The global cord blood banking services market is expected to exhibit a robust 11.4% CAGR over the forecast period from 2017 to 2023, according to a new report from Market Research Future (MRFR). The global cord blood baking services market is likely to be driven by the growing research into the medical utility of stem cells and cord blood, and the growing establishment of the infrastructure required to create a strong cord blood banking services network.

The growing realization of the utility of stem cells in treating a number of metabolic, immune, and blood disorders is likely to be a major driver for the global cord blood banking services market trends over the forecast period. Stem cells retain the basic genetic structure of an individual in the form of pluripotent cells that can be turned into a wide variety of cell types within the human body. This has made them highly important in the research field of diseases such as blood-related diseases, immune system diseases, cancers, and metabolic disorders. Cord blood banking remains the most effective way of acquiring, storing, and harnessing stem cells, making the cord blood banking services market likely to grow over the forecast period.

The rising government support to the cord blood banking services sector and increasing private investment in the field are also likely to be vital for the global cord blood banking services market over the forecast period.

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Segmentation:

The global cord blood banking services market has been segmented on the basis of storage service, component, application, end user, and region.

By Storage service

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

By Component

Cord Blood
Cord Tissue
Placenta
Others

By Application

Cancers
Blood Disorders
Metabolic Disorders
Immune Disorders
Osteoporosis

By End user

Hospitals
Pharmaceutical Research
Research Institutes
others

Competitive Analysis:

Leading players in the global cord blood banking services market include China Cord Blood Corporation, CBR Systems Inc., Virgin Health Bank, Vita 34 International, Stem Cell Cryobank Inc., and Americord Registry.

Regional Analysis:

The global cord blood banking services market is segmented by region into the Americas, Europe, Asia Pacific, and the Middle East and Africa.

The Americas, followed by Europe, is expected to retain the dominant share in the global cord blood banking services market over the forecast period due to the widespread adoption of cord blood banking services in the region. Research efforts in the use of stem cells for medical purposes are also rife in the region, leading to strong growth prospects for the cord blood banking services market in the region. The increasing awareness about the utility of stem cells in treating a wide range of disorders in North America is also likely to be a major driver for the cord blood banking services market in the Americas over the forecast period.

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Europe is also likely to retain a significant share in the global cord blood banking services market over the forecast period due to the growing use of stem cells in medical applications and growth in the related infrastructure.

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