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Title: CORD BLOOD BANKING SERVICES MARKET ANALYSIS | Coherent Market Insights


1
Coherent Marketing Insights
  • Market Research Business Consulting Services
  • https//www.coherentmarketinsights.com/
  • Covid-19 Impact Tracker

2
  • CORD BLOOD BANKING SERVICES MARKET ANALYSIS
  • Umbilical cord blood banking or cord blood
    banking is the practice of preserving blood from
    the umbilical cord for future use. Such preserved
    cord blood is used in medical therapies in the
    similar fashion as that of stem cells derived
    from bone marrow.
  • Cord blood banking refers to collection and
    preservation of blood derived from the umbilical
    cord. Umbilical cord blood is a potential source
    of progenitor cells, which can be used for
    reconstitution of tissue, organs, and other
    functional areas.
  • Statistics
  • The global cord blood banking services market is
    estimated to account for US 42.9 Bn in terms of
    value by the end of 2027

3
  • Global Cord Blood Banking Services Market
    Drivers
  • Increasing prevalence of cancer is expected to
    propel growth of the global cord blood banking
    services market over the forecast period. For
    instance, according to the American Cancer
    Society, in 2019, there will be an estimated
    1,762,450 new cancer cases diagnosed and 606,880
    cancer deaths in the U.S.
  • Moreover, increasing number of blood donor
    centers is also expected to aid in growth of the
    market. For instance, in April 2020, BioIVT, a
    provider of research models and services for drug
    and diagnostic development, started its new blood
    donor center on the Tufts University campus in
    Medford, Massachusetts, U.S., to support academic
    and pharmaceutical researchers involved in
    COVID-19, cell and gene therapy research.
  • Statistics
  • North America held dominant position in the
    global cord blood banking services market in
    2019, accounting for 49.0 share in terms of
    value, followed by Europe and Asia Pacific,
    respectively

4
  • Figure 1 Global Cord Blood Banking Services
    Market Share () Value, By Region, 2019

5
  • Global Cord Blood Banking Services Market
    Restraints
  • Scarcity of compatible cord blood units is a
    major factor hindering growth of the market.
    There has been a shortage of cord blood units
    throughout North America particularly for
    minorities. Short supply of cord blood units
    across the globe particularly affects ethnic
    minorities.
  • Moreover, the average cost for collection,
    testing, and processing of cord blood units is
    around US 1,600 with the recurring annual
    charges of around US 100. Such chargeable
    services include testing for infectious diseases,
    typing, and contamination. Public banks do not
    charge for storage and collection of cord blood
    units. However, the ownership and the
    availability of blood units will depend on the
    bank. Such scenario is also expected to limit the
    market growth.

6
Cord Blood Banking Services Market Report
Coverage

7
  • Global Cord Blood Banking Services Market
    Opportunities
  • RD in use of cord blood in the treatment of
    neurodegenerative disorders is expected to offer
    lucrative growth opportunities for players in the
    global cord blood banking services market. For
    instance, in April 2020, researchers from
    University of LAquila, Italy, reported that
    suggest that cord blood serum -based eye drops
    might be successfully used to mitigate retinal
    neurodegenerative processes such as age-related
    macular degeneration.
  • Moreover, use of cord blood in cancer diagnosis
    and treatment is also expected to aid in growth
    of the market. For instance, in March 2020,
    researchers from Vinmec Healthcare System,
    Vietnam, reported that cryo umbilical cord blood
    mononuclear cells source is effective in
    generating allogeneic dendritic cells and their
    exosomes can be used for vaccinating against
    cancer.
  • Statistics
  • The global cord blood banking services market was
    valued at US 26.8 Bn in 2019 and is forecast to
    reach a value of US 42.9 Bn by 2027 at a CAGR of
    6.1 between 2020 and 2027.

8
Figure 2 Global Cord Blood Banking Services
Market Value (US Bn), 2016 2027

9
  • Market Trends/Key Takeaways
  • Government initiatives to improve cord blood bank
    licensing is boosting growth of the market. For
    instance, in December 2019, China's National
    Health Commission issued a new policy allowing
    the relevant Provincial Health Commissions to
    approve cord blood bank licenses in 18 pilot Free
    Trade Zones in China.
  • Moreover, launch of new genetic screening tests
    is also offer conducive environment for market
    growth. For instance, in November 2019, CBR
    Systems, Inc., in collaboration with Sema4 a
    health intelligence company, launched ReadyGen, a
    genetic screening test that analyzes a child's
    DNA for more than 200 conditions that can affect
    children before the age of 10.

10
  • Regulations
  • U.S.
  • American Association of Blood Banks (AABB) is a
    non-profit international association of
    institutions and individuals who are engaged in
    cell transplantation and transfusion medicine.
    The standards framed by the AABB are updated
    every two years and by its subject matter
    experts.
  • The AABB accredited cord blood banks are eligible
    to perform following tests upon cord blood
    banking
  • Tests for mothers HIV-I and II, Hepatitis B and
    C, Syphilis, HTLV-I and II and CMV
  • Tests for family family health history
  • Cord blood tests red cell antibodies, CD34,
    ABO, Rh, bacterial or fungal contamination and
    WBC
  • Whenever cord blood bank is transferred from any
    AABB accredited bank, the organization requires
    reporting of patient outcome from such blood
    bank. It should be noted that AABB accreditation
    does not need a specific cord blood processing
    procedure.
  • Global Cord Blood Banking Services Market
    Competitive Landscape
  • Major players operating in the global cord blood
    banking services market include, China Cord Blood
    Corporation, Cord Blood America, Inc., CBR
    Systems, Inc., Cordlife Group Ltd., Cryo-Cell
    International, Inc., StemCyte, Inc., Americord
    Registry, Cryo-Save Group AV, NeoStem, Inc.,
    Blood Centers of America, and ViaCord, Inc.

11
  • Global Cord Blood Banking Services Market Key
    Developments
  • Major players in the market are focused on
    adopting partnership strategies to enhance their
    market share. For instance, in August 2019,
    StemCyte, Inc. renewed its partnership with Sharp
    HealthCare, which includes Sharp Mary Birch
    Hospital for Women Newborns, a center in the
    U.S. offering maternity, neonatal, and women's
    surgical services.
  • Major players in the market are also focused on
    launching new products to expand their product
    portfolio. For instance, in July 2019, Americord
    Registry launched Placental Tissue 2.0, its
    newest stem cell banking product, which stores
    live amniotic membrane.

12
  • Request Sample Report
  • Request Customization
  • Download PDF Brochure
  • Talk to Analyst
  • Referance https//www.coherentmarketinsights.com/
    market-insight/cord-blood-banking-services-market-
    3913

13
About Us
  • Coherent Market Insights is a global market
    intelligence and consulting organization focused
    on assisting our plethora of clients achieve
    transformational growth by helping them make
    critical business decisions. We are headquartered
    in India, having office at global financial
    capital in the U.S. Our client base includes
    players from across all business verticals in
    over 150 countries worldwide.
  • What We ProvideCustomized Market Research
    AnalysisIndustry Analysis ServicesBusiness
    Consulting ServicesLong Term Engagement
    ModelCountry Specific Analysis

14
Contact Us
  • Mr. Shah
  • Coherent Market Insights Pvt. LTD.Coherent
    Market Insights 1001 4th Ave, 3200 Seattle, WA
    98154, U.S.Phone 1-206-701-6702
  • Email sales_at_coherentmarketinsights.com

15
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