Cord Blood Banking Services Market (By Storage Services: Public Cord Blood Banks, Private Cord Blood Banks; By Component: Cord Blood, Cord Tissue; By Application: Cancer Disease, Diabetes, Blood Disease, Immune Disorders, Metabolic Disorders, Others) - Global Industry Analysis, Size, Share, Growth, Trends, Regional Outlook, and Forecast 2024-2033


Cord Blood Banking Services Market Size and Growth 2024 to 2033

The global cord blood banking services market size was valued at USD 33.85 billion in 2023 and is anticipated to reach around USD 61.31 billion by 2033, growing at a CAGR of 6.12% from 2024 to 2033. The simplicity and safety of cord blood for harvesting stem cells are growing the demand for cord blood banking services in the market.

Cord Blood Banking Services Market Size 2024 to 2033

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Cord Blood Banking Services Market Key Takeaways

  • The North America cord blood banking services market size accounted for USD 14.89 billion in 2023 and is expected to attain around USD 26.98 billion by 2033.
  • North America dominated the market with the largest revenue share of 44% in 2023.
  • Asia Pacific is expected to grow at the highest CAGR during the forecast period.
  • By storage services, the private cord blood banks segment has held the major revenue share of 57% in 2023.
  • By storage services, the public cord blood banks segment is expected to grow rapidly during the forecast period.
  • By component, the cord tissue segment dominated the market in 2023.
  • By component, the cord blood segment is expected to grow rapidly in the market during the forecast period.
  • By application, the diabetes segment will dominate the market in 2023.
  • By application, the cancer disease segment is expected to grow at a significant CAGR during the forecast period.

Cord Blood Banking Services Market Size in the U.S. 2024 to 2033

The U.S. cord blood banking services market size was estimated at USD 11.17 billion in 2023 and is predicted to be worth around USD 20.37 billion by 2033 at a CAGR of 6.19% from 2024 to 2033.

U.S. Cord Blood Banking Services Market Size 2024 to 2033

North America dominated the cord blood banking services market by region, in 2023. There is a strong healthcare system in the area, and expectant parents are well-informed about the advantages of cord blood banking. North America is also home to a number of top research institutes, biotechnology firms, and cord blood banks, all of which contribute to the market's expansion. The North American cord blood banking market is mostly driven by sophisticated technology, regulatory backing, and a high birth rate.

  • In the United States, our donors' registry is called Be The Match. Patients who have a rare genetic type are more likely to receive cord blood transplants. In order for parents to donate cord blood to a public bank, their baby must be born at a hospital that accepts donations. Public cord blood banking is highly recommended by both the American Academy of Pediatrics (AAP) and the American Medical Association (AMA).

Cord Blood Banking Services Market Share, By Region, 2023 (%)

Asia Pacific is expected to grow to the highest CAGR in the cord blood banking services market by region during the forecast period. Because of the region's high birth rate and large population, there is a considerable need for cord blood banking services. The market expansion in the area is also being driven by growing awareness of the potential advantages of using cord blood stem cells to treat a range of illnesses and ailments.

  • In Japan, there are 11 public cord blood banks, which form a network by communicating with each other and exchanging information. Comprehensive clinical summaries of UCB transplantation demonstrate that it is as effective as bone marrow transplantation and without serious adverse events.

Cord Blood Banking Services Market Size in Asia Pacific 2023 to 2033

The Asia Pacific cord blood banking services market size was calculated at USD 7.11 billion in 2023 and is projected to expand around USD 13.18 billion by 2033, poised to grow at a CAGR of 6.36% from 2024 to 2033.

Year Market Size (USD Billion)
2023 7.11
2024 7.54
2025 8.01
2026 8.49
2027 9.02
2028 9.57
2029 10.15
2030 10.77
2031 11.43
2032 12.13
2033 13.18

 

Cord Blood Banking Services Market Overview

The cord blood banking services market refers to the collection and storage for potential medical use through a procedure called cord blood banking. Rich in stem cells, umbilical cord blood can be utilized to treat a wide range of illnesses and conditions, including leukemia, lymphoma, and several genetic abnormalities. Parents can store these priceless stem cells for their kids' or other family members' possible future usage by preserving them through cord blood banking. The market is driven by the simplicity and safety of cord blood in harvesting stem cells and the rising awareness about cord blood banking services.

The cord blood banking services market is fragmented with multiple small-scale and large-scale players, such as California Cryobank Stem Cell Services LLC, Global Cord Blood Corporation, CBR Systems Inc., PerkinElmer Inc. (ViaCord LLC), Cord Blood Foundation (Smart Cells International), Cryo-Cell International, Cordlife Group Limited, AlphaCord LLC, ATCC, CSG-BIO, Singapore Cord Blood Bank, FamiCord.

Cord Blood Banking Services Market Growth Factors

  • The rising awareness about cord blood banking services can be the opportunity to boost the cord blood banking services market.
  • The simplicity and safety of cord blood for harvesting stem cells are growing the demand for cord blood banking services in the market.

Cord Blood Banking Services Market Scope

Report Coverage Details
Growth Rate from 2024 to 2033 CAGR of 6.12%
Cord Blood Banking Services Market Size in 2023 USD 33.85 Billion
Cord Blood Banking Services Market Size in 2024 USD 35.92 Billion
Cord Blood Banking Services Market Size by 2033 USD 61.31 Billion
Largest Market North America
Base Year 2023
Forecast Period 2024 to 2033
Segments Covered By Storage Services, By Component, and By Application
Regions Covered North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa

 

Cord Blood Banking Services Market Dynamics

Driver: Simplicity and safety of cord blood to harvest stem cells

The simplicity and safety of cord blood for harvesting stem cells are growing the demand for cord blood banking services in the market. As a result, it is simple and safe to isolate stem cells from cord blood. The importance of saving their child’s cord blood as a possible source of stem cells for upcoming medical procedures is becoming more known to parents. Because cord blood is a desirable alternative for families desiring to save for their future health, this can grow the cord blood banking services market. 

Restraint: Unawareness of cord blood banking services among clinicians

The unawareness of cord blood banking services among clinicians may slow down the market. Potential consumers might not be aware of the benefits of cord blood banking services. As a result, fewer people choose to bank their cord blood, which lowers the demand for cord blood banking services market.

Opportunity: Rising awareness about cord blood banking services

The rising awareness about cord blood banking services can be the opportunity to boost the cord blood banking services market.  As more pregnant parents become aware of the possible advantages for the future health of their unborn child. The demand that rises with knowledge may spur innovation and growth of the market.

Storage Services Insights

The private cord blood banks segment dominated the cord blood banking services market by storage services in 2023. This is mainly because they offer parents the choice to keep their baby’s cord blood for potential further use. This provides families access to their own stem cells in case they are later required for medical procedures. Additionally, parents who have concerns about the future of their kids may find specialized services and storage alternatives offered by private banks.

Cord Blood Banking Services Market Share, By Storage Services, 2023 (%)

The public cord blood banks segment is expected to grow to the highest CAGR in the cord blood banking services market by storage services during the forecast period. The public banks saved their own cord blood, and anybody in need of a stem cell transplant can get donated cord blood units from public banks. Many people who want to improve the health of others find this ethical quality desirable.

Component Insights

The cord tissue segment dominated the cord blood banking services market by component in 2023. Because of its abundant supply of mesenchymal stem cells (MCSs), which have been demonstrated in regenerative medicine for the treatment of a variety of illnesses and injuries, cord tissues have become the leader of the market. Compared to mesenchymal stem cells from other sources, those produced from the cord tissues have the benefit of simple accessibility, immunomodulatory capabilities, and decreased risk of rejection. There will probably be an increase in demand for cord tissue banking as regenerative medicines research.

The cord blood segment is expected to grow to the highest CAGR in the cord blood banking services market by component during the forecast period. Due to developments in stem cell research and regenerative medicine, as well as growing public awareness of the potential advantages of cord blood stem cells in treating a range of illnesses and disorders, the cord blood segment of the market is anticipated to expand. In addition, an increasing number of parents are choosing to bank their child's cord blood in case they require medical attention down the road.

Application Insights

The diabetes segment dominated the cord blood banking services market by application in 2023. There are a number of reasons why the diabetes market dominates the cord blood banking services industry. First, via the use of regenerative medicine techniques, cord blood stem cells have demonstrated encouraging promise in the treatment of diabetes. Second, the need for novel treatment alternatives is being driven by the rising global prevalence of diabetes. The treatment of diabetes with cord blood stem cells has also been the subject of research and clinical studies that have attracted a lot of interest and funding, which has further fueled the expansion of this market.

The cancer disease segment is expected to grow to the highest CAGR in the cord blood banking services market by application during the forecast period. Because cord blood includes stem cells that can be employed in therapies for some forms of cancer, such as stem cell transplants, the rise in cancer disorders may fuel demand for cord blood banking services. The need for these services may rise in tandem with the prevalence of cancer.

Cord Blood Banking Services Market Recent Developments

  • In February 2024, CooperSurgical®, a global leader in fertility and women's health, and Fulgent Genetics, Inc., a technology-based company with a well-established clinical diagnostic business and a therapeutic development business, announced that they have partnered to offer families of Cord Blood Registry® (CBR®) exclusive newborn genetic screening panels.
  • In February 2023, Americord, a leading private stem cell bank, announced the release of cord blood stem cells to a client's grandmother in India for the treatment of motor neuron disease. Motor neuron disease is a progressive neurological disorder that poses immense challenges for patients and families.
  • In September 2023, CooperSurgical, a global leader in fertility and women's health announced that Cord Blood Registry® (CBR®) played a key role in the Cord Blood Connect meeting, which was held from September 8th – 11th, the annual meeting of the Cord Blood Association. The Cord Blood Association is an international nonprofit organization that promotes both public and family newborn stem cell preservation and accelerates the use of cord blood and birthing tissues to benefit patients and advance medicine.
  • In July 2023, Cell Genesis announced the launch of CEXCI Cord Protein Banking, a groundbreaking initiative that marks a new era in the field of stem cell research and personalized medicine. This innovative approach harnesses the power of umbilical cord stem cell protein to unlock a world of possibilities for improved health outcomes and transformative medical treatments.

Cord Blood Banking Services Market Companies

  • Global Cord Blood Corporation
  • CBR Systems Inc.
  • PerkinElmer Inc. (ViaCord LLC)
  • Cryo-Cell International
  • Cordlife Group Limited
  • AlphaCord LLC
  • ATCC
  • CSG-BIO
  • California Cryobank Stem Cell Services LLC
  • Cord Blood Foundation (Smart Cells International)
  • Singapore Cord Blood Bank
  • FamiCord

Segment Covered in the Report

By Storage Services

  • Public Cord Blood Banks
  • Private Cord Blood Banks

By Component

  • Cord Blood
  • Cord Tissue

By Application

  • Cancer Disease
  • Diabetes
  • Blood Disease
  • Immune Disorders
  • Metabolic Disorders
  • Others

By Geography

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • Middle East & Africa

Frequently Asked Questions

How big is the cord blood banking services industry?
The global cord blood banking services market size is expected to increase USD 61.31 billion by 2033 from USD 33.85 billion in 2023.
What is the growth rate of the cord blood banking services industry?
The global cord blood banking services market will register growth rate of 6.12% between 2024 and 2033.
Who are the prominent players operating in the cord blood banking services market?
The major players operating in the cord blood banking services market are Global Cord Blood Corporation, CBR Systems Inc., PerkinElmer Inc. (ViaCord LLC), Cryo-Cell International, Cordlife Group Limited, AlphaCord LLC, ATCC, CSG-BIO, California Cryobank Stem Cell Services LLC, Cord Blood Foundation (Smart Cells International), Singapore Cord Blood Bank, FamiCord, and Others.
Which are the driving factors of the cord blood banking services market?
The driving factor of the cord blood banking services market is the simplicity and safety of cord blood to harvest stem cells.
Which region will lead the global cord blood banking services market?
North America region will lead the global cord blood banking services market during the forecast period 2024 to 2033.

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