Dublin, Oct. 17, 2022 (GLOBE NEWSWIRE) -- The "Global Cord Blood Banking Market by Service, Component, Application, Sector, Company, and Region: Competition Forecast and Opportunities to 2027" report has been added to ResearchAndMarkets.com's offering.
The global cord blood banking market is anticipated to observe impressive growth during the forecast period, 2023-2027. The major factors include the increase in genetic diseases and the growing awareness among parental population. Cord blood stem cells treat various invasive diseases such as leukemia, anemia, and blood cancer.
Moreover, there is an upsurge in the utilization of cord blood banking services for the treatment of immunodeficiency disorders across the world. This, coupled with the growing awareness among masses about the benefits and broad availability of cord blood banking service donors, is impelling the growth of the market. The other factors supporting the market's growth are extensive investments by governments of different countries in research and development (R&D) activities to expedite clinical trials of cord blood stem cells, and expansion of healthcare industry.
Increasing Prevalence of Hematological Disorders
Nowadays, more and more people are suffering from various hematological disorders and chronic diseases due to which storing of cord blood stem cells is very crucial. Cord blood holds a rich source of stem cells, which can cure hematological disorders such as leukemia, thalassemia, hemophilia, sickle cell anemia, lymphoma, and others. The growing occurrence of different cancers, such as leukemia and lymphoma, due to longer working hours, hectic lives, and excessive smoking and alcohol intake signifies one of the key factors driving the cord blood banking market. Cord blood stem cells can cure chronic diseases such as cancer, blood diseases, diabetes, and immune diseases due to which an increase in the utilization of cord blood banking services for the treatment of these diseases is becoming more common. For instance, in 2020, CIBMTR reported 4,864 unrelated and 4,160 related bone marrow and cord blood transplants which were performed in the United States.
Growing Awareness regarding the Therapeutic Potential of Stem Cells
Stem cells have been proven to treat over 80 genetic diseases and other chronic diseases due to which people are becoming more aware regarding the therapeutic potential of stem cells across the globe. Parental as well as expectant populations are becoming more aware as health professionals are starting to educate them about the importance and benefits of storing cord blood stem cells which is driving the growth of the market, globally. Additionally, increase in awareness among the public regarding the massive availability of service providers is likely to propel the growth of cord blood banking market. For instance, in the United States, the donor registry contains more than 9 million potential donors. Also, the donor registry includes 266,000 cord blood units from which 115,000 units are from National Cord Blood Inventory (NCBI), with over 4000 NCBI units added in 2021.
Increasing Investments for Cord Blood Banking Sector
Increase in fundings and initiatives by government for R&D, technological advancements and expansion of healthcare infrastructure is propelling the growth of the cord blood banking market, globally. Increasing investments in research and development for treating life threatening diseases and clinical trials for cord blood stem cells are expected to drive the market.
Report Scope
In this report, global cord blood banking market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
Cord Blood Banking Market, by Service:
- Sample Preservation & Storage
- Sample Analysis
- Sample Processing
- Sample Collection & Transportation
Cord Blood Banking Market, by Component:
- Cord Blood
- Cord Tissue
Cord Blood Banking, by Application:
- Cancer Disease
- Diabetes
- Blood Disease
- Immune Disorders
- Metabolic Disorders
- Others
Cord Blood Banking Market, by Sector:
- Public Cord Blood Banks
- Private Cord Blood Banks
Cord Blood Banking Market, by Region:
- North America
- Asia-Pacific
- Europe & CIS
- South America
- Middle East & Africa
Key Topics Covered:
1. Product Overview
2. Research Methodology
3. Executive Summary
4. Impact of COVID-19 on Global Cord Blood Banking Market
5. Voice of Customer
6. Global Cord Blood Banking Market Outlook
7. North America Cord Blood Banking Market Outlook
8. Europe Cord Blood Banking Market Outlook
9. Asia-Pacific Cord Blood Banking Market Outlook
10. South America Cord Blood Banking Market Outlook
11. Middle East and Africa Cord Blood Banking Market Outlook
12. Market Dynamics
13. Market Trends & Developments
14. Competitive Landscape
15. Strategic Recommendations
Companies Mentioned
- Americord Registry LLC
- Covis Group
- Cordlife Group Limited
- Cryo-Cell International, Inc.
- FamiCord Group
- Cordvida, Perkinelmer Inc.
- Lifecell International Pvt. Ltd.
- ViaCord LLC
- Global Cord Blood Corporation
- StemCyte, Inc.
For more information about this report visit https://www.researchandmarkets.com/r/pbksiz
