Cord Blood Banking Services Market to Reach US$445.4 mn by 2023, Brazil Leads in Revenue Generation

According to a new market report published by Transparency Market Research, “Cord Blood Banking Services: (By Type of Storage: Private & Public Cord Blood Banking Services): LATAM Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2015–2023,” the LATAM cord blood banking services market was valued at US$196.9 mn in 2014 and is anticipated to expand at a CAGR of 9.4% from 2015 to 2023 to reach US$445.4 mn by 2023.

Cord blood banking refers to collection and preservation of blood derived from the umbilical cord, thus saved for future therapeutic and research applications. Umbilical cord blood is observed to be a potential source of progenitor cells, which can be used for reconstitution of tissue, organs and other functional areas. Cord blood transplantation is being recommended for a variety of diseases which include conditions such as leukemia, sarcoma, lymphoma, immune conditions and even metabolic disorders. High incidence of genetic disorders and better apprehension of such diseases due to availability of high end diagnostic services have been highly instrumental in rendering market dominance to private cord blood banking services. However, relatively high service charges for cord blood banking and the general opinion among physicians about less possibility of the use of such stored units may restrict the growth of private cord banking services market in LATAM.

Browse the full report at http://www.transparencymarketresearch.com/latam-cord-blood-banking-services-market.html

The major cord blood banking services markets from LATAM are Brazil, Mexico, Argentina, and Colombia. According to market experts, Brazil has around 15 public and 14 private banks operating country wide with average cost of storage and collection of the cord blood in private banks Euro 3,000 (approximately USD 4,112). Cord blood banking services are regulated by the Unified Health Systems (SUS) in Brazil; 60% samples are utilized every year that are stored in public banks in Brazil. Mexico is the second largest cord blood banking services market in LATAM, a program initiated by the Mexican Institute of Social Security (IMSS) in 2005 had generated curiosity and awareness among people regarding cord blood banking services and their advantages. Argentina, Colombia and Rest of the LATAM possess the potential to grow at significant pace. Colombia is the fastest growing cord blood banking services market, owing to rising awareness among people, government support, and active involvement of global experts and organizations such as AATB, CLIA, FACT and others.
According to a new market report published by Transparency Market Research, “Cord Blood Banking Services: (By Type of Storage: Private & Public Cord Blood Banking Services): LATAM Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2015–2023,” the LATAM cord blood banking services market was valued at US$196.9 mn in 2014 and is anticipated to expand at a CAGR of 9.4% from 2015 to 2023 to reach US$445.4 mn by 2023.

Cord blood banking refers to collection and preservation of blood derived from the umbilical cord, thus saved for future therapeutic and research applications. Umbilical cord blood is observed to be a potential source of progenitor cells, which can be used for reconstitution of tissue, organs and other functional areas. Cord blood transplantation is being recommended for a variety of diseases which include conditions such as leukemia, sarcoma, lymphoma, immune conditions and even metabolic disorders. High incidence of genetic disorders and better apprehension of such diseases due to availability of high end diagnostic services have been highly instrumental in rendering market dominance to private cord blood banking services. However, relatively high service charges for cord blood banking and the general opinion among physicians about less possibility of the use of such stored units may restrict the growth of private cord banking services market in LATAM.

The key players in LATAM cord blood banking services market are America Cell Biobank, Inc., Banco de Cordon Umbilical (BCU), CrioCenter, and Redcord S.A. among others.

The LATAM cord blood banking services market has been segmented as follows:

LATAM Cord Blood Banking Services Market Revenue, by Type of Storage, 2013 – 2023 (US$ Mn)
Private Cord Blood Banking Services
Public Cord Blood Banking Services

LATAM Cord Blood Banking Services Market Revenue, by Country, 2013 – 2023 (US$ Mn)
Colombia
Private Cord Blood Banking Services
Public Cord Blood Banking Services

Brazil
Private Cord Blood Banking Services
Public Cord Blood Banking Services

Argentina
Private Cord Blood Banking Services
Public Cord Blood Banking Services

Mexico
Private Cord Blood Banking Services
Public Cord Blood Banking Services

Rest of Latin America (LATAM)
Private Cord Blood Banking Services
Public Cord Blood Banking Services

Browse Press Release: http://www.transparencymarketresearch.com/pressrelease/latam-cord-blood-banking-services-market.htm

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