The global umbilical cord blood banking market features a markedly fragmented vendor landscape characterized by the presence of a copious number of small players. The combined share of the leading three players is merely 7.0% of the global market, finds Transparency Market Research (TMR). Over the years, the anticipated proliferation of private cord blood banking companies is likely to up the level of competition. TMR, however, observes that the high degree of fragmentation notwithstanding, the market is strictly regulated both by regional and global legislations with an aim to promote better therapeutic use of cord blood.
Prominent players operating in the umbilical cord blood banking market include StemCyte Inc., LifeCell, Vita 34 AG, Cordlife Group Ltd., Cryo-Save AG, Cryo-Cell International, Inc., Cord Blood America, Inc., China Cord Blood Corporation, ViaCord Inc., and CBR Systems, Inc.The global umbilical cord blood banking market is projected to rise at a promising CAGR of 11.4% during 2017–2025. The market stood at US$3,124.4 million in 2016 and is prognosticated to touch a valuation of US$8,178.1 million by 2025 end.
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The primary types of storage under umbilical cord blood banking comprise public and private banks. Private cord blood banks is by far the dominant segment and contributed a substantial share of 65.0% in the global market in 2016. Notwithstanding the exorbitant initial cost and the consecutive costs incurred for their services, the popularity of private cord blood banks isn’t likely to wane anytime soon. The segment is expected to hold its sway throughout the assessment period.