Cord Blood Banking Service Market Is Projected To Grow Due To Increasing Application Of Stem Cell Therapy In Disease Treatment Till 2022: Grand View Research, Inc.
The global market for cord blood banking (CBB) service is expected to reach over USD 12 billion by 2022, growing at an estimated CAGR of around 11% from 2015 to 2022, according to a new report by Grand View Research, Inc. Key drivers of the market include increasing application of stem cell therapy in disease treatment, and rising prevalence of life threatening genetic disorders. Moreover, increasing spending capacity is fueling the demand for advanced healthcare facilities including prevention and treatment. As a result, parents are increasingly demanding CBB Service to ensure safety of their child’s future. Furthermore, private players are practicing marketing activities which are creating awareness about the availability of the CBB Service and their benefits. In addition, governments worldwide are promoting public CBB to develop ethnically diverse cord blood repository which would increase the chances of finding suitable human leukocyte antigen (HLA)...