Cord Blood Banking Services Market is valued at USD 1,327.6 Million in 2018 and expected to reach USD 2,975.2 Million by 2025 with the CAGR of 12.20% over the forecast period.
The Detailed Market intelligence report on the Cord Blood Banking Services Market applies the most effective of each primary and secondary analysis to weighs upon the competitive landscape and also the outstanding market players expected to dominate Cord Blood Banking Services Market place for the forecast 2019– 2025.
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Scope of The Report:
Cord blood is the blood that remains in the umbilical cord and placenta after childbirth. Cord blood cells are the rich source of the stem cells and these stem cells are used to treat chronic diseases. Which includes immune system diseases, cancers, diabetes, and blood-related diseases these stem cells are collected from the nursing homes or hospitals and then they are stored in the cord blood banks for the future use. They can be stored in a blood bank for around 20 to 25 years. However an only a small amount of cord blood is available in the umbilical cord, it contains large numbers of the stem cells and it is the only type of stem cell that can be stored for future use. Cord blood banks are public and private and they usually charge an annual fee for maintenance and storage of the blood. An individual can store the blood from the umbilical cord into the cord bank for future use. According to the National Foundation for Cancer Research, new cases of cancer per year in the USA consist of 10% blood cancer patients. The market is expected to witness growth due to an increase in chronic diseases amongst the populace.
Global cord blood banking services market report covers prominent players like,
Cord Blood America Inc., China Cord Blood Corporation, Cordlife Group Limited, CBR Systems Inc., Cryo-Cell International Inc., Lifeforce Cryobanks, Cryo-Save AG, National Cord Blood Program, Virgin Health Bank, ViaCord Inc., CordVida, CryoHoldco, Americord, Vita34
Global cord blood banking services market report is segmented on the basis of model, mode of delivery, component, product, application and regional & country level. Based on model, global cord blood banking services market is classified as knowledge-based CDSS and non-knowledge CDSS. Based upon mode of delivery, global cord blood banking services market is classified into cloud based and on-premise. Based upon component, global cord blood banking services market is classified into hardware, software and services. Based upon product, global cord blood banking services market is classified into integrated system, stand-alone system, standard-based, service model-based, other products. Based upon application, global cord blood banking services market is classified into medical diagnosis, alerts and reminders, prescription decision support, information retrieval, image recognition and interpretation, therapy critiquing and planning and other applications.
Global Cord Blood Banking Services Market Dynamics–
Major driving factors of the market are growing chronic diseases and growing birth-rate amongst the populace. Countries such as the US have a high rate of chronic diseases. In addition to this, growing health concerns among the populace further boost the demand of the market. The growing healthcare sector will fuel the market during the upcoming years. Moreover, the diverse applicability of the stem cells supports this market. However, cord blood only found in the umbilical cord and it is in very less amount hence collecting stem cells and cord blood is the main challenge and opportunity in this market. Involvement of the public and private sector will also create new opportunities
Key Market Segments::–
By Service Type: Sample Preservation and Storage, Sample Analysis, Sample Processing, Sample Collection and Transportation
By Application: Leukaemia, Bone Marrow Failure SYNDROME, Metabolic Disorder, Lymphoma, Immune Deficiencies
Global Cord Blood Banking Services Market Regional Analysis–
North America had the highest shares of the cord blood banking services in 2016, it has dominated the market and expected to continue its supremacy in upcoming years due to the growing rate of chronic diseases, technological development, and technological advancement, and growing healthcare sector will propel the market in North America. Asia Pacific is expected to witness rapid growth due to rising birth-rate and increasing chronic diseases growing healthcare sector in emerging countries such as China and India, and a growing population may affect the market.
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