Collected at the time of birth of a child, Umbical Cord Blood Cells are considered rich in stem cells and hence, are made used in research and treatment of genetically disease. UCB stem cells are very useful to generate red blood cells and cells of the immune system as it has have hematopoietic stem cells - alike in the bone marrow. At present Cord blood stem cells are used to cure of blood disorders and immune system conditions such as leukaemia, anaemia and autoimmune diseases.
A recent study by Allied Market Research, global umbilical cord blood stem cell market is observed to reach $11.5 billion in 2014 from $6.5 billion in 2012. Further, it is estimated to reach $56.4 billion by 2020 growing at a CAGR of 33.4%.
As per analysts, cost effectiveness and efficiency of cord blood stem cell therapies gives it an upper edge when compared to other therapies and also it also assist in discovering new therapies for treatment of chronic disorders. Factors that are working favorable for its growth are rising awareness and increasing government support for cord blood stem cell.
Demand for an enhanced and cost effective treatment is rising due to rise in rate of diseases like immune disease, diabetes, metabolic disease, cancer etc has increased the. As per the report, these stem cells give a higher cell count in low volume of blood and can be easily stored in Cord Blood Stem Cell Banks.
As per the report, clinical trials are in their last stage and hence, this will commercialize the application of cord stem cell market. Report prepared by AMR observed that in developed countries patents for therapeutics and collection techniques method are approved by their respective governmental organization. But UCB stem cell patents are trivial in developing countries.
As far as geographical location is concerned, report stated that the 44% of total revenue generated by North America in 2013. Also study suggests that due to rising demand for chronic disorder treatments and rising awareness Asia Pacific region will show higher growth in UCB stem cells market.
