The cord blood banking services global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Cord Blood Banking Services Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The cord blood banking services market size has grown strongly in recent years. It will grow from $25.05 billion in 2023 to $26.71 billion in 2024 at a compound annual growth rate (CAGR) of 6.7%. The growth in the historic period can be attributed to increases in demand for stem cell therapies, increased government initiatives, growing healthcare expenditure, an increase in chronic disease, and increased demand for cord blood cells.
The cord blood banking services market size is expected to see strong growth in the next few years. It will grow to $35.03 billion in 2028 at a compound annual growth rate (CAGR) of 7.0%. The growth in the forecast period can be attributed to increasing incidence of autoimmune diseases, rising prevalence of cancer, rising incidence of hematological disorders, rising commonality of ongoing diseases, and increasing prevalence of genetic disorders. Major trends in the forecast period include technological advancements, development of innovative stem cell therapies, technological advancements in stem cell research, advancement in cord blood processing and storage techniques, and developing innovative therapeutically products.
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Scope Of Cord Blood Banking Services Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Cord Blood Banking Services Market Overview
Market Drivers –
The increasing prevalence of genetic disorders is expected to propel the growth of the cord blood banking services market going forward. Genetic disorders are conditions caused by abnormalities in an individual’s DNA, often due to mutations or changes in gene sequences. The increasing prevalence of genetic disorders is due to advancements in diagnostic technologies that improve detection rates, as well as rising maternal age, which heightens the risk of genetic mutations. Cord blood banking offers a source of stem cells for treating genetic disorders through transplants and potential future gene therapies. For instance, in June 2023, Gene People, a UK-based registered charity organization supporting individuals with genetic conditions, reported that one in every 25 children in the UK had a genetic disorder, affecting approximately 30,000 newborns and young children in the country as well as more than 2.4 million children and adults annually. Therefore, the increasing prevalence of genetic disorders is driving the growth of the cord blood banking services market.
Market Trends –
Major companies operating in the cord blood banking services market are focusing on developing innovative solutions, such as cord blood banking facilities, to enhance stem cells’ viability and therapeutic potential. Cord blood banking facilities refer to specialized centers that provide services related to collecting, processing, and storing umbilical cord blood. For instance, in August 2024, Future Health GCC, the UAE-based Sem Cells bank, launched a cutting-edge cord blood banking facility in Dubai Healthcare City, enabling families to store their newborn’s umbilical cord blood, which is rich in stem cells. This non-invasive collection process occurs immediately after birth and provides a valuable resource for treating various severe health conditions. The facility has advanced technology and meets the highest safety standards, ensuring optimal storage conditions. This method of stem cell collection is advantageous compared to traditional sources, as it is easier to gather and store, providing families with a practical way to safeguard their children’s future health.
The cord blood banking services market 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
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Regional Insights –
North America was the largest region in the cord blood banking services market in 2023. 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.
Key Companies –
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
Table of Contents
1. Executive Summary
2. Cord Blood Banking Services Market Report Structure
3. Cord Blood Banking Services Market Trends And Strategies
4. Cord Blood Banking Services Market – Macro Economic Scenario
5. Cord Blood Banking Services Market Size And Growth
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27. Cord Blood Banking Services Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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