Stem Cell Umbilical Cord Blood (UCB) Market to grow at a CAGR of 18.5% during 2024-2028
The Stem Cell Umbilical Cord Blood (UCB) Market is expected to grow at a CAGR of 18.5% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 1688.5 million. Stem cells serve as the body's fundamental building blocks, capable of developing into various specialized cells as needed. Under specific conditions, stem cells multiply, generating daughter cells that can either become new stem cells or cells with distinct functions such as blood, brain, heart muscle, or bone cells. The human body lacks other cells with the innate capacity to produce new cell types. Consequently, the exploration of stem cell research holds immense promise for medical professionals. It offers potential avenues for disease understanding, regenerating healthy cells to replace diseased ones, and assessing new drugs for safety and efficacy.
Get more information on Stem Cell Umbilical Cord Blood (UCB) Market by requesting a sample report
Technavio analysts predict that the Pharmaceutical subsegment will lead the End-user segment during 2024 and 2028 In the dynamic and innovative biotechnology sector, stem cells derived from umbilical cord blood (UCB) have emerged as a valuable resource for pharmaceutical companies. These cells possess the unique ability to differentiate into various cell types, making them an indispensable tool for creating effective tissue or disease models. The well-established healthcare infrastructure in major markets, such as the US with over 6,600 active pharmaceutical companies, facilitates the entry and growth of businesses in the global stem cell UCB market. Significant investments in stem cell research, indicative of a burgeoning market, further underscore the potential for substantial returns in this field.
Here are the various ways based on which the market is segmented:
There are several factors that are causing the market to flourish rising prevalence of several chronic disorders
Learn which are the obstacles that the market is experiencing in the way of its growth by accessing the free PDF report
The Stem Cell Umbilical Cord Blood (UCB) market has gained significant attention in recent years due to its potential in treating lifethreatening diseases. Cord blood donation during childbirth provides an abundant source of hematopoietic stem cells, which have the ability to develop into various blood cells and regenerate damaged tissues. Private UCB banks offer storage services for families, ensuring the availability of their child's stem cells for future use. Cord tissue storage, including the placenta, is another area of interest due to the presence of mesenchymal stem cells, which have biological activities essential for tissue development and regeneration. Regenerative medicines, including stem cell research, have shown promise in treating various diseases, such as lymphoma, leukemia, blood illnesses, rare diseases, genetic diseases, and chronic diseases. Isolation methods and storage methods are crucial in preserving the viability and functionality of these precious cells. Adult stem cells from the UCB have been used in clinical applications, including bone marrow transplants and gene therapy. The commercialization of UCB-derived stem cells continues to grow, with ongoing research and advancements in the field.
The Stem Cell Umbilical Cord Blood (UCB) Market falls under the broader scope of the global pharmaceuticals sector, encompassing entities involved in the research and development (R&D) or production of various pharmaceutical offerings, including generic and non-generic drugs, as well as veterinary medicines. According to Technavio, the size of the healthcare market is determined by the consolidated revenue generated by manufacturers and providers of medical equipment, supplies, pharmaceuticals, biotechnology, and life sciences tools and services. Factors propelling the expansion of the pharmaceuticals market include the increasing aging population. By 2050, approximately one-quarter of the US population is projected to surpass the age of 60 years, while Europe is anticipated to reach a similar demographic milestone by 2030.
The Stem Cell Umbilical Cord Blood (UCB) Market is experiencing significant growth, fueled by the rising prevalence of several chronic disorders. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.
Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/
Safe and Secure SSL Encrypted
One user only.
Quick & easy download option
Unlimited user access (Within your organization).
Complimentary Customization Included
*For Enterprise license, go to checkout page
Get the report (PDF) sent to your email within minutes.
