Trusted Business Insights presents the Updated and Latest Study on Cord Blood Banking Market 2019-2025. The report contains market predictions related to market size, revenue, production, CAGR, Consumption, gross margin, price, and other substantial factors. While emphasizing the key driving and restraining forces for this market, the report also offers a complete study of the future trends and developments of the market. It also examines the role of the leading market players involved in the industry including their corporate overview, financial summary, and SWOT analysis.
Abstract, Snapshot, Market Analysis & Market Definition: Cord Blood Banking Market
Industry / Sector Trends
Cord Blood Banking Market size was valued over USD 16 billion in 2018 and is expected to witness more than 5% CAGR from 2019 to 2025.
U.S. cord blood banking market, by type of bank, 2018 & 2025 (USD Million)
Growing prevalence of genetic disorders such as sickle cell anemia, thalassemia, cystic fibrosis, Tay-Sachs disease, haemophilia, fragile X syndrome and Huntington’s disease are the primary factor for the growth of cord blood banking market. As per the WHO estimates, about 2 million people in the U.S. are estimated to carry sickle cell allele. Growing burden of genetic disorders will drive the demand for cord blood transplantations in the future, thus fostering business growth.
Increasing awareness pertaining to various therapeutic applications of cord blood cells will serve as high impact rendering factor. Numerous government and private organizations are involved in creating awareness regarding numerous advantages of preservation of cord blood. For instance, In April 2015, BioInformant Worldwide partnered with Save the Cord Foundation to launch cord blood banking awareness campaign with an aim to educate expecting parents about the medical benefits of cord blood preservation. Aforementioned factors will be conducive to industry growth.
Market Segmentation, Outlook & Regional Insights: Cord Blood Banking Market
Cord Blood Banking Market, By Type of Bank
Germany cord blood banking market share, by type of bank, 2018
Private cord blood banks held majority share of the total market, accounting for revenue of USD 13.7 billion in 2018. Growing awareness among expectant parents as well as high demand to safeguard the health of family members by storing and preserving precious cord blood stem cells will drive the private cord blood banking market. Factors such as sufficient supply of cord blood along with guarantee for the availability of cells for transplantation in multiple relatives further will boost segmental growth.
Public cord blood banks are forecasted to expand at a CAGR of 6.1% from 2019 to 2025. Factors such as increase in the number and diversity of cord blood units available for patients and strong support from the federal and private funding will propel the demand for public cord blood banking, hence enhancing the segmental growth. Moreover, public banks are the primary source of cord blood cells for research professionals to investigate novel and potentially life-saving therapies for the patient population, thus propelling segment growth.
Cord Blood Banking Market, By Services
Processing service market segment accounted for USD 12.6 billion in 2018 and is expected to dominate the industry during the forecast timeframe. High growth is attributed to various technological advancements in cord blood processing methods. For instance, PrepaCyte-CB is a premium processing method of Cryo-Cell that provides better separation along with less crossover of the red and white cells. Contamination of red blood cells can be toxic and may lead to loss of precious cord blood cells during freezing. Removal of RBCs require processing, thus leading to segmental growth during the forecast period.
Storage service market segment will grow rapidly at 5.6% during the forecast timeframe. High growth is attributed to increasing number of expectant parents availing preservation of the new-borns cord blood cells. Additionally, various offers and discounts gives by private cord blood banks for long-term storage of cord blood cells of infants will significantly drive the storage services in the future.
Cord Blood Banking Market, By Application
Immuno-deficiency disorders is expected to grow at 5.6% in the upcoming years. Cord blood cells are increasingly being used for the treatment of primary immuno-deficiency disorders. Factors such as rapid and reliable recovery of immune function, low risk of graft versus host disease, and low viral transmission rate will boost the growth of the market for immuno-deficiency disorders treatment. In addition, government organizations are constantly providing funds along with spreading awareness related to stem cell transplants thus propelling segment growth.
Metabolic disorders segment accounted for USD 1.9 billion in 2018. Rising incidence of various metabolic disorders such as Krabbe leukodystrophy, Gunther Disease, Tay-Sachs disease will boost the application of cord blood cells for treatment of metabolic disorders. Cord blood cells are less reactive and more adaptable once they enter the patients body. Cord blood stem cell transplantation is the only effective treatment for the ailment in mildly affected late-onset patients and pre-symptomatic infantile patients, hence expanding the segment growth during the forecast timeframe.
Cord Blood Banking Market, By End-use
Hospitals segment accounted for revenue of USD 9.4 billion in 2018. Hospitals have a complete transplantation set up with latest technology and a highly experienced and qualified healthcare personnel. Furthermore, advancements in the field of cord blood banking and its growing popularity will consequently increase the application of cord blood transplantations in the near future. Increasing prevalence of genetic diseases and cancer around the globe is driving the hospitals market for cord blood treatment.
Specialty clinics segment held market share of 21.9% in 2018. Specialty clinics segment will have moderate growth rate due to increasing technological advancements that improve the quality of treatment related to cord blood transplantations. Major public and private banks facilitate cord blood units that are successfully used in the treatment of various form of cancer and genetic diseases, hence enhancing the segmental growth.
Cord Blood Banking Market, By Region
North America cord blood banking market share, by country, 2025 (USD Million)
North American market is expected to reach USD 6.9 billion by 2025. High growth rate is attributed to presence of large number of players operating in the country, thus augmenting market growth. Additionally, presence of large number of genetic disorders will further fuel the demand for cord blood cells market. Moreover, continuous efforts by researchers to explore new therapeutic applications of cord blood cells will spur market growth.
Asia Pacific cord blood banking market is forecasted to show growth of 6.7% from 2019 to 2025. High growth is attributable to increasing awareness regarding the advantages of preservation of cord blood cells across the developing economies of India and China. Additionally, these countries have great potential for growth due to comparatively higher birth rate. Furthermore, various market players are entering the developing nations to explore untapped opportunities, thus fostering business growth in the region.
Key Players, Recent Developments & Sector Viewpoints: Cord Blood Banking Market
Key industry players in global cord blood banking market are Singapore Cord Blood Bank, CBR Systems, ViaCord LLC, Cordlife, FamiCord, Cryo-Save, Americord, Global Cord Blood Corporation, LifeCell and Jeevan Stem Cell Foundation. Various strategies such as collaborations, acquisitions, mergers are undertaken by these players to strengthen market position.
Recent industry developments:
In April 2019, FamiCord Group announced the agreement of future business cooperation with CelluGen Biotech (India). This agreement will assist to generate beneficial synergies for both the companies in the field of family-based stem cell banking and the development of new stem cell-based drugs
In September 2018, CryoSave announced the introduction of its new storage facility in Geneva. This new safe and secure sample storage BioBank in its state-of-the-art central laboratory ensures a capacity of cryopreservation for more than millions of samples thus, increasing its storage facilities.
Cord Blood Banking Industry Viewpoint
Cord blood transplant can be traced back to the early 1990s when the first cord blood transplant was performed for treating T?cell leukemia. Since then, the technique underwent numerous advancements due to extensive R&D activities to explore new therapeutic implications. Currently cord blood is used for more than 80 therapeutic applications ranging from genetic disorders to metabolic disorders. In 2005, National Cord Blood Inventory (NCBI) was formed with the aim to increase the national supply of publicly donated cord blood units. Cord blood banking industry is expected to grow swiftly in the developing economies such as India and China due to high birth rate and growing healthcare infrastructure. Major market players are exploring the untapped opportunities to increase their market presence that will further boost cord blood banking industry.
Key Insights Covered: Exhaustive Cord Blood Banking Market
1. Market size (sales, revenue and growth rate) of Cord Blood Banking industry.
2. Global major manufacturers’ operating situation (sales, revenue, growth rate and gross margin) of Cord Blood Banking industry.
3. SWOT analysis, New Project Investment Feasibility Analysis, Upstream raw materials and manufacturing equipment & Industry chain analysis of Cord Blood Banking industry.
4. Market size (sales, revenue) forecast by regions and countries from 2019 to 2025 of Cord Blood Banking industry.
Research Methodology: Cord Blood Banking Market
- Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analyzed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please Request a Sample Report.
- Demand Side Primary Contributors: OEMs, Industrial Professionals, Researches, Suppliers and Distributors, Group Purchasing Organizations, Associations, Insurers, Universities, Technological Writers, Scientists, Promoters, Investors among others.
- Supply Side Primary Contributors: Product Managers, Marketing Managers, C-Level Executives, Distributors, Market Intelligence, Regulatory Affairs Managers among others.
Quick Read Table of Contents of this Report @ WorldWide Cord Blood Banking Market, Industry / Sector Analysis Report, Regional Outlook & Competitive Market Share & Forecast, 2019 – 2025
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