CORD BLOOD BANKING SERVICES MARKET ANALYSIS | Coherent Market Insights

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• CORD BLOOD BANKING SERVICES MARKET ANALYSIS
• Umbilical cord blood banking or cord blood
  banking is the practice of preserving blood from
  the umbilical cord for future use. Such preserved
  cord blood is used in medical therapies in the
  similar fashion as that of stem cells derived
  from bone marrow.
• Cord blood banking refers to collection and
  preservation of blood derived from the umbilical
  cord. Umbilical cord blood is a potential source
  of progenitor cells, which can be used for
  reconstitution of tissue, organs, and other
  functional areas.
• Statistics
• The global cord blood banking services market is
  estimated to account for US 42.9 Bn in terms of
  value by the end of 2027

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• Global Cord Blood Banking Services Market
  Drivers
• Increasing prevalence of cancer is expected to
  propel growth of the global cord blood banking
  services market over the forecast period. For
  instance, according to the American Cancer
  Society, in 2019, there will be an estimated
  1,762,450 new cancer cases diagnosed and 606,880
  cancer deaths in the U.S.
• Moreover, increasing number of blood donor
  centers is also expected to aid in growth of the
  market. For instance, in April 2020, BioIVT, a
  provider of research models and services for drug
  and diagnostic development, started its new blood
  donor center on the Tufts University campus in
  Medford, Massachusetts, U.S., to support academic
  and pharmaceutical researchers involved in
  COVID-19, cell and gene therapy research.
• Statistics
• North America held dominant position in the
  global cord blood banking services market in
  2019, accounting for 49.0 share in terms of
  value, followed by Europe and Asia Pacific,
  respectively

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• Figure 1 Global Cord Blood Banking Services
  Market Share () Value, By Region, 2019

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• Global Cord Blood Banking Services Market
  Restraints
• Scarcity of compatible cord blood units is a
  major factor hindering growth of the market.
  There has been a shortage of cord blood units
  throughout North America particularly for
  minorities. Short supply of cord blood units
  across the globe particularly affects ethnic
  minorities.
• Moreover, the average cost for collection,
  testing, and processing of cord blood units is
  around US 1,600 with the recurring annual
  charges of around US 100. Such chargeable
  services include testing for infectious diseases,
  typing, and contamination. Public banks do not
  charge for storage and collection of cord blood
  units. However, the ownership and the
  availability of blood units will depend on the
  bank. Such scenario is also expected to limit the
  market growth.

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Cord Blood Banking Services Market Report
Coverage

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• Global Cord Blood Banking Services Market
  Opportunities
• RD in use of cord blood in the treatment of
  neurodegenerative disorders is expected to offer
  lucrative growth opportunities for players in the
  global cord blood banking services market. For
  instance, in April 2020, researchers from
  University of LAquila, Italy, reported that
  suggest that cord blood serum -based eye drops
  might be successfully used to mitigate retinal
  neurodegenerative processes such as age-related
  macular degeneration.
• Moreover, use of cord blood in cancer diagnosis
  and treatment is also expected to aid in growth
  of the market. For instance, in March 2020,
  researchers from Vinmec Healthcare System,
  Vietnam, reported that cryo umbilical cord blood
  mononuclear cells source is effective in
  generating allogeneic dendritic cells and their
  exosomes can be used for vaccinating against
  cancer.
• Statistics
• The global cord blood banking services market was
  valued at US 26.8 Bn in 2019 and is forecast to
  reach a value of US 42.9 Bn by 2027 at a CAGR of
  6.1 between 2020 and 2027.

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Figure 2 Global Cord Blood Banking Services
Market Value (US Bn), 2016 2027

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• Market Trends/Key Takeaways
• Government initiatives to improve cord blood bank
  licensing is boosting growth of the market. For
  instance, in December 2019, China's National
  Health Commission issued a new policy allowing
  the relevant Provincial Health Commissions to
  approve cord blood bank licenses in 18 pilot Free
  Trade Zones in China.
• Moreover, launch of new genetic screening tests
  is also offer conducive environment for market
  growth. For instance, in November 2019, CBR
  Systems, Inc., in collaboration with Sema4 a
  health intelligence company, launched ReadyGen, a
  genetic screening test that analyzes a child's
  DNA for more than 200 conditions that can affect
  children before the age of 10.

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• Regulations
• U.S.
• American Association of Blood Banks (AABB) is a
  non-profit international association of
  institutions and individuals who are engaged in
  cell transplantation and transfusion medicine.
  The standards framed by the AABB are updated
  every two years and by its subject matter
  experts.
• The AABB accredited cord blood banks are eligible
  to perform following tests upon cord blood
  banking
• Tests for mothers HIV-I and II, Hepatitis B and
  C, Syphilis, HTLV-I and II and CMV
• Tests for family family health history
• Cord blood tests red cell antibodies, CD34,
  ABO, Rh, bacterial or fungal contamination and
  WBC
• Whenever cord blood bank is transferred from any
  AABB accredited bank, the organization requires
  reporting of patient outcome from such blood
  bank. It should be noted that AABB accreditation
  does not need a specific cord blood processing
  procedure.
• Global Cord Blood Banking Services Market
  Competitive Landscape
• Major players operating in the global cord blood
  banking services market include, China Cord Blood
  Corporation, Cord Blood America, Inc., CBR
  Systems, Inc., Cordlife Group Ltd., Cryo-Cell
  International, Inc., StemCyte, Inc., Americord
  Registry, Cryo-Save Group AV, NeoStem, Inc.,
  Blood Centers of America, and ViaCord, Inc.

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• Global Cord Blood Banking Services Market Key
  Developments
• Major players in the market are focused on
  adopting partnership strategies to enhance their
  market share. For instance, in August 2019,
  StemCyte, Inc. renewed its partnership with Sharp
  HealthCare, which includes Sharp Mary Birch
  Hospital for Women Newborns, a center in the
  U.S. offering maternity, neonatal, and women's
  surgical services.
• Major players in the market are also focused on
  launching new products to expand their product
  portfolio. For instance, in July 2019, Americord
  Registry launched Placental Tissue 2.0, its
  newest stem cell banking product, which stores
  live amniotic membrane.

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