Global Cord Blood Banking Service Market, By Storage Services (Public, Private, Hybrid), Component (Cord Blood, Placenta), Application (Cancers, Blood Disorders), End-User (Hospitals, Pharmaceutical Research), Country (U.S., Canada, Mexico, Germany, Italy, U.K., France, Spain, Netherland, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Brazil, Argentina, Rest of South America, South Africa, Saudi Arabia, UAE, Egypt, Israel, Rest of Middle East & Africa) Industry Trends and Forecast to 2028
Market Analysis and Insights: Global Cord Blood Banking Service Market
The cord blood banking service market is expected to witness market growth at a rate of 11.23% in the forecast period of 2021 to 2028 and is expected to reach USD 4,448.33 million by 2028. Data Bridge Market Research report on cord blood banking service market analysis and insights regarding the various factors expected to be prevalent throughout the forecast period while providing their impacts on the market’s growth. The expansion of biotechnology sector globally is escalating the growth of cord blood banking service market.
Cord blood stem cells or umbilical cord blood are known to cure various chronic disease such as diabetes, blood diseases and cancer among others. Only a small amount of cord blood can be collected from a single umbilical cord that could be stored for future use. The cord blood comprises of large number of stem cells and thus, they are collected from hospitals and nursing homes for storing in cord blood banks for future use. The storage ranges between 20 to 25 years.
The rise in awareness about the benefits of the cord blood containing stem cells acts as one of the major factors driving the growth of cord blood banking service market. The increase in the number of research and development activities in biotechnology sector and the rise in the applications of cord blood and stem cells in genetic disease treatment for curing numerous chronic diseases accelerate the market growth. The wide availability of service providers across the globe and increase in the focus of federal agencies to set up public banking units, further influence the market. Additionally, enhanced healthcare infrastructure, urbanization and digitization, growth in awareness, research and development and surge in investment positively affect the cord blood banking service market. Furthermore, rise in the burden of genetic disorders and advancement in the biotechnology sector extends profitable opportunities to the market players in the forecast period of 2021 to 2028.
On the other hand, high cost associated with the storage and collection, and risk of non-usability of the unit stored with private bank is expected to obstruct the market growth. The presence of stringent regulatory requirements, ethical issues, and dilemma in choosing private or public banks are projected to challenge the cord blood banking service market in the forecast period of 2021-2028.
This cord blood banking service market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on cord blood banking service market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Cord Blood Banking Service Market Scope and Market Size
The cord blood banking service market is segmented on the basis of storage services, component, application, and end-user. The growth amongst these segments will help you analyze meagre growth segments in the industries, and provide the users with valuable market overview and market insights to help them in making strategic decisions for identification of core market applications.
- On the basis of storage services, the global cord blood banking services market is segmented into public cord blood banks, private cord blood banks, and hybrid cord blood banks.
- On the basis of component, the global cord blood banking services market is segmented into cord blood, cord tissue, placenta, and others.
- On the basis of application, the global cord blood banking services market is segmented into cancers, blood disorders, metabolic disorders, immune disorders, and osteoporosis.
- On the basis of end-user, the global cord blood banking services market is segmented into hospitals, pharmaceutical research, research institutes and others.
Global Cord Blood Banking Service Market Country Level Analysis
The cord blood banking services market is analyzed and market size insights and trends are provided by country, storage services, component, application, and end-user as referenced above.
The countries covered in the cord blood banking services market report are the U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
North America dominates the cord blood banking services market because of the presence of private players and high awareness among the population within the region. Europe is considered as the second-largest market owing to high healthcare expenditure and awareness regarding available services. Asia-Pacific is estimated to grow in the forecast period of 2021-2028 due to the presence of emerging countries such as China, Japan, India, and Hong Kong and rise in investments in healthcare sector in the region.
The country section of the cord blood banking services market report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as consumption volumes, production sites and volumes, import export analysis, price trend analysis, cost of raw materials, down-stream and upstream value chain analysis are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Healthcare Infrastructure Growth Installed Base and New Technology Penetration
The cord blood banking services market also provides you with detailed market analysis for every country growth in healthcare expenditure for capital equipment, installed base of different kind of products for cord blood banking services market, impact of technology using life line curves and changes in healthcare regulatory scenarios and their impact on the cord blood banking services market. The data is available for historic period 2010-2019.
Competitive Landscape and Cord Blood Banking Service Market Share Analysis
The cord blood banking services market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to cord blood banking services market.
The major players covered in the cord blood banking services market report are CBR Systems, Inc., Americord Registry LLC., CORDLIFE GROUP LIMITED, Cryo-Cell International, Inc., ESPERITE NV, Cord for Life, National Cord Blood Program, ViaCord., Precision Cellular Storage Ltd., Global Cord Blood Corporation, 21st Century Medicine, America’s Blood Centers., Canadian Blood Services., Takeda Pharmaceutical Company Limited., Shanghai RAAS, Macopharma, Haemonetics Corporation, Abbott., and Beckman Coulter, Inc., among other domestic and global players. Market share data is available for global, North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America separately. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
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