The Global
Cord Blood Banking Services Market is the dynamic industry micropia that deals with the collection, processing, and storage of cord blood stem cells for medical use. In this wide healthcare scenario, it occupies an important space by providing an opportunity to the families to maintain the cord blood of their newborn infant for any future therapeutic use. Rich in hematopoietic stem cells, cord blood has been found useful for treating cancers of the blood, some genetic disorders, and autoimmune diseases.
China Cord Blood Corporation, Cells4Life, CBR Systems, Inc, Cordlife Group Limited, Cryo-Cell International, Inc, Alphacord, Lifeforce Cryobanks, ViaCord, Inc, Lifecell International pvt ltd, Americord Registry LLC, ATCC, California Cryobank Stem Cell Services LLC, Cord Blood Foundation (Smart Cells International), Cordvida, Cryoholdco DE LatinoAMerica.
The growth of the market for cord blood banking services has been appreciable in the last two years, and several factors contribute to this. Another key factor is raising awareness amongst prospective parents about the probable advantages of umbilical cord blood banking. This has led to an increasing demand for banking services, mainly due to increasing awareness among people about the related facts of cord blood stem cells and their applications as therapeutical agents.
Another important factor responsible for the growth is that continuous advancements in medical research and technology have added significantly to the list of scope of application of cord blood. Rising incidences of chronic diseases and genetic disorders are some of the other key drivers of the market. Most of the genetic diseases, like leukemia, lymphoma, and sickle cell anemia, have stem cell transplantation as a part of their treatment process, thereby raising the demand for banked or stored cord blood units.
Expanding scope of regenerative medicine and cell therapy further created new avenues in the use of cord blood stem cells for the treatment of degenerative diseases and injuries. It caters to a large number of well-established companies and new entrants in the Global Cord Blood Banking Services market looking for a turn-around in business. The services include collection, processing, storage, and support in transplantation procedures. Business involves cord blood banks, both public and private, to meet all requirements from the expectant parents at large to health-care providers.
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