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What is the Expected Growth Rate of the Cord Blood Banking Services Market from 2024 to 2033?

The cord blood banking services market has also grown steadily, projected to grow from $25.05 billion in 2023 to $26.71 billion in 2024 at a CAGR of 6.7%. This growth is fueled by increasing demand for stem cell therapies, government initiatives, higher healthcare spending, a rise in chronic diseases, and increased demand for cord blood cells.

The cord blood banking services market is expected to reach $35.03 billion by 2028 at a CAGR of 7.0%. Growth is driven by the rising incidence of autoimmune diseases, cancer, hematological disorders, and genetic conditions. Trends include advancements in stem cell research, innovative therapies, improvements in processing and storage techniques, and the development of therapeutic products using cord blood.

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What Key Factors Are Fueling the Growth of the Cord Blood Banking Services Market?

The increasing prevalence of genetic disorders is expected to drive the growth of the cord blood banking services market. Genetic disorders are caused by abnormalities in DNA, such as mutations. Advances in diagnostic technologies and higher maternal age contribute to the rising prevalence of these disorders. Cord blood banking provides stem cells for treating genetic disorders, including transplants and potential future gene therapies. For instance, in June 2023, Gene People reported that one in every 25 children in the UK has a genetic disorder, impacting approximately 30,000 children in the UK and more than 2.4 million individuals globally each year. This rising prevalence of genetic disorders is fueling the growth of the cord blood banking services market.

What Are the Major Segments of the Cord Blood Banking Services Market?

1) By Component: Cord Blood, Cord Tissue

2) By Service: Collection And Transportation, Processing, Analysis, Storage

3) By Application: Cancer, Blood Disorders, Metabolic Disorders, Immune Disorders, Other Applications

4) By End User: Hospitals, Pharmaceutical Research, Research Institutes

What New Trends Are Transforming the Cord Blood Banking Services Market?

Companies in the cord blood banking services market are focusing on facilities that enhance stem cell viability and therapeutic potential. In August 2024, Future Health GCC launched a state-of-the-art cord blood banking facility in Dubai Healthcare City. This facility allows families to store newborn stem cells, which can be used for various health conditions, and ensures optimal storage conditions with advanced technology and safety standards.

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Which Regions Are Driving Growth in the Cord Blood Banking Services Market?

North America was the largest region in the cord blood banking services market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the cord blood banking services market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The Cord Blood Banking Services Global Market Report 2024 offers a comprehensive overview of the audio equipment market, covering historical data from 2010 to 2021 and providing a ten-year forecast from 2023 to 2032. This report examines the size of the cord blood banking services market, its market share, and analyzes key competitors along with their market positions.

The Table Of Content For The Cord Blood Banking Services Market Include

1. Cord Blood Banking Services Market Executive Summary

2. Cord Blood Banking Services Market Segments

3. Cord Blood Banking Services Market Size And Template Market Growth Rate

4. Key Cord Blood Banking Services Market Trends

5. Major Cord Blood Banking Services Market Drivers

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25. Key Mergers And Acquisitions In The Cord Blood Banking Services Market

26. Top Cord Blood Banking Services Companies

27. Cord Blood Banking Services Market Opportunities And Strategies

28. Cord Blood Banking Services Market, Conclusions And Recommendations

29. Appendix

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