With the global cord blood banking industry maturing and consolidating over the past five years, it is more important than ever to be well-educated about cord blood industry trends.
There are now fewer market players, because many small cord blood banks have either been acquired or gone out of business. However, existing cord blood banks are now better positioned to leverage their resources. With the global cord blood banking industry maturing substantially over the past few years, it has created both serious threats and novel opportunities.
Therefore, the “Complete 2015-16 Global Cord Blood Banking Industry Report“ discusses trends in cord blood industry clinical trials, scientific publications, patents, and grants. It also considers clinical trial market data supporting applications for hematopoietic stem cells (HSCs) from cord blood and mesenchymal stem cells (MSCs) from cord tissue.
Considering both traditional analytics and new social analytics (derived from Google Trends, Google Search, and top social media platforms), it is a comprehensive overview of trends impacting the cord blood banking industry today.
Cord Blood Industry Threats
Serious threats to the cord blood banking industry include new accreditation requirements that have increased the cost structure of cord blood banks, a recent decline in cord blood transplants within the U.S. and other geographical regions, low rates of turnover for stored cord blood units, expensive cord blood transplantation procedures costing from $200-300K each, difficulty with educating obstetricians about cellular therapies, and poor press coverage in many regions worldwide.
Other uncontrollable factors that could threaten the industry include: new legislation, changes in transplant reimbursement, continually evolving accreditation requirements, the potential for competitive approaches to be shown as more optimal, patent challenges for processing or transplant technologies, changes in public perception of private vs. public banking, shift in policy recommendations by influential medical organizations, and changes in government support.
Marketing pressures are also impacting the industry, with the term “cord blood” becoming one of the 20 most expensive search terms on Google, reaching more than $20 per click for global search traffic and close to $40 per click for U.S. search traffic.
Cord Blood Industry Opportunities
Emerging opportunities in the cord blood baking industry are also discussed in this 2015-2016 research report, including:
- The potential to expand market size through increasing public awareness
- New clinical trial data supporting applications for hematopoietic stem cells (HSCs) from cord blood and mesenchymal stem cells (MSCs) from cord tissue
- Improving public perception toward stem cell therapies
- Substantial deal-making within the industry, including mergers, acquisitions, and funding rounds
- The potential for cross-organizational collaboration through formation of Cord Blood Industry Associations (occurring in within U.S. and South America)
- A trend toward diversification within the industry, with cord blood banks effectively becoming stem cell banks through the storage of cord blood, cord tissue, and in some cases, placental tissue, amniotic fluid, and more
Global Trends the Affect Cord Blood Banking Industry
The cord blood market is global in nature, and understanding dynamics limited to your region is not sufficient for making strategic, informed, and profitable decisions. Furthermore, cord blood banks now exist in every developed country, as well as within most developing nations.
With nearly 500 cord blood storage providers operating worldwide, maturation of the global cord blood market means that each cord blood bank is now fighting harder for market share.
In 2008, a Taiwanese company, HealthBanks Biotech Company Ltd. became the first company to offer cord tissue storage, but it was not until July 2010 that the first private U.S. cord blood bank began offering the service (Cord Blood Registry). Since then, the trend of cord tissue storage has had a significant impact on the cord blood banking industry, with a large percentage of cord blood banks worldwide offering the service. Other global trends, such as diversified stem cell biobanking, are also impacting the industry.
Within this rapidly evolving ecosystem, those who choose to commit to understanding current opportunities and threats will be positioned for a substantial strategic advantage.
In China, the government shocked the cord blood industry worldwide when it announced that only one cord blood bank would be allowed to operate within each province, and official government support, authorization, and permits would be required. While China Cord Blood Corporation has since earned permits for three of the seven Chinese provinces (holding majority share of the Chinese cord blood market) and is now competing as one of the fastest growing cord blood banks in the world, several other providers of cord blood services disappeared when this legislation was passed.
In Italy and France, it is illegal to privately store one’s cord blood, which has fully eliminated the potential for a private market to exist within the region.
In Ecuador, the government is now creating the first public cord blood bank and has instituted laws such that private cord blood banks cannot approach women about private cord blood banking options during the first six months of pregnancy. This has created a crisis for the private banks, and there are now only two remaining in Ecuador.
Clearly, it is vital to understand the market dynamics and risks, as well as the emerging opportunities within different regions of the world.
Key Survey Findings from 600+ Recent and Expectant Parents (Client Trends)
Also included in this 2015-16 cord blood banking industry report is a survey of 600+ recent and expectant parents. In addition to exploring awareness rates, this 40-question, 52-page survey explores topics that include how to strategically position your products, effectively educate parents, prioritize your marketing budget, and understand why parents bank publicly, privately, or not at all.
It also reveals the most popular blogs, websites, and apps among expectant parents, and it provides key insight into the minds of your prospective clients. Use the findings from this section to make effective decisions, create targeted marketing messages, and produce higher prospect-to-client conversion rates.
With responses from 600+ recent and expectant parents worldwide, this comprehensive survey will substantially improve your ability to position cord blood banking services.
Key findings from this survey include:
- Rates of cord blood banking awareness by gender, income, geographic location, and education
- Sources through which expectant parents learn of cord blood preservation
- Factors influencing private vs. public storage of cord blood
- Price sensitivity and quality expectations
- Approaches for communicating with expectant parents
- Key factors influencing the decision to store cord blood
- Parental responsiveness to health statistics
- “Tested” language for communicating with expectant parents
- And more
In summary, the “Complete 2015-16 Global Cord Blood Banking Industry Report” addresses rapidly-evolving trends within the global cord blood marketplace. It considers a range of critical factors, including public perception, medical opinions, recent scientific and clinical advances, accreditation factors, cost structures, and more. Use this report to strategically position yourself to expand, profit, and outmaneuver your competition.
BioInformant is the first and only market research firm to specialize in the stem cell industry. BioInformant research has been cited by the Wall Street Journal, Xconomy, and Vogue Magazine. Serving Fortune 500 leaders that include GE Healthcare, Pfizer, and Goldman Sachs, BioInformant is your global leader in stem cell industry data.