Global Stem Cell/Cord Blood Banking Market To Have Growth Rate Of 15% In 2020

The global stem cell/cord blood banking market is expected to grow from $7.8 billion in 2019 to $9 billion in 2020 at a compound annual growth rate (CAGR) of 15%. The growth of this market is mainly due to increase in demand for stem cells that can be used in the treatment of COVID 19. This in turn created a demand for stem cell/cord blood banking but it is hindered by the challenges like collection and supply. The market is then expected to recover and grow at a CAGR of 11.6% from 2021 and reach $12.4 billion in 2023. Cancer diseases such as leukemia and multiple myeloma can be treated by stem cell transplant. Thus, an increasing number of cancer patients is a major driver for the market. However, lack of awareness especially among pregnant women is a major restraint for the stem cell/cord blood banking market.

The stem cell/cord blood banking global market consists of sales of related services and goods. Cord stem cells are referred to as regenerative medicines which help in regeneration of tissues or cells in the body. Stem cell 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.

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The global stem cell/cord blood banking market is further segmented based on type and geography.
By Cell Type: Adult Stem Cells, Umbilical Cord Blood Stem Cells, Embryonic Stem Cells
By Service: Collection, Processing, Analysis, Storage
By Bank Type: Public, Private
By Application: Leukemia, Anemia, Thalassemia, Autism, Cerebral palsy, Diabetes, Others.
By Geography: The global stem cell/cord blood banking market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa.

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Trends 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.
Stem Cell/Cord Blood Banking Global Market Report 2020 is one of a series of new reports from The Business Research Company that provides stem cell/cord blood banking market overviews, analyzes and forecasts stem cell/cord blood banking market size and growth for the global stem cell/cord blood banking market, stem cell/cord blood banking market share, stem cell/cord blood banking market players, stem cell/cord blood banking market size, stem cell/cord blood banking market segments and geographies, stem cell/cord blood banking market trends, stem cell/cord blood banking market drivers and stem cell/cord blood banking market restraints, stem cell/cord blood banking market’s leading competitors’ revenues, profiles and market shares. The stem cell/cord blood banking market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.