How has the cord blood banking services market evolved, and where is it heading next?
The cord blood banking services market size has grown strongly in recent years. It will grow from $26.71 billion in 2024 to $28.66 billion in 2025 at a compound annual growth rate (CAGR) of 7.3%. 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 $37.41 billion in 2029 at a compound annual growth rate (CAGR) of 6.9%. 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 therapeutical products.
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What are the key drivers behind the rapid expansion of the cord blood banking services market?
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.
What is the segmentation for the 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
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Who are the most influential companies 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 are the most influential trends expected to drive the cord blood banking services market forward?
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.
What are the major regional insights for the cord blood banking services market, and which region holds the top position?
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.
What Does The Cord Blood Banking Services Market Report 2025 Offer?
The cord blood banking services market research report from The Business Research Company offers global market size, growth rate, regional shares, competitor analysis, detailed segments, trends, and opportunities.
Cord blood banking services refer to the process of collecting, storing, and preserving the blood from the umbilical cord and placenta after a baby is born. This blood is rich in stem cells, which have the potential to treat a variety of medical conditions. Cord blood banking provides families with a valuable resource that can be used for medical treatments in the future, offering peace of mind and life-saving options.
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