Global cord blood banking services market is expected to exhibit a CAGR of 12.40% from 2017 to 2023. At the end of this forecast period, the market is expected to grow from US$2.389 billion in 2017 to US$4.816 billion in 2023. Cord blood banks are locations where individuals can store blood from the umbilical cord for future use and are equipped with the latest technologies with respect to medical data-keeping and storage. Cord blood banks are public or private and generally charge an annual fee for storage and maintenance. However, increasing expenditure on healthcare, and growing demand for advanced healthcare facilities including prevention and treatment. The most common applications of cord blood services include cerebral palsy, leukemia, thalassemia, anemia, autism, diabetes, and others.
Several driving factors such as rising birth rate, higher prevalence of various diseases, a rise in disposable income, and higher R & D in the stem cell therapy to increase the potential for application for treatment of various diseases. The awareness about cord blood banks is also rising due to growing awareness among the population which is mainly lead by marketing activities conducted by private vendors. However, high competition couple high cost of maintenance is anticipated to hinder growth of cord blood baking services market. Also, one of the major challenges for the global cord blood bank services market is lack of standard accreditation across the industry.
This research study examines the current market trends related to the demand, supply, and sales, in addition to the recent developments. Major drivers, restraints, and opportunities have been covered to provide an exhaustive picture of the market. The analysis presents in-depth information regarding the development, trends, and industry policies and regulations implemented in each of the geographical regions. Further, the overall regulatory framework of the market has been exhaustively covered to offer stakeholders a better understanding of the key factors affecting the overall market environment.
Identification of key industry players in the industry and their revenue contribution to the overall business or relevant segment aligned to the study have been covered as a part of competitive intelligence done through extensive secondary research. Various studies and data published by industry associations, analyst reports, investor presentations, press releases and journals among others have been taken into consideration while conducting the secondary research. Both bottom-up and top-down approaches have been utilized to determine the market size of the overall market and key segments. The values obtained are correlated with the primary inputs of the key stakeholders in the value chain of cord blood banking services market. The last step involves complete market engineering which includes analyzing the data from different sources and existing proprietary datasets while using various data triangulation methods for market breakdown and forecasting.
Market intelligence is presented in the form of analysis, charts, and graphics to help the clients in gaining faster and efficient understanding of the market.
Major industry players profiled as part of the report are CBR Systems, Inc., Cordlife, Cryo-Cell, Cryo-Save AG, LifeCell, and Stemcyte among others.
The cord blood banking services market has been analyzed through the following segments:
By Bank Type
Public Cord Blood Banks
Private Cord Blood Banks
Collection and Transportation
Middle East and Africa