Transparency Market Research has published a new report "Cord Blood Banking Services Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 - 2019" to its report store.
Albany, NY -- (SBWIRE) -- 07/07/2015 -- Transparency Market Research (TMR) has announced the addition of a new report, titled "Cord Blood Banking Services Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 - 2019". According to this report, the global cord blood banking services market will grow at 5.6% CAGR during the forecast period of 2013 to 2019. In 2012, the global cord blood banking services market was estimated at US$12.4 billion in 2012 and is expected to be worth US$15.23 billion by 2019.Cord blood banking is practiced to use the cord blood stem cells for treating various medical disorders. The main success for stem cell banking includes storing of peripheral blood and bone marrow. Furthermore, donated cord blood has currently become a very reliable source for stem cells and is considered as a valuable biological resource. Factors such as rising parental awareness will drive the acceptance of cord blood banking services. Additionally, advancement in cord blood banking technology will also drive is market.
Nevertheless, the global cord blood banking services market's growth will be constrained by factors such as cost issues and lack of cord blood units. Furthermore, the stringent laboratory and storage requirements and accreditation requirements will suppress the global cord blood banking services market. At present, there are several regulatory bodies governing the global cord blood banking services market. These include the American Association of Blood Banks (AABB), Clinical Laboratory Improvement Amendments (CLIA), FDA Biologics License Application (FDA BLA), International Organization for Standardization (ISO), American Association of Tissue Banks (AATB), Human Tissue Authority (HTA) – UK, Foundation for the Accreditation of Cellular Therapy (FACT), and Joint Accreditation Committee - ISCT – EBMT (JACIE).
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On the other hand, the opportunities for increasing applications of cord blood cells in the treatment of various therapies and the large untapped market in emerging economies will help players thrive in this market. The key companies operating in the global cord blood banking services market are Cord Blood Registry Systems, Cord Blood America, China Cord Blood Corporation, NeoStem, Cryo-Cell International, and ViaCord.By type of service vendor, the global cord blood banking services market is segmented into public cord blood banks and private cord blood banks. Private cord blood banks are more in demand worldwide, while public cord blood banks tend to contain more units of blood owing to the centralized channels of storage and distribution. This tends to deliver a significant advantage to public cord blood banks, as they have more access to cord blood units, and initiates a virtuous cycle in their favor.
Geographically, the global cord blood banking services market is divided into North America, Europe, Asia Pacific, and Rest of the World (RoW). Emerging regions in Asia Pacific provide good growth opportunities for players operating in the global cord blood banking services market. Besides the rising disposable incomes and growing prevalence of chronic diseases, the Asia Pacific cord blood banking services market will also benefit from the presence of several government bodies and rising number of live births.
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The global cord blood banking services market is segmented as follows:
Based on Type of Service Vendor
Private cord blood banks
Public cord blood banks
Based on Geography
Rest of the World
Middle Eastern Countries
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