Global cord blood banking market expected to reach $4.5 billion by 2030: AMR

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Increasing awareness of cord blood cells among people, increasing adoption of cord blood banking services to treat various diseases such as cancer, diabetes, immune disorders and others, growing prevalence of cord blood banking services in maternity wards and increase in population across the world are expected to drive the growth of the global cord blood banking services market. By application, diabetes segment held the majority share in 2020. By region, LAMEA is expected to quote the fastest CAGR by 2030.

/EIN News/ — Portland, OR, April 27, 2022 (GLOBE NEWSWIRE) — According to the report released by Allied Market Research, the Cord Blood Banking Market generated $1.3 billion in 2020 and is expected to reach $4.5 billion by 2030, growing at a CAGR of 13.3% from 2021 to 2030. The report provides an in-depth analysis of the top pockets of investment, winning strategies, drivers and opportunities, market size and estimations, competitive scenario and hesitant market trends.

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Increasing awareness of cord blood cells among people, increasing adoption of cord blood banking services to treat various diseases such as cancer, diabetes, immune disorders and others, growing prevalence of cord blood banking services in maternity wards and increase in population across the world are expected to drive the growth of the global cord blood banking services market. On the other hand, the exorbitant cost of services is expected to hamper growth to some extent. However, increasing investment in research and commercialization of cord blood stem cell therapies by healthcare companies is expected to create huge opportunities for the growth of the industry.

COVID-19 scenario

  • The COVID-19 outbreak has had a negative impact on the growth of the global cord blood banking market due to the occurrence of lockdowns in various countries around the world.
  • The shutdowns have halted the business operations of various businesses in the market due to the prevalence of strict government-imposed restrictions during the pandemic.
  • Additionally, the lockdowns have caused delays in the collection and supply of cord blood used to treat various harmful diseases.
  • However, the market should recover soon.

The report offers a detailed segmentation of the global cord blood banking market on the basis of storage services, components, applications, and regions.

Specific requirement on COVID-19? Ask our industry expert: https://www.alliedmarketresearch.com/purchase-enquiry/111

Based on applications, the diabetes segment generated the highest market share in 2020, attracting more than a quarter of the total market. The metabolic disorders segment, on the other hand, is expected to quote the fastest CAGR of 14.2% during the forecast period.

Based on components, the cord fabric segment generated the majority share in 2020, holding more than half of the total market. The same segment is expected to show a CAGR of 13.4% during the forecast period.

By region, the North American market took the lion’s share in 2020, attracting almost a third of the total market. LAMEA, on the other hand, is expected to quote the fastest CAGR of 13.8% over the forecast period.

Key market players analyzed in the Global Cord Blood Banking Market report include Cord for Life, National Cord Blood Program, Cordvida, Perkinelmer Inc., Americord Registry LLC, China Cord Blood Corporation, Covis Group, Cordlife Group Limited, Cryo-Cell International, Inc. and Lifecell International Pvt. ltd.

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“We have also published some syndicated market studies in the same field that you may be interested in. Below is the title of the report for your referenceconsidering the impact of Covid-19 on this market which will help you to assess the aftereffects of the pandemic on the short and long term growth trends of this market.

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Allied Market Research (AMR) is a full-service market research and business consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global corporations as well as small and medium enterprises with unrivaled quality of “market research reports” and “Business Intelligence solutions”. AMR has a focused vision to provide business insights and advice to help its clients make strategic business decisions and achieve sustainable growth in their respective market area.

Pawan Kumar, CEO of Allied Market Research, directs the organization towards the provision of high quality data and information. We maintain professional relationships with various companies which helps us to extract market data which helps us to generate accurate research data tables and confirm the utmost accuracy of our market predictions. All data presented in the reports we publish are drawn from primary interviews with senior managers of large companies in the relevant field. Our secondary data sourcing methodology includes extensive online and offline research and discussions with knowledgeable industry professionals and analysts.

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