The concept of “Cord Blood’ and its related service are among the top headlines in the global healthcare circle. According to the recent reports on the upcoming medical technology, it is all staged to extensively expand on a global range. The developments are projected to be of massive kinds as many more advantages of using the technology might be discovered in the coming years. The good thing in the usage is the new parents (especially ‘soon to be parents’) are very cautious about utilizing the vital elements during the child-birth and avoid the ailments which may rise up in the future.
Hence, the global cord blood services industry is projected to be worth of more than $15.2 billion by the end of 2019. Around 2012, the same industry was pegged at $12.4 billion, this was at its initial stages when the medical technology was just discovered and was been developed for betterments.
The industry is expected to grow at a CAGR of 5.6% between the years 2013-19. The involvement of public sector is growing at a faster rate as compared to that of the public cord blood banks. Therefore, one can expect an increased investment rooting up from private establishments both from within and outside healthcare industry. The private parties taking part in the industry is set to have CAGR of 1.9% between years 2013-19 and is projected to be worth $11.58 billion by the finish of 2019.
Most Active Countries:
USA and European countries like Spain and UK are leading in terms of usage of the cord blood banking. The gulf regions such as Qatar, UAE and Saudi Arabia have lucrative markets among the REST OF WORLD.
China and India are two fastest growing markets in the Asia-Pacific region which are projected to be the future dominating countries in the cord blood banking industry.
Cord Blood banking services in Asia Pacific is expected to have a CAGR of 5.6% upto 2019
Renowned Establishments in Cord Blood Banking Services:
Nero- Stem Inc, Cryo-Cell International Inc, Cord Blood America Inc, Cordlife India and LifeCell are among the frontier cord blood banking service providing companies around the world. Hence, choosing the right cord blood banking service provider shouldn’t be a task as the industry is growing competitive.