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Dallas, Texas, Oct. 14, 2022 (GLOBE NEWSWIRE) — The size of the Global Umbilical Cord Blood (UCB) market is anticipated to increase at a CAGR of 16.68% from 2022 to 2029, reaching US$ 12.16 billion.
A substantial increase in chronic diseases inclusive of most cancers, diabetes, a blood disorder, immune disease, metabolic disorder, and so forth has increased the need for a price-effective and efficient manner of treatment. But, umbilical cord blood has the capability to treat these continual illnesses effectively is an important component using the growth of the Umbilical cord Blood (UCB) market. Umbilical cord blood is extracted from the umbilical cord of newborns and also from the placenta after birth. It is rich in adult stem cells, and these stem cells play an important role in the regulation of all biological activities and the development of human tissues.
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Since umbilical cord blood contains stem cells required to treat hematopoiesis and genetic abnormalities, it is generated and kept in either liquid or vapor phase nitrogen to preserve its viability and potency. It may also bring medical benefits to sick siblings and relatives. Umbilical cord blood (UCB) is utilized to rebuild bone marrow following radiation therapy for different types of anemia and blood malignancies.
Umbilical Cord Blood (UCB) Market Scope :
Metrics | Details |
Base Year | 2021 |
Historic Data | 2019-2020 |
Forecast Period | 2022-2029 |
Study Period | 2019-2029 |
Forecast Unit | Value (USD) |
Revenue forecast in 2029 | USD 12.16 billion |
By Product Type | Regenerative Medicine, Transplant Medicine, Allogenic Transplant, Autologous Transplant, Stem Cell Transplant |
By Distribution Channel | Public and Private Cord Bank, Research-Based Pharmaceutical Companies, Academic Institutes, Therapeutics Service Companies |
Key Players Profiled | Cytori, Mesoblast, ATCC, NeoStem, Opexa… |
Read on GNW: Umbilical Cord Blood (UCB) Market Set To Witness a CAGR of