Transparency Market Research Report Added "Cord Blood Banking Services Market" to its database.
Albany, NY -- (SBWIRE) -- 01/28/2016 -- Over the last twenty years, stem cell research has been growing at an accelerated pace with increasing investments in the stem cell therapeutics industry. This brand of regenerative medicine is as yet an uncharted territory for many scientists and doctors, but, it does offer a fresh perspective towards treating a wide range of chronic diseases. The promise of changing the way medicine functions for dangerous diseases is encouraging the stem cell banking sector, which primarily depends on storing peripheral blood and bone marrow and umbilical cord blood (UCB). So far, UCB is considered to be the most important component for hematopoietic stem cells and hence, the effort of storing it has turned into a huge industry today.
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Resourcefulness of Cord Blood Encourages Growth of Cord Blood Banking Services
With progress in research, it has been established for certain that the donated cord blood is one of the most trustworthy sources for stem cells and therefore a valuable biological resource that requires excellent preservation. The importance of cord blood and its high demand for extracting crucial components from stem cells has prompted the pharmaceutical and medical fraternity to maintain an inventory of substantial cord blood. Research shows that the maximum cord blood units were sourced from public cord blood banks in 2015 and the demand for cord blood units is expected to reach 10,000 units per year worldwide.
The Latin America cord blood banking services market is segmented on the basis of type of storage and country. The types of storage in the cold blood banking services market include private cord blood banking services and public cord blood banking services. This market is spread across Brazil, Colombia, Argentina, Mexico, and the Rest of Latin America.
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Private Cord Blood Banking Services Base Business on Treating Non-hematopoietic Conditions
Presently, the cord blood banking services industry in Latin America is extremely fragmented and diverse due to the national policies governing it. The private cord blood banking companies cater to individual families, while the public cord blood banking companies offer their services to the public at large. The private cord blood banks charge an annual fee to offer their services to donors and the related family members in case of need. The private cord blood banks are thriving on the sentiment of the potential need for cord blood banking for treating non-hematopoietic conditions in the near future, than for the need of autologous cord blood.
The storing methods for public and private cord banking services market in Latin America are roughly the same. The difference lies in the way this cord blood is collected. For instance, private banks give collection kits to the patients, who hand over the collection to the obstetrician
Some of the important players in the Latin American cord blood banking services market are CrioCenter, America Cell Biobank, Inc., Banco de Cordon Umbilical (BCU), and Redcord S.A. The public cord blood banks are funded by the government, however, several private cord blood banks are now entering the market. A new trend in the cord blood banking services market of Latin America is the entry of businesses into the field of tissue engineering, non-invasive prenatal tests, and stem cell development.
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