Cord blood collection industry is on rapid growth

Cord blood banking is providing a much needed boost to the medical industry. The cord blood collection has experienced high growth for the past one year. It is all because of the regular entry of large number of    cord blood banks in this industry that have successfully generated high revenue. On examination of the existing number of banks it has been analyzed that these banks falls not into generally two categories - one is building profit and other is flat line growth.

The main findings of this research are as –

• Sources that inform parents about cord blood perseveration
• Factors affecting growth of public and private banks
• Awareness rate –gender wise, income, location and qualification
• Competitive analysis
• Decision making factor regarding selection of banks
• Expectation of the quality and cord blood banking cost
• Trends in banking and statistics of improvement of health after the transplant
• What approaches are preferred to reach such parents?

These findings have further raised several questions as given below –

• What are the factors responsible for the increased number of new banks?  There can be a number of possible of reasons for this. It can be due to advancement in the therapeutic facilities and a profit opportunity. Another reason is feeling of social responsibility to aware parents about umbilical cord blood collection during the birth.
• What are the effects of the entry of new players on the rivals that are already in the market in the banking industry of cord blood?
• Last but not least another query is- what are the major differences in case of blood banks of cord blood which are experiencing flat growth on comparison with those that are building profits significantly.

A report launched in the month of April 2009 published a survey. The survey was based on the choices of cord blood bank – factors effecting decision making of parents. The study included about twelve hundred expecting parents. The goal was to get an idea how cord banks promote to donate cord blood and marketing of the services to the potential clients. The report discuses some of the specified reasons that parents usually choose during the cord blood storage and also factors effecting the decision to choose a particular bank. Along with this the reports also included information about how to handle the flat line growth and give tough competition to other market players in the industry.   The medical field is giving high support for the cord blood banking is because it has given rise to new advanced treatments. The industry will surely contribute to the growth of the world economy by providing new and advanced treatments.