Dublin, Oct. 08, 2024 (GLOBE NEWSWIRE) -- The "Global Stem Cell Umbilical Cord Blood Market by Storage Services, by Therapeutics, by Application, by End-user, and by Region" report has been added to ResearchAndMarkets.com's offering.
The global stem cell umbilical cord blood market accounted for USD 5.85 billion in 2023 and is expected to reach at USD 32.68 billion by 2034 with a CAGR of 16.93% during the forecast period 2024-2034. The growing prevalence of chronic diseases, expanding treatment options and research, growing government support and funding, growing technological advancements in cord blood banking, growing public awareness of stem cell potential, and an emphasis on personalized medicine will all contribute to the market's expansion. 
A greater awareness of the therapeutic potential of stem cells produced from umbilical cord blood is emerging among the general population as a result of increased media coverage and scientific developments. Umbilical cord blood stem cells are showing promise in treating a range of illnesses, including immunological deficiencies, malignancies, and blood disorders. These benefits are being observed in ongoing clinical trials and research. Developments in cryopreservation methods are making it possible to store umbilical cord blood stem cells for extended periods of time in a safer environment. For instance, StemCyte and NantKwest announced a collaboration in February 2022 to create natural killer (NK) cell therapy that may be purchased off-the-shelf using umbilical cord blood.
By storage services, the private cord blood banks segment accounted for the highest revenue-grossing segment in the global stem cell umbilical cord blood market in 2023 owing to the increasing demand for personalized medicine and the rising awareness about the benefits of cord blood banking among parents. For instance, Cryo-Cell International and Provia Laboratories, LLC announced in January 2022 that they would be offering menstrual stem cell banking services under the C'elle brand. Additionally, the hybrid cord blood banks segment is predicted to grow at the fastest CAGR during the forecast period owing to the combined benefits of both private and public banking options, offering greater flexibility and accessibility for donors.
By therapeutics, the cancer segment accounted for the highest revenue-grossing segment in the global stem cell umbilical cord blood market in 2023 owing to the increasing incidence of cancer and the effectiveness of stem cell treatments in oncology. For instance, in January 2022, Fetomed Laboratories, a top diagnostic business that specializes in prenatal screening, was acquired by LifeCell International. Additionally, the blood diseases segment is predicted to grow at the fastest CAGR during the forecast period owing to the rising prevalence of hematological disorders and advancements in stem cell therapies for these conditions.
By application, the transplant medicine segment accounted for the highest revenue-grossing segment in the global stem cell umbilical cord blood market in 2023 owing to the increasing success rates and widespread adoption of stem cell transplants for various medical conditions. For instance, Celularity reported in February 2022 that patient dosing has begun in their Phase 1/2 clinical study of CYNK-001 for the treatment of acute myeloid leukemia (AML). Additionally, the regenerative medicine segment is predicted to grow at the fastest CAGR during the forecast period owing to the rising advancements in regenerative therapies and increasing demand for innovative treatments for chronic diseases.
By end-user, the hospitals & clinics segment accounted for the highest revenue-grossing segment in the global stem cell umbilical cord blood market in 2023 owing to the high volume of stem cell transplants and treatments performed in these healthcare settings. For instance, Vita 34 AG released its fiscal year 2021 financial figures in February 2022, indicating a notable increase in sales and client base. Additionally, the research institutes & biotech company segment is predicted to grow at the fastest CAGR during the forecast period owing to the increasing investment in stem cell research and development of innovative therapies.
North America is anticipated to have the highest revenue share during the forecast period owing to the advanced healthcare infrastructure, high awareness, and substantial investments in stem cell research and therapies. Additionally, the Asia Pacific region is predicted to grow at the fastest CAGR during the forecast period owing to the improving healthcare infrastructure, increasing healthcare expenditure, and rising awareness about stem cell therapies. For instance, Maze Cord Blood Laboratories stated in February 2023 that it was expanding its stem cell processing and storage facilities in response to the increasing demand for cord blood banking services.
This extensive research report concentrates on the size and projections of the global and regional markets from 2023 to 2034.
Report Scope:
- Base Year: 2023
- Forecast Period: 2024-2034
- Study Coverage
- Market Forecast by Storage Services, Therapeutics, Application, and End-User
- Market Forecast for 5 Regions and 17+ Countries
- North America (U.S. and Canada)
- Europe (Germany, France, UK, Spain, Italy, Russia, Rest of Europe)
- Asia Pacific (China, Japan, India, Australia, South Korea, Rest of APAC)
- Latin America (Brazil, Mexico, Argentina, Rest of LATAM)
- MEA (South Africa, GCC, Rest of MEA)
- Company Profiles of the Top 10+ Major Market Players
Market Dynamics
Drivers Analysis
- Increasing Incidence of Chronic Diseases
- Advancements in Stem Cell Research
- Growing Popularity of Personalized Medicine
- Expansion of Cord Blood Banking Services
Restraints Analysis
- High Cost of Collection and Storage
- Lack of Awareness and Education
- Competition from Alternative Therapies
Opportunities Analysis
- Emerging Markets
- Development of New Therapies
- Technological Innovations
Threats Analysis
- Stringent Regulations,
- Competition from Alternative Treatments
- Healthcare Accessibility Issues
Trend Analysis
- Increased Investment in Research and Development
- Growth of Public Cord Blood Banks
- Adoption of Blockchain Technology
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 200 |
| Forecast Period | 2023 - 2034 |
| Estimated Market Value (USD) in 2023 | $5.85 Billion |
| Forecasted Market Value (USD) by 2034 | $32.68 Billion |
| Compound Annual Growth Rate | 16.9% |
| Regions Covered | Global |
Report Scope
Stem Cell Umbilical Cord Blood Market Analysis & Forecast by Storage Services 2023 - 2034 (Revenue USD Bn)
- Public Cord Blood Banks
- Private Cord Blood Banks
- Hybrid Cord Blood Banks
Stem Cell Umbilical Cord Blood Market Analysis & Forecast by Therapeutics 2023 - 2034 (Revenue USD Bn)
- Cancer
- Diabetes
- Blood diseases
- Immune Disorders
- Metabolic Disorders
- Others
Stem Cell Umbilical Cord Blood Market Analysis & Forecast by Application 2023 - 2034 (Revenue USD Bn)
- Transplant Medicine
- Regenerative Medicine
Stem Cell Umbilical Cord Blood Market Analysis & Forecast by End-User 2023 - 2034 (Revenue USD Bn)
- Hospitals & Clinics
- Research Institutes & Biotech Companies
- Stem Cell Banks
Companies Profiled
- Cryo-Cell International
- CBR Systems
- Cordlife
- ViaCord
- CryoHoldco
- Americord Registry
- Cord Blood Registry
- LifeCell International
- StemCyte
- Global Cord Blood Corporation
- Virgin Health Bank
- Maze Cord Blood Laboratories
- Celularity
- Cryo-Save
- Vita 34
For more information about this report visit https://www.researchandmarkets.com/r/4tgpeg
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