PRESS RELEASE

Published April 19, 2023

NEW YORK : UCB is collected from the umbilical cord of a newborn baby and also retrieved from the placenta after delivery. It is enriched with adult stem cells and these stem cells play a vital role in regulating all biological activities and in developing tissues in the human body.

The UCB banking marketreached USD 13,515.8 million in 2014 at a CAGR of 6.1%, to reach USD 19,335.6 million by 2020.

Globally, UCB banking market is growing rapidly due to increasing prevalence of chronic diseases coupled with the regenerative medicines. In addition, various government associations and initiatives are also supporting the growth of the market. North America has the largest market share, followed by Europe and Asia-Pacific, in the global UCB banking market. The global UCB banking market was valued at 10,900 million in 2010 and reached USD 12,774.8 million in 2013.

Umbilical cord blood banking is a process of collecting and storing umbilical cord blood for future medical use. Umbilical cord blood is a rich source of hematopoietic stem cells that can be used to treat various diseases such as leukemia, lymphoma, and other blood disorders. The umbilical cord blood banking market is growing at a rapid pace due to increasing awareness among parents about the potential benefits of storing their childs cord blood. This report aims to provide an overview of the umbilical cord blood banking market, its current trends, and future prospects.

Request For Free Sample Report of Umbilical Cord Blood Banking Market @https://www.persistencemarketresearch.com/samples/3043

Some of the major players operating in the UCB Banking Market:

However, strict license and accreditation procedures and high cord blood Banking Market fee in private banks hampers the growth of global UCB Banking Market. As a result, the global UCB Banking Market is expected to grow a CAGR of 6.1% during 2014-2020.

North America has the largest market for UCB Banking Market. Increasing prevalence of chronic diseases is key driver of UCB Banking Market in the region. In addition, various government associations have also led to the importance of cord blood donation and services for its future use in North America.

Similarly, the European UCB Banking Market is mainly driven by the increasing prevalence of diseases. In addition, increased awareness about therapeutic applications of cord blood and rising number of live births are also contributing in the growth of the UCB market in the region.

In Asia-Pacific, UCB Banking Market is growing due to rising aging population and increasing prevalence of chronic diseases. In addition, several government associations and increasing number of live births are also increasing the demand of cord blood Banking Market services in the region.

Get Premium Research Report @https://www.persistencemarketresearch.com/checkout/3043

Market Drivers

Globally, UCB Banking Market is growing rapidly due to increasing prevalence of chronic diseases coupled with the regenerative medicines. In addition, various government associations and initiatives are also supporting the growth of the market. North America has the largest market share, followed by Europe and Asia-Pacific, in the global UCB Banking Market. The global UCB Banking Market was valued at 10,900 million in 2010 and reached USD 12,774.8 million in 2013.

Globally, increasing prevalence of chronic diseases coupled with the emerging field of regenerative medicines is driving the UCB Banking Market. In addition, various government associations and initiatives are also supporting in the growth of the UCB Banking Market.

Market Restraints

Strict license and accreditation procedures impede the growth of UCB Banking Market. In addition, high Banking Market cost in private UCB banks is also hampering the growth of UCB Banking Market. Allogeneic hematopoietic stem cell transplantation and cord tissue storage are some of the major trends in UCB Banking Market.

Access full report @ https://www.persistencemarketresearch.com/market-research/umbilical-cord-blood-Banking Market-market.asp

About Us:

Persistence Market Research is a U.S.-based full-service market intelligence firm specializing in syndicated research, custom research, and consulting services. Persistence Market Research boasts market research expertise across the Healthcare, Chemicals and Materials, Technology and Media, Energy and Mining, Food and Beverages, Semiconductor and Electronics, Consumer Goods, and Shipping and Transportation industries. The company draws from its multi-disciplinary capabilities and high-pedigree team of analysts to share data that precisely corresponds to clients business needs.

Contact Us:

Persistence Market ResearchAddress 305 Broadway, 7th Floor, New York City, NY 10007 United StatesU.S. Ph. +1-646-568-7751USA-Canada Toll-free +1 800-961-0353Sales [emailprotected]Website https://www.persistencemarketresearch.com

Read this article:
The UCB banking market to grace digital transformation curve at a ... - Digital Journal