According to the recent research report titled ‘Cord Blood Banking Market Size By Type of Bank (Public, Private), By Services (Processing, Storage), By Application (Cancer, Blood Disorders, Immuno-deficiency Disorders, Metabolic Disorders, Bone Marrow Failure Syndrome), By End-use (Hospitals, Research Institutes, Specialty Clinics), COVID-19 Impact Analysis, Regional Outlook, Application Potential, Price Trends, Competitive Market Share & Forecast, 2021 – 2027’ available with MarketStudyReport, global cord blood banking report is poised to witness optimistic growth through 2027.

The major factors driving the global cord blood banking market growth are increasing awareness about the umbilical cord and its therapeutic properties as well as growing number serious genetic illnesses.  Strategic collaborations among the leading companies and technological breakthroughs are also favoring the overall market outlook.

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The global cord blood banking marketplace is segmented based on the type of bank, service type, application range, end-user scope, and regional analysis.

Based on the type of bank, the market is categorized into public and private sector banks. The public segment garnered revenues worth USD 11,902.9 million in 2020 and is predicted to grow steadily through the analysis period.

In terms of service type, the market is divided into storage, processing, and others. In 2020, the storage segment captured 19% market share and is poised to show lucrative growth in the forecast timeline.

On the basis of application scope, the market is segregated into, bone marrow failure syndrome, cancer, immunodeficiency disorders, blood disorders, metabolic disorders, and others. The metabolic disorders segment is estimated to garner revenues worth USD 2,356.1 million by 2027.

Moving forward with the end-user perspective, the market is bifurcated into specialty clinics, research institutes, hospitals, and others. The research institutes segment is expected to expand at 6.2% CAGR through the review period.

From the regional analysis perspective, the worldwide cord blood banking industry extends to the Middle East & Africa, Europe, North America, Latin America, and the Asia Pacific. Among these, Latin America was held 3.9% market share in 2020 and is predicted to showcase considerable growth through the study period. Meanwhile, the Middle East & Africa market is projected to witness a 5.5% CAGR through 2027.

The competitive landscape of global cord blood banking industry vertical is defined by companies such as VITA 34 AG, ViaCord LLC (PerkinElmer Inc.), Singapore Cord Blood Bank, LifeCell International Pvt. Ltd., National Cord Blood Program, Jeevan Stem Cell Foundation, Global Cord Blood Corporation, Cryo-Save AG, CBR Systems Inc., FamiCord Suisse S.A., and Americord Registry.