The cord blood banking industry is one of the fastest growing industries in the world. There were only 23 active cord blood banks as of 2005, and now there are 485 worldwide. Cord blood banks now exist in nearly every developed country, as well as within several developing nations. That is a 21-fold increase (2,100%) in the companies involved in the industry in less than a ten-year period.
Within the United States, cord blood banks have appeared in nearly every state. Furthermore, the U.S. cord blood banking industry is the most mature cord blood banking market in the world, having the:
- First company to offer cord blood storage (1995)
- Early entrant into cord tissue storage (2010)
- Largest total number of industry participants (both public and private)
- Most number of cord blood units (CBU) stored
- Most cord blood units banked proportional to population
This rapid market growth represents both an opportunity to profit, as well as swarming competition.
Part 1: U.S. Cord Blood Banking Industry - Market Overview & Outlook
Stem cells derived from umbilical blood have been used in more than 30,000 transplants worldwide to treat a wide range of blood diseases, genetic and metabolic disorders, immunodeficiencies and various forms of cancer. Additionally, cord blood banks now exist in nearly every developed country, as well as several developing nations. However, there is still significant variation within the industry.
First, there is the divide between private and public cord blood banking, in which private companies serve individual families, while public banks serve the broader public. Additionally, some cord blood banks receive only units from nearby hospitals and birthing centers, while others allow mail-in units from a wide geographic region. There is also variation in the services offered by private cord blood banks, with cord tissue storage emerging as a commercial service in 2010, when the Cord Blood Registry began offering it, to complement its cord blood banking services. This trend of cord tissue storage has had a significant impact on the cord blood banking industry, with nine private U.S. companies now offering the service. Finally, there is also significant variation in the quality, pricing, and guarantees promised by U.S. cord blood banks.
This section of the report considers the impact of historical events, the importance of key findings and discoveries on market conditions, and rapidly changing aspects of the industry. It is a roadmap of where the cord blood banking industry has been, what has shaped it, and where it is going. With an understanding of these relevant market conditions, the subsequent sections of this report become “rooted” and relevant.
Part 2: Expansion & Growth – Trailing 12-Month Analysis and Future Projections
While last section “rooted” where the cord blood banking industry has been and what has shaped it, this section explores where it is now and what you can anticipate for the near-term future. It provides a detailed assessment of current market conditions and near-term projections.
This section is dedicated to revealing, quantifying, and extrapolating industry trends, for the purpose of giving meaning projections for the future. It is your guide to understanding expansion and growth within the U.S. cord blood banking industry.
Part 3: Parent Survey – Continuing to Grow by Listening to Expectant Parents
To recap, the first section of the report “roots” where the cord blood banking industry has been and what has shaped it. The second section explores where it is now and what you should anticipate for the near-term future, and provides a detailed assessment of current market conditions and near-term projections. Most importantly, the previous section shows you what to expect if trends continue as they are; it reveals the environment that you will find yourself in if you don’t take strategic action.
This final section of the report is now your roadmap to the future. It is your guide to taking strategic action and controlling your competitive position as a U.S. cord blood bank.
This section contains findings from a detailed parent survey that reveal how expectant parents within the United States learn about cord blood banking, think about the process, and make key decisions. This survey is your insight into the minds of your prospective clients. Use it to claim powerful control over your ability to sell your services more effectively.
You can use the findings revealed here to:
- Alter the way you position your products
- Understand why parents bank publicly, privately, or not at all
- Communicate successfully with parents
- Effectively educate parents
- Prioritize your advertising budget
- Sell your services more effectively
In summary, this section is your guide to growing, expanding, and profiting, by listening to the needs of your clients – expectant parents.