Transparency Market Research (TMR) has published a new report titled, ‘Cord Blood Banking Services Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019–2027’. According to the report, the global cord blood banking services market was valued at US$ 25.8 Mn in 2018 and is projected to expand at a CAGR of 10.9% from 2019 to 2027. Overview
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 is practiced for using the cord blood stem cells for the purpose or repopulating blood and treating various medical conditions. This report studies the current market condition and future potential for the cord blood banking market. North America dominated the global cord blood banking services market in 2018 and the trend is anticipated to continue during the forecast period. Adoption of new technologies such as stem cell research, with higher awareness, significant health care spending in overall national budgets, early availability of advanced technologies, and higher penetration of research activities across the country are expected to drive the market in North America. Asia Pacific is likely to be a highly lucrative market for retinal disorders and it is expected to expand at a high CAGR during the forecast period
Request a PDF Sample - https://www.transparencymarketresearch.com/sample/sample.php? flag=S&rep_id=1741 High Incidence of genetic disorders and rise in hematopoietic stem cell transplantation rates to Drive Market
High incidence of genetic disorders is likely to drive the market. Cord blood banking services widely used in treatment genetic disorder like cancer, metabolic disorders and others. High incidence of different type cancer is likely to drive the growth of this market. According to World Health Organization, around 437,033 new leukaemia cases found in 2018 and 309.006 death occurred due to leukaemia. Increasing number of people with cancer is fuel the demand for cord blood banking services. Rise in hematopoietic stem cell transplantation rates is also major factor for boosting the growth of the cord blood banking services market. Hematopoietic stem cell transplantation is the treatment of stem cells (multipotent hematopoietic), usually derived from peripheral blood, bone marrow, or umbilical cord blood. The transplantation is mostly performed for the treatment of bone marrow or blood cancers.
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