There was a huge growth in the cord blood industry during the period of the mid-late 2000s. Through the past few years, the cord blood market had become compact and matured. In addition to North Asia and Southeast Asia, the growth had been also seen in North American as well as the European countries. As the cord blood industry has significantly matured throughout the world, so there are some opportunities and threats that are laying impact on the industry.
If you are thinking that how there can be any threat for such a useful process of cord blood banking? Then it can be said that
“YOU KNOW NOTHING”
and there are lots of threats that include:
- Low consumption rate of the cord blood units which are stored.
- The cord blood transplantation is an expensive procedure.
- Requirement of accreditation increases the cost structure of the cord blood banks. To obtain an industry accreditation a cord blood bank needs a huge expense.
- Cord blood has now become the most expensive products in the market which has led to the increase in the market pressure on the companies.
- The competition in price is another threat because there are many competitors offering discounts in their price plans.
- Other factors of threat are continuous requirement of accreditation, natural calamities that can harm the infrastructure, inadequate knowledge among the people about cord blood banking and many others.
In addition, there are some opportunities too:
- HLA mismatch transplants become less as the stem cells are used from the family.
- Occurrence of GVHD becomes less and now-a-days it becomes easy to treat GVHD.
- Increase in the regulatory pathways for stem cell transplantation.
- Clinical trials on stem cell therapy are ongoing to approve more diseases that could be treated by stem cell therapy.
- Improving the knowledge of stem cell therapy among common people.