The global Cord Blood Banking Services Market is expected to reach over USD 82.3 billion by 2025, growing at an estimated CAGR of around 11.9% from 2017 to 2025, according to a new study by Grand View Research, Inc. Key drivers of the market include increasing application of stem cell therapies in disease treatment, and rising prevalence of life threatening genetic disorders.
Moreover,
increasing spending capacity is fueling the demand for advanced healthcare
facilities including disease prevention and treatment. As a result, parents are
increasingly demanding CBB services to ensure safety of their child’s future.
Furthermore, private players are practicing marketing activities which are
creating awareness about the availability of the CBB services and their
benefits.
In
addition, governments worldwide are promoting public CBB to develop ethnically
diverse cord blood repository which would increase the chances of finding
suitable human leukocyte antigen (HLA) match for the patients. As a result,
availability of the ethnically rich CB repository coupled with anticipated rise
in the stem cell therapies and bone marrow transplants, is expected to spur the
CBB services during the forecast period.
Browse Details of Report @
https://www.grandviewresearch.com/industry-analysis/cord-blood-banking-services-market
Further Key Findings From the Report Suggest:
- Private bank
segment accounted for the largest revenue share in 2016. High cost of
collection, processing, and storage along with the maximum awareness
created by marketing activities practiced by the players resulted in large
revenue share of private banks across the globe.
- Rising
government support and no storage and collection costs are the major
factors anticipated to drive the public banking sector during the forecast
period from 2017 to 2025 with highest CAGR.
- North
America dominated the global market and was followed by Europe in 2016.
Dominance of North America is owing to government support and high rate of
stem cell therapy in the U.S. and Canada.
- Moreover,
high awareness and insurance coverage of cord blood banking and stem cell
therapies is further boosting the growth of the market in North America
- Densely
populated emerging countries of Asia Pacific are anticipated to show
significant growth during the forecast period from 2017 to 2025.
- Factors such
as increasing investment by global players, government support and rising
healthcare expenditure are anticipated to boost the cord blood banking
services market in Asia Pacific
- Global CBB
services sector is highly fragmented with presence of many private and
public players. Few global players operate in various geographies through
subsidiaries. While local players are operating independently in
respective geographies.
- Key players
of this market include China Cord Blood Corporation, Cord Blood America,
Inc., CBR Systems, Inc., Cordlife Group Limited, Cryo-Cell International,
Inc., Cryo-Save AG, Lifeforce Cryobanks, National Cord Blood Program,
ViaCord, Inc. and Virgin Health Bank
About Us:
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco. The
company provides syndicated research reports, customized research reports, and
consulting services. To help clients make informed business decisions, the
company offers market intelligence studies ensuring relevant and fact-based
research across a range of industries including technology, chemicals,
materials, healthcare and energy.
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Grand View Research, Inc
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Email: sales@grandviewresearch.com
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