Cord blood banking is the collection and storage of blood obtained from the umbilical cord. Umbilical blood is a potential source of progenitor cells, which can be used for the reconstruction of tissues, organs, and other functional areas.
Global Cord Blood Banking Services Market: Drivers
Progress in cord blood processing is likely to drive the growth of the global cord blood banking services market in the estimated period. For example, Thermogenesis Corp., a wholly owned subsidiary of Cesca Therapeutics, entered into a strategic agreement in June 2019 with Cordlife Group Ltd. to provide its own, next generation AXP II system for faster processing of Cordlife’s India processing blood units.
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Global Cord Blood Banking Services Market: Opportunities
R&D of Cord Blood Cell Enhancement Methods is likely to provide profitable growth opportunities for players in the global cord blood banking services market. For example, researchers at the Biomedical Research Institute, MEDIPOST Co, Ltd, South Korea reported in January 2020, to analyse the effects of spheroid umbilical cord blood-derived mesenchymal stem cells (MSCs) and to enhance the regenerative process during osteoarthritis, 3D spheroid formation of MSCs suggested a new therapeutic approach.
Global Cord Blood Banking Services Market: Restraints
The American Association of Blood Banks, American Association of Tissue Banks, Clinical Laboratory Improvement Administration, Therapeutic Goods Administration, and various other accredited organizations that maintain the standards and quality of cord blood banking. The facilities need to be regularly updated in the standards and their facilities need to be updated regularly for inspection by the authorities. These activities involve huge costs and paperwork, which can increase the final cost of the product. This is likely to hamper market growth.
Global Cord Blood Banking Services Market: Key Takeaways
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). Increasing rate of cancer is likely to help in the market growth.
In 2019, the Public Cord Blood Banking Services segment took the leading position in the global Cord Blood Banking Services market, considering 52.7% in terms of value due to increasing advances in cord blood processing over the estimated period.
Global Cord Blood Banking Services Market: Market Trends
The key players in the market focus on adopting M&A strategies to expand their product portfolio. For example, CBR Systems, Inc. acquired Natera, Inc. in September 2019. Evercord Cord bought the blood and tissue banking business.
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Increasing awareness about cord blood banking is likely to help the market grow. For example, Save the Cord Foundation celebrated World Rope Blood Day in November 2019.
Global Cord Blood Banking Services Market: Regulations
Europe
The Joint Recognition Committee – ISCT – EBMT (JACIE) is a non-profit organization in Europe that accredits organizations providing cell therapy. Its standards currently apply to stem cells derived from sources such as umbilical cord blood, peripheral blood, and bone marrow. The scope of JACIE recognition applies to the use of hematopoietic stem cells and stem cells such as therapeutic cells used for therapeutic purposes.
Global Cord Blood Banking Services Market: Key Developments
June 2019: US Blood Centres partnered with Team Liquid, a multinational, professional sports organization, to raise awareness of the importance of blood donation and to promote donations.
July 2019: CBR Systems, Inc. Began the process of transitioning to the next generation AXP II system of ThermoGenesis, a wholly owned subsidiary of Cesca Therapeutics, for faster processing of cord blood units.
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 1 Industry Overview
1.1 Definition
1.2 Assumptions
1.3 Research Scope
1.4 Market Analysis by Regions
1.5 Cord Blood Banking Services Market Size Analysis from 2022 to 2028
11.6 COVID-19 Outbreak: Cord Blood Banking Services Industry Impact
Chapter 2 Global Cord Blood Banking Services Competition by Types, Applications, and Top Regions and Countries
2.1 Global Cord Blood Banking Services (Volume and Value) by Type
2.3 Global Cord Blood Banking Services (Volume and Value) by Regions
Chapter 3 Production Market Analysis
3.1 Global Production Market Analysis
3.2 Regional Production Market Analysis
Chapter 4 Global Cord Blood Banking Services Sales, Consumption, Export, Import by Regions (2017-2022)
Chapter 5 North America Cord Blood Banking Services Market Analysis
Chapter 6 East Asia Cord Blood Banking Services Market Analysis
Chapter 7 Europe Cord Blood Banking Services Market Analysis
Chapter 8 South Asia Cord Blood Banking Services Market Analysis
Chapter 9 Southeast Asia Cord Blood Banking Services Market Analysis
Chapter 10 Middle East Cord Blood Banking Services Market Analysis
Chapter 11 Africa Cord Blood Banking Services Market Analysis
Chapter 12 Oceania Cord Blood Banking Services Market Analysis
Chapter 13 South America Cord Blood Banking Services Market Analysis
Chapter 14 Company Profiles and Key Figures in Cord Blood Banking Services Business
Chapter 15 Global Cord Blood Banking Services Market Forecast (2022-2028)
Chapter 16 Conclusions
Research Methodology
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