Persistence Market Research (PMR), a market intelligence and research firm, has recently published a market study on the global umbilical cord blood (UCB) banking market. According to the report, the worldwide UCB banking market stood at US$12.7 bn in 2013. Analysts at PMR anticipate the market to exhibit a moderate CAGR of 6.10% during the period from 2014 to 2020 and gain a market value of US$19.3 bn by the end of the forecast period.
FACTS AT A GLANCE
Companies: Cord Blood Registry Systems Inc., Cord Blood America Inc., Cordlife Group Ltd., NeoStem Inc., ViaCord, Cryo-Cell International Inc., Esperite N.V., Smart Cells International Ltd., StemCyte, and China Cord Blood Corp. are key participants in this market, states the research report.
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Coverage: All major geographies and key segments
Segments: The report analyzes the global UCB banking market on two fronts: therapeutic application of UCB and storage option. By therapeutic application of UCB, the market is segmented into leukemia, lymphoma, metabolic/storage diseases, bone marrow failure syndromes, and immune deficiencies. On the basis of storage option, the market is classified into public UCB banks and private UCB bank.
Geographies:According to the research report, Europe, North America, Asia Pacific, and the Rest of the World are the major regional markets for UCB banking.
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ABSTRACT-
Umbilical cord blood (UCB) is collected from the umbilical cord of a newborn baby and also retrieved from the placenta after delivery. It is enriched with adult stem cells and these stem cells play a vital role in regulating all biological activities and in developing tissues in the human body. Many types of stem cells are present in UCB including hematopoietic stem cells and mesenchymal stem cells. Hematopoietic stem cells give rise to all the other blood cells. Hematopoietic stem cells are severely damaged in people suffering from bone marrow diseases, malignancies, inherited metabolic disorders, and immunological disorders. Mesenchymal stem cells are involved in the development of tissues such as cartilage, bone, fat, new blood vessels, and cardiac muscles.
UCB is used in clinical procedures associated with regenerative medicines. For instance, UCB-derived stem cells are used in hematopoietic stem cell transplantation (HSCT) for the treatment of life-threatening diseases such as leukemia and type I diabetes in children and adults. In addition, UCB is also used in the treatment of diseases such as bone marrow disorders, circulatory diseases, heart problems, neurological diseases, and cartilage disorders.
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Globally, increasing prevalence of chronic diseases coupled with the emerging field of regenerative medicines is driving the UCB banking market. In addition, various government associations and initiatives are also supporting in the growth of the UCB banking market.
However, strict license and accreditation procedures impede the growth of UCB banking market. In addition, high banking cost in private UCB banks is also hampering the growth of UCB banking market. Allogeneic hematopoietic stem cell transplantation and cord tissue storage are some of the major trends in UCB banking market.
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