Global cord blood banking services market is expected to generate $2.77 billion by 2023

03/dic/2020 15:22:05 Automotive Market Research Reports Contatta l'autore

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The global cord blood banking services market is expected to generate $2.77 billion by 2023, growing at a CAGR of 13.8% from 2017 to 2023. North America generated the highest revenue across the globe in 2016; however, Asia-Pacific would register the fastest growth rate during the forecast period.

The global cord blood banking services market is driven by factors including various marketing strategies adopted by key players, rise in R&D activities for cord blood applications, and surge in funding for establishing public cord blood storage banks.

The global cord blood banking services market is driven by factors including various marketing strategies adopted by key players, rise in R&D activities for cord blood applications, and surge in funding for establishing public cord blood storage banks. However, expensive nature of the processing, adversities related to find a match in the donor list, and legal & ethical issues regarding gathering of cord blood hinder the market growth. On the other hand, advancements related stem cell therapeutics and untapped potential in the developing regions would offer opportunities for the market growth.

The private cord blood banks segment held the major share of the market in 2016, and is estimated to register the highest growth rate by 2023. This is due to the advanced services offered by the private banks, storage of the cord blood for specified duration, and ease in retrieval of the cord blood whenever necessary for treating any genetic disease.

Key Benefits

  • This report entails a detailed quantitative analysis of the current market trends from 2016 to 2023 to identify the prevailing opportunities.
  • Market estimations are based on comprehensive analysis of the key developments in the industry.
  • Geographical analysis assists to understand the regional market to provide strategic business planning.
  • The development strategies adopted by key manufacturers are enlisted to understand the competitive scenario of the market.

The key companies analyzed in the report are China Cord Blood Corporation, CBR Systems, Inc., Cord Blood America, Inc., Cryo-Cell International, Inc., Cordlife Group Limited, Lifeforce Cryobanks, Cryo-Save AG, ViaCord, Inc., National Cord Blood Program, CordVida, Virgin Health Bank, CryoHoldco, and Vita34.

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