New York, NY -- (SBWIRE) -- 10/10/2014 -- Biopreservation involves various techniques such as hypothermic storage, vitrification and cryopreservation in laboratory and clinical environment. Increase in demand for cell-banking systems, such as umbical cord banking, tissue banking and cell banking, has led to increase in the biopreservation market with a high growth rate. Umbilical Cord Blood Banking is a technique involving collection and storage of baby’s umbical cord cells and tissues in an appropriate environment to preserve it with sustained integrity. It is done as a result of potential stored in blood cells of umbical cord, that when required, these cells can be used to create new tissue or organs. This can help a person in fighting against various diseases and deficiencies.

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Umbical cord blood banking market can be segmented into public cord blood banks and private cord blood banks. North America dominates the global market for umbical cord blood banking due to technical advancements and high level of research activities in the region. Asia followed by the Europe is expected to experience high growth rates in the next few years in umbical cord blood banking market. China and India are expected to be the fastest growing umbical cord blood banking markets in Asia region, due to increasing investments by government and non-government organizations. Some of the key driving forces for umbical cord blood banking market in emerging countries are increasing R&D investment, and rising government funding.

Increased awareness, technological advancement in field and high adoption rate of umbical cord blood banking among the people has driven the global umbical cord blood banking market. In addition, rise in the investments from government and non-government organizations and fast establishment of biobanks has driven the market for umbical cord blood banking. However, high cost involved, stringent maintenance of proper environment and cases of injury to biosample while freezing and thawing have restrained the umbical cord blood banking market from growing. In addition, economic crisis followed with regulatory, ethical and reimbursement issues restrain the umbical cord blood banking market from growing.

Increasing applications of umbical cord blood cells and huge potential stored in emerging countries are expected to offer good opportunity for umbical cord blood banking market. Various companies involved in pharmaceutical and biotechnology sector are making investments in this field. Also, as a result of similar type of product being produces, there is high level of competition among the market players. These are some of the major trends that have been observed in umbical cord blood banking market. Some of the major companies dealing in umbical cord blood banking market are Cryo-Cell International, Inc., Cordlife Group Ltd., ViaCord, Inc., Cord Blood Registry Systems, Inc., Cryo-Save Group AV and NeoStem, Inc. Other major players in umbical cord blood banking market are Smart Cells, CorCell, China Cord Blood Corporation and Cord Blood America, Inc.

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