Global Cord Blood Banking Market Size, Innovations Driving Market Evolution 2024-2032

Cord Blood Banking Market Size And Forecast

Cord Blood Banking Market size is valued at USD 2.05 Billion in 2023 and is projected to reach USD 6.67 Billion by 2031, growing at a CAGR of 14% from 2024 to 2031.

• Cord blood banking is the process of taking cord blood, extracting its stem cells and other immune system cells, and cryogenically storing them for future medical use.
• The blood that stays in the umbilical cord and placenta after birth is known as cord blood (short for umbilical cord blood). A maternal-fetal cell transfer occurs at or near term to enhance the immune systems of both the mother and the baby in preparation for childbirth.
• Cord blood includes a large number of stem cells that can be used to cure over 80 hereditary illnesses. These illnesses include cancer, blood illnesses, diabetes, and immunological diseases, all of which can be treated with cord blood stem cells.
• The Global Cord Blood Banking Market is expected to rise due to advancements in therapeutic application, untapped opportunities in developing regions, and initiatives to spread awareness.

Global Cord Blood Banking Market Dynamics

The key market dynamics that are shaping the global Cord Blood Banking Market include:

Key Market Drivers:

• Increasing Mindfulness: Developing mindfulness among eager guardians about the advantages of cord blood banking, for example, its capability to treat different sicknesses and problems, is driving interest for cord blood banking administrations.
• Progressions in Clinical Exploration: Continuous headways in clinical examination, especially in regenerative medication and foundational microorganism treatment, are extending the expected uses of line blood undifferentiated organisms, consequently driving the interest for cord blood banking.
• Rising Commonness of Ongoing Diseases: The rising predominance of persistent sicknesses like leukemia, lymphoma, and hereditary issues is surging the application of advanced treatments, especially genetic-based therapies, to support the ongoing research and development in the field of effectiveness of cord bloods. Thus, the growing awareness regarding the benefits of cord blood and supporting research are driving the adoption of cord blood banking across diverse regions.
• Government Drives and Backing: Government drives and guidelines supporting undifferentiated cell examination and transplantation, alongside the foundation of public cord blood donation centers, are helping the development of the Cord Blood Banking Market by advancing mindfulness and availability.
• Mechanical Progressions: Innovative headways in cord blood handling, stockpiling, and transplantation procedures have worked on the reasonability and viability of line blood undifferentiated organisms, making cord blood banking a more alluring choice for guardians and medical services suppliers.
• Expanding Medical Care Consumption: Rising medical care use and interests in medical care foundation, especially in arising economies, are driving the reception of cord blood banking administrations and supporting the progression of this business.

Key Challenges:

• Restricted Mindfulness: Despite the likely advantages of cord blood banking, there is as yet restricted mindfulness among hopeful guardians about the significance of cord blood and tissue protection. Growing awareness about its potential restorative applications stays a test.
• Significant Expense: Cord blood banking administrations can be exorbitant, including introductory handling and stockpiling charges along with progressing upkeep charges. The significant expense of string blood banking might dissuade a few families from considering it as a choice, especially in districts where medical care costs are not covered by protection or are restrictive for some.
• Moral Worries: There are moral contemplations surrounding the commercialization of cord blood banking, especially the ethical issues concerning the use of cord blood. The cultural restrictions are likely to decrease its adoption in the coming years.
• Administrative Difficulties: Cord blood banking is dependent upon administrative oversight in numerous nations, and consistence with administrative necessities can be mind boggling and tedious. Guaranteeing consistence with guidelines for assortment, handling, stockpiling, and dissemination of cord blood units presents calculated and authoritative difficulties for the market.
• Capacity Limits: The capacity limitations of cord blood banking units is unable to meet the increasing number of cord blood gathered every year. As the capacity constraints emerge, the volume of discarded cord blood units increments, thereby requiring interests in framework development and innovation.

Key Trends:

• Increasing Awareness and Acceptance: There is growing awareness among expectant parents about the benefits of cord blood banking, such as the potential to treat various diseases and conditions using stem cells derived from cord blood. This increased awareness and acceptance are driving demand for cord blood banking services globally.
• Technological Advancements: Advances in technology, including improvements in stem cell isolation, processing, and cryopreservation techniques, are enhancing the quality and viability of stored cord blood units. These technological advancements are making cord blood banking more effective and reliable, thus attracting more customers.
• Expansion of Public Cord Blood Banks: Public cord blood banks are playing an increasingly important role in providing access to cord blood stem cells for transplantation and research purposes. Governments and healthcare organizations are investing in the expansion of public cord blood banking infrastructure to increase the availability of diverse and high-quality cord blood units for patients in need.

Global Cord Blood Banking Market Regional Analysis

Here is a more detailed regional analysis of the global Cord Blood Banking Market:

North America:

• North America has a well-established healthcare system and a high degree of knowledge among pregnant parents about the benefits of cord blood banking. As a result, the region has a higher adoption rate of cord blood banking services than other parts of the world, enabling the region dominate the market.
• The regulatory frameworks governing cord blood banking in North America are well-established and supportive public and private banks. Regulatory authorities, such as the FDA (Food and Drug Administration) in the United States, establish standards and oversight to ensure cord blood banking techniques are safe and effective.
• The region is at the forefront of scientific developments in healthcare, such as stem cell research and biotechnology. This technological skill allows North American cord blood banks to offer state-of-the-art storage and processing facilities, enhancing the quality and viability of stored cord blood units.

Asia Pacific:

• Asia Pacific has a huge and quickly growing population, with countries such as China, India, and Southeast Asian nations seeing rise in birth rates. This demographic trend is generating demand for cord blood banking services as more parents learn about the benefits of keeping cord blood for future medical use.
• Rising disposable incomes and growing middle-class populations in Asia Pacific countries are driving up spending on healthcare services, especially prenatal and neonatal care. This rising healthcare spending is fueling demand for innovative medical technologies, such as cord blood banking, to protect the health and well-being of newborns and pregnant women.
• Healthcare professionals, patient advocacy groups, and educational institutions throughout Asia Pacific are raising awareness about the medicinal potential of cord blood stem cells.

Global Cord Blood Banking Market: Segmentation Analysis

The Global Cord Blood Banking Market is segmented on the basis of Bank Type, Application, End-User, And Geography.

Cord Blood Banking Market, By Bank Type

• Private
• Public
• Hybrid

Based on Bank Type, The market is segmented into Private, Public, and Hybrid. The private cord blood banking segment holds the largest market share, accounting for approximately 80% of the global market revenue. On the other hand, the public cord blood banking segment is expected to grow at a faster rate in the coming years due to increasing government support for public cord blood banking programs and growing awareness of the ethical implications of private cord blood banking.

Cord Blood Banking Market, By Application

• Hematological Malignancies
• Non-Malignant Diseases
• Regenerative Medicine

Based on Application, The market is segmented into Hematological Malignancies, Non-Malignant Diseases, and Regenerative Medicine. The hematological malignancies is expected to dominate the global Cord Blood Banking Market over the forecast timeframe. Growing presence of cancer is surging the need for cord blood banking for effective treatment, thereby enabling this segment retain its top position. While other applications such as non-malignant diseases and regenerative medicine is anticipated to be promising, their widespread adoption in the clinical sector is still in its early stages.

Cord Blood Banking Market, By End-User

• Hospitals
• Research Institutes
• Others

Based on End-User, The market is segmented into Hospitals, Research Institutes, and Others. As per our analyst, hospitals segment is estimated to hold large share in the market. Increasing child birth in hospitals acts a primary point of contact in facilitating cord blood collection. Also, the availability of well-equipped infrastructure and healthcare professionals to safely collect, process, and store cord blood samples for potential future use will help hospitals keep contact with well-known cord blood banking.

Key Players

The “ Global Cord Blood Banking Market” study report will provide a valuable insight with an emphasis on the global market. The major players in the market are Lifeforce Cryobanks, China Cord Blood Corporation, Cordlife Group, Virgin Health Bank, Cord Blood America, CBR Systems, Cryo-Cell International, ViaCord, National Cord Blood Program, Americord, StemCyte, Cryo-Save Group, NeoStem, and Blood Centers of America.

Our market analysis includes a section specifically devoted to such major players, where our analysts give an overview of each player’s financial statements, along with product benchmarking and SWOT analysis. Key development strategies, market share analysis, and market positioning analysis of the aforementioned players globally are also included in the competitive landscape section.

Cord Blood Banking Market Recent Developments

• In May 2021, SingHealth Duke-NUS Academic Medical Centre and Cordlife announced their partnership. This strategy will benefit the company in developing new technologies related to stem cell and blood therapies and increase its share in the industry.
• In August 2019, Cordlife announced its geographical expansion into Bangladesh. This strategy benefited the company to expand its geographical footprint and acquired a larger market share.
• In January 2024, DKMS Chile launched first collection center in Santiago de Chile to enhance stem cell collection as well as transplant capacity in the country and improve access to treatment for patients in need.

Report Scope

Top Trending Reports:

Research Methodology of Market Research:

To know more about the Research Methodology and other aspects of the research study, kindly get in touch with our .

Reasons to Purchase this Report:

• Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factors• Provision of market value (USD Billion) data for each segment and sub-segment• Indicates the region and segment that is expected to witness the fastest growth as well as to dominate the market• Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region• Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions and acquisitions in the past five years of companies profiled• Extensive company profiles comprising of company overview, company insights, product benchmarking and SWOT analysis for the major market players• The current as well as the future market outlook of the industry with respect to recent developments (which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regions• Includes an in-depth analysis of the market of various perspectives through Porter’s five forces analysis• Provides insight into the market through Value Chain• Market dynamics scenario, along with growth opportunities of the market in the years to come• 6-month post-sales analyst support

Customization of the Report

• In case of any please connect with our sales team, who will ensure that your requirements are met.