Umbilical cord blood has become a valuable commodity in the healthcare sector in recent years due to rising awareness about the utility of stem cells in the treatment of a wide variety of diseases. Umbilical cord blood is the blood left over in the placenta after childbirth, and is the best source of stem cells. Stem cells have become vital in the medical field due to their capacity to regenerate into any kind of human cells. This has made them a prime candidate for the treatment of several degenerative diseases that have proven to be beyond mankind so far. Genetic and hematopoietic diseases are also treated with stem cells, further increasing the utility of the umbilical cord blood market to the healthcare sector.
Growing government support has been crucial for the global Umbilical Cord Blood Market and is likely to remain the key driver in the coming years. Safe and convenient storage of umbilical cord blood and stem cells requires sophisticated infrastructure, which requires significant government backing in terms of both economic freedom and regulations. The increasing number of governments acknowledging the utility of stem cells and thus umbilical cord blood to the medical sector is thus crucial for the global umbilical cord blood market.
Government support has also helped the umbilical cord blood overcome social reservations about the use of stem cells. The intimate nature of umbilical cord blood and the strong emotional ties attached to the childbirth process had made obtaining umbilical cord blood difficult due to lack of popular support. Steady government presence in awareness programs has thus proved important for the umbilical cord blood market. The rising presence of private players in stem cell research is also vital for the global umbilical cord blood market.
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UCB stem cells have emerged as an effective treatment option for over 80 diseases including immunodeficiency disorders, cancer, and other chronic blood disorders. Many of these diseases have no cure but can be treated effectively using stem cells obtained from the umbilical cord. UCB stem cells travel to the location of the damage, identify the infected cells, and then initiate a healing process. Moreover, the risk of rejection is nonexistent, because they are obtained from the same individual.
With research being underway for developing UCB stem cells to effectively treat diseases such as Alzheimer’s, diabetes, heart failure, and brain tumor, the future of the global stem cell umbilical cord blood market seems very impressive. Owing to their inherent health benefits, UCB stem cells are identified as a successful mode of treatment for various life-threatening ailments.
Government authorities are also supporting clinical trials and research into cord blood stem cells, which has been a crucial factor increasing the interest of the healthcare industry and compelling major healthcare players to invest in the commercialization of UCB stem cells therapies. For instance, Cytori Therapeutics Inc., Athersys, and California Stem Cell Inc. are engaged in developing novel stem cell therapies from UCB stem cells. This is a key factor offering impetus to the global market for stem cell umbilical cord blood.
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Competition prevailing in the global stem cell umbilical cord blood market is currently intense, with enterprises focusing mainly on creating brand awareness. This is compelling enterprises operating in the market to formulate innovative strategies. To study the competition prevailing in the market, the report profiles companies such as Nuo Therapeutics, Teva Pharmaceuticals, Cytori Therapeutics, and others.