The North American stem cell umbilical cord blood market held a market value of USD 1,356.3 Million in 2020 and is forecasted to reach USD 3,828.3 Million by the year 2027. The market is expected to register a CAGR of 16.5% during the forecast period.
The blood left in the umbilical cord after birth is the cord blood. This blood contains stem cells that have exceptional abilities to grow into different types of cells, such as blood cells, bone marrow cells, and brain cells, among others. These can be used for the treatment of many chronic diseases. The increasing demand for genetic testing, fertility, and reproduction-assisted services is likely to boost market growth. Moreover, rising spending capacity and suitable payment plans are expected to drive market growth.
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The Centers for Medicare and Medicaid Services report that US healthcare expenditures grew by 4.6% to US$ 3.8 trillion in 2019, or US$ 11,582 per person, and accounted for 17.7% of GDP. Also, the federal government accounted for 29.0% of the total health expenditures, followed by households (28.4%). State and local governments accounted for 16.1% of total health care expenditures, while otherI private revenues accounted for 7.5%.
This study aims to define market sizes and forecast the values for different segments and countries in the coming eight years. The study aims to include qualitative and quantitative perspectives about the industry within the regions and countries covered in the report. The report also outlines the significant factors, such as driving factors and challenges, that will determine the market’s future growth.
In October 2020, the National Center for Biotechnology Information published a study, where a 72-year-old critically ill COVID-19 patient was administered 5-time intravenous infusions of umbilical cord blood-derived mesenchymal stem cells (UCB-MSCs). It was found that UCB-MSC therapy might have a certain positive effect in the treatment of critically COVID-19 patients, by delaying the deterioration of the disease and improving renal and respiratory function. Such studies led to the initiation of various researches, hence positively impacting the market growth.
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Increasing demand for genetic testing, fertility, and reproduction assisted services
Infertility coupled with genetic issues and other reproduction-related issues creates a vast impact on the psychosocial wellbeing of the affected people, hence leading to poor life quality. According to an MDPI report published in June 2021, approximately 15% of people globally are affected by infertility issues. Around 80% of these couples are helped by the assisted reproduction technology (ART) to conceive. However, some couples cannot conceive even after ART. To help these couples, stem cells are emerging as promising alternative therapeutics in translational research of regenerative medicine. These factors are likely to fuel the market growth.
Rising spending capacity and suitable payment plans
The disposable income of people is rising; hence they are adopting expensive services such as umbilical cord blood storage, which is boosting the market growth. According to Trading Economics, as of May 2021, the personal disposable income in the U.S. was USD 17,955.40. Furthermore, market players are also coming up with suitable payment plans, which are increasing the demand in the market, hence fuelling the market growth during the forecast period.
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The North America Stem Cell Umbilical Cord Blood market is segmented into storage services, therapeutics, and application.
By Storage Services
Private Cord Blood Banks
Public Cord Blood Banks
Hybrid Cord Blood Banks
The private cord blood banks segment is expected to hold the largest market share owing to the high preference towards private cord blood banks for storing umbilical cord blood. The hybrid cord blood banks segment is estimated to demonstrate significant growth during the forecast period.
Bone Marrow Failure Syndrome
The diabetes segment accounted for the largest share due to increasing research activities for using umbilical cord blood for the treatment of diabetes. The cancer segment is expected to show significant growth due to the increasing prevalence of cancer and rising demand for better treatment options.
The regenerative medicine segment is likely to account for the largest market share owing to the growing applications of umbilical cord blood for regenerative medicinal purposes. Also, the transplant medicine segment is expected to grow at a significant growth rate.
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On a regional basis, the North American Stem Cell Umbilical Cord Blood market is segmented into the U.S., Canada, and Mexico.
The U.S. region accounted for the largest market share owing to the presence of major key players in the country. The market in Canada and Mexico is expected to grow at significant growth rates owing to the rising adoption of stem cell umbilical cord blood storage services in the country.
Key players operating in the North America Stem Cell Umbilical Cord Blood market include Advanced Cell Technology, Americord Registry Esperite, Athersys, California Stem Cell, CBR Systems, Inc., China Cord Blood Corporation, Cord Blood America, Cordlife Group Limited, Cryo-Cell International, Cryoviva India, Sangamo Therapeutics, Esperite, Excell Thera, Gamida Cell, Geron Corporation, LifeCellInternational, Medipost, Magenta Therapeutics, Mesoblast Limited, Neostem, Cryo-Save, Opexa Therapeutics, Regrow Biosciences Pvt. Ltd., Smart Cells International Ltd., Tacitus, SinoBiological, Stem cell Technologies, Teva Pharmaceuticals, ViaCord, Vita34 AG, NextGen, CSG-BIO, Fate Therapeutics, Inc., and Celaid Therapeutics Inc., among others.
These market players are involved in collaborations, mergers & acquisitions, and new product launches to strengthen their market presence. For instance, in July 2021, Americord strengthened its medical and scientific advisory board by adding multiple industry experts in a strategic push for expanding its ongoing research and development efforts.
Table Of Content:
Chapter 1. Research Framework
1.1 Research Objective
1.2 Product Overview
1.3 Market Segmentation
Chapter 2. Research Methodology
2.1 Qualitative Research
2.1.1 Primary & Secondary Sources
2.2 Quantitative Research
2.2.1 Primary & Secondary Sources
2.3 Breakdown of Primary Research Respondents, By Region
2.4 Assumption for the Study
2.5 Market Size Estimation
2.6. Data Triangulation
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The North America Stem Cell Umbilical Cord Blood market report provides insights on the below pointers:
Market Penetration: Provides comprehensive information on the market offered by the prominent players
Market Development: The report offers detailed information about lucrative emerging markets and analyzes penetration across mature segments of the markets
Market Diversification: Provides in-depth information about untapped geographies, recent developments, and investments
Competitive Landscape Assessment: Mergers & acquisitions, certifications, product launches in the North America Stem Cell Umbilical Cord Blood market have been provided in this research report. In addition, the report also emphasizes the SWOT analysis of the leading players.
Product Development & Innovation: The report provides intelligent insights on future technologies, R&D activities, and breakthrough product developments
The North America Stem Cell Umbilical Cord Blood market report answers questions such as:
What is the market size and forecast of the North America Stem Cell Umbilical Cord Blood Market?
What are the inhibiting factors and impact of COVID-19 on the North America Stem Cell Umbilical Cord Blood Market during the assessment period?
Which are the products/segments/applications/areas to invest in over the assessment period in the North America Stem Cell Umbilical Cord Blood Market?
What is the competitive strategic window for opportunities in the North America Stem Cell Umbilical Cord Blood Market?
What are the technology trends and regulatory frameworks in the North America Stem Cell Umbilical Cord Blood Market?
What is the market share of the leading players in the North America Stem Cell Umbilical Cord Blood Market?
What modes and strategic moves are considered favorable for entering the North America Stem Cell Umbilical Cord Blood Market?
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What are the aspects of this report that relate to regional analysis?
The report’s geographical regions include North America, Europe, Asia Pacific, Latin America, the Middle East, and Africa.
The report provides a comprehensive analysis of market trends, including information on usage and consumption at the regional level.
Reports on the market include the growth rates of each region, which includes their countries, over the coming years.
How are the key players in the market assessed?
This report provides a comprehensive analysis of leading competitors in the market.
The report includes information about the key vendors in the market.
The report provides a complete overview of each company, including its profile, revenue generation, cost of goods, and products manufactured.
The report presents the facts and figures about market competitors, alongside the viewpoints of leading market players.
A market report includes details on recent market developments, mergers, and acquisitions involving the key players mentioned.
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What factors are taken into consideration when assessing the key market players?
The report analyzes companies across the globe in detail.
The report provides an overview of major vendors in the market, including key players.
Reports include information about each manufacturer, such as profiles, revenue, product pricing, and other pertinent information about the manufactured products.
This report includes a comparison of market competitors and a discussion of the standpoints of the major players.
Market reports provide information regarding recent developments, mergers, and acquisitions involving key players.
What are the key findings of the report?
This report provides comprehensive information on factors expected to influence the market growth and market share in the future.
The report offers the current state of the market and future prospects for various geographical regions.
This report provides both qualitative and quantitative information about the competitive landscape of the market.
Combined with Porter’s Five Forces analysis, it serves as SWOT analysis and competitive landscape analysis.
It provides an in-depth analysis of the market, highlighting its growth rates and opportunities for growth.
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