The Europe Cord Blood Banking Services Market would witness market growth of 12.4% CAGR during the forecast period (2022-2028).
Banking of cord blood is absolutely optional. Some parents decide to save their baby's cord blood, while others do not. The cord blood from the newborn is discarded with the placenta if parents don't donate it or keep it in storage. Parents who choose to store their baby's placental and umbilical cord blood in order to support their child's potential future medical requirements have the option of cord blood banking. It can also be applied to other biologically related kids, whether they are members of their own family or not.
The practice of cord blood banking has various advantages. However, the way one go about it will depend on a number of things, such as the medical requirements of the family and financial circumstances. The cord blood of a newborn can almost always be donated to a public bank. This could benefit a lot of people.
Private cord banking may be the best option if someone have a family member who might need the cord blood bank to address a medical issue, even though the majority of medical institutions do not advise it. In either case, it's a wise idea to see a medical expert before selecting whether or not to bank the newborn's cord blood.
The UK Stem Cell Strategic Forum report's recommendations will be put into practice with the assistance of a number of millions from the government, which is committed to enhancing UK stem cell services. The government is working to establish a cord blood bank with 50,000 units, and this goal is required to be met with a cost-effective and strategic approach. Also, a growing percentage of solid organ transplant recipients are surviving on long-term immunosuppression and exhibiting post-transplant lymphoproliferative diseases is posing pressure over the government to establish better healthcare services for cord blood banking. This supports the market growth in cord blood banking services in the Europe region.
The Germany market dominated the Europe Cord Blood Banking Services Market by Country in 2021; thereby, achieving a market value of $190.8 million by 2028. The UK market is exhibiting a CAGR of 11.5% during (2022 - 2028). Additionally, The France market would experience a CAGR of 13.2% during (2022 - 2028).
Based on Component, the market is segmented into Cord Tissue and Cord Blood. Based on Storage Services, the market is segmented into Private Cord Blood Banks and Public Cord Blood Banks. Based on Application, the market is segmented into Diabetes, Cancer Disease, Blood Disease, Immune Disorders, Metabolic Disorders, and Others. Based on countries, the market is segmented into Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
Free Valuable Insights: The Global Cord Blood Banking Services Market will Hit $2.9 Billion by 2028, at a CAGR of 13.1%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include AMAG Pharmaceuticals, Inc., Americord Registry LLC, StemCyte, Inc., Cordlife Group Limited, cordvida, Cryo-Cell International, Inc., CryoHoldco de LatinoAmérica and Vita 34 AG
By Component
By Storage Services
By Application
By Country
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