:
The key players in cord blood banking services market include Cord Blood America Inc., China Cord Blood Corporation, Cordlife Group Limited, CBR Systems Inc., Cryo-Cell International Inc., Lifeforce Cryobanks, Cryo-Save AG, National Cord Blood Program, Virgin Health Bank, ViaCord Inc., CordVida, CryoHoldco, Americord, and Vita34.
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How will this Market Intelligence Report Benefit You?
The report offers statistical data in terms of value (US$) as well as Volume (units) till 2030.
Exclusive insight into the key trends affecting the Global Cord Blood Banking Services industry, although key threats, opportunities and disruptive technologies that could shape the Global Cord Blood Banking Services Market supply and demand.
The report tracks the leading market players that will shape and impact the Global Cord Blood Banking Services Market most.
The data analysis present in the Global Cord Blood Banking Services Market report is based on the combination of both primary and secondary resources.
The report helps you to understand the real effects of key market drivers or retainers on Global Cord Blood Banking Services Market business.
The 2021 Annual Global Cord Blood Banking Services Market offers:
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Regulatory outlook, best practices, and future considerations for manufacturers and industry players seeking to meet consumer demand
Benchmark wholesale prices, market position, plus prices for raw materials involved in Global Cord Blood Banking Services Market type
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