According to the report published by Allied Market Research, the global Cord Blood Banking Services Market generated $1.3 billion in 2020, and is projected to reach $4.5 billion by 2030, growing at a CAGR of 13.3% from 2021 to 2030. The study analyzes the important strategies, drivers, competition, market dynamics, size, and important investment regions.
Key Takeaways:
Growing Awareness: The market for cord blood banking services has seen increased awareness among expectant parents about the potential benefits of storing their baby’s cord blood. This awareness has been driven by various factors, including medical advancements and successful cord blood transplant cases.
Increasing Adoption of Stem Cell Therapies: The rise in stem cell research and therapeutic applications has contributed to the growth of the cord blood banking industry. Cord blood stem cells have shown promise in treating various diseases and disorders, including certain cancers, blood disorders, and immune-related conditions.
Private vs. Public Banks: There are two primary types of cord blood banks: private and public. Private cord blood banks allow families to store their baby’s cord blood exclusively for their own use, while public banks store cord blood units for general use by anyone in need. The balance between these two types of banks has been shifting over the years.
Regulatory Landscape: Cord blood banking services are subject to various regulations and guidelines in different countries. The regulatory environment can impact the growth and operation of the industry, and companies in this market must comply with relevant standards to ensure the quality and safety of stored cord blood.
Technological Advancements: Advancements in cord blood processing, cryopreservation, and storage technologies have improved the efficiency and viability of stem cells, making cord blood banking more attractive to parents.
Request Sample Copy of Report: https://www.alliedmarketresearch.com/request-sample/111
Market Drivers:
Medical Advancements: Advances in medical research and technology have expanded the potential therapeutic applications of cord blood stem cells. Clinical trials and successful transplant cases have demonstrated the efficacy of cord blood in treating various diseases, including leukemia, lymphoma, and certain genetic disorders.
Increasing Awareness: Growing awareness among expectant parents about the benefits of cord blood banking has driven the demand for these services. Educational campaigns, healthcare provider recommendations, and media coverage have all played a role in raising awareness about the potential uses of cord blood stem cells.
Market Segmentation:
Service Type:
Private Cord Blood Banking: Families store their baby’s cord blood exclusively for their own use. This segment allows parents to have access to the stem cells if needed for potential future therapies.
Public Cord Blood Banking: Cord blood units are donated and stored for general use by anyone in need of a stem cell transplant. Public banks facilitate the availability of genetically diverse stem cell units for patients who require them.
Storage Type:
Directly Related Storage: In this type, cord blood is stored specifically for the baby from whom it was collected. It offers personalized and direct access to the stem cells for the donor child.
Sibling Related Storage: Cord blood is stored for a child’s sibling, providing potential matching stem cells for both siblings, thus increasing the likelihood of a successful transplant.
End-User:
Hospitals: Hospitals often have tie-ups with cord blood banks to facilitate the collection and storage of cord blood for interested parents.
Research Institutes and Biotechnology Companies: Cord blood banks may collaborate with research institutes and biotech companies for stem cell research and therapeutic development.
Individuals: Expectant parents who opt for cord blood banking services for their child’s future medical needs.
Geography:
North America: This region includes the United States and Canada, which have well-established cord blood banking markets.
Europe: Various European countries have seen significant growth in cord blood banking services.
Asia-Pacific: Emerging economies in this region have shown increasing interest in cord blood banking, with countries like China and India contributing to market growth.
Latin America: Countries in Latin America are witnessing an increasing adoption of cord blood banking services.
Ask to Our Industry Expert: https://www.alliedmarketresearch.com/purchase-enquiry/111
The key players of the market analyzed in the global cord blood banking services market report include Cord for Life, National Cord Blood Program, Cordvida, Perkinelmer Inc., Americord Registry LLC, China Cord Blood Corporation, Covis Group, Cordlife Group Limited, Cryo-Cell International, Inc., and Lifecell international Pvt. Ltd.
Regional Growth Dynamics:
Based on region, the market across North America held the lion’s share in 2020, garnering nearly one-third of the total market. The LAMEA, on the other hand, is expected to cite the fastest CAGR of 13.8% during the forecast period.
PURCHASE FULL REPORT: https://www.alliedmarketresearch.com/cord-blood-banking-services-market/purchase-options
ALUE PROPOSITIONS RELATED TO THE REPORT:
Powered with Complimentary Analyst Hours and Expert Interviews with Each Report
Comprehensive quantitative and qualitative insights at segment and sub-segment level
Covid 19 impact trends and perspective
Granular insights at global/regional/country level
Deep-rooted insights on market dynamics (drivers, restraints, opportunities) and business environment
CUSTOMIZATION OPTIONS:
Distributor Landscape Assessment
Pricing Intelligence
Customer Base Assessment
Investment & Initiatives Analysis
‘Business Profile’ of Key Players
Browse more latest healthcare reports:
Spinal Muscular Atrophy Treatment Market
About Allied Market Research:
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domains. AMR offers its services across 11 industry verticals including Life Sciences, Consumer Goods, Materials & Chemicals, Construction & Manufacturing, Food & Beverages, Energy & Power, Semiconductor & Electronics, Automotive & Transportation, ICT & Media, Aerospace & Defense, and BFSI.