According to Acumen Research and Consulting, the global Cord Blood Banking market is expected to grow at noteworthy CAGR around 5.5 % throughout the forecast period and reach around US$ 21 billion by 2026.
A rich source of stem cells, which can treat over 80 genetic diseases is contained in cord blood. Stem cells in cord blood can handle chronic illnesses like cancer, diabetes, blood disorders and immune disorders. While a single umbilical cabin can only contain a small amount of cord blood, it is the only type of stem cell stored for future use and contains numerous stem cell types. These cells are collected in hospitals and hospitals and stored for future use in the cable blood banks, which can be stored between 20 and 25 years in average.
The report provides analysis of global Cord Blood Banking market for the period 2015-2026, wherein 2019 to 2026 is the forecast period and 2018 is considered as the base year.
In the coming years, the market for cord blood banking will be experiencing considerable growth. Health professionals are aware of the importance of newborn stem cells and strongly advise parents to use cord blood banking. The market growth is boosted by beneficial cord blood factors such as effective and enhanced treatment of various life-threatening diseases, such as cancer, blood disorders, certain further immune and metabolic disorders, combined with fewer complications and better medical outcomes.
Many families are urged to donate stem cells to a public bank to assist others in need. The cord blood is used to treat nearly 80 diseases including cancer, metabolism, immune disorders, blood disorder, etc., which are used to treat transplants with cord blood. In the field of other chronic diseases, such as Alzheimer diseases, diabetes, multiple sclerosis and backbone injuries and cardiac diseases, researchers are also examining the potential of the cord blood to increase market growth.
Private cord blood banks held a large share in the overall market, which amounted to over $13 trillion in 2018. Private cord blood banks are mainly profitable organizations, which only store cord blood for the donor and relatives to use exclusively. The segmental growth will increase factors such as the guarantee of blood availability together with adequate cord blood supply for multiple transplant-related family members.
It is estimated that public blood cord banks will expand over the forecast period in CAGR by more than 6 %. Public cord blood banks provide public health and well-being, thus driving growth in the segment. In addition, public banks allow research professionals to work with cord blood samples, thus enabling them to examine new and possibly life-saving therapies for patients.
The industry dominated the service processing market segment, representing more than 12 billion USD in 2018. Within 24 hours of collection, nearly every blood cord is processed. Cord-based blood cells (which can be toxic to cold during freezing) and plasma, while cryopreserving white blood cells and stem cells, are processed in public and private banking, thus driving growth in the segment during the forecast period.
During the forecast time period, the market for Storage Services will rapidly increase to around 5.5 %. Store cord blood units so long as a person needs can be done at extremely low costs, which will eventually help to treat life-threatening illnesses later in life. Such factors will drive the global cord blood banking market storage services over the next few years.
In 2018, Cancer generated a total of approximately USD 5.5 billion in its maximum revenues share. Cord blood will boost growth in segments by treating a range of diseases such as leukemia, lymphoma, or multiple myeloma. Moreover, government organisations, together with the spread of awareness of stem cell transplants for cancer, are continuously providing funding to help patients and family members to achieve an effective treatment scheme.
For applications such as traumatic brain injury, Alzheimer's condition, cardiovascular disease, etc., strong growth over the projection period is expected to exceed 6 percent. Increased incidence of these diseases, together with increasing research and clinical trials, to assess their cord blood treatment can potentially affect an unlimited number of lives and therefore increase segment growth over the forecast time frame.
End Use Stance
The segment hospitals generated the highest share of revenues in 2018. The growth of cord blood banking hospitals in the market will increase such factors as increased use of cord blood units to treat life-threatening diseases, including cancer, blood disorders and immune disorder as well as increasing hospital admissions.
During the projection period, research institutes are expected to grow robustly by more than 6 percent. The current success of cord blood in the treatment of several disorders and illnesses has fostered interest in the development of stem cell therapies. Researchers actively utilize cord blood to test for a wide range of other conditions, for example the development of neurological and cardiovascular diseases and thus increase segment growth.
In the year 2018, the United States market for cord blood banking was around US$ 5 billion. The presence and favorable Government initiatives of a large number of private cord blood banks will boost the US market. In addition, researchers continuously endeavor to improve old treatments and develop new ones with a series of clinical studies, which will eventually promote market growth in the United States.
During the forecast period Singapore is estimated to grow at 7.8 percent as the target population is growing and cord blood benefits are more sensitive. In addition, a new Nicord blood cord expansion technique has produced excellent results with death rates of under 10 percent. Gamida Cell, a biotechnology company that develops cell and immune therapy, is still being tested. More than 80 stem cell transplants are carried out on average every year at the Singapore General Hospital, four of which include cord blood transplants, which increase the domestic market growth.
Global Cord Blood Banking Market, By Type of Bank
Global Cord Blood Banking Market, By Application
Global Cord Blood Banking Market, By End Use
Global Cord Blood Banking Market, By Geography
The market research study on “Cord Blood Banking Market - Global Industry Analysis, Market Size, Opportunities and Forecast, 2019 - 2026” offers detailed insights on global Cord Blood Banking market segments with market dynamics and their impact. The report also covers basic technology development policies.
The report provides an analysis of the latest industry trends from 2015 to 2026 in all sub-segment segments and forecasts revenue and volume growth on the global, the regional and country levels. ARC has divided the global market report of medical oxygen concentrations on product, application, technology and region for this study.
Key Players & Strategies
Few of the major actors in the industry in the global cord-blood banking market are Cryo-Save AG, FamiCord, CBR Systems, Inc., Cordlife, Hewlett-Packard, the Global Cord Blood Corporation, Americord, LifeCell, Singapore Cord Blood Bank, the Jeevan Stem Cell Foundation, and ViaCord LLC. For instance, the Americord Registry announced in September 2017 that it would offer placental tissue banking on its own. The company can expand its service portfolio and stimulate revenue generation through this new service.
In 2005 C.W introduced the concept of cord blood banking. The 2005 National Cord Blood Inventory (NCBI) was established by the Bill Young Transplantation Program and the Stem Cell Therapeutic and Research Act. The objective of the Combined Entity was to improve the national supply of cord blood units donated publicly. Currently, the U.S. approved cord blood. Over 80 life threatening diseases are being treated by the FDA. With the continued support of the medical community and government in different nations, the market will expand quickly. In addition, in the next decade, researchers claim to be a standard treatment for cord blood cells, with several ongoing clinical trials currently being tested for possible future treatments.
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