Cord Blood Banking Services Market Size is projected to reach USD 5.37 Billion by 2031, growing at a CAGR of 13.8%: Straits Research

The global cord blood banking services market size was valued at USD 1.68 billion in 2022. It is projected to reach USD 5.37 billion by 2031, growing at a CAGR of 13.8% during the forecast period (2023–2031), The cancer segment is the highest contributor to the market and is expected to grow at a CAGR of 13.9% during the forecast period.

| Source: Straits Research Straits Research

New York, United States, Sept. 14, 2023 (GLOBE NEWSWIRE) -- Individual cells found in cord blood called hematopoietic stem cells can be used to treat various invasive diseases. More than 70 diseases can be treated using Cord blood, including some types of cancer, genetic disorders, immune system-related illnesses, and neurological problems. Cord blood banking is essential for a child’s long-term health and family. Cord blood banking services are available to parents who wish to preserve their child's placenta and umbilical cord blood as insurance for potential future medical requirements. It also applies to children biologically related to them, whether or not they are related to them through blood.

The exact number of red blood cells, white blood cells, platelets, and plasma are present in cord blood as in regular blood. Hematopoietic stem cells, which are individual blood-forming cells similar to bone marrow, are also prevalent in it, making it distinct. Numerous diseases can be treated with the help of these cells. The rising incidence of cancers, including lymphoma and leukemia, brought on by more extended workdays, stressful lifestyles, and excessive smoking and alcohol consumption is one of the critical factors affecting the market. Additionally, there is a worldwide increase in the use of cord blood banking services to treat immunodeficiency disorders.

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Growing Awareness of Stem Cell's Therapeutic Potential

As more clinical evidence becomes available, the general public's awareness of stem cells' therapeutic potential increases. More than 80 diseases and conditions can be successfully treated with stem cells, including cancer, immune-deficiency diseases, metabolic disorders, and degenerative neuromuscular disorders. Due to the continued rise in per capita disposable income in developing countries and the anticipated decrease in the cost of the products associated with these treatments, it is anticipated that during the study period, public awareness of and adoption of stem cell therapies, as well as stem cell banking services, will rise. The banking of cord blood has rapidly increased due to a rise in pregnant parents' awareness of the practice in the developed countries of the U.S., Europe, and other continents. Customers in underdeveloped areas cannot afford the expensive costs and challenging cord blood banking process. Numerous public and private organizations are starting awareness campaigns in developing countries like Brazil, China, and India.

An Increase in Government Funding with A High Incidence of Genetic Disorders

The primary purpose of cord blood banking services is to treat hereditary illnesses like cancer. The prevalence of various cancers is expected to increase demand for cord blood banking services. Recent years have seen an increase in lymphoma, leukemia, immune disorders, and sarcoma cases in countries like the United States, China, India, and European nations. According to the WHO, there are currently 248,724 fatalities from non-Hodgkin lymphoma and 509,590 new cases. As the number of cancer patients increases, the demand for cord blood banking services increases. Rising government funding is another critical factor driving the cord blood banking market's growth during the anticipated period. Research on cord blood cells received 38 million dollars from the National Institutes of Health.

Report Scope

Report Metric Details
Market Size by 2030 USD 5.37 billion
Market Size in 2021 USD 1.68 billion
CAGR 13.8% (2023-2031)
Historical Data 2020-2021
Base Year 2022
Forecast Period 2023-2031
Forecast Units Value (USD Billion)
Report Coverage Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
Segments Covered By Bank Type, By Application, By Services, By Region
Geographies Covered North America, Europe, Asia-Pacific, LAME and Rest of the World
Key Companies Profiled/Vendors Cordlife Group Limited (Singapore), CBR Systems Inc. (U.S.), Cryo-Cell International Inc (U.S.)., Cryo-Save AG (Netherlands), Lifeforce Cryobanks(U.S.), National Cord Blood Program(U.S.), ViaCord Inc.(U.S.), Virgin Health Bank(U.K).
Key Market Opportunities An Increase in Government Funding with A High Incidence of Genetic Disorders
Key Market Drivers Growing Awareness of Stem Cell's Therapeutic Potential.

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Regional Insights

North America is the most significant contributor to the global cord blood banking services market and is anticipated to grow at a CAGR of 12.92% during the forecast period. It's because more people are becoming aware of the therapeutic uses for cord blood. A growing network of stem cell banking services across North America, ongoing approval of stem cell lines for the treatment of disease (particularly for autoimmune and hematopoietic disorders), recent technological advancements in the field of stem cell collection and preservation techniques, and rising public-private investments in stem cell research are some of the factors driving the growth of the North American stem cell banking market. Governments from several countries heavily invest in research and development (R&D) projects to support clinical trials using cord blood stem cells.

Asia Pacific is expected to grow at a CAGR of 14.6% during the forecast period. Because of the sizable population and growing healthcare system. Due to the rising prevalence of several chronic diseases, including blood cancer, cardiac conditions, and autoimmune diseases, the market is expected to expand in the coming years. Due to the presence of developing nations like China, Japan, India, and Hong Kong, rising healthcare investments and increased investments by international players to maximize geographic reach and thereby expand market share are some of the factors anticipated to propel the Asia Pacific cord blood banking services market. A thriving medical tourism industry is also anticipated to increase demand for CB units in this region.

Key Highlights

  • The global cord blood banking services market size is projected to reach USD 5.37 billion by 2031, growing at a CAGR of 13.8% during the forecast period (2023-2031).
  • Based on bank type, the global cord blood banking services market is bifurcated into private, public, and hybrid. The private segment is the highest contributor to the market and is expected to grow at a CAGR of 13.46% during the forecast period.
  • Based on application, the global cord blood banking services market is bifurcated into cancer, blood disorders, bone marrow failure syndrome, immuno-deficiency disorders, and metabolic disorders. The cancer segment is the highest contributor to the market and is expected to grow at a CAGR of 13.9% during the forecast period.
  • Based on services, the global cord blood banking services market is bifurcated into collection & transportation, processing, analysis, and storage. The collection & transportation segment owns the highest market share and is expected to grow at a CAGR of 13.3% during the forecast period.
  • North America is the most significant contributor to the global cord blood banking services market and is expected to grow at a CAGR of 12.92% during the forecast period.

Competitive Landscape

  1. Cordlife Group Limited (Singapore)
  2. CBR Systems Inc. (U.S.)
  3. Cryo-Cell International Inc (U.S.).
  4. Cryo-Save AG (Netherlands)
  5. Lifeforce Cryobanks(U.S.)
  6. National Cord Blood Program(U.S.)
  7. ViaCord Inc.(U.S.)
  8. Virgin Health Bank(U.K).

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Global Cord Blood Banking Services Market: Segmentation                                       

By Bank Type

  • Software
  • Service

By Applications

  • Cancer
  • Blood Disorders
  • Bone Marrow Failure Syndrome
  • Immuno-deficiency Disorders
  • Metabolic Disorders

By Services

  • Collection & Transportation
  • Processing
  • Analysis
  • Storage

By Regions

  • North America
  • Europe
  • Asia-Pacific
  • LAMEA

TABLE OF CONTENT

  1. EXECUTIVE SUMMARY
  2. RESEARCH SCOPE & SEGMENTATION
    1. Research Objectives
    2. Market Definition
    3. Limitations & Assumptions
    4. Market Scope & Segmentation
    5. Currency & Pricing Considered
  3. MARKET OPPORTUNITY ASSESSMENT
    1. Emerging Regions / Countries
    2. Emerging Companies
    3. Emerging Applications / End Use
    4. Investment Landscape
    5. New Business Models / Revenue Streams
    6. TAM
  4. MARKET TRENDS
    1. Drivers
    2. Market Warning Factors
    3. Latest Macro Economic Indicators
    4. Geopolitical Impact
    5. Human Factors
    6. Technology Factors
  5. MARKET ASSESSMENT
    1. Porters Five Forces Analysis
    2. Value Chain Analysis
    3. Sales And Distribution Channel Analysis
    4. Case Study Analysis
    5. Patent Analysis
    6. M & A Agreements & Collabration Analysis
  6. ESG TRENDS
  7. GLOBAL CORD BLOOD BANKING SERVICES MARKET SIZE ANALYSIS
    1. Global Cord Blood Banking Services Market Introduction
    2. By Bank Type
      1. Introduction
        1. Bank Type By Value
      2. Software
        1. By Value
      3. Service
        1. By Value
    3. By Applications
      1. Introduction
        1. Applications By Value
      2. Cancer
        1. By Value
      3. Blood Disorders
        1. By Value
      4. Bone Marrow Failure Syndrome
        1. By Value
      5. Immuno-Deficiency Disorders
        1. By Value
      6. Metabolic Disorders
        1. By Value
    4. By Services
      1. Introduction
        1. Services By Value
      2. Collection & Transportation
        1. By Value
      3. Processing
        1. By Value
      4. Analysis
        1. By Value
      5. Storage
        1. By Value
  8. NORTH AMERICA MARKET ANALYSIS
    1. Introduction
    2. By Bank Type
      1. Introduction
        1. Bank Type By Value
      2. Software
        1. By Value
      3. Service
        1. By Value
    3. By Applications
      1. Introduction
        1. Applications By Value
      2. Cancer
        1. By Value
      3. Blood Disorders
        1. By Value
      4. Bone Marrow Failure Syndrome
        1. By Value
      5. Immuno-Deficiency Disorders
        1. By Value
      6. Metabolic Disorders
        1. By Value
    4. By Services
      1. Introduction
        1. Services By Value
      2. Collection & Transportation
        1. By Value
      3. Processing
        1. By Value
      4. Analysis
        1. By Value
      5. Storage
        1. By Value
    5. U.S.
      1. By Bank Type
        1. Introduction
          1. Bank Type By Value
        2. Software
          1. By Value
        3. Service
          1. By Value
      2. By Applications
        1. Introduction
          1. Applications By Value
        2. Cancer
          1. By Value
        3. Blood Disorders
          1. By Value
        4. Bone Marrow Failure Syndrome
          1. By Value
        5. Immuno-Deficiency Disorders
          1. By Value
        6. Metabolic Disorders
          1. By Value
      3. By Services
        1. Introduction
          1. Services By Value
        2. Collection & Transportation
          1. By Value
        3. Processing
          1. By Value
        4. Analysis
          1. By Value
        5. Storage
          1. By Value
    6. Canada
  9. EUROPE MARKET ANALYSIS
    1. Introduction
    2. By Bank Type
      1. Introduction
        1. Bank Type By Value
      2. Software
        1. By Value
      3. Service
        1. By Value
    3. By Applications
      1. Introduction
        1. Applications By Value
      2. Cancer
        1. By Value
      3. Blood Disorders
        1. By Value
      4. Bone Marrow Failure Syndrome
        1. By Value
      5. Immuno-Deficiency Disorders
        1. By Value
      6. Metabolic Disorders
        1. By Value
    4. By Services
      1. Introduction
        1. Services By Value
      2. Collection & Transportation
        1. By Value
      3. Processing
        1. By Value
      4. Analysis
        1. By Value
      5. Storage
        1. By Value
    5. U.K.
      1. By Bank Type
        1. Introduction
          1. Bank Type By Value
        2. Software
          1. By Value
        3. Service
          1. By Value
      2. By Applications
        1. Introduction
          1. Applications By Value
        2. Cancer
          1. By Value
        3. Blood Disorders
          1. By Value
        4. Bone Marrow Failure Syndrome
          1. By Value
        5. Immuno-Deficiency Disorders
          1. By Value
        6. Metabolic Disorders
          1. By Value
      3. By Services
        1. Introduction
          1. Services By Value
        2. Collection & Transportation
          1. By Value
        3. Processing
          1. By Value
        4. Analysis
          1. By Value
        5. Storage
          1. By Value
    6. Germany
    7. France
    8. Spain
    9. Italy
    10. Russia
    11. Nordic
    12. Benelux
    13. Rest Of Europe
  10. APAC MARKET ANALYSIS
    1. Introduction
    2. By Bank Type
      1. Introduction
        1. Bank Type By Value
      2. Software
        1. By Value
      3. Service
        1. By Value
    3. By Applications
      1. Introduction
        1. Applications By Value
      2. Cancer
        1. By Value
      3. Blood Disorders
        1. By Value
      4. Bone Marrow Failure Syndrome
        1. By Value
      5. Immuno-Deficiency Disorders
        1. By Value
      6. Metabolic Disorders
        1. By Value
    4. By Services
      1. Introduction
        1. Services By Value
      2. Collection & Transportation
        1. By Value
      3. Processing
        1. By Value
      4. Analysis
        1. By Value
      5. Storage
        1. By Value
    5. China
      1. By Bank Type
        1. Introduction
          1. Bank Type By Value
        2. Software
          1. By Value
        3. Service
          1. By Value
      2. By Applications
        1. Introduction
          1. Applications By Value
        2. Cancer
          1. By Value
        3. Blood Disorders
          1. By Value
        4. Bone Marrow Failure Syndrome
          1. By Value
        5. Immuno-Deficiency Disorders
          1. By Value
        6. Metabolic Disorders
          1. By Value
      3. By Services
        1. Introduction
          1. Services By Value
        2. Collection & Transportation
          1. By Value
        3. Processing
          1. By Value
        4. Analysis
          1. By Value
        5. Storage
          1. By Value
    6. Korea
    7. Japan
    8. India
    9. Australia
    10. Taiwan
    11. South East Asia
    12. Rest Of Asia-Pacific
  11. MIDDLE EAST AND AFRICA MARKET ANALYSIS
    1. Introduction
    2. By Bank Type
      1. Introduction
        1. Bank Type By Value
      2. Software
        1. By Value
      3. Service
        1. By Value
    3. By Applications
      1. Introduction
        1. Applications By Value
      2. Cancer
        1. By Value
      3. Blood Disorders
        1. By Value
      4. Bone Marrow Failure Syndrome
        1. By Value
      5. Immuno-Deficiency Disorders
        1. By Value
      6. Metabolic Disorders
        1. By Value
    4. By Services
      1. Introduction
        1. Services By Value
      2. Collection & Transportation
        1. By Value
      3. Processing
        1. By Value
      4. Analysis
        1. By Value
      5. Storage
        1. By Value
    5. UAE
      1. By Bank Type
        1. Introduction
          1. Bank Type By Value
        2. Software
          1. By Value
        3. Service
          1. By Value
      2. By Applications
        1. Introduction
          1. Applications By Value
        2. Cancer
          1. By Value
        3. Blood Disorders
          1. By Value
        4. Bone Marrow Failure Syndrome
          1. By Value
        5. Immuno-Deficiency Disorders
          1. By Value
        6. Metabolic Disorders
          1. By Value
      3. By Services
        1. Introduction
          1. Services By Value
        2. Collection & Transportation
          1. By Value
        3. Processing
          1. By Value
        4. Analysis
          1. By Value
        5. Storage
          1. By Value
    6. Turkey
    7. Saudi Arabia
    8. South Africa
    9. Egypt
    10. Nigeria
    11. Rest Of MEA
  12. LATAM MARKET ANALYSIS
    1. Introduction
    2. By Bank Type
      1. Introduction
        1. Bank Type By Value
      2. Software
        1. By Value
      3. Service
        1. By Value
    3. By Applications
      1. Introduction
        1. Applications By Value
      2. Cancer
        1. By Value
      3. Blood Disorders
        1. By Value
      4. Bone Marrow Failure Syndrome
        1. By Value
      5. Immuno-Deficiency Disorders
        1. By Value
      6. Metabolic Disorders
        1. By Value
    4. By Services
      1. Introduction
        1. Services By Value
      2. Collection & Transportation
        1. By Value
      3. Processing
        1. By Value
      4. Analysis
        1. By Value
      5. Storage
        1. By Value
    5. Brazil
      1. By Bank Type
        1. Introduction
          1. Bank Type By Value
        2. Software
          1. By Value
        3. Service
          1. By Value
      2. By Applications
        1. Introduction
          1. Applications By Value
        2. Cancer
          1. By Value
        3. Blood Disorders
          1. By Value
        4. Bone Marrow Failure Syndrome
          1. By Value
        5. Immuno-Deficiency Disorders
          1. By Value
        6. Metabolic Disorders
          1. By Value
      3. By Services
        1. Introduction
          1. Services By Value
        2. Collection & Transportation
          1. By Value
        3. Processing
          1. By Value
        4. Analysis
          1. By Value
        5. Storage
          1. By Value
    6. Mexico
    7. Argentina
    8. Chile
    9. Colombia
    10. Rest Of LATAM
  13. COMPETITIVE ASSESSMENT
    1. Adoption Matrix
    2. Cord Blood Banking Services Market Share By Manufacturers
    3. Cord Blood Banking Services Market Ranking By Revenue For Manufacturers
    4. Average Price By Manufacturers
    5. Vendor Footprint Analysis
  14. MARKET PLAYERS ASSESSMENT
    1. Cordlife Group Limited (Singapore)
      1. Overview
      2. Business Information
      3. Revenue
      4. ASP
      5. Gross Margin
      6. Swot Analysis
      7. Recent Developmments
    2. CBR Systems Inc. (U.S.)
    3. Cryo-Cell International Inc (U.S.).
    4. Cryo-Save AG (Netherlands)
    5. Lifeforce Cryobanks(U.S.)
    6. National Cord Blood Program(U.S.)
    7. ViaCord Inc.(U.S.)
    8. Virgin Health Bank(U.K).
  15. RESEARCH METHODOLOGY
    1. Research Data
      1. Secondary Data
        1. Major Secondary Sources
        2. Key Data From Secondary Sources
      2. Primary Data
        1. Key Data From Primary Sources
        2. Breakdown Of Primaries
      3. Secondary And Primary Research
        1. Key Industry Insights
    2. Market Size Estimation
      1. Bottom-Up Approach
      2. Top-Down Approach
      3. Market Projection
    3. Research Assumptions
      1. Assumptions
    4. Limitations
    5. Risk Assessment
  16. APPENDIX
    1. Discussion Guide
    2. Customization Options
    3. Related Reports
  17. DISCLAIMER

Table of Content and Figure @ https://straitsresearch.com/report/cord-blood-banking-services-market/toc

Market News

  • September 2022, Access to Cord Blood Transplants for Patients Can Be Made Better by ExCellThera to discover more about banking cord blood. The main benefit of cord blood transplants over adult sources of stem cells, such as those from bone marrow or peripheral blood, is that they do not require exact HLA matching.
  • In July 2022, Leaders in childhood cancer research are leading the study of cord blood to prevent childhood leukemia, which is currently supported by a five-year grant from the NIH for a project called ReCord.

News Media

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Global Blood Testing Market Grows at a Staggering CAGR of 10.16%

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