The global market for cord
blood banking (CBB) service is expected to reach over USD 12 billion by 2022,
growing at an estimated CAGR of around 11% from 2015 to 2022, according to a
new report by Grand View Research, Inc. Key drivers of the market include increasing
application of stem cell therapy in disease treatment, and rising prevalence of
life threatening genetic disorders.
Moreover, increasing spending
capacity is fueling the demand for advanced healthcare facilities including
prevention and treatment. As a result, parents are increasingly demanding CBB
Service 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 Service 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 Service
during the forecast period.
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Further key findings from the study suggest:
·
Private bank segment accounted
for the largest market share in 2014. High cost of collection, processing, and
storage along with the maximum awareness created by marketing activities
practiced by the players resulted in large market share of private banks in the
world.
·
Rising government support and
no storage and collection costs are the major factors anticipated to drive the
public banking segment during the forecast period from 2015 to 2022 with
highest CAGR.
·
North America dominated the
global market and was followed by Europe in 2014. Dominance of North America is
accounted by government support and high penetration 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 2015 to 2022. Factors such as increasing investment by
global players, government support and rising healthcare expenditure are
anticipated to boost the cord blood banking Service market in Asia Pacific.
·
Global cord blood banking
Service market 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
Grand View Research has
segmented the Cord Blood Banking Service market on the basis of bank types and
region:
Cord Blood Banking Service Outlook, 2012 - 2022, Revenue
(USD Million), Volume (Number of Units)
·
Public Banks
·
Private Banks
Cord Blood Banking Service Regional Outlook, 2012 - 2022,
Revenue (USD Million), Volume (Number of Units)
·
North America
·
U.S.
·
U.S. Cord Blood Banking Service
Market, by Bank Type
·
Canada
·
Canada Cord Blood Banking
Service Market, by Bank Type
·
Europe
·
Germany
·
Germany Cord Blood Banking
Service Market, by Bank Type
·
UK
·
UK Cord Blood Banking Service
Market, by Bank Type
·
France
·
France Cord Blood Banking
Service Market, by Bank Type
·
Italy
·
Italy Cord Blood Banking
Service Market, by Bank Type
·
Asia Pacific
·
Japan
·
Japan Cord Blood Banking
Service Market, by Bank Type
·
China
·
China Cord Blood Banking
Service Market, by Bank Type
·
India
·
India Cord Blood Banking
Service Market, by Bank Type
·
Latin America
·
Brazil
·
Brazil Cord Blood Banking
Service Market, by Bank Type
·
MEA
·
South Africa
·
South Africa Cord Blood Banking
Service Market, by Bank Type
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About Grand View Research
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.
For more market analysis reports, please visit: http://www.grandviewresearch.com/
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