Cord Blood Banking Services Market Report, Size Segments and Growth Research Strategies 2021

Author : univdatos
Publish Date : 2021-11-30 10:18:10
Cord Blood Banking Services Market Report, Size Segments and Growth Research Strategies 2021

A comprehensive overview of the Cord Blood Banking Services Market is recently added by UnivDatos Market Insights to its humongous database. Cord blood banking services market report has been aggregated by collecting informative data from various dynamics such as market drivers, restraints, and opportunities. This innovative report makes use of several analyses to get a closer outlook on the cord blood banking services market. The report offers a detailed analysis of the latest industry developments and trending factors in the market that are influencing the market growth. Furthermore, this statistical market research repository examines and estimates the cord blood banking services market at the global and regional levels.

Market Overview

Cord blood banking services collect potentially life-saving stem cells from the umbilical cord and placenta and store them for future use. They can treat cancer, blood diseases such as anemia, and some immune system disorders, which disrupt the body's ability to defend itself. This fluid is easy to collect and has 10 times more stem cells than those collected from bone marrow. For instance, in March 2020, the researchers from Vinmec Healthcare System, Vietnam, reported that cryo umbilical cord blood mononuclear cells source was effective in generating allogeneic dendritic cells and their exosomes can be used for vaccinating against cancer. Also, increasing mergers and acquisitions are expanding the reach of researchers over the world. In September 2019, Natera, Inc. (NASDAQ: NTRA) and CBR (Cord Blood Registry) announced their acquisition by CBR, a California Cryobank Life Sciences company, to form newborn stem cell collection and storage organization, of Natera’s Evercord cord blood and tissue banking business.

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Furthermore, the increasing application of cord blood in the treatment of chronic diseases such as diabetes, cancer, immunodeficiency disorders, and genetic disorders is also promoting the cord blood bank services market. For instance, in September 2018 CBR (Cord Blood Registry), a newborn stem cell company, has announced the publication of the results of the first clinical trial evaluating the use of autologous umbilical cord blood in children with acquired sensorineural hearing loss (SNHL). The study was published in August 2018 by the Journal of Audiology & Otology, and institutional funding was provided solely by CBR, a California Cryobank Company. Additionally, the increasing research in the field of cord blood for treating neurodegenerative disorders will boost the market further during the analysed period.

COVID-19 Impact

The Covid-19 pandemic has affected so many areas worldwide, including the economy, as well as many medical fields. The pandemic has also impacted all aspects of cord blood preservation on the donor, as well as the recipient, side for some instance of time. But in July 2020, when FDA approves a clinical trial exploring the use of umbilical cord stem cells to treat severe cases of Covid-19 the market of cord blood banking services again started flourishing. For instance, in August 2020 CBR by Generate Life Sciences, a private newborn stem cell bank, and NantKwest, a clinical-stage, natural killer cell-based immunotherapy company, announced a collaboration to develop a COVID-19 treatment leveraging newborn stem cells. CBR will provide research-donated umbilical cord tissue-derived mesenchymal stem cells (MSCs) to NantKwest for efficient and robust expansion utilizing their proprietary modular, closed bioreactor system from NantKwest affiliate ImmunityBio, Inc.

Global Cord Blood Banking Services Market report is studied thoroughly with several aspects that would help stakeholders in making their decisions more curated.

By Storage Services, the market is primarily bifurcated into

  • Public Cord Blood Banks
  • Private Cord Blood Banks
  • Hybrid Cord Blood Banks

The private cord blood banks segment grabbed the major market share in 2020, owing to the high cost of collection, processing, and storage along with the maximum awareness created by marketing actions and strategies accomplished by the key companies lead to huge revenue share of private banks across the world.

By Component, the market is primarily bifurcated into

  • Cord Blood
  • Cord Tissue
  • Placenta
  • Others

The cord blood segment ruled the market and accounted for the maximum share in 2020 due to the augmenting awareness of people about conserving cord blood stem cells of newborns to treat chronic diseases like cancer, diabetes, immunodeficiency disorders, genetic disorders, and others.

By Application, the market is primarily bifurcated into

  • Cancer
  • Blood Disorders
  • Metabolic Disorders
  • Osteoporosis
  • Immunodeficiency Disorders
  • Bone Marrow Failure Syndrome

The cancer segment dominated the market in 2020. The highest growth of this segment is accredited due to the growing incidences of cancer across the world. 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

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By End-User, the market is primarily bifurcated into

  • Hospitals
  • Research Institutes
  • Specialty Clinics
  • Others

The research institutes segment ruled the market and accounted for the maximum share in 2020 due to the increasing research and development in the field of cord blood for treating neurodegenerative disorders and other chronic diseases.

Cord Blood Banking Services Market Geographical Segmentation Includes:

  • North America (United States, Canada, Rest of North America)
  • Europe (Germany, United Kingdom, Italy, France, Spain, Rest of Europe)
  • Asia-Pacific (China, Japan, India, Australia, Rest of Asia-Pacific)
  • Rest of the World

Based on the estimation, North America constitutes a major market for cord blood banking services and generated maximum revenue in 2020 owing to the high government funding, robust personal healthcare spending, developed awareness programs, rapid acceptance of new analytical techniques, and the presence of skilled professionals and physicians.

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The major players targeting the market includes

  • CBR Systems Inc.
  • China Cord Blood Corporation
  • Americord
  • Cordlife Group Limited
  • Cryo-Cell International Inc.
  • Cryo-Save AG
  • Vita34
  • CordVida
  • ViaCord Inc.
  • Virgin Health Bank

Competitive Landscape

The degree of competition among prominent global companies has been elaborated by analyzing several leading key players operating worldwide. The specialist team of research analysts sheds light on various traits such as global market competition, market share, most recent industry advancements, innovative product launches, partnerships, mergers, or acquisitions by leading companies in the cord blood banking services market. The major players have been analyzed by using research methodologies for getting insight views on global competition.

Key questions resolved through this analytical market research report include:

  • What are the latest trends, new patterns, and technological advancements in the cord blood banking services market?
  • Which factors are influencing the cord blood banking services market over the forecast period?
  • What are the global challenges, threats, and risks in the cord blood banking services market?
  • Which factors are propelling and restraining the cord blood banking services market?
  • What are the demanding global regions of the cord blood banking services market?
  • What will be the global market size in the upcoming years?
  • What are the crucial market acquisition strategies and policies applied by global companies?

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Category : business

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