The global cord blood banking services market was valued at $1,258.2million in 2020 and is projected to reach $4,495.8 million by 2030, growing at a CAGR of 13.3% from 2020 to 2030.
Umbilical cord blood is collected from the nursing homes and hospitals post the delivery of a baby. This blood contains a large amount of stem cells, which can be used to treat various diseases. The public cord blood banks are operated by the non-profit organizations with the help of government funding, which are donated by families after the delivery of baby. This donated cord blood is available for multiple applications such as for research purposes and treatment of genetic diseases.
The cord blood banking services market is expected to witness a moderate growth during the forecast period. The key drivers for the market growth are adoption of novel marketing strategies by key players, increase in R&D activities for application of cord blood, and rise in funding for establishment of public cord blood storage banks. However, high cost associated with the processing, difficulty in finding a match in the donor list of public cord blood banks, and legal & ethical issues related to collection of cord blood are expected to hamper this growth. Conversely, advancement in the stem cell therapeutics and presence of untapped potential in the developing and developed regions are expected to provide various opportunities to the cord blood banking services.
The private cord blood banks are privately owned banks where the parents can store the cord blood of newborn for future use such as for treatment of certain chronic diseases. In private banks, charges are incurred for the collection, processing, and storage of cord blood. Thus, the public cord blood banks possess competitive advantages in developed regions such as North America and Europe.
The cord blood banking services market is segmented into storage services and region. By storage services, it is classified into public cord blood banks and private cord blood banks. Private cord blood banks segment dominated the market in 2020. By component, the market is segmented into cord blood and cord tissue. Cord tissue segment generated the highest revenue in 2020. By application, diabetes segment dominated the cord blood banking services market in 2020.
On the basis of region, the cord blood banking services market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. North America is anticipated to have the highest revenue growth, followed by Europe. LAMEA is predicted to grow faster than Asia-Pacific with a CAGR of 13.5% during the forecast period.
The key players that operate in this market include Americord Registry LLC, China Cord Blood Corporation, Covis Group, Cordlife Group Limited, Cryo-Cell International, Inc., Cord for Life, National Cord Blood Program, Cordvida, Perkinelmer Inc., and Life cell international Pvt. Ltd.
Major players such as Covis Group S.a.r.l, Americold Registry LLC and others are adopted the product acquisition to improve their product portfolio to maintain competition in the market. For instance, in November 2020, Covis completed the acquisition of Amag Pharmaceuticals, Inc. and this acquisition aims to improve the therapeutic portfolio and enhancing the capabilities and offerings. Such instances are expected to provide lucrative opportunities to the major players for the growth of the market.
Umbilical cord blood is collected from the nursing homes and hospitals post the delivery of a baby. This blood contains a large amount of stem cells, which can be used to treat various diseases. The public cord blood banks are operated by the non-profit organizations with the help of government funding, which are donated by families after the delivery of baby. This donated cord blood is available for multiple applications such as for research purposes and treatment of genetic diseases.
The cord blood banking services market is expected to witness a moderate growth during the forecast period. The key drivers for the market growth are adoption of novel marketing strategies by key players, increase in R&D activities for application of cord blood, and rise in funding for establishment of public cord blood storage banks. However, high cost associated with the processing, difficulty in finding a match in the donor list of public cord blood banks, and legal & ethical issues related to collection of cord blood are expected to hamper this growth. Conversely, advancement in the stem cell therapeutics and presence of untapped potential in the developing and developed regions are expected to provide various opportunities to the cord blood banking services.
The private cord blood banks are privately owned banks where the parents can store the cord blood of newborn for future use such as for treatment of certain chronic diseases. In private banks, charges are incurred for the collection, processing, and storage of cord blood. Thus, the public cord blood banks possess competitive advantages in developed regions such as North America and Europe.
The cord blood banking services market is segmented into storage services and region. By storage services, it is classified into public cord blood banks and private cord blood banks. Private cord blood banks segment dominated the market in 2020. By component, the market is segmented into cord blood and cord tissue. Cord tissue segment generated the highest revenue in 2020. By application, diabetes segment dominated the cord blood banking services market in 2020.
On the basis of region, the cord blood banking services market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. North America is anticipated to have the highest revenue growth, followed by Europe. LAMEA is predicted to grow faster than Asia-Pacific with a CAGR of 13.5% during the forecast period.
The key players that operate in this market include Americord Registry LLC, China Cord Blood Corporation, Covis Group, Cordlife Group Limited, Cryo-Cell International, Inc., Cord for Life, National Cord Blood Program, Cordvida, Perkinelmer Inc., and Life cell international Pvt. Ltd.
Major players such as Covis Group S.a.r.l, Americold Registry LLC and others are adopted the product acquisition to improve their product portfolio to maintain competition in the market. For instance, in November 2020, Covis completed the acquisition of Amag Pharmaceuticals, Inc. and this acquisition aims to improve the therapeutic portfolio and enhancing the capabilities and offerings. Such instances are expected to provide lucrative opportunities to the major players for the growth of the market.
Key Benefits For Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the cord blood banking services market analysis from 2020 to 2030 to identify the cord blood banking services industry opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the cord blood banking services market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the cord blood banking services industry.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global cord blood banking services market trends, key players, market segments, application areas, and market growth strategies.
Key Market Segments
BY STORAGE SERVICES
- Public Cord Blood Banks
- Private Cord Blood Banks
BY COMPONENT
- Cord Blood
- Cord Tissue
BY APPLICATION
- Cancer Disease
- DIabetes
- Blood Disease
- Immune Disorders
- Metabolic Disorders
- Others
BY REGION
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- Italy
- France
- Spain
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Rest Of Asia Pacific
- LAMEA
- Latin America
- Middle East
- Africa
Key Market Players
- AMAG Pharmaceuticals, Inc.
- Americord Registry LLC
- China Cord Blood Corporation
- Cord Blood America
- Cordlife Group LImited
- cordvida
- Cryo-cell International
- Cryoholdco DE LatinoAMerica
- Esperite N.V.
- Lifeforce Cryobank Science Inc
Table of Contents
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
CHAPTER 4: CORD BLOOD BANKING SERVICES MARKET, BY STORAGE SERVICES
CHAPTER 5: CORD BLOOD BANKING SERVICES MARKET, BY COMPONENT
CHAPTER 6: CORD BLOOD BANKING SERVICES MARKET, BY APPLICATION
CHAPTER 7: CORD BLOOD BANKING SERVICES MARKET, BY REGION
CHAPTER 8: COMPANY LANDSCAPE
CHAPTER 9: COMPANY PROFILES
LIST OF TABLES
LIST OF FIGURES
Executive Summary
The cord blood banking services market size was valued at $1.3 billion in 2020, and is estimated to reach $4.5 billion by 2030, growing at a CAGR of 13.3% from 2021 to 2030.Public cord blood banks are operated by non-profit organizations with the help of government funding, which allows the donation of the newborns’ cord blood. This donation of cord blood is made available for multiple applications due to difficulty in maintaining the viability of stem cells. Cord blood collected in public banks is utilized by patients who need to undergo an urgent transplantation, research institutes, and research-based pharmaceutical companies for development of novel drugs. Private cord blood banks are privately owned banks where the parents can store the cord blood of newborn for personal use, which may be required in the treatment of a family member in the future. Public cord blood banks possess competitive advantages in developed geographies such as North America and Europe. In addition, the public cord blood banking market is anticipated to grow at a rapid pace in developing countries in Asia-Pacific and few African countries. Cord blood banking services market forecast from 2020 to 2030.
Cord blood stem cells banking is a lucrative market in North America and European countries. North America was the highest revenue contributor in 2020, with $400.1 million; however, LAMEA is expected to grow at a CAGR of 16.5%. Cost structure of the stem cell treatment has a major impact on the growth of stem cell application in developed countries. Similarly, stem cells collected from cord blood are used in treatment of rare diseases, including metabolic diseases and immune diseases. The overall cord blood banking services market has shifted its focus from clinical trials to commercialization.
The global cord blood banking services market analysis is segmented into storage services and region. By storage services, it is classified into public cord blood banks and private cord blood banks. Private cord blood banks segment dominated the market in 2020. By component, the market is segmented into cord blood and cord tissue. Cord tissue segment generated the highest revenue in 2020. By application, diabetes segment have the highest cord blood banking services market share in 2020.
On the basis of region, the cord blood banking services market size is analyzed across North America, Europe, Asia-Pacific, and LAMEA. North America is the highest revenue growth, followed by Europe. LAMEA is predicted to grow faster than Asia-Pacific with a CAGR of 13.5% during the forecast period.
The key players that operate in this market include Americord Registry LLC, China Cord Blood Corporation, Covis Group, Cordlife Group Limited, Cryo-Cell International, Inc., Cord for Life, National Cord Blood Program, Cordvida, Perkinelmer Inc., and Lifecell international Pvt. Ltd.
Major players have adopted product launch and acquisition as key developmental strategies to improve the product portfolio of cord blood banking products. For instance, in November 2020, Covis completed the acquisition of Amag Pharmaceuticals, Inc. and this acquisition aims to improve the therapeutic portfolio and enhance the capabilities and offerings. This is projected to improve the product portfolio of the company.
Several manufacturers in the global cord blood banking services market stopped their business activities in 2020 due to lockdowns implemented in developed and developing countries, owing to ban on industrial activities due to the COVID-19 pandemic. This halt in production activities impacted the revenue of the cord blood banking services manufacturing companies. For instance, net sales of China Cord Blood Corporation dropped by 2.5% from April 2020 to March2021. In addition, lack of man power and raw materials affected the supply chain of the global cord blood banking services industry. However, the market is projected to cover from the 1st quarter of 2023, due to reduced restrictions and reopening of the global cord blood banking services industry. Moreover, in 2021, with the availability of vaccine against COVID-19, the market re-opened at full pace with a start of 2022.
KEY FINDINGS OF STUDY
- The report provides an extensive analysis of the current and emerging global cord blood banking services market trends and dynamics.
- By storage services, the private cord blood bank segment dominated the market in terms of revenue in 2020.
- By component, the cord tissue segment dominated the market in terms of revenue in 2020.
- By application, the diabetessegment dominated themarket in terms of revenue in 2020.
- The report provides an extensive analysis of thetrends and emerging opportunities of the market.
- Indepth, the global cord blood banking services market analysis is conducted by constructing estimations for the key segments between 2020 and 2030.
Companies Mentioned
- AMAG Pharmaceuticals, Inc.
- Americord Registry LLC
- China Cord Blood Corporation
- Cord Blood America
- Cordlife Group LImited
- cordvida
- Cryo-cell International
- Cryoholdco DE LatinoAMerica
- Esperite N.V.
- Lifeforce Cryobank Science Inc
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 233 |
| Published | March 2022 |
| Forecast Period | 2020 - 2030 |
| Estimated Market Value ( USD | $ 1289.76 million |
| Forecasted Market Value ( USD | $ 4495.8 million |
| Regions Covered | Global |
| No. of Companies Mentioned | 10 |
