Cord Blood Banking Services Market – Global Industry Analysis and Forecast (2023-2029) Trends, Statistics, Dynamics, Segmentation by Storage services, component, end user, Application, and Region

Cord Blood Banking Services Market was valued at US$ 1.71 Bn. in 2022. Global Cord Blood Banking Services Market size is expected to grow at a CAGR of 14.61 % through the forecast period.
Cord Blood Banking Services Market Overview:
Cord blood banking services is an option for parents who want to preserve the blood of the umbilical cord and placenta of their baby as insurance to help with possible future medical needs of their child. It can also be used for other biologically matched children, either in their own family or the general public.

Cord blood contains all the same components as normal blood, including red blood cells, white blood cells, platelets and plasma. What makes it special is that it’s also rich in hematopoietic stem cells special blood-forming stem cells that are similar to those found in bone marrow. These cells can help treat many types of diseases.To know about the Research Methodology :- Request Free Sample Report

Benefits of cord blood banking services is when the patient is suffering from any diseases then the hematopoietic stem cells found in cord blood differ from other cells in the body, which mostly can only make copies of themselves. These powerful stem cells, also found in bone marrow, can develop into different types of blood and immune-system cells.Stem cells are used to treat over 70 types of diseases these include genetic disorders, immune system conditions, cancer and neurological disorders.

The report explores the Cord Blood Banking Services Market's segments (Connectivity and Content, and Region). Data has been provided by market participants, and regions (North America, Asia Pacific, Europe, Middle East & Africa, and South America). The MMR market report provides a thorough analysis of the rapid advances that are currently taking place across all industry sectors. Facts and figures, illustrations, and presentations are used to provide key data analysis for the historical period from 2017 to 2022. The report investigates the Cord Blood Banking Services Market's drivers, limitations, prospects, and barriers. This MMR report includes investor recommendations based on a thorough examination of the Cord Blood Banking Services Market's contemporary competitive scenario
Cord Blood Banking Services Market Dynamics:
Companies are attempting to raise knowledge about the benefits of cord blood storage, which has resulted in a surge in the market for cord blood banking services. Furthermore, the Cord Blood Registry and the Institute for Transfusion Medicine teamed up to start a multi-year campaign to raise awareness of cord blood cells. Expectant parents are taught and directed about cord blood banking alternatives, including different financial schemes for storage and donation, through campaigns, which is predicted to enhance the cord blood banking services market growth.

Government agencies have backed cord blood stem cell research and clinical trials, piquing the interest of healthcare corporations to engage in the development and commercialization of cord blood stem cell medicines.

The prevalence of cancer has been increasing around the world which is one of the major factors anticipated to drive the market growth of cord blood banking services. Myeloma and leukaemia are some of the types of cancer that are generally treated with somatic cell transplants and other diseases include diabetes, blood diseases and other life-threatening genetic diseases are further anticipated to boost the cord blood banking services market.

Rising the birth population in the worldwide also drive the global cord blood banking services market.
Cord Blood Banking Services Market Segment Analysis:
Based on the storage services
Based On the storage services, the global cord blood banking services market is segmented into public cord blood banks, private cord blood banks, and hybrid cord blood banks.

The Private Bank segment is projected to rise the most during to forecasted period due to its large customer base, attractive marketing practices, and generating higher revenue in the market.

Based on the Application
Based On the application, the global cord blood banking services market is segmented into cancers, blood disorders, metabolic disorders, immune disorders, and osteoporosis.

Based on the Component
Based on the component the global cord blood banking services market is segmented into cord blood, cord tissue, placenta, and others.

Based on the end user
Based on the end user the global cord blood banking services market is segmented into hospitals, pharmaceutical research, research institutes and others.
Cord Blood Banking Services Market Regional Insights:
North America is expected to have the highest cord blood banking services market share because of increase in the prevalence of various cancers like leukaemia & lymphomas, an increasing number of genetic disorders, technological advancements, and the growing number of patients with damaged bone marrow.

Europe accounted for the second-largest market owing to high healthcare expenditure and awareness regarding available services.

Asia Pacific market is estimated to grow at the fastest CAGR during the forecast period owing to the presence of emerging countries such as China and India. Increasing investments in healthcare sector, escalating investment by international players to maximize the geographic reach, and thereby expand market share are some of the factors anticipated to spur the Asia Pacific cord blood banking services market.
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Global Cord Blood Banking Services Market


Report Coverage
Details


Base Year:
2022
Forecast Period:
2023-2029


Historical Data:
2017 to 2022
Market Size in 2022:
US $ 1.71 Bn.


Forecast Period 2023 to 2029 CAGR:
14.61%
Market Size in 2029:
US $ 4.46 Bn.


 Segments Covered:
by Storage services
• Public cord blood banks
• Private cord blood banks
• Hybrid cord blood banks


by Application
• Cancers
• Blood disorders
• Metabolic disorders
• Immune disorders
• Osteoporosis


by component
• Cord blood
• Cord tissue
• Placenta
• Others.


by End-User
• Hospitals
• Pharmaceutical research
• Research institutes
• Others.



Cord Blood Banking Services Market, by Region
• North America (United States, Canada and Mexico)
• Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe)
• Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC)
• Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A)
• South America (Brazil, Argentina Rest of South America)
Cord Blood Banking Services Market Key Players
• China Cord Blood Corporation
• Cord Blood America
• CBR Systems
• Cordlife Group
• Cryo-Cell International
• Cryo-Save
• ViaCord Inc.
• Virgin Health Bank
• California Cryobank Stem Cell Services
• StemCyte Inc.
• Lifeforce cyrobanks
• National cord blood program
• ESPERITE NV
• Precision Cellular Storage
• Canadian Blood Services
• Takeda Pharmaceutical Company Limited
• Abbott
• Haemonetics Corporation
• Shanghai RAAS
• Macopharma

Frequently Asked Questions:

1] What segments are covered in the Global Cord Blood Banking Services Market report?
Ans. The segments covered in the Cord Blood Banking Services Market report are based on Storage services, component, end user and Application.

2] Which region is expected to hold the highest share in the Global Cord Blood Banking Services Market?
Ans. North America region is expected to hold the highest share in the Cord Blood Banking Services Market.

3] What is the market size of the Global Cord Blood Banking Services Market by 2029?
Ans. The market size of the Cord Blood Banking Services Market by 2029 is expected to reach US$ 4.46 Bn.

4] What is the forecast period for the Global Cord Blood Banking Services Market?
Ans. The forecast period for the Cord Blood Banking Services Market is 2023-2029.

5] What was the market size of the Global Cord Blood Banking Services Market in 2022?
Ans. The market size of the Cord Blood Banking Services Market in 2022 was valued at US$ 1.71 Bn.