The global cord blood banking services market is expected to grow at a significant rate over the forecast period on account of rising application of stem cells and cord blood cells in treatment of diseases such as blood diseases and cancer among others. Along with this, the increasing number of service providers coupled with rising awareness about the benefits associated with cord blood is also likely to stimulate market growth.
Moreover, rising incidence of diseases such as cancer and other genetic diseases globally is anticipated to augment market growth over the coming years. However, high cost associated with collection & storage of stem cell units is projected to affect the profitability of the market.
Cord Blood Banking Services Market: Type Insights
On the basis of type, the cord blood banking services market is segmented into public, private, and hybrid banks. The market for private banks is expected to occupy the highest share owing to their high cost associated with storage and collection of CB unit charged to parents. Along with this, rising customer base of private banks as compared to public banks is projected to augment market growth. The public bank is also projected to grow significantly over the years on account of rising government initiatives to increase the number of units stored in these banks.
Cord Blood Banking Services Market: Regional Insights
North America occupied the largest share of the market since the past few years. This can be attributed to presence of key manufacturers in this region. Along with this, rising awareness of benefits of cord blood and stem cells in this region is likely to favor the market growth.
Asia Pacific and Europe are also expected to emerge as key revenue generating regions. This can be associated with rising incidence of diseases including blood diseases and cancer among others. Moreover, growing healthcare expenditure in this region is likely to stimulate market growth. Demand is expected to arise from countries such as Hong Kong, China, India and Japan.
Cord Blood Banking Services Market: Vendor Landscape
The report contains a chapter dedicated to vendors operating in the market, covering raw material manufactures, equipment developers, manufacturers, and distributors. The report provides these insights on a regional level. This section of the report entails contact details, experience, products manufactured/supplied, and geographical presence of companies.
Cord Blood Banking Services Market: End-Use Landscape
The end-use landscape entails a list of current and prospective consumers prevailing across the regions. This section provides company addresses, contact details, products, and regional presence of companies who are purchasing or are likely to purchase cord blood banking services over the coming years. Some leading consumers of this market are UnitedHealth Group, Abbott Laboratories, Medtronic, Cardinal Health and Express Scripts.
Cord Blood Banking Services Market: Market Share & Competitor Analysis
The key players include China Cord Blood Corporation, Cordlife Group Limited, CBR Systems, Inc., Virgin Health Bank, National Cord Blood Program, Cryo-Cell International, Inc., Cryo-Save AG, Lifeforce Cryobanks, Cord Blood America, Inc., and ViaCord, Inc.
In January 2018, Cordlife Group, the Singapore consumer healthcare company announced signing an agreement with HealthBaby Biotech, a private Hong Kong cord blood bank. This acquisition is expected to expand the presence of the former in the cord blood industry in Hong Kong and Macau.
In January 2018, HemaCare Corporation, a leading provider of blood cells and tissues for biomedical research announced partnership with OneBlood, Inc, a not-for-profit blood center based in Florida. The partnership is expected to be mutually beneficial for both the parties as it is projected to provide scientists and clinical researchers equipment to find the next generation medical cures.
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