North America has the largest market for UCB banking. The U.S., followed by Canada, is the largest market for UCB banking in the region. Increasing prevalence of chronic diseases is the key driver of the UCB banking market. In addition, initiatives by various government associations have also led to the increase in awareness about the importance of cord blood donation in the region.
New York, NY -- (SBWIRE) -- 04/17/2015 -- According to a new market report published by Persistence Market Research "Global Market Study on UCB Banking - Asia-Pacific to Witness Highest Growth by 2020" the global UCB banking market is estimated at USD 13,515.8 million in 2014 and is expected to grow at a CAGR of 6.1% from 2014 to 2020, to reach an estimated value of USD 19,335.6 million in 2020.
Browse the full Global Market Study on UCB Banking - Asia-Pacific to Witness Highest Growth by 2020 report at http://www.persistencemarketresearch.com/market-research/umbilical-cord-blood-banking-market.asp
The UCB banking market is witnessing a significant growth due to the increasing prevalence of chronic diseases coupled with regenerative medicines. In addition, initiatives by various government associations have increased the importance of UCB by rising awareness about potential applications of cord blood are also supporting in the growth of the global UCB banking market.
However, strict license and accreditation procedures and high cord blood banking fee in private banks hampers the growth of global UCB banking market. As a result, the global UCB banking market is expected to grow a CAGR of 6.1% during 2014-2020.
North America has the largest market for UCB banking. Increasing prevalence of chronic diseases is key driver of UCB banking market in the region. In addition, various government associations have also led to the importance of cord blood donation and services for its future use in North America.
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Similarly, the European UCB banking market is mainly driven by the increasing prevalence of diseases. In addition, increased awareness about therapeutic applications of cord blood and rising number of live births are also contributing in the growth of the UCB market in the region.
In Asia-Pacific, UCB banking market is growing due to rising aging population and increasing prevalence of chronic diseases. In addition, several government associations and increasing number of live births are also increasing the demand of cord blood banking services in the region.
UCB is collected from the umbilical cord of a newborn baby and also retrieved from the placenta after delivery. It is enriched with adult stem cells and these stem cells play a vital role in regulating all biological activities and in developing tissues in the human body. Globally, UCB banking market is growing rapidly due to increasing prevalence of chronic diseases coupled with the regenerative medicines. In addition, various government associations and initiatives are also supporting the growth of the market. The UCB banking market is estimated at USD 13,515.8 million in 2014 and is expected to grow at a CAGR of 6.1% from 2014 to 2020, to reach USD 19,335.6 million by 2020.
North America has the largest market share, followed by Europe and Asia-Pacific, in the global UCB banking market. The global UCB banking market was valued at 10,900 million in 2010 and it expanded to USD 12,774.8 million in 2013.
The global UCB banking market is segmented as follows:
1) UCB Banking Market, By Therapeutic Application of UCB
Bone Marrow Failure Syndromes
2) UCB Banking Market, By Storage Option
Private UCB Bank
Public UCB Bank
3) UCB Banking Market, by Geography
Rest of North America
Rest of Europe
Rest of Asia-Pacific
Rest of the World (RoW)
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