Cord Blood Banking Services Market Research Report Information by Storage Service (public cord blood banks, private cord blood banks, and hybrid cord blood banks), by Component (Cord blood and cord tissue), by Application (cancer, blood disorders, metabolic disorders, immune disorders, and others), by End User (hospitals, pharmaceutical research, and research institutes), and By Region (North America, Europe, Asia-Pacific, And Rest Of The World) - Forecast Till 2032

Global Cord Blood Banking Services Market Overview

Cord Blood Banking Services Market Size was valued at USD 1.41 billion in 2023 and is projected to grow from USD 1.60 billion in 2024 to USD 4.51 billion by 2032, exhibiting a compound annual growth rate (CAGR) of 13.85% during the forecast period (2024 - 2032).

Increasing incidence of autoimmune diseases and rising awareness associated with therapeutic potential of stem cells are boosting the market growth.

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

The FDA received the BLA (Biologics License Application) for the "HPC-Cord Blood" product in 2022, and on March 8th of that year, StemCyte received formal notification that the application was approved to proceed with the biologics license quality review process. "HPC-Cord Blood" is a hematopoietic stem cell product derived from umbilical cord blood that is meant to be used in unrelated donor hematopoietic progenitor cell transplantation procedures along with a suitable preparative regimen for hematopoietic and immunologic reconstitution in patients with hematopoietic system disorders.

New York Blood Center, Inc. (NYBC) contributed $50 million to NYBC Ventures' first fund, which was announced in 2023 with the goal of accelerating innovation in blood-related sectors, cellular therapies, and enabling technology. An early-stage life sciences investment fund, NYBC Ventures will concentrate on funding novel technology, devices, and treatments that tackle the most urgent problems in infectious disease, transfusion medicine, and benign hematology. In order to increase NYBC's influence, the Fund also aims to enhance patients' lives through the development of therapies, enabling platforms and technologies, and strategic partnerships.

Cord Blood Banking Services Market Trends

Increasing awareness regarding tremendous therapeutic potential of stem cells boosts market growth.

The increasing awareness regarding the tremendous therapeutic potential of stem cells is spurring the growth of the market. Currently, the use of stem cells is rising in numerous diseases, such as chronic diseases and traumatic injuries, owing to irreparable damage. The irreparable damage can be at the end of the fingertip, where stem cells have the ability to regenerate the damaged tissues. Moreover, diseases such as liver failure or diabetes show high prevalence worldwide, which is driving the market's growth. For instance, as per the Diabetes Atlas 2021, there were 537 million adults living with diabetes, and it was predicted to reach 783 million by 2045.

Additionally, increasing strategic alliances to expand and offer cord blood banking services are driving the market's growth. For instance, in August 2021, Cryo-Cell International, Inc. (US) acquired its institute for cellular therapies to provide access to US Food and Drug Administration (FDA)-approved clinical trial programmes to treat patients in need of cord blood cellular therapies. It provides treatment for diseases such as cerebral palsy, autism spectrum disorders, and hypoxic brain injuries. Hence, the increasing number of patients seeking treatment is growing, which is pressuring market players to form strategic initiatives that fuel market growth.

Cord Blood Banking Services Market Segment Insights:

Cord Blood Banking Services Storage Service Insights

The Cord Blood Banking Services Market segmentation, based on public cord blood banks, private cord blood banks, and hybrid cord blood banks. The private cord blood banks segment is expected to register the highest CAGR from 2024 to 2032. This is due to an increase in chronic disease occurrences, the rising expansion of private cord blood banks, and the implementation of marketing strategies to promote the services and their benefits, all of which are driving the segment growth.

Cord Blood Banking Services Component Insights

Based on components, the global market segmentation for cord blood banking services includes cord blood and cord tissue. The cord blood segment is expected to be the largest market in 2023, owing to an increase in chronic disease incidences, expanding regenerative medical treatments, and a growing number of cord blood providers, all of which fuel segment growth. Cord blood is an important transplantation alternative to bone marrow because it contains all of the natural elements of blood and is rich in blood-forming stem cells.

Cord Blood Banking Services Application Insights

The market of Cord Blood Banking Services data has been segmented by application into cancer, blood disorders, metabolic disorders, immune disorders, others. The cancer segment dominated the market in 2023 and is projected to be the faster-growing segment during the forecast period, 2024-2032. As per the World Cancer Research Fund International, there were 18.1 million cancer cases worldwide in 2020. Hence, the rising prevalence of cancer across the globe propelling cancer segment growth.

Figure 2: Cord Blood Banking Services Market, by Application, 2022 & 2032 (USD Billion)

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Cord Blood Banking Services End User Insights

Based on end user, the global cord blood banking services industry has been segmented into hospitals, pharmaceutical research, and research institutes. The hospitals segment dominated the market in 2023, and is projected to be the fastest-growing segment during the forecast period. Hospital segment is the major end user owing to rising prevalence of diabetes, cancer, and neurological condition worldwide. In addition, increasing awareness associated with tremendous application among physician and growing disposable income is propelling market growth.

August 2020: CBR Systems, Inc. (US) collaborated with NantKwest (US) to develop a COVID-19 treatment leveraging newborn stem cells. NantKwest received research-donated umbilical cord tissue-derived mesenchymal stem cells (MSCs) from CBR for efficient and robust expansion using NantKwest's proprietary modular system.

Cord Blood Banking Services Regional Insights

By Region, the study segments the market into North America, Europe, Asia-Pacific, and Rest of the World. North America cord blood banking services market accounted for the largest market share due to the availability of well-developed healthcare infrastructure, growing healthcare expenditure and rising awareness associated with available services.

Further, the major countries studied are: The US, Canada, Germany, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.

Figure 3: Cord Blood Banking Services Market Share by Region 2022 (%)

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Europe cord blood banking services market accounts for the second-largest market share due to the increased burden of chronic diseases such as cancer and diabetes as well as presence of large cord blood banks are driving the region’s market growth. For instance, in December 2022, Famicord Group (Italy), announced that it has stored 600,000 samples supplied stem cells for treatment of around 3450 patients in more than 35 countries. Furthermore, the Germany market of cord blood banking services the largest market share, and the UK market of cord blood banking services was the fastest growing market in the Europe region.

The Asia-Pacific market of cord blood banking services is expected to grow at a significant share from 2024 to 2032. This is due to increasing awareness of storing stem cells and advanced healthcare reforms across the region. In recent years, Malaysia, India, Indonesia, and China have demonstrated better opportunities for the market growth of the cord blood banking services. The endeavor of placing notice boards and charts in several hospitals and health care centres in these countries has increased awareness of the subject. Moreover, China market of cord blood banking services held the largest market share, and the India market of Cord blood banking services was the fastest growing market in the Asia-Pacific region.

Cord Blood Banking Services Key Market Players & Competitive Insights

Major market players are spending a lot of money on R&D to increase their product lines, which will help to market growth of cord blood banking services even more. Market participants are also taking a range of strategic initiatives to grow their worldwide footprint, including new product launches, contractual agreements, mergers and acquisitions, increased investments, and collaboration with other organizations. Competitors in the cord blood banking services industry must offer cost-effective items to expand and survive in an increasingly competitive and rising market environment.

Americord Registry LLC (US) specializes in the banking of umbilical cord blood, cord tissue, and placenta stem cells. In February 2022, the company announced the opening of R&D facilities and a cell processing unit in New York, US, to provide solutions to families facing clinical needs.

Additionally, CordVida (Brazil) is a leading national stem cell bank in Brazil, with the most transplants and the highest average cell count of stored units among private cord blood banks in the country. In April 2021, the company acquired CryoHoldco (Mexico) to consolidate the laboratory operations in Sau Paulo for all CordVida companies in Brazil.

Key Companies in the cord blood banking services market includes.

• Americord Registry LLC. (US)


• CordVida (Brazil)


• Cryo-cell International, Inc. (US)


• Norton Healthcare, Inc. (US)


• ViaCord, Inc. (US)


• Cordlife Group Limited (Singapore)


• CBR Systems, Inc. (US)


• Virgin Health Bank (UK)


• Lifeforce Cryobanks (US)


• StemCyte, Inc. (India), among others

Cord Blood Banking Services Industry Developments

September 2019: CBR Systems, Inc. (US) acquired Natera, Inc.'s cord blood and tissue banking business. The main focus of this acquisition is the genetic testing business in reproductive health, oncology, and organ transplantation.

July 2019: Americord Registry, LLC (US) launched the stem cell banking product "Placental Tissue 2.0," which allows families to store two types of valuable stem cells: mesenchymal stem cells and amniotic epithelial cells.

Cord Blood Banking Services Market Segmentation:

Cord Blood Banking Services Storage Service Outlook

• Public Cord Blood Banks


• Private Cord Blood Banks


• Hybrid Cord Blood Banks

Cord Blood Banking Services Component Outlook

• Cord Blood


• Cord Tissue

Cord Blood Banking Services Application Outlook

• Cancer


• Blood Disorders


• Metabolic Disorders


• Immune Disorders


• Others

Cord Blood Banking Services End User Outlook

• Hospitals


• Pharmaceutical Research


• Research Institutes

Cord Blood Banking Services Regional Outlook

• North America
  
  
  
  • US
  
  
  • Canada
  
  
  
  


• Europe
  
  
  
  • Germany
  
  
  • France
  
  
  • UK
  
  
  • Italy
  
  
  • Spain
  
  
  • Rest of Europe
  
  
  
  


• Asia-Pacific
  
  
  
  • China
  
  
  • Japan
  
  
  • India
  
  
  • South Korea
  
  
  • Australia
  
  
  • Rest of Asia-Pacific
  
  
  
  


• Rest of the World
  
  
  
  • Middle East
  
  
  • Africa
  
  
  • Latin America