The size of the global cord blood bank market is slated to accumulate substantial gains in the foreseeable future, as a result of the acceleration of R&D activities to explore potential therapeutic pathways for cord blood cells. Studies suggest that umbilical cord blood has a myriad of benefits of use, such as the ability to replenish blood and the immune system. The product can also be cryopreserved for future use, boosting the establishment of public and private banks. More than 800,000 units of cord blood are being cryopreserved in public banks and about 5 million additional units are stored in private banks.
It is speculated that the UK is likely to emerge as a highly significant pocket of revenue for the global cord blood bank market. In fact, reports estimate that the size of the UK cord blood bank industry would reach $ 1,050.4 million by 2025. The growth can be attributed to the fact that UK cord blood banks are running different programs in order to provide complete information to potential customers. mothers, educating medical professionals and the public about the potential benefits of cord blood transplants.
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Umbilical cord blood transplantation is considered a viable therapy option for cancer patients, which offers a unique ability to help rebuild a healthy immune system damaged by the disease. Lymphoma and leukemia are two main forms of cancer that can be treated with umbilical cord blood. According to a study by the New England Journal of Medicine, bone marrow and umbilical cord cells are equally effective in treating leukemia. The study that was done in the year between 1996-2001, revealed that patients aged 16-60 with several cases of leukemia treated with stem cell transplantation. Similar studies that support the importance of treatment will undoubtedly drive the expansion of the cord blood bank market in the coming years.
In terms of segmentation by type of bank, the private segment posted revenue of $ 13.7 billion in 2018, driven by the growing trend of long-term storage and preservation of cord cells, as well as their availability in discounted offers . In addition, heightened awareness of the benefits of cord blood banks is anticipated to increase the overall value of production in the cord blood bank market during the forecast period.
Based on services, the global market for umbilical cord blood banks in the storage services segment is expected to have a CAGR of 5.6% by 2025, due to increased knowledge about the benefits of storing cord blood cells in Private banks, along with increased government initiatives to encourage parents to donate their newborn babies’ umbilical cord cells to treat various illnesses.
Major players in the cord blood bank market include ViaCord LLC, Jeevan Stem Cell Foundation, LifeCell, Americord, Global Cord Blood Corporation, FamiCord, Cryo-Save AG and CBR Systems, Inc., among others. These companies are focusing on gaining profitable growth opportunities through a variety of strategies, such as R&D and business expansion.
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Partial Chapter of the Index
Chapter 4. Umbilical cord blood banking market, by type of bank
4.1. Main segment trends
4.2.1. Market size, by region, 2014 – 2025 (US $ million)
4.3.1. Market size, by region, 2014 – 2025 (US $ million)
Chapter 5. Umbilical cord blood bank industry, for services
5.1. Main segment trends
5.2.1. Market size, by region, 2014 – 2025 (US $ million)
5.3.1. Market size, by region, 2014 – 2025 (US $ million)
5.4.1. Market size, by region, 2014 – 2025 (US $ million)
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