Global UCB Banking Market Drivers: Elevated Number of Chronic Conditions and Live Births

Umbilical cord blood was once considered as a waste product, but now it is a multi-million-dollar industry. According to market research firm, Persistence Market Research (PMR) the global market for umbilical cord blood (UCB) banking in 2014 was worth US$13,515.8 million and is projected to expand at a 6.1% CAGR during the forecast period of 2014-2020 and reach a value US$19,335.6 million by 2020.

Read Full Report: http://www.persistencemarketresearch.com/market-research/umbilical-cord-blood-banking-market.asp

From the first successful UCB stem cell transplant in the late 1980s, the technology of the UCB stem cells transplant has come a long way. In the late 1980s, a 6-year-old boy from North Carolina was treated for Fanconi’s anemia at a Hospital in Paris, using cord blood stored during his younger sister’s birth (source: US NCBI). Currently, UCB is used in clinical procedures that are associated with regenerative medicines. For example, UCB-derived stem cells find their application in HSCT for treatment of life-threating conditions such as leukemia and type I diabetes in adults and children.

The global UCB banking market by therapeutic application of umbilical cord blood is segmented into immune deficiencies, lymphoma, metabolic/storage diseases, bone marrow failure syndrome, and leukemia. By storage option, the global UCB banking market is divided into private UCB banks and public UCB banks. At present, the global UCB banking market is growing at a positive pace due to the following trends.

Trends Shaping the Global UCB Banking Market

  • According to the WHO, chronic conditions also known as noncommunicable diseases were responsible for 38 million out of 56 million deaths in 2012. The rising prevalence of chronic disorders is driving the global UCB banking market to a great extent.

  • Regenerative medicine sector is a game-changing field that has the potential to completely heal damaged organs and tissues and deliver solutions and hopes to patients who are affected currently with conditions beyond repair (source: mayo.edu). The emerging field of regenerative medicines is also fueling the global UCB banking market.

  • In addition, the global UCB banking market also benefits from the several government initiatives focusing to create awareness about the importance of umbilical cord blood stem cells

  • The global UCB banking market will also gain traction due to the rising popularity of UCB in allogeneic hematopoietic stem cell transplantation

Geography-wise, the global UCB banking market is segmented into North America, Europe, and Asia Pacific. North America is leading the global UCB banking market. In North America, the largest market is the U.S., followed by Canada. The accelerating prevalence of chronic conditions is the key driver of the U.S. UCB banking market. The Europe UCB banking market is witnessing impressive growth due to the rising awareness about the application of UCB in treatment of life-threatening disorders. Asia Pacific is projected to be the fastest-growing market for UCB banking in the near future due to the increasing awareness of UCB banking and the elevated number of births in China and India.

The key players operating in the global UCB banking market are China Cord Blood Corporation, Smart Cells International, StemCyte, Esperite, ViaCord, Cryo-Cell International, NeoStem, Cord Blood America, Cordlife Group Limited, and Cord Blood Registry Systems.

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