Cord Blood Banking Services Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

The global cord blood banking services market size reached US$ 1.7 Billion in 2022. Looking forward, the publisher expects the market to reach US$ 3.1 Billion by 2028, exhibiting a growth rate (CAGR) of 10.8% during 2023-2028.

Cord blood banking is a procedure of collecting and storing life-saving stem cells from the umbilical cord and placenta for future use. It uses hematopoietic stem cells that are present in the cord blood of the baby to develop it into red blood cells (RBCs), white blood cells (WBCs) and platelets. It aids in the treatment of cancer, blood diseases and immune system disorders as cord blood banking is less complicated, painful and risky for the donor compared to the collection of stem cells from bone marrow. As a result, it finds extensive applications in hospitals, research institutes, and specialty clinics.

Cord Blood Banking Services Market Trends:

The growing prevalence of different cancers, such as lymphoma and leukemia, due to longer working hours, stressful lives, and excessive smoking and alcohol consumption represents one of the key factors driving the market. Moreover, there is an increase in the utilization of cord blood banking services for the treatment of immunodeficiency disorders across the globe. This, coupled with the increasing awareness among individuals about the benefits and wide availability of cord blood banking service providers, is propelling the growth of the market. In addition, governments of several countries are extensively investing in research and development (R&D) activities to facilitate clinical trials of cord blood stem cells. In line with this, the growing number of patients with damaged bone marrow worldwide is positively influencing the market. Besides this, the rising diagnostic screening of cord blood in private centers as per guidelines and regulations of regulatory authorities is offering lucrative growth opportunities to industry investors. Additionally, the expanding healthcare industry is strengthening the growth of the market.

Key Market Segmentation:

The publisher provides an analysis of the key trends in each sub-segment of the global cord blood banking services market report, along with forecasts at the global, regional and country level from 2023-2028. The report has categorized the market based on component, storage services and application.

Breakup by Component:

• Cord Blood
• Cord Tissue

Breakup by Storage Services:

• Public Cord Blood Banks
• Private Cord Blood Banks

Breakup by Application:

• Cancer Disease
• Diabetes
• Blood Disease
• Immune Disorders
• Metabolic Disorders
• Others

Breakup by Region:

• North America
• United States
• Canada
• Asia-Pacific
• China
• Japan
• India
• South Korea
• Australia
• Indonesia
• Others
• Europe
• Germany
• France
• United Kingdom
• Italy
• Spain
• Russia
• Others
• Latin America
• Brazil
• Mexico
• Others
• Middle East and Africa

Competitive Landscape:

The competitive landscape of the industry has also been examined along with the profiles of the key players being Alphacord LLC, Americord Registry LLC, ATCC, California Cryobank, Cordlife Group LImited, Cryo-Cell International Inc., Global Cord Blood Corporation, LifeBank, LifeCell International Pvt. Ltd., National Cord Blood Program, Norton Healthcare Inc., Perkinelmer Inc. and StemCyte India Therapeutics Pvt. Ltd.

Key Questions Answered in This Report:

• How has the global cord blood banking services market performed so far and how will it perform in the coming years?
• What has been the impact of COVID-19 on the global cord blood banking services market?
• What are the key regional markets?
• What is the breakup of the market based on the component?
• What is the breakup of the market based on the storage services?
• What is the breakup of the market based on the application?
• What are the various stages in the value chain of the industry?
• What are the key driving factors and challenges in the industry?
• What is the structure of the global cord blood banking services market and who are the key players?
• What is the degree of competition in the industry?