Cord Blood Banking Services Market Will Generate New Growth Opportunities in the next upcoming year
Pune, Maharashtra, India, November 18 2020 (Wiredrelease) Allied Analytics –:The global cord blood banking services market accounted for $1,126 million in 2016, and is estimated to reach at $2,772 million by 2023, registering a CAGR of 13.8% from 2017 to 2023. North America was the highest revenue contributor in the global market in 2016; however, Asia-Pacific is expected to witness the highest growth rate during the forecast period.
“Cord Blood Banking Services Market by Storage Services (Public Cord Blood Banks and Private Cord Blood Banks) – Global Opportunity Analysis and Industry Forecast, 2017-2023”
The global cord blood banking services market is driven by factors including various marketing strategies adopted by key players, rise in R&D activities for cord blood applications, and surge in funding for establishing public cord blood storage banks.
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The global cord blood banking services market is driven by factors including various marketing strategies adopted by key players, rise in R&D activities for cord blood applications, and surge in funding for establishing public cord blood storage banks. However, expensive nature of the processing, adversities related to find a match in the donor list, and legal & ethical issues regarding gathering of cord blood hinder the market growth. On the other hand, advancements related stem cell therapeutics and untapped potential in the developing regions would offer opportunities for the market growth.
Key Findings of the Cord Blood Banking Services Market:
The private cord blood bank segment is anticipated to grow at the highest rate during the analysis period.
Germany was the highest revenue-generating country in the European market in 2016, and is expected to continue its dominance during the forecast period.
In 2016, North America dominated global cord blood banking services market, and is estimated to continue this trend in the near future.
China is expected to grow at the highest rate in the Asia-Pacific region.Latin America was the largest contributor in the LAMEA region.
In 2016, North America held the largest share in terms of the total revenue, owing to surge in awareness among expectant parents, rise in disposable income, and high rate of adoption of cord blood storage services. On the other hand, Asia-Pacific is estimated to register the highest growth during the forecast period, attributable to rise in focus of key players for extending their services and surge in disposable income.
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Key players covered in the report include:
The key companies profiled in the report include China Cord Blood Corporation, Cord Blood America, Inc., CBR Systems, Inc., Cordlife Group Limited, Cryo-Cell International, Inc., Cryo-Save AG, Lifeforce Cryobanks, National Cord Blood Program, ViaCord, Inc., Virgin Health Bank, CordVida, Americord, CryoHoldco, and Vita34.
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