What Has Been the Growth of the Cord Blood Banking Services Market So Far?
The cord blood banking services market has seen considerable growth due to a variety of factors.
• The market size for cord blood banking services has been experiencing robust growth in recent years. Its value is projected to rise from $26.71 billion in 2024 to $28.66 billion in 2025, delivering a compound annual growth rate (CAGR) of 7.3%.
Factors contributing to this surge during the historic period include a heightened demand for stem cell treatments, government policies encouraging this field, an escalation in healthcare spending, a rise in chronic illnesses, and a growing need for cord blood cells.
What Are the Future Growth Projections for the Cord Blood Banking Services Market?
The cord blood banking services market is expected to maintain its strong growth trajectory in upcoming years.
• The market size for cord blood banking services is anticipated to experience substantial growth in the coming years, expanding to $37.41 billion in 2029 with a compound annual growth rate (CAGR) of 6.9%.
The projected growth in this period is due to the escalating incidences of autoimmune diseases, increasing cancer rates, surging occurrences of hematological conditions, growing frequency of chronic diseases, and a rise in genetic disorders. Key trends expected to emerge within the forecast period encompass technological innovations, the emergence of advanced stem cell therapies, advancements in stem cell research, improvement in cord blood processing and storage methods, and the creation of novel therapeutic products.
What Are The Core Factors Supporting Growth In The Cord Blood Banking Services Market?
The escalating occurrence of genetic diseases is anticipated to fuel the cord blood banking services market's expansion in the future. Genetic diseases are driven by irregularities within an individual's DNA, frequently due to mutations or variations in gene sequences. The escalating occurrence of these disorders can be attributed to advanced diagnostic technologies, leading to better detection rates, and a rise in maternal age, which escalates the chance of genetic anomalies. Cord blood banking provides a reservoir of stem cells for treating genetic diseases through transplants and potential upcoming gene therapies. In June 2023, for example, Gene People, a registered charity in the UK assisting individuals with genetic conditions, stated that one in every 25 children in the UK suffers from a genetic disorder. This affects approximately 30,000 infants and young kids, as well as over 2.4 million children and adults annually in the country. Consequently, the escalating occurrence of genetic diseases is propelling the expansion of the cord blood banking services market.
What Are The Major Segments Within The Global Cord Blood Banking Services Market?
The cord blood banking servicesmarket covered in this report is segmented –
1) By Component: Cord Blood, Cord Tissue
2) By Service: Collection And Transportation, Processing, Analysis, Storage
3) By Application: Cancer, Blood Disorders, Metabolic Disorders, Immune Disorders, Other Applications
4) By End User: Hospitals, Pharmaceutical Research, Research Institutes
Subsegments:
1) By Cord Blood: Private Cord Blood Banking, Public Cord Blood Banking
1) By Cord Tissue: Private Cord Tissue Banking, Public Cord Tissue Banking
Pre-Book The Cord Blood Banking Services Global Market Report 2025 Report For Swift Delivery And Comprehensive Insights:
Which Emerging Market Trends Are Altering The Cord Blood Banking Services Industry?
Major firms in the sector of cord blood banking services are concentrating on creating unique solutions such as specialized facilities for cord blood banking. These innovations enhance the recovery and healing potential of stem cells. These facilities offer services including collection, processing, and storage of umbilical cord blood. A prime example of this is Future Health GCC, a UAE-based Sem Cells bank, which inaugurated a state-of-the-art cord blood banking facility in Dubai Healthcare City in August 2024. The facility empowers families to conserve their newborn's umbilical cord blood, a stem cell-rich source. The blood is collected non-invasively following birth and serves as a crucial asset for managing several serious health problems. The cutting-edge facility ensures the highest safety standards and optimal storage conditions. This collection technique is more favourable than traditional methods as it facilitates easier gathering and storage, thus offering families a feasible option to secure their children’s future health.
Who Are the Key Players In The Cord Blood Banking Services Market?
Major companies operating in the cord blood banking services market are:
• PerkinElmer Inc.
• AMAG Pharmaceuticals Inc.
• China Cord Blood Corporation
• LifeCell International Pvt. Ltd.
• Global Cord Blood Corporation
• Vita 34 AG
• Cordlife Group Limited
• LifeBank
• Cryo-Cell International
• CryoSave SA
• ViaCord Inc.
• Future Health Biobank
• Virgin Health Bank
• FamiCord Group
• Maze Cord Blood Laboratories
• Biovault Family
• Cells4Life Group LLP
• Americord Registry LLC
• Angiocrine Bioscience Inc.
• California Cryobank Stem Cell Services LLC
• Singapore Cord Blood Bank
• StemCyte Inc.
• AlphaCord LLC
What Is The Most Dominant Region In The Cord Blood Banking Services Market?
North America was the largest region in the cord blood banking services market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the cord blood banking services market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
