Market Overview –
By 2023, it is expected that the global Umbilical Cord Blood Banking Market will grow from its current estimated value of USD 17.15 billion to USD 23.06 billion at a CAGR of 6.1 percent. The umbilical cord supplies oxygen and nutrients to the developing foetus throughout pregnancy. In the course of pregnancy, the tissue is usually thrown away or removed from the mother. An additional step in preparing for delivery and bolstering the immune systems of both mother and child is the transfer of stem cells and immune cells just prior to the actual delivery. Medical professionals now recommend storing umbilical cord stem cells as soon as possible after delivery due to the discovery that they are a valuable source of stem cells. The stem cells from cord blood are collected, processed, and stored for future use through Cord Blood Banking services.
Cord blood banking services have seen a surge in demand due to the increasing prevalence of autoimmune diseases and the variety of subtypes that fall under this umbrella. Growth in this market is primarily due to the prevalence of Treg cells in umbilical cord blood, which play a critical role in preventing allergic reactions. Over 80 genetic disorders, including cancer and diabetes, can be treated with the stem cells found in cord blood.
Data management solutions, as well as industry experts, verify the authenticity of the data gathered by our analysts from both primary and secondary sources. There will be a focus on both existing industry players and new market entrants in this report on the global Umbilical Cord Blood Banking market. The ongoing COVID-19 pandemic will also be examined in this report, as will its current and predicted effects.
Impact of COVID-19 –
The long-term effects of COVID-19 are expected to have a negative impact on industry growth over the forecast period, making it an unprecedented global public health emergency. As we continue to dig deeper into the issues surrounding COVID-19, we’re expanding our research framework to include all of the relevant information. The report provides information on COVID-19 that takes into account the shifts in consumer demand, purchasing patterns, supply chain rerouting, market dynamics, and significant government interventions. In light of the impact of COVID-19 on the market, the updated study offers new insights, analysis, estimates, and forecasts.
Market Dynamics –
Cord blood banking services have grown in popularity because of the numerous benefits associated with storing the blood at the time of delivery. Stem cells can treat more than 80 genetic and chronic diseases, including cancer, diseases, and auto-immune diseases. Furthermore, neither the baby nor the mother will be harmed by the storage of cord blood at the time of delivery. Due to the fact that the cord blood is collected immediately after the birth of the baby. Because of this, the Cord Blood Banking Services industry is growing at a faster rate than most other industries.
In recent years, the growth of the Cord Blood Banking Services industry has been fueled by the increasing prevalence of cancer and other genetic diseases like Lymphoma, Leukemia, Edwards syndrome, and other disorders related to bone marrow and the immune system, such as arthritis, Wiskott-Aldrich syndrome.
Recent developments –
More than 7,000 inherited diseases can now be detected using new genomic profiling tests developed using next-generation sequencing methods. As a result of these findings, patients can feel more secure about undergoing a transplant.
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Complete automation is possible with the AXP II system, from isolation and collection to storage. Allows the process to be completed within the regulatory system and reduces volume while maintaining consistent buffy coat volume.
Key Players –
CBR Systems, Inc.
China Cord Blood Corporation
Cord Blood America, Inc.
CordLife Group Ltd.
Cryo-Cell International, Inc.
LifeCell International Pvt., Ltd.
Vita 34 AG
By Type –
Preservation and Storage
Collection and Transportation
By Applications –
Bone marrow failure Syndrome
By Regions –
Rest of the World