Albany, NY, March 22, 2016 (GLOBE NEWSWIRE) -- Due to the potential utility of cord blood and cord tissue to treat diseases of the blood and the immune system, cord blood preservation is becoming a common means of treatment for conditions that need treatment with stem cells. Cord blood banks, which can be either public or private, store umbilical cord blood to be used in the future. Medical communities approve of public banks, as they accept donations to be used for anyone in need and function the way public welfare facilities need to. On the contrary, private cord blood banks function to serve the needs of the donor or the donor’s family.
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The report finds out the reasons behind the expeditious growth of the cord blood banking industry over the past few years – novel opportunities and threats to the industry’s progression are looked into herein. The report states the many factors that are aiding the advancement of this industry. Increasing public awareness for preserving stem cells and the improving perception of stem cell therapies is supporting the cord blood banking industry immensely. Other than this, clinical trials utilizing cord blood for hematopoietic stem cell and cord tissue for mesenchymal stem cell applications is extending growth opportunities. Business collaborations between market entities, inter-regional collaboration between various cord blood industry associations, and the demand for diversification to store stem cells, amniotic fluid, and placental tissues will be beneficial for stem cell therapies and their associated industry in the long run.
However, the industry is faced with several challenges that are limiting its growth. Firstly, with the introduction of new accreditation statutes, the expenditure on the functioning of cord blood banks has increased fourfold. However, the low turnover rate of preserved cord blood units is unsustainable for these facilities to provide services at pre-decided terms and conditions. Low acceptance of stem cell therapies and difficulties in educating obstetricians and ancillary staff about stem cell therapies are the reasons for the limited growth of cord blood banking applications. High costs of cord blood transplantation procedures, in the range of US$200,000-300,000 for each treatment, and poor press coverage of cord blood banking services are also detrimental for the growth of stem cell therapies. Declining preservation of cord blood bank in the U.S. and other regions in 2013 also added to the expansion woes of this industry.
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The development of the cord blood banking industry is also impacted by marketing pressures. Google has identified ‘cord blood’ to be one of the 20 most expensive search terms, costing up to US$20 and US$40 per click for global and U.S. internet traffic, respectively.
The analysis in the report on the global cord blood banking industry is supported by extensive surveys carried out in various stages. For example, 600+ recent and expectant parents were questioned on how cord blood banking has helped families come out of life-threatening diseases.
The report has identified top investors in the cord blood market to be ABS Capital Partners & HLM Management, Bay City Capital, KKR & Company, and GTCR, LLC.
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