Cord Blood Banking Services Market to Witness Huge Growth by 2027

Transparency Market Research (TMR) has published a new report titled, ‘Cord Blood Banking Services Market — Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019–2027’. According to the report, the global cord blood banking services market was valued at US$ 25.8 Mn in 2018 and is projected to expand at a CAGR of 10.9% from 2019 to 2027.

Overview

· Cord blood banking is the practice of preserving blood from the umbilical cord for future use. Such preserved cord blood is used in medical therapies in the similar fashion as that of stem cells derived from bone marrow.

· Cord blood banking is practiced for using the cord blood stem cells for the purpose or re-populating blood and treating various medical conditions. This report studies the current market condition and future potential for the cord blood banking market.

· North America dominated the global cord blood banking services market in 2018 and the trend is anticipated to continue during the forecast period. Adoption of new technologies such as stem cell research, with higher awareness, significant health care spending in overall national budgets, early availability of advanced technologies, and higher penetration of research activities across the country are expected to drive the market in North America.

· Asia Pacific is likely to be a highly lucrative market for retinal disorders and it is expected to expand at a high CAGR during the forecast period

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