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Cord Blood Banking Market 2020 by industry trends, statistics, key companies growth and regional forecast

Author : Ronak Bora | Published Date : 2020-09-16 

Cord Blood Banking Market report offers in-depth analysis of the industry size, share, major segments, and different geographic regions, forecast for the next five years, key market players, and premium industry trends. It also focuses on the key drivers, restraints, opportunities and industry challenges.

In the past few years, the global cord blood banking market has developed as one of the leading verticals of the healthcare sector. There has been a demand of the product towards the treatment of various life-threatening illnesses such as thalassemia, leukemia and various types of cancers.

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In the year 2018, a total of 4,837 unrelated bone marrow and cord transplantations were performed across the United States, essentially showcasing the criticality of cord blood banking institutions towards the treatment of fatal disorders with reduced complications and improved medical outcomes. Donation of cord blood to a public blood bank has been regarded as an altruistic act since it is made available to treat potential recipients across the world.

Public banks usually store only those cord blood units that are likely to contain a considerable amount of cells for a transplant as they intend to bank as many blood units as possible for use in established treatments. In the last few years, leading nations and healthcare regulators globally have launched various initiatives to encourage developments in the public cord blood banking system.

The American Academy of Pediatrics, for instance, had released a policy statement in 2017 which called for a renewed emphasis on the development of public cord blood banking institutions and educate the masses about the advantages of the same. The policy statement further observed that an increasing number of states are mandating universal newborn screening for ailments which can be treated with stem cell transplantation – a factor that makes it imperative to establish new public cord blood banking institutions.

One of the major factors that is impelling the growth potential of public cord blood banking industry is the formulation of legislative provisions which promote new discoveries in the fields of regenerative medicine and cellular therapy. In this regard, it is quite prudent to take note of the legislative reauthorization of the Stem Cell Therapeutic and Research Act in the United States Senate and House of Representatives in 2015. The law would not only support the establishment of public cord blood banking institutions but would also grant USD 23 million each year for a period of five years to grow cord blood inventory in the nation.

Apart from affirmative policy statements and legislative provisions, the public cord blood banking market is gaining traction due to the fact that some nations such as Italy and France do not permit the establishment of private cord blood banks. Furthermore, an increasing number of funding programs by regional governments to overhaul stem cell cord blood banking research is augmenting the public cord blood banking industry. In fact, as per a research report by Global Market Insights, Inc., the revenue share of public cord blood banking industry is slated to exceed USD 3,931 million by 2025.

Derived from the placenta of healthy newborn infants, cord blood was being discarded as medical waste until it was found to be an excellent source of stem cells which is used in hematopoietic stem cell transplantation to treat some diseases. As of now, the priority of the healthcare fraternity appears to follow provisions that would streamline, enforce, and enhance the operational and ethical standards including financial disclosures, informed consent policies, and conflict-of-interest policies for institutions, physicians, and organizations which form a significant component of cord blood banking market. As per reliable sources, the commercialization matrix of the cord blood banking industry is estimated to surpass USD 23 billion by 2025. 

Browse full table of contents (TOC) of this report @ https://www.gminsights.com/toc/detail/cord-blood-banking-market

Partial Chapter of the Table of Content 

Chapter 4.     Cord Blood Banking Market, By Type of Bank

4.1. Key segment trends

4.2. Public

4.2.1. Market size, by region, 2014 – 2025 (USD Million)

4.3. Private

4.3.1. Market size, by region, 2014 – 2025  (USD Million)

Chapter 5.     Cord Blood Banking Market, By Services

5.1. Key segment trends

5.2. Processing

5.2.1.  Market size, by region, 2014 – 2025 (USD Million)

5.3. Storage

5.3.1.  Market size, by region, 2014 – 2025 (USD Million)

5.4. Others

5.4.1.  Market size, by region, 2014 – 2025 (USD Million)

About Author

Ronak Bora

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for fractovia and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and sport. [email protected] | https://twitter.com/RonakBora26

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