Led by several established players, such as America Cell Biobank Inc., CrioCenter, Banco de Cordon Umbilical (BCU), and Redcord S.A., the cord blood banking services market in Latin America has been demonstrating a highly competitive and fragmented business landscape, states a research study by Transparency Market Research (TMR). The market is characterized by various rules and policies that vary from country to country.
The market players are relying heavily on technical advancements for expansion in their businesses. CrioCenter, CordVida, Cellpreserve, CordCell, Redcord S.A., Cordón de Vida, Banco de Células Stem, and Células Madre C.A. are the other prominent cord blood banking service providers across Latin America, the report mentions.
A per the TMR’s report, the Latin America market for cord blood banking services was worth US$196.9 mn in 2014. Researchers project the market to proliferate at a CAGR of 9.40% over the period from 2015 to 2023 and attain a value of US$445.4 mn by the end of the forecast period.
Browse Full Research Report: https://www.transparencymarketresearch.com/latam-cord-blood-banking-services-market.html
Public Cord Blood Banking Services to Report Dominance
Currently, cord blood banking services are being discretely provided in the public and the private sectors, resulting in two types of storages, public and private, in this Latin American market. With continual funds from the governments, non-government organizations, and research societies, the public cord blood banking services segment has registered its dominance in this market. Analysts expect the scenario to remain so over the forecast period.
The research report also presents a comprehensive assessment of the Latin America market for cord blood banking services on the basis of its geographical bifurcation. Brazil, Columbia, Mexico, Argentina, and the Rest of Latin America have been considered as the main geographical segments of this regional market in this study. Brazil, Mexico, and Columbia have surfaced as the leading domestic markets for cord blood banking services in this region and are focusing aggressively on expanding the network of cord blood banks in Latin America.