The latest market report published by Credence Research, Inc. “Global Cord Blood Banking Services Market - Growth, Future Prospects, Competitive Analysis, 2018 - 2026,” the global cord blood banking services market was valued at US$ 2,924.4 Mn in 2017, and is expected to reach US$ 8,996.7 Mn by 2026, expanding at a CAGR of 13.4% from 2018 to 2026.
The blood remaining in the umbilical cord post-delivery is called as cord blood. During labor there is maternal–fetal blood transfer containing abundant stem cells to boost their immunity. Cord blood has been approved by FDA for the treatment of diseases such as leukemia, anemia, metabolic diseases, cancer, bone marrow failure etc. The complications occurring in stem cells transplants are being addressed by cord blood and related immune and stem cell research. Cord blood is being thoroughly studied by researchers throughout the globe in order to develop them as regenerative medicine.
Currently private cord blood banking service providers are dominating the type segment. Proactive marketing policies and additional health insurance benefits provided by private players has been successful in attracting potential customer base. The key advantage associated with private banking service providers is the one time processing fee with free cord blood storage for 20 years.
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The ace players providing cord blood banking services market are Cord Blood America, Inc., Cryo-Save AG, ViaCord, Inc., China Cord Blood Corporation, Cordlife India Limited, CBR Systems, Inc., StemCyte, Cryo-Cell International, Inc., CryoHoldco, and Vita34 AG.