Transparency Market Research Report Added "Cord Blood Banking Services Market (Private and Public Cord Blood Banks) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast upto 2019"
Albany, NY -- (SBWIRE) -- 01/16/2017 -- Cord blood stem cells have gained much attention in recent years thanks to their ability to repopulate blood and treat a number of medical conditions. This has also brought the importance of umbilical cord blood banking into focus, leading to several such banks being set up across the world. The foundation for the growth of the cord blood banking services market has already been laid in developed and emerging countries, and the growth of the market will continue as new advances in technology are reported.
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The report studies the cord blood banking services market on the basis of service vendor and geography. By service vendor type, the market is segmented into public cord blood banks and private cord blood banks. Likewise, on the basis of geography, the report segments the cord blood banking services market into North America (United States and Canada), Europe (UK, France, Spain, Italy, Belgium, and Germany), Asia Pacific (China, India, Australia, Philippines, New Zealand, and Japan), and Rest of the World (Argentina, Brazil, Russia, and the Middle East).
Owing to the fact that cord blood banking is pivotal to the wider adoption of stem cell therapy, there is no dearth of conducive factors for the growth of the cord blood banking services market. It is expected that the global cord blood banking services market will log a compounded annual growth rate (CAGR) of 5.6% from 2013 through 2019. In 2012, the cord blood banking services market stood at US$12.4 bn. The market is expected to rise to US$15.23 bn by the end of 2019.
As parents become more aware about the advantages offered by stem cell therapy, the adoption rates will also rise. This factor will play a crucial role in helping the cord blood banking services market expand over the next few years. In terms of units, the number of private cord blood banks is higher than that of public banks. However, when analyzed from the standpoint of units stored, it is the public cord blood banks that assume the leading position.
This market is currently brimming with opportunities, but faces restraints because the high cost of stem cell therapy deters consumers from opting for the same. Companies wanting to venture into this space have to be compliant with a variety of accreditation requirements as well as a series of storage and handling mandates. This is yet another challenge that companies in the cord blood banking services market find themselves faced against. Nevertheless, the enormous white space that exists in emerging economies will help mitigate some of these restraints that exist in the cord blood banking services.
North America is the dominant regional market for cord blood banking services whereas Europe ranks second globally. The sizeable cord blood banking services markets in these countries can be credited to supportive government policies and more consumers here opting for stem cell therapy. Cord blood banking in China and India has gained momentum in recent years; this will open a new window of opportunity for cord blood banking service providers.
The report analyzes the current size, capacity, revenue, and other relevant details pertaining to leading private and public cord blood banks. Market players profiled in the report include: Cord Blood America, Inc., China Cord Blood Corporation, Cord Blood Registry Systems, Inc., Cryo-Cell International, Inc., Cordlife Group Ltd., NeoStem, Inc., Cryo-Save Group AV, and ViaCord, Inc.
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