Cord blood consist rich source of stem cells which can treat more than 80 genetic diseases. These are used to cure chronic diseases like diabetes, cancer, immune diseases, and blood diseases. Rise in usage of cord blood cells in genetic diseases is mainly propelling the global cord blood banking services market growth during this forecast period.
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Increase in application of stem cell therapies in diseases treatment and rise in prevalence of life threatening genetic disorders are the key driving factors which are expected to boost the global cord blood banking services market growth. Furthermore, increase in disposable income and spending capacity will have the positive impact on global cord blood banking services market growth. Also, parents are increasingly demanding cord blood bank services (CBB) to ensure their child’s safety will fuel the market growth in near future. Moreover, increase in government initiatives and investment which is expected to propel the market growth.
However, high cost of cord blood services is the restraining factor which is expected to hamper the global cord blood banking services market growth.
Global Cord Blood Banking Services Market is segmented into bank service type such as Public Blood Banks, Private Blood Banks, and Hybrid Blood Banks. Also, market is segmented into five regions such as five regions such as North America, Latin America, Europe, Asia Pacific, and Middle East & Africa.
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The primary research procedure is based on results of face to face interviews with industry experts and consumers. The secondary research process includes an intricate study of the scholarly journals and reports available online
Market Key Players
Various key players are discussed in this report such as Americord Registry, Carter BloodCare, New Jersey Cord Blood Bank, Viacord Processing Laboratory, Stem Cell Cryobank Inc, LifeCell International Pvt. Ltd, CariCord, Michigan Bloo, Cryoviva Biotech Pvt. Ltd, Lifebank USA, and China Cord Blood Corporation