Middle East & Africa Umbilical Cord Blood Banking Market Forecast to 2031 - Regional Analysis - by Bank Type, Service, and End User

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 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.

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