MarketThe Global Cord Blood Stem Cells Market was valued at USD 1,535 Million in 2020 and is expected to grow at a Compound Annual Growth Rate (CAGR) of 5.3% between 2021 to 2028 according to analysts at Vantage Market Research. The cord that is umbilical cord and placenta contains hematopoietic i.e., blood stem cells the rare type of cells which are mostly found in bone marrow. The cord blood cells have a trait to regenerate into any type of blood cell and has a potential to treat chronic diseases, genetic diseases, and blood immune diseases. The cord blood stem cells market is driven by the factors such government supporting the research, investment of commercial sectors into healthcare, various companies are creating awareness on importance of cord blood stem cell storage.
Since the outbreak of the COVID-19, it is widely spread all over the world and has impacted many countries economy and caused huge loses in businesses. The cord blood stem cells market is experiencing a negative growth due to unavailability of, medical facility due to lockdowns, focused attention on global health emergency.
The cord blood stem cells market is segmented on the basis of product, storage services, and application. The product segment is further bifurcated into allogenic and autologous procedures. The storage services is further bifurcated into private cord banks, hybrid cord banks and public cord banks. The public cord bank sector is holding the largest share and shows potential growth in future forecast. The application segment is divided as neurology, oncology, cardiology, cartilage, blood disorders and diabetes. Based on these the cardiology and blood disorders are having the largest share and potential growth for further forecasted years.
The major players for the cord blood stem cells market are Eticur, Advanced Cell Technology Inc., Banco, De Celulas Madre, J.P. McCarthy Cord Stem Cell Bank, BioCell Pty. Ltd., Kaneka Corporation, DomaniCell LLC, Future Health Technologies, HemaStem Therapeutics, Geron Corporation, Banco De Cordon Umbilical, Family CB Services, Activision Life SA, Golden MediTech Company, Genecell International LLC (GCI), CorCell, Cells for Life, Cytolon AG, Babycord Jordan, CyGenics Ltd, AlphaCord, Angel Biotechnology, Becton Dickinson and Company, Cord Blood America Inc., Carolinas CBB, and BioCord.
Regionally, the market is segmented as Asia-Pacific, Europe, North America, the Middle East and Africa and Latin America. North America attained the highest share due to presence of major players, also as it holds more patents and also through government initiatives had a positive impact the market growth.