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Worldwide Umbilical Cord Blood Banking Market Analysis:
Axiom MRC estimated the global umbilical cord blood banking market value at US$ 5.60 Billion in 2017 and it is expected to grow at a CAGR of 13.6% from 2019 to 2024. key factor driving growth of global umbilical cord blood banking market is the expanding portfolio of diseases that can be cured by the use of umbilical cord blood and rising awareness in emerging economies. Furthermore, the global umbilical cord blood banking market is growing rapidly due to growing prevalence of chronic diseases coupled with regenerative medicine.
The regulatory body checks for the standardization of recruitment, collection, donor screening, transport, testing, processing, storage, freezing, and distribution and further checks on the thresholds of quality. Furthermore, the high cost of storage and collection is another factor that limits the market growth.
Umbilical Cord Blood Banking Markets Leading Partners:
The global market is dominated by key players such as AlphaCord, Americord, CBR Systems, Inc., China Cord Blood Corporation, CorCell, Cord Blood America, Inc., Cryo-Cell International, Inc., Cryo-Save AG, Cordlife Group Ltd., FamilyCord, LifeUSA, LifeCell, Maze Cord Blood, StemCyte Inc., Vita 34 AG, ViaCord Inc, among others.
Umbilical Cord Blood Banking Market Report Segmentation Based on Following:
Umbilical Cord Blood Banking Market by Type of Storage:
Based on types of storage, the global umbilical cord blood banking market has been segmented into public cord blood banks, private cord blood banks, and coordinated public and private cord blood banks.
Umbilical Cord Blood Banking Market by Application:
Based on applications, the global umbilical cord blood banking market has been segmented into cancer, blood diseases, metabolic disorders, immune diseases, osteoporosis, and others.
Umbilical Cord Blood Banking Market by End User:
The various end-users of the umbilical cord blood banking are hospitals, pharmaceutical companies, and research institutes. Among the various types of storage, private blood banking accounted for larger share of the market.
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Umbilical Cord Blood Banking Market Geography:
Based on geography, the global umbilical cord blood banking market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America, includes countries U.S., Canada, and Mexico whereas Europe, includes Germany, France, UK, Italy, and Rest of Europe.
About Axiom MRC:
Axiom Market Research & Consulting™ (also known as Axiom MRC), is a full-service market research and data analytics firm, driven by a simple aim of providing key market intelligence to companies to assist them in taking informed business decisions pertaining to their marketing strategy, investments, new product launches, market competition, consumer or end users, social media trends etc.
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