Sarasota, FL -- (SBWIRE) -- 04/17/2018 -- Global Cord Blood Banking Services Market: Overview
Rising usage of stem cells and cord blood in the treatment of genetic disease is mainly boosting the global cord blood banking services market. In addition to this, raising consciousness about the advantages, wide obtainability of service operators paired with insurance coverage are a handful of the reasons towering the requirement for the global cord blood banking services market.
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Global Cord Blood Banking Services Market: Growth Factors
Growing capacity of spending and suitable payment schemes provided by the market companies are powering the requirement for these services and thereby boosting the global cord blood banking services market. Rising cases of cancer and other life intimidating genetic disorders are further expected to tower the number of patients needed to undertake bone marrow transplant. Demand for appropriate CB unit is anticipated to increase quickly in the forecast period resulting in an important development in the requirement for public banking and hence fueling the global cord blood banking services market.
While in contrast, firm regulatory needs, the dilemma in selecting the public or private bank, and ethical issues are the major reasons hampering the development of the market. Moreover, the high cost of collection & storage and jeopardy of non-usability of the unit amassed with the private bank are additionally restricting the development of the global cord blood banking services market.
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Global Cord Blood Banking Services Market: Segmentation
On the basis of storage, the global cord blood banking services market is divided into public cord blood banks and private cord blood banks.
Based on the regions, the global cord blood banking services market is segmented into Europe, North America, Asia-Pacific, and RoW.
Global Cord Blood Banking Services Market: Regional Analysis
North America rules the global cord blood banking services market due to the wide attendance of private companies paired with high consciousness amongst the users. Europe added to the 2nd biggest market post-North America due to awareness related to available services and high healthcare expenditure. On the other hand, government limitations in forming private banks in most of the nations such as Italy and France are hindering the development of the global cord blood banking services market in Europe.
Asia Pacific market is expected to develop fast during the forecast timeframe due to the attendance of evolving nations such as Japan, China, Hong Kong, and India. Rising spending in the healthcare segment, increasing investment by global companies to exploit the terrestrial reach and thereby increase the market share are some of the reasons expected to boost the global cord blood banking services market in the Asia Pacific. In addition to this, increasing medical tourism market is anticipated to arouse the requirement for CB units in this area.
Global Cord Blood Banking Services Market: Competitive Players
The main companies working in the global cord blood banking services market comprise Cord Blood America, Inc., China Cord Blood Corporation, Cordlife Group Limited, CBR Systems, Inc., Cryo-Save AG, Cryo-Cell International, Inc., National Cord Blood Program, Lifeforce Cryobanks, Virgin Health Bank, ViaCord, Inc., CryoHoldco, CordVida, Americord, and Vita34.
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The other noteworthy companies in the global cord blood banking services market include The University of Colorado Cord Blood Bank, Maze Cord Blood, CorCell, StemCyte, Cryoviva, Lifebank USA, AlphaCord, Genecord, Cells4Life, FamilyCord, CariCord, Michigan Blood, and LifeCell.
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