The U.S. cord blood banking services market size is
expected to reach USD 49.1 billion by 2025, at a CAGR of 12.2% according
to a new report by Grand View Research, Inc. Increasing awareness regarding
long term benefits of cord blood storage, increasing number of service
providers, reduction in cost involved in storage, and growing investment in
public banking are the factors driving the market growth in the country.
The U.S. cord blood banking services
market captures a significant share of the global cord blood banking industry.
Factors such as high adoption rate for advanced technologies, growing per
capita income, and increasing number of storage service providers can be
attributable to the largest market share.
Growing applications of cord blood in the
treatment of several chronic disorders is expected to fuel the market.
Currently cord blood is approved for usage in around 80 diseases. These disease
include degenerative disorders such as cancers, immunodeficiency related
disorders, and bone marrow disorders. Growing prevalence of such diseases and
need for effective therapeutic treatments are expected to boost the number of
units stored. A large number of ongoing clinical trials in phase II, III,
and IV are showing a potential growth opportunity in the near future.
Browse full research report on U.S. Cord
Blood Banking Services Market: https://www.grandviewresearch.com/industry-analysis/us-cord-blood-banking-services-market
Further Key
Findings from the Report Suggest:
- Private banking currently captures the largest
revenue share and is expected to dominate the market throughout the forecast
period
- Large number of parents opting for private
banking, high prices involved in collection, transport and storage, and
increasing number of these type of service provides are the prime factors
expected to result in swift growth of the segment during the forecast
period
- Increasing awareness, high government
investment, and efforts to store genetically diverse cord blood units are
the factors expected to boost the segment growth of public banking
- Cord blood captured the largest market share
in 2016 over cord tissue and placenta. Relatively easy license
acquisition, affordability, and ease of storage are the factors driving
the segment share.
- Key market players include California Cryobank
Stem Cell Services LLC; Cord Blood America, Inc.; StemCyte, Inc.; Norton
Healthcare, Inc.; Cryo-Cell International, Inc., and Lifeforce Cryobank
Sciences Inc.
Browse request sample of this report by
Grand View Research: https://www.grandviewresearch.com/industry-analysis/us-cord-blood-banking-services-market/request/rs1
Grand
View Research has segmented the U.S. cord blood banking services market on
the basis of blood bank type, component and state:
Bank Type
Outlook (Revenue, USD Billion, 2014 - 2025)
- Private
- Public
- Hybrid
Component
8Outlook (Revenue, USD Billion, 2014 - 2025)
- Cord Blood
- Cord Tissue
- Placenta
Regional
Outlook (Revenue, USD Billion, 2014 - 2025)
- Arizona
- California
- Florida
- Kentucky
- New Jersey
- Texas
- Houston
- Massachusetts
About Grand View Research
Grand View Research, Inc. is a U.S. based market
research and consulting company, registered in the State of California and
headquartered in San Francisco. The company provides syndicated research
reports, customized research reports, and consulting services. To help clients
make informed business decisions, we offer market intelligence studies ensuring
relevant and fact-based research across a range of industries, from technology
to chemicals, materials and healthcare.
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