A new market study on the 2022-2028 Cord Blood Banking Services Market with 100+ market data Tables, Pie Chat, and Graphs & Figures spread through Pages and easy to understand detailed analysis. At present, the market is developing its presence. The Research report presents a complete assessment of the Market and contains a future trend, current growth factors, attentive opinions, facts, and industry-validated market data. The report incorporates a broad evaluation of different methods like combinations and acquisitions, thing headways, and investigation and enhancements embraced by observable market pioneers to stay at the front line in the overall market.
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Cord blood banking is that the process of saving channel blood for future utilize. like stem cells derived from bone marrow, such protected cord blood is employed in medical treatment.
Cord blood banking is that the collection and storage of blood obtained from the epithelial duct. Umbilical blood may be a possible origin of forefather cells, which might be utilized for the reconstruction of organs, tissues, and other working areas.
Global Cord Blood Banking Services Market: Drivers
The global spread of cancer is probably going to accelerate the expansion of the world cord blood banking services market within the foreseeable future. as an example, in 2019, as per the American Cancer Society, about 1,762,450 new cancers were diagnosed within the U.S., and 606,880 will die from cancer.
Moreover, the growing number of donors’ centre is additionally likely to assist the market grow. for example, BioIVT, a groundwork model and repair provider for drug and diagnostic development, introduced a new donor Center at Tufts University Campus in Medford, Massachutilizetts, the USA in April 2020, to support academic and pharmaceutical scientists present in Covid-19, cell and gene therapy research.
North America leads the global cord blood banking services market in 2019, with a 49.0% share in terms of value, then Europe and Asia Pacific.
The size of the global cord blood banking services market was estimated to be considering US$ 26.8 Billion and is likely to witness a value of US$ 42.9 Billion with a CAGR of 6.1% during forecast period (2020-2027).
Global Cord Blood Banking Services Market: Restraints
Lack of compatible cord blood units may be a key aspect obstructing the market growth. Across North America, there’s a shortage of cord blood units, especially for minorities. The low supply of cord blood units worldwide specifically influences ethnic minorities.
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In addition, the typical cost to gather, test, and process cord blood units are US$ 1,600, and also the recurring annual fee is about US$ 100. These liable services count communicable disease, contamination testing, and typing. Public banks don’t charge for the storage and collection of cord blood units. Although, ownership and availability of the blood unit will rely on the bank. Such conditions are likely to obstruct market growth.
Global Cord Blood Banking Services Market: Opportunities
The utilize of cord blood within the therapy of neurodegenerative disease is probably going to produce beneficial growth opportunities for players within the R&D global cord blood banking services market. for example, researchers at L’Aquila University in Italy reported in April 2020 that cord blood serum-based eye drops may well be utilized successfully to cut back retinal neurodegenerative methods, like age-related devolution.
Furthermore, the utilization of cord blood within the diagnosis and treatment of cancer is probably going to contribute to the expansion of the market. as an example, researchers at Winmeck Healthcare Systems, Vietnam reported in March 2020 that cryo funiculus blood mononuclear cells are effective in producing allogeneic dendritic cells and their macrovesicles may be utilized for vaccination against cancer.
Global Cord Blood Banking Services Market: Key Takeaways
Government leads to boost cord bank licenses are driving the market growth. as an example, the National Health Commission of China issued a new policy in December 2019, that enables the applicable provincial health commissions to accept cord bank licenses in 18 pilot trade zones in China.
Furthermore, the introduction of latest screening tests is additionally a positive environment for market growth. for example, health intelligence companies CBR Systems, Inc. and Sema4 joined the military in November 2019, introducing ReadyGen, a screening test that tests a child’s DNA for over 200 conditions that might affect children 10 years ago.
Global Cord Blood Banking Services Market: Regulations
The American Association of Blood Banks (AABB) could be a non-profit coalition of organizations and individuals involved in cell transplantation and transfusion medicine. The standards developed by AABB are updated after 2 years of interval by experts within the field.
AABB licenced Cord Blood Banks are able to perform the subsequent tests on cord blood banking:
- Cord blood tests: red cell antibodies, CD + 34, ABO, Rh, bacterial or fungal infections, and WBC.
- Tests for the family: family health history.
- Tests for mothers: HIV-I and II, serum hepatitis and C, syphilis, HTLV-I and II, and CMV.
Whenever Cord bank is transmitted from any AABB licenced bank, the institution is required to report the patient’s result from such bank. It is to be noted that AABB recognition doesn’t require a particular cord blood processing method.
Global Cord Blood Banking Services Market: Key Developments
The key players within the market specialise in adopting a partnership strategy to extend their market share. for example, StemCyte, Inc. renewed its collaboration with Sharp Healthcare in August 2019, with Sharp Mary Birch Hospital for ladies and Neonatal, a middle within the US that has neonatal, maternity, and gynaecological surgery services.
Key players within the market target introducing new products to enlarge their product portfolio. for example, Americord Registry introduced Placental Tissue 2.0 in July 2019, its newest somatic cell banking product, which stores amniotic membrane directly.
Global Cord Blood Banking Services Market: Segmentation
On the basis of Type, the Global Cord Blood Banking Services Market is segmented into:
- Public Cord Blood Banking Services
- Private Cord Blood Banking Services
On the basis of Type, the Global Cord Blood Banking Services Market is segmented into:
- North America
- Latin America
- Asia Pacific
- Middle East
Global Cord Blood Banking Services Market: Competitive Landscape
Key players performing in the global cord blood banking services market are ViaCord Inc., Blood Centers of America, NeoStem Inc., Cryo-Save Group AV, Americord Registry, StemCyte Inc., Cryo-Cell International Inc., Cordlife Group Ltd., CBR Systems Inc., Cord Blood America Inc., and China Cord Blood Corporation.
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Table Of Content
Chapter No. 1 Introduction
1.1. Report Description
1.1.1. Purpose of the Report
1.1.2. USP & Key Offerings
1.2. Key Benefits for Stakehulders
1.3. Target Audience
1.4. Report Scope
Chapter No. 2 Executive Summary
2.1. Key Findings
2.1.1. Top Investment Pockets
220.127.116.11. Market Attractiveness Analysis, By Type
18.104.22.168. Market Attractiveness Analysis, By End Use
22.214.171.124. Market Attractiveness Analysis, By Region
2.2. Market Snapshot
2.3. Global Cord Blood Banking Services Market, 2017 – 2022 (USD Million)
2.4. Insights from Primary Respondents
Chapter No. 3 COVID 19 Impact Analysis
3.1. Impact Assessment of COVID-19 Pandemic, By Region
3.1.1. North America
3.1.3. Asia Pacific
3.1.4. Latin America
3.1.5. The Middle-East and Africa
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