Cord Blood Banking Services Market-Opportunity Analysis and Industry Forecast, 2017-2023
Cord Blood Banking Services Market by Storage Services (Public Cord Blood Banks and Private Cord Blood Banks) - Global Opportunity Analysis and Industry Forecast, 2017-2023
- Report Number: 1930
- Publish Date: 19-May-2018
- Pages: 137
- Tables: 43
Global Cord Blood Banking Services Market Overview:
Global Cord Blood Banking Services Market was valued at $1,126 million in 2016, and is estimated to reach at $2,772 million by 2023, registering a CAGR of 13.8% from 2017 to 2023. Cord blood contains a rich source of stem cells, which can treat more than 80 genetic diseases. Cord blood stem cells can treat chronic diseases such as cancer, diabetes, blood diseases, and immune diseases. Although, only a small amount of cord blood can be collected from a single umbilical cord, it contains large number of stem cells and is the only type of stem cell stored for future use. These cells are collected from hospitals and nursing homes and stored in cord blood banks for future use and can be stored for an average of 20-25 years. Government authorities have supported research and clinical trials of cord blood stem cells, thus increasing the interest of healthcare companies to invest in research and commercialization of cord blood stem cell therapies.
Market for cord blood banking services has increased since the last 20 years. At present, the market competition is increasing while the companies are trying to increase the awareness related to the benefits of cord blood storage. For instance, in 2014, Cord Blood Registry and The Institute for Transfusion Medicine collaborated to launch a multi-year initiative to increase awareness about cord blood cells. With the help of campaigns, expectant parents will be educated and guided about options available for cord blood banking related to the different financial schemes for storage and donation, which is expected to boost the market growth.
The global cord blood banking services industry is segmented based on storage services and region. Based on storage services, it is classified into public cord blood banks and private cord blood banks. Geographically, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Drivers, Restraints, and Opportunities
The impact of the driving factors is expected to surpass the effect of restraints. Moreover, advancement in therapeutic application, untapped opportunities in the developing regions, and initiatives to spread awareness are expected to provide new avenues for the growth of market in the near future.
North America accounted for the highest market share in the in 2016, and is expected to continue this trend throughout the forecast period.
The key players operating in this market include China Cord Blood Corporation, Cord Blood America, Inc., CBR Systems, Inc., Cordlife Group Limited, Cryo-Cell International, Inc., Cryo-Save AG, Lifeforce Cryobanks, National Cord Blood Program, ViaCord, Inc., Virgin Health Bank, CordVida, Americord, CryoHoldco, and Vita34.
The other prominent players in the value chain include Maze Cord Blood, The University of Colorado Cord Blood Bank, StemCyte, CorCell, Lifebank USA, Cryoviva, Genecord, AlphaCord, FamilyCord, Cells4Life, Michigan Blood, CariCord, and LifeCell.
- 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.
Cord Blood Banking Services Market Key Segments:
By Storage Services
- Public Cord Blood Banks
- Private Cord Blood Banks
- North America
- Rest of Europe
- Hong Kong
- South Korea
- Rest of Asia-Pacific
- Latin America
- Middle East & Africa
- Rest of LAMEA
Table Of Content
Chapter: 1 INTRODUCTION
1.1. REPORT DESCRIPTION
1.4.1. Secondary research
Chapter: 2 EXECUTIVE SUMMARY
2.1. CXO PERSPECTIVE
Chapter: 3 MARKET OVERVIEW
3.1. MARKET DEFINITION AND SCOPE
3.2.1. Top impacting factors
3.3. TOP PLAYER POSITIONING
184.108.40.206. Increase in R&D activities for application of cord blood
220.127.116.11. Legal and ethical issues during collection
18.104.22.168. Advancement in therapeutic application
Chapter: 4 CORD BLOOD BANKING SERVICES MARKET, BY STORAGE SERVICES
4.1.1. Market size and forecast
4.2. PUBLIC CORD BLOOD BANKS
4.2.1. Key market trends
4.3. PRIVATE CORD BLOOD BANKS
4.3.1. Key market trends
Chapter: 5 CORD BLOOD BANKING SERVICES MARKET, BY GEOGRAPHY
5.1.1. Market size and forecast
5.2. NORTH AMERICA
5.2.1. Key market trends
22.214.171.124. U.S. market size and forecast
5.3.1. Key market trends
126.96.36.199. France market size and forecast
5.4.1. Key market trends
188.8.131.52. Japan market size and forecast
5.5.1. Key market trends
184.108.40.206. Latin America market size and forecast
Chapter: 6 COMPANY PROFILES
6.1. AMAG PHARMACEUTICALS, INC.
6.1.1. Company overview
6.2. AMERICORD REGISTRY LLC
6.2.1. Company overview
6.3. CHINA CORD BLOOD CORPORATION
6.3.1. Company overview
6.4. CORD BLOOD AMERICA, INC.
6.4.1. Company overview
6.5. CORDLIFE GROUP LIMITED
6.5.1. Company overview
6.6.1. Company overview
6.7. CRYO-CELL INTERNATIONAL, INC.
6.7.1. Company overview
6.8. CRYOHOLDCO DE LATINOAMERICA, S.A.P.I. DE C.V.
6.8.1. Company overview
6.9. ESPERITE N.V.
6.9.1. Company overview
6.10. LIFEFORCE CRYOBANK SCIENCES, INC
6.10.1. Company overview
6.11. NATIONAL CORD BLOOD PROGRAM
6.11.1. Company overview
6.12. PERKINELMER, INC.
6.12.1. Company overview
6.13. VIRGIN GROUP LIMITED
6.13.1. Company overview
6.14. VITA 34 AG
6.14.1. Company overview
LIST OF TABLES
TABLE 1. PUBLIC VS. PRIVATE CORD BLOOD BANK SERVICES
LIST OF FIGURES
FIGURE 1. CORD BLOOD BANKING SERVICES MARKET SEGMENTATION
Umbilical cord blood is one of the rich sources of stem cells compared to other available alternatives. Cord blood banking services have gained traction, as cord blood is a more reliable source of stem cells as compared to other stem cells sources such as bone marrow stem cells. The market for cord blood in therapeutics of chronic diseases, such as immune and blood-related diseases, is expected to increase in the near future due to the rise in incidence of chronic diseases globally. Moreover, the advancement in technology with respect to collection and storage of cord blood increases its importance in practical and therapeutic applications.
Private cord blood banks have a dominant share, in terms of revenue, in the current scenario. However, a paradigm shift is expected to be observed from private to public as the cord blood from public banks are used for research activities related to applications and therapeutics. Furthermore, the rise in awareness about the benefits of using public cord blood bank for storage purposes is expected to fuel the market growth. In addition, R&D activities on cord blood stem cells present new opportunities for pharmaceutical companies to introduce drug and therapies, which lacked conventional treatment earlier. Furthermore, the increase in R&D activities is expected to increase the demand for cord blood.
The use of cord blood banking services is the highest in North America, owing to the maturity of the market, high awareness related to the benefits of storing cord blood, and increase in disposable income among customers. Although the use of cord blood banking services in Asia-Pacific and LAMEA is low, the adoption rate is expected to increase, owing to rise in disposable income and awareness related to the benefits of cord blood among expectant parents, contributing toward the market growth.