Middle East & Africa Umbilical Cord Blood Banking Market

The Middle East & Africa umbilical cord blood banking market was valued at US$ 102.40 million in 2023 and is anticipated to reach US$ 193.87 million by 2031; it is estimated to register a CAGR of 8.3% from 2023 to 2031.

Increasing Hybrid Banking Models Drive Middle East & Africa Umbilical Cord Blood Banking Market

Hybrid banking models combine the advantages of private and public cord blood banking, offering a more comprehensive and flexible approach to stem cell storage and usage. These days, a lot of public banks are partnering with private cord blood banks using a hybrid model.

In a hybrid banking model, families have the option to store a portion of their baby's cord blood in a private bank for their exclusive use while donating another portion to a public bank for potential use by others in need. This dual storage approach secures personalized treatment options for the family and contributes to the public stem cell registry, expanding the pool of available units for transplantation. Moreover, hybrid banking models align with the growing emphasis on personalized medicine and the importance of collaborative healthcare approaches. They reflect a shift toward a more patient-centric and community-focused healthcare framework, where the collective benefit of stem cell research and therapy is prioritized alongside individual needs.

Owing to the increasing technological advancements and rising demand for stem cell therapies, hybrid banking models are expected to emerge as a major trend in the Middle East & Africa umbilical cord blood banking market during the forecast period.

Middle East & Africa Umbilical Cord Blood Banking Market Overview

Public umbilical cord blood stem cell bank (UCB SCB) helps in addressing the significant unmet need for bone marrow (BM) transplants. Therefore, by filling a significant gap in the healthcare system, establishing a public UCB SCB would be the right step toward raising the standard of care in South Africa. To keep up with the demands of a changing population and to contribute to and profit from global partnerships in tissue transplantation, South Africa needs to investigate the idea of UCB biobanking. These factors necessitate the development of a particular regulatory framework that offers instructions on the use and storage of UCB. In 2021, the largest and most established private cord blood bank in Africa, Biobank (formerly Netcells), partnered with the South African Bone Marrow Registry (SABMR) to provide cord blood stem cells to patients requiring stem cell transplants.

Middle East & Africa Umbilical Cord Blood Banking Market Revenue and Forecast to 2031 (US$ Million)

Middle East & Africa Umbilical Cord Blood Banking Strategic Insights

Strategic insights for the Middle East & Africa Umbilical Cord Blood Banking provides data-driven analysis of the industry landscape, including current trends, key players, and regional nuances. These insights offer actionable recommendations, enabling readers to differentiate themselves from competitors by identifying untapped segments or developing unique value propositions. Leveraging data analytics, these insights help industry players anticipate the market shifts, whether investors, manufacturers, or other stakeholders. A future-oriented perspective is essential, helping stakeholders anticipate market shifts and position themselves for long-term success in this dynamic region. Ultimately, effective strategic insights empower readers to make informed decisions that drive profitability and achieve their business objectives within the market.

Middle East & Africa Umbilical Cord Blood Banking Report Scope

Middle East & Africa Umbilical Cord Blood Banking Regional Insights

The geographic scope of the Middle East & Africa Umbilical Cord Blood Banking refers to the specific areas in which a business operates and competes. Understanding local distinctions, such as diverse consumer preferences (e.g., demand for specific plug types or battery backup durations), varying economic conditions, and regulatory environments, is crucial for tailoring strategies to specific markets. Businesses can expand their reach by identifying underserved areas or adapting their offerings to meet local demands. A clear market focus allows for more effective resource allocation, targeted marketing campaigns, and better positioning against local competitors, ultimately driving growth in those targeted areas.

Middle East & Africa Umbilical Cord Blood Banking Market Segmentation

The Middle East & Africa umbilical cord blood banking market is segmented into bank type, service, end user, and country.

Based on bank type, the Middle East & Africa umbilical cord blood banking market is bifurcated into public and private. The public segment held a larger market share in 2023.

In terms of service, the Middle East & Africa umbilical cord blood banking market is bifurcated into storage and processing. The storage segment held a larger market share in 2023.

By end user, the Middle East & Africa umbilical cord blood banking market is segmented into hospitals, research institutes, and others. The hospitals segment held the largest market share in 2023.

By country, the Middle East & Africa umbilical cord blood banking market is segmented into South Africa, Saudi Arabia, the UAE, and the Rest of Middle East & Africa. South Africa dominated the Middle East & Africa umbilical cord blood banking market share in 2023.

CryoViva Singapore, NovaCord, Revvity Inc, and WMDA are some of the leading companies operating in the Middle East & Africa umbilical cord blood banking market.