Cord (Stem Cell) Blood Banking Market to Grow at a CAGR of 11.6% During 2018-2022 Report by TBRC

LONDON, Dec. 10, 2019 /PRNewswire/ -- The global stem cell/cord blood banking market was valued at about $6.96 billion in 2018, and is expected to grow to $10.79 billion at an annual growth rate of 11.6% through 2022. Increasing number of cancer patients is a major driver for the stem cell/cord blood banking market. Cancer diseases such as leukemia and multiple myeloma can be treated by stem cell transplant. In stem cell transplant, treatment can be either done by autologous transplant in which the stem cells come from the same person who gets the transplant, or by allogeneic transplant in which the stem cells come from a matched related or unrelated donor. By using stem cells in the treatment of cancer, the blood forming stem cells which are damaged during chemotherapy can be restored. According to the National Cancer Institute, in 2018, around 609,640 deaths were caused due to prevalence of the cancer which can be treated by transplanting the stem cells.

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Cord stem cells are referred to as regenerative medicines which help in regeneration of tissues or cells in the body. Stem cells therapy is designed to aid the physician in performing medical treatment of different types of cancers, neurodegenerative diseases, graft-versus-host disease, and heart diseases.

Pregnant Women Are Unaware Of Public Cord Blood Banks

Lack of awareness especially among pregnant women is a major restraint for the stem cell/cord blood banking market. This is mainly because a majority of pregnant women are unaware of the functioning of public cord blood banks. Hence, this option is not fully explored despite the advantages of stem cell transplantation in treating cancer. For example, according to a 2016 survey by International Journal of Reproduction, Contraception, Obstetrics and Gynecology (IJRCOG), only 45% of pregnant women were informed about the uses of umbilical cord blood during pregnancy, just 5% were aware about the cost of the procedure, and less than 1% were aware about the availability of cord blood banking.

Genetic Testing Services In The Stem Cell/Cord Blood Banking Market

Pairing of cord blood and tissue storage with genetic testing services is an emerging trend in the stem cell/cord blood banking market. Such pairing is possible and efficient because of its complimentary services to the existing clients, thereby helping in expanding their product portfolio. For example, in March 2017, genetic testing company Natera launched the Evercord cord blood and tissue storage service that enables expectant parents to collect, store and potentially retrieve their newborn's cord blood and tissue for therapeutic use in transplantation and regenerative medicine applications.

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Major Players In The Stem Cell/Cord Blood Banking Market Are Investing In M&As

Major players in the stem cell/cord blood banking market are AMAG Pharmaceuticals, Cordlife, Cryo-Cell International, Esperite, and Americord Registry LLC. Companies have been investing in merger and acquisition activity to strengthen and expand their businesses. In June 2018, GI Partners entered into an agreement with AMAG Pharmaceuticals to acquire its company Cord Blood Registry (CBR) for $530 million. This acquisition will help GI Partners to be a leader in the stem cell storage and reproductive tissues market. CBR is the world's largest stem cell collection and storage company that was acquired by AMAG Pharmaceuticals in 2015. AMAG Pharmaceuticals is an expert in developing products that treat iron deficiency anemia in adult patients. It was founded in 1981 and is headquartered in Massachusetts, the USA.

Regulatory Landscape Of The Stem Cell/Cord Blood Banking Market

The US Food and Drug Administration (FDA) outlines guidance related to stem cell/cord blood banking in accordance with section 212 of the Small Business Regulatory Enforcement Fairness Act (Public Law 104-121). As per this act, stem cells sourced from cord blood for unrelated allogeneic use are regulated by the FDA, and, in order to distribute these products, distributors need to get a license from the FDA. These licenses are provided by the FDA after reviewing the manufacturing and the storage conditions. In this regard, the American Association of Blood Banks (AABB) and other regulatory agencies also work with the FDA. The regulatory scenario related to the stem cells/cord blood banking market is expected to keep a check on companies involved in this market.

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