Cord Blood Banking Market to Gain Massive Proceeds From Hospitals Over 2021-2025
Category: #healthcare  By Ronak Bora  Date: 2021-03-20
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Cord Blood Banking Market to Gain Massive Proceeds From Hospitals Over 2021-2025

Cord blood banking market size from hospitals is estimated to reach US$13.2 billion by 2025 on account of the rising need for stem cells for the treatment of genetic disorders. Hospitals provide superior medical facilities and holistic treatment options to a large number of patients. The escalating prevalence of hereditary diseases, substantial expansion of healthcare infrastructure, and growing preference of patients towards availing advanced medical facilities shall drive consumer inclination towards hospitals for the treatment of chronic diseases.

Studies suggest that cord blood has myriad usage benefits such as the capability to reconstitute blood and immune system. The product can also be cryopreserved for future use, thereby driving the establishment of both public and private banks. Above 800,000 cord blood units are being cryopreserved in the public banks and around 5 million additional units are stored in the private banks.

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Based on services, the global cord blood banking market from the storage services segment is poised to depict a CAGR of 5.6% through 2025, owing to increasing knowledge about the advantages of storing cord blood cells in private banks, coupled with rising government initiatives to encourage parents to donate cord blood cells of their newborn babies for treatment of various diseases.

Based on application, the cancer segment is projected to account for a major market share over the estimated timeline, which can be attributed to the escalating number of cancer patients worldwide, and effectiveness of cord blood cells in disease treatment. For example, the product finds widespread application in the treatment of non-Hodgkin’s leukemia and lymphoma.

With the number of patients with life-threatening genetic disorders on the rise, the global cord blood banking market is likely to gain remarkable traction over the forecast spell. As per WHO estimates, over 1 in 2000 newborn babies in Europe are impacted by cystic fibrosis, bolstering the demand for umbilical cord blood banking services.

Cord blood banking market in India is expected to grow at a 6.9% CAGR up to 2025. With an aim to make stem cells available at an affordable cost, numerous initiatives have been undertaken by non-government organizations. Similar trends in the near future will provide a sustainable environment for the regional cord blood banking industry expansion.

Leading cord blood banking organizations include Jeevan Stem Cell Foundation, FamiCord, ViaCord LLC, Americord, Cryo-Save AG, LifeCell, Global Cord Blood Corporation, Cordlife, Singapore Cord Blood Bank, and CBR Systems, Inc.

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Partial Chapter of the Table of Content

Chapter 4.     Cord Blood Banking Market, By Type of Bank

4.1. Key segment trends

4.2. Public

4.2.1. Market size, by region, 2014 – 2025 (USD Million)

4.3. Private

4.3.1. Market size, by region, 2014 – 2025  (USD Million)

Chapter 5.     Cord Blood Banking Market, By Services

5.1. Key segment trends

5.2. Processing

5.2.1.  Market size, by region, 2014 – 2025 (USD Million)

5.3. Storage

5.3.1.  Market size, by region, 2014 – 2025 (USD Million)

5.4. Others

5.4.1.  Market size, by region, 2014 – 2025 (USD Million)

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About Author

Ronak Bora    

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for Technology Magazine and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and spo...

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