North America Stem Cell Umbilical Cord Blood Market is Forecasted to Grow at a CAGR of 16.5% During the Forecast Period 2017-2027 - ResearchAndMarkets.com
DUBLIN--(BUSINESS WIRE)--The "North America Stem Cell Umbilical Cord Blood Market, By Storage Services (Private, Public, Hybrid), By Therapeutics (Diabetes, Blood Diseases, Immune Disorders, Others), By Application (Transplant, Regenerative), Estimation & Forecast, 2017 - 2027" report has been added to ResearchAndMarkets.com's offering.
The North American stem cell umbilical cord blood market held a market value of USD 1,356.3 Million in 2020 and is forecasted to reach USD 3,828.3 Million by the year 2027. The market is expected to register a CAGR of 16.5% during the forecast period.
The blood left in the umbilical cord after birth is the cord blood. This blood contains stem cells that have exceptional abilities to grow into different types of cells, such as blood cells, bone marrow cells, and brain cells, among others. These can be used for the treatment of many chronic diseases.
The increasing demand for genetic testing, fertility, and reproduction-assisted services is likely to boost market growth. Moreover, rising spending capacity and suitable payment plans are expected to drive market growth. In October 2020, the National Center for Biotechnology Information published a study, where a 72-year-old critically ill COVID-19 patient was administered 5-time intravenous infusions of umbilical cord blood-derived mesenchymal stem cells (UCB-MSCs). It was found that UCB-MSC therapy might have a certain positive effect in the treatment of critically COVID-19 patients, by delaying the deterioration of the disease and improving renal and respiratory function. Such studies led to the initiation of various researches, hence positively impacting the market growth.
Increasing demand for genetic testing, fertility, and reproduction assisted services
Infertility coupled with genetic issues and other reproduction-related issues creates a vast impact on the psychosocial wellbeing of the affected people, hence leading to poor life quality. According to an MDPI report published in June 2021, approximately 15% of people globally are affected by infertility issues. Around 80% of these couples are helped by the assisted reproduction technology (ART) to conceive. However, some couples cannot conceive even after ART. To help these couples, stem cells are emerging as promising alternative therapeutics in translational research of regenerative medicine. These factors are likely to fuel the market growth.
Rising spending capacity and suitable payment plans
The disposable income of people is rising; hence they are adopting expensive services such as umbilical cord blood storage, which is boosting the market growth. According to Trading Economics, as of May 2021, the personal disposable income in the U.S. was USD 17,955.40. Furthermore, market players are also coming up with suitable payment plans, which are increasing the demand in the market, hence fuelling the market growth during the forecast period
The North America Stem Cell Umbilical Cord Blood market report provides insights on the below pointers:
- Market Penetration: Provides comprehensive information on the market offered by the prominent players
- Market Development: The report offers detailed information about lucrative emerging markets and analyzes penetration across mature segments of the markets
- Market Diversification: Provides in-depth information about untapped geographies, recent developments, and investments
- Competitive Landscape Assessment: Mergers & acquisitions, certifications, product launches in the North America Stem Cell Umbilical Cord Blood market have been provided in this research report. In addition, the report also emphasizes the SWOT analysis of the leading players.
- Product Development & Innovation: The report provides intelligent insights on future technologies, R&D activities, and breakthrough product developments
The North America Stem Cell Umbilical Cord Blood market report answers questions such as:
- What is the market size and forecast of the North America Stem Cell Umbilical Cord Blood Market?
- What are the inhibiting factors and impact of COVID-19 on the North America Stem Cell Umbilical Cord Blood Market during the assessment period?
- Which are the products/segments/applications/areas to invest in over the assessment period in the North America Stem Cell Umbilical Cord Blood Market?
- What is the competitive strategic window for opportunities in the North America Stem Cell Umbilical Cord Blood Market?
- What are the technology trends and regulatory frameworks in the North America Stem Cell Umbilical Cord Blood Market?
- What is the market share of the leading players in the North America Stem Cell Umbilical Cord Blood Market?
- What modes and strategic moves are considered favorable for entering the North America Stem Cell Umbilical Cord Blood Market?
- Advanced Cell Technology
- Americord Registry Esperite
- California Stem Cell
- CBR Systems, Inc.
- China Cord Blood Corporation
- Cord Blood America
- Cordlife Group Limited
- Cryo-Cell International
- Cryoviva India
- Sangamo Therapeutics
- Excell Thera
- Gemida Cell
- Geron Corporation
- LifeCell Inetrnational
- Megenta Therapeutics
- Mesoblast Limited
- Opexa Therapeutics
- Regrow Biosciences Pvt. Ltd.
- Smart Cells International Ltd.
- Stem cell Technologies
- Teva Pharmaceuticals
- Vita34 AG
- Fate Therapeutics, Inc.
- Celaid Therapeutics Inc.
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