Cord Blood Banking Services Market Size, Share & Trends Analysis Report By Bank Type (Software, Service), By Applications (Cancer, Blood Disorders, Bone Marrow Failure Syndrome, Immuno-deficiency Disorders, Metabolic Disorders), By COMPONENT (Cord Blood, Cord Tissue), By Services (Collection & Transportation, Processing, Analysis, Storage) and By Region(North America, Europe, APAC, Middle East and Africa, LATAM) Forecasts, 2023-2031

Market Overview

The global cord blood banking services market size was valued at USD 1.68 billion in 2022. It is projected to reach USD 5.37 billion by 2031, growing at a CAGR of 13.8% during the forecast period (2023–2031).

Hematopoietic stem cells, which are individual cells found in cord blood, can be used to treat various invasive diseases. More than 70 diseases, including those affecting the immune system, genetic disorders, neurological conditions, and some types of cancer, can be treated using cord blood. For a child's and a family's future health, cord blood banking is crucial. Parents who want to store their baby's placenta and umbilical cord blood as insurance to help with future medical needs can use cord blood banking services. It can also be applied to other biologically related kids, whether they are members of their own family or not.

Red blood cells, white blood cells, platelets, and plasma are all in cord blood in the exact quantities as in regular blood. It is unique because it is also abundant in hematopoietic stem cells, which are individual blood-forming cells similar to bone marrow. These cells can aid in the treatment of numerous diseases. One of the main factors influencing the market is the rising incidence of various cancers, such as lymphoma and leukemia, brought on by more extended workdays, stressful lifestyles, and excessive smoking and alcohol consumption. Additionally, the use of cord blood banking services for treating immunodeficiency disorders is growing globally.

Market Dynamics

What are the key factors driving industry growth?

Growing awareness of stem cell's therapeutic potential

Global public awareness of the therapeutic potential of stem cells is growing as more clinical evidence is available. Furthermore, stem cells effectively treat more than 80 diseases and conditions, such as cancer, immunodeficiency diseases, metabolic disorders, and degenerative neuromuscular disorders. During the study period, it is anticipated that public awareness and the adoption of stem cell therapies, as well as stem cell banking services, will increase due to the continued rise in per capita disposable income in developing countries and an anticipated reduction in the costs of the products associated with these treatments. The banking of cord blood has rapidly expanded in the developed nations of the U.S., Europe, and other continents due to a rise in pregnant parents' awareness of the practice. Customers in developing regions cannot afford the high prices and complicated cord blood banking procedure. Numerous public and private organizations are starting awareness campaigns in developing nations like Brazil, China, and India.

Growth in hematological disorders chronic diseases

The government providing funds and investments for public storage, an increase in fatal chronic disease incidences, an increase in research activities for the development of various applications of cord blood, and an increase in public awareness of the prevalence of advanced therapeutics are just a few of the factors that drive the growth of the cord blood and cell banking market in the forecast period. The hematological disorder is connected to blood and the organs that produce blood. These illnesses are becoming increasingly common, including thalassemia, sickle cell anemia, leukemia, lymphoma, hemophilia, and others. The world's leukemia cases are increasing dramatically, driving the need for cord blood cells.

What are the main obstacles to the market expansion for cord blood banking services?

Stringent rules & regulations and high cost

Although it has been established that taking cord blood is painless and safe for both mother and child, the cost of private banking can be a significant barrier to using this service, particularly in developing and undeveloped nations. Testing for infectious diseases, typing, and contamination are some of these charged services. Another significant obstacle to expanding this business is the strict rules and regulations governing services for cord blood banking. Additionally, it is anticipated that increasingly strict and mandatory regulatory requirements for stem cell preservation and banking—along with the lengthy licensing/approval process for establishing stem cell banks in developed countries—will add to the overall operational costs for stem cell banking service providers.

What are the future opportunities for cord blood banking services?

An increase in government funding with a high incidence of genetic disorders

Services for cord blood banking are primarily utilized to cure hereditary diseases like cancer and others. The market for cord blood banking services is projected to expand due to the high frequency of various cancers. Lymphoma, leukemia, immune disorders, and sarcoma cases have increased in recent years in nations like the United States, China, India, and European nations. The World Health Organization reports approximately 509,590 new cases of non-Hodgkin lymphoma and 248,724 deaths resulting from this disease. The demand for cord blood banking services is rising as cancer patients rise. Another critical factor propelling the growth of the coed blood banking market during the anticipated period is rising government funding. The National Institutes of Health invested thirty-eight million dollars in cord blood cell research.

Regional Analysis

The global cord blood banking services market is bifurcated into four regions: North America, Europe, Asia-Pacific, and LAMEA.

North america dominates the global market.

North America is the most significant shareholder in the global cord blood banking services market and is expected to grow at a CAGR of 12.92% during the forecast period. The U.S. and Canada are included in the analysis of the cord blood banking services market in North America. Because therapeutic applications have advanced, people are becoming more aware of the advantages of banking cord blood and cells. It is because more people are becoming aware of beneficial cord blood treatments. The North American stem cell banking market is expanding as a result of factors including an expanding network of stem cell banking services throughout the region, ongoing approval of stem cell lines for disease treatment (particularly for hematopoietic and autoimmune disorders), recent technological advancements in the field of stem cell collection and preservation techniques, and rising public-private investments for stem cell research. Governments from several nations are heavily funding research and development (R&D) initiatives to support cord blood stem cell clinical trials.

Asia Pacific is expected to grow at a CAGR of 14.6% during the forecast period. China, India, Japan, Australia, and the rest of Asia-Pacific are all included in the analysis of the Asia-Pacific cord blood banking services market. Due to the vast population base and expanding healthcare infrastructure. The market is anticipated to grow in the upcoming years due to the rising prevalence of several chronic diseases, such as blood cancer, cardiac conditions, and several autoimmune diseases. Because developing nations like China, Japan, India, and Hong Kong are present, some of the factors anticipated to drive the Asia Pacific cord blood banking services market include rising healthcare investments and increased investments by international players to maximize geographic reach and thereby expand market share. Additionally, a thriving medical tourism sector is anticipated to boost demand for CB units in this area.

Segmental Analysis

The market is segmented by bank type, application, and services.

Based on bank type, the global market is bifurcated into private, public, and hybrid.

The private segment is the highest contributor to the market and is expected to grow at a CAGR of 13.46% during the forecast period. It is because parents are charged a high price for the collection and storage of CB units. Furthermore, private players' customer bases are growing compared to public banks due to their marketing strategies. When all the elements above were considered, the private banking service segment dominated the global market. Some critical elements anticipated to drive the growth of the public banks shortly include greater chances of finding a compatible match for the patient's blood and the risk of the blood unit stored in private banks not being usable.

Based on application, the global market is bifurcated into cancer, blood disorders, bone marrow failure syndrome, immuno-deficiency disorders, and metabolic disorders.

The cancer segment is the highest contributor to the market and is expected to grow at a CAGR of 13.9% during the forecast period. Cord blood stem cell transplants have been used to treat adult and pediatric cancer. Over 35,000 cord blood transplants have taken place globally, most of which were performed to treat leukemia and other blood abnormalities. The crucial qualification is that donors, NOT the child's cord blood, must be used for cord blood transplants in children with leukemia or other blood disorders. Visit Parent's Guide to Cord Blood Foundation at to learn more about cord blood banking.

Based on services, the global market is bifurcated into collection & transportation, processing, analysis, and storage.

The collection & transportation segment is the highest contributor to the market and is expected to grow at a CAGR of 13.3% during the forecast period. Obstetrician-gynecologist (ob-gyn) or the professionals at the hospital where you give birth will collect the cord blood. The umbilical cord is severed and clamped after delivery. With a needle with a bag attached, blood is extracted from the cord. It takes about 10 minutes to complete. Not all medical centers provide this service. Some impose an additional charge that might or might not be covered by insurance.

Recent Developments

• September 2022, Access to Cord Blood Transplants for Patients Can Be Made Better by ExCellThera to discover more about banking cord blood. The main benefit of cord blood transplants over adult sources of stem cells, such as those from bone marrow or peripheral blood, is that they do not require exact HLA matching.

• July 2022, Leaders in childhood cancer research are leading the study of cord blood to prevent childhood leukemia, which is currently supported by a five-year grant from the NIH for a project called ReCord.