As per estimates, UK cord blood banking market size would reach USD 1,050.4 million by 2025. The growth can be attributed to the fact that the cord blood banks in the UK are running different programs with the aim to provide thorough information to prospective mothers, educate medical professionals and the public on the potential benefits of cord blood transplants. Not to mention, the UK government has been undertaking different initiatives to encourage the donation of cord blood, that would also serve to impel the commercialization potential of the regional cord blood banking industry.
An increasing number of patients suffering from life-threatening genetic disorders will play a crucial role in augmenting cord blood banking market share in the future. Extensive research and development activities aimed at finding new therapeutic methodologies for cord blood banking stem cells will drive future trends in the industry.
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Cord blood transplant is considered as a viable therapy option for cancer patients that offers a unique ability to help rebuild a healthy immune system damaged by the disease. Lymphoma and Leukemia are two key forms of cancer which can be treated by cord blood. According to a New England Journal of Medicine study, bone marrow and cord blood cells are equally efficient at treating leukemia. The study which was done in the year between 1996-2001, revealed that patients ages between 16-60 with several cases of leukemia treated with stem cell transplantation. Similar studies supporting the importance of the treatment will undoubtedly fuel the expansion of the cord blood banking market in the coming years.
The storage services market size is expected to grow substantially at a 5.6% CAGR between 2019 and 2025 on account of rising awareness about cord blood cell storage in private blood depository banks. Also, several initiatives undertaken by the government to encourage parents and mothers for cord blood cell donations of newborn babies will augment demand for these services considerably.
The application of cord blood cells in the treatment of cancer is anticipated to dominate the overall market due to the growing prevalence of chronic diseases across the globe. The potential of cord blood cells to be widely applicable in the effective treatment of non-Hodgkin's lymphoma and leukemia will accelerate its application in combating chronic ailments.
Cord blood banking market size from hospitals is estimated to reach US$13.2 billion by 2025 on account of the rising need for stem cells for the treatment of genetic disorders. Hospitals provide superior medical facilities and holistic treatment options to a large number of patients. The escalating prevalence of hereditary diseases, substantial expansion of healthcare infrastructure, and growing preference of patients towards availing advanced medical facilities shall drive consumer inclination towards hospitals for the treatment of chronic diseases.
Leading cord blood banking organizations include Jeevan Stem Cell Foundation, FamiCord, ViaCord LLC, Americord, Cryo-Save AG, LifeCell, Global Cord Blood Corporation, Cordlife, Singapore Cord Blood Bank, and CBR Systems, Inc.
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Partial Chapter of the Table of Content
Chapter 4. Cord Blood Banking Market, By Type of Bank
4.1. Key segment trends
4.2.1. Market size, by region, 2014 – 2025 (USD Million)
4.3.1. Market size, by region, 2014 – 2025 (USD Million)
Chapter 5. Cord Blood Banking Market, By Services
5.1. Key segment trends
5.2.1. Market size, by region, 2014 – 2025 (USD Million)
5.3.1. Market size, by region, 2014 – 2025 (USD Million)
5.4.1. Market size, by region, 2014 – 2025 (USD Million)
Chapter 6. Cord Blood Banking Market, By Application
6.1. Key segment trends
6.2.1. Market size, by region, 2014 – 2025 (USD Million)
6.3. Blood Disorders
6.3.1. Market size, by region, 2014 – 2025 (USD Million)
6.4. Immuno-deficiency disorders
6.4.1. Market size, by region, 2014 – 2025 (USD Million)
6.5. Metabolic disorders
6.5.1. Cord Blood Banking Market size, by region, 2014 – 2025 (USD Million)
6.6. Bone marrow failure syndrome
6.6.1. Market size, by region, 2014 – 2025 (USD Million)
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