Cord (Stem Cell) Blood Banking Market to Grow at a CAGR of 11.6% During 2018-2022 Report by TBRC

LONDON, Dec. 10, 2019 /PRNewswire/ -- The global stem cell/cord blood banking market was valued at about $6.96 billion in 2018, and is expected to grow to $10.79 billion at an annual growth rate of 11.6% through 2022. Increasing number of cancer patients is a major driver for the stem cell/cord blood banking market. Cancer diseases such as leukemia and multiple myeloma can be treated by stem cell transplant. In stem cell transplant, treatment can be either done by autologous transplant in which the stem cells come from the same person who gets the transplant, or by allogeneic transplant in which the stem cells come from a matched related or unrelated donor. By using stem cells in the treatment of cancer, the blood forming stem cells which are damaged during chemotherapy can be restored. According to the National Cancer Institute, in 2018, around 609,640 deaths were caused due to prevalence of the cancer which can be treated by transplanting the stem cells.

Read More On The Business Research Company's Stem Cell/Cord Blood Banking Market Report:

https://www.thebusinessresearchcompany.com/report/stem-cell-cord-blood-banking-global-market-report

Cord stem cells are referred to as regenerative medicines which help in regeneration of tissues or cells in the body. Stem cells therapy is designed to aid the physician in performing medical treatment of different types of cancers, neurodegenerative diseases, graft-versus-host disease, and heart diseases.

Pregnant Women Are Unaware Of Public Cord Blood Banks

Lack of awareness especially among pregnant women is a major restraint for the stem cell/cord blood banking market. This is mainly because a majority of pregnant women are unaware of the functioning of public cord blood banks. Hence, this option is not fully explored despite the advantages of stem cell transplantation in treating cancer. For example, according to a 2016 survey by International Journal of Reproduction, Contraception, Obstetrics and Gynecology (IJRCOG), only 45% of pregnant women were informed about the uses of umbilical cord blood during pregnancy, just 5% were aware about the cost of the procedure, and less than 1% were aware about the availability of cord blood banking.

Genetic Testing Services In The Stem Cell/Cord Blood Banking Market

Pairing of cord blood and tissue storage with genetic testing services is an emerging trend in the stem cell/cord blood banking market. Such pairing is possible and efficient because of its complimentary services to the existing clients, thereby helping in expanding their product portfolio. For example, in March 2017, genetic testing company Natera launched the Evercord cord blood and tissue storage service that enables expectant parents to collect, store and potentially retrieve their newborn's cord blood and tissue for therapeutic use in transplantation and regenerative medicine applications.

Request A Sample Of The Stem Cell/Cord Blood Banking Market Report @ https://www.thebusinessresearchcompany.com/sample.aspx?id=2514&type=smp

Major Players In The Stem Cell/Cord Blood Banking Market Are Investing In M&As

Major players in the stem cell/cord blood banking market are AMAG Pharmaceuticals, Cordlife, Cryo-Cell International, Esperite, and Americord Registry LLC. Companies have been investing in merger and acquisition activity to strengthen and expand their businesses. In June 2018, GI Partners entered into an agreement with AMAG Pharmaceuticals to acquire its company Cord Blood Registry (CBR) for $530 million. This acquisition will help GI Partners to be a leader in the stem cell storage and reproductive tissues market. CBR is the world's largest stem cell collection and storage company that was acquired by AMAG Pharmaceuticals in 2015. AMAG Pharmaceuticals is an expert in developing products that treat iron deficiency anemia in adult patients. It was founded in 1981 and is headquartered in Massachusetts, the USA.

Regulatory Landscape Of The Stem Cell/Cord Blood Banking Market

The US Food and Drug Administration (FDA) outlines guidance related to stem cell/cord blood banking in accordance with section 212 of the Small Business Regulatory Enforcement Fairness Act (Public Law 104-121). As per this act, stem cells sourced from cord blood for unrelated allogeneic use are regulated by the FDA, and, in order to distribute these products, distributors need to get a license from the FDA. These licenses are provided by the FDA after reviewing the manufacturing and the storage conditions. In this regard, the American Association of Blood Banks (AABB) and other regulatory agencies also work with the FDA. The regulatory scenario related to the stem cells/cord blood banking market is expected to keep a check on companies involved in this market.

Order a Copy Of Complete Report @ https://www.thebusinessresearchcompany.com/purchaseoptions.aspx?id=2514

Browse Similar Reports By The Business Research Company:

Biobank Market By Specimens Type (Blood Products, Cell Lines, Nucleic Acids And Human Tissues), By Region And By Trends - Global Forecast To 2023 @ https://www.thebusinessresearchcompany.com/report/biobanks-market

Blood And Blood Components Global Market Report 2019 @ https://www.thebusinessresearchcompany.com/report/blood-and-blood-components-global-market-report

Stem Cell Global Market Report 2019 @ https://www.thebusinessresearchcompany.com/report/stem-cell-global-market-report

Exciting Year-End Offers:

Avail The Business Research Company's discounted opportunities and strategies reports and get between 30-50% off your purchase!

https://www.thebusinessresearchcompany.com/discounted-reports.aspx

The World's Most Comprehensive Database

The Business Research Company's Global Market Model analyzes all the above data and more. It is the world's most comprehensive database of integrated market information. This market intelligence platform covers various macroeconomic indicators and metrics across 56 geographies and 24 industries.

Interested to know more about The Business Research Company?

The Business Research Company has published over 300 industry reports, covering over 2400 market segments and 56 geographies. The reports draw on 150,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders.

Contact Information:

The Business Research Company 
Nitin
Email: [email protected]
Europe: +44-207-1930-708
Asia: +91-8897263534
Americas: +1-315-623-0293
Follow us on LinkedIn: https://in.linkedin.com/company/the-business-research-company
Follow us on Twitter: https://twitter.com/tbrc_Info

SOURCE The Business Research Company