Dublin, Feb. 12, 2025 (GLOBE NEWSWIRE) — The “Cord Blood Banking Services – A Global Market Overview” report has been added to ResearchAndMarkets.com’s offering.
The global cord blood banking services market size was valued at US$32.2 billion in 2024 and is anticipated to reach US$47.9 billion by 2030, growing at a CAGR of 6.8% during the forecast period 2024-2030.
This global report on Cord Blood Banking Services analyzes the global and regional market based on service, bank type, component, and application for the period 2021-2030 with projections from 2024 to 2030 in terms of value in US$. In addition to providing profiles of major companies operating in this space, the latest corporate and industrial developments have been covered to offer a clear panorama of how and where the market is progressing.
The cord blood banking services market growth is propelled by the ease and safety of collecting stem cells from cord blood, growing awareness among parents regarding its potential medical benefits, and the increasing prevalence of autoimmune diseases, cancer, hematological disorders, and genetic issues. Progress in cord blood stem cell research, new therapies, and advancements in cord blood processing methods are driving market expansion.
Technological innovations, growing awareness of stem cell treatments, and the emergence of personalized medicine are increasing the demand for private cord blood banking. The increasing occurrence of genetic disorders and advancements in biotechnology provide considerable opportunities for this market growth. Additionally, the expansion of healthcare facilities, government initiatives, and partnerships between cord blood banks and research organizations are supporting market expansion.
Cord Blood Banking Services Regional Market Analysis
In 2024, North America led the global cord blood banking services market, capturing 40.5% of the share, supported by a robust healthcare infrastructure, increased awareness, and rising healthcare spending in the U.S. and Canada. The region benefits from innovative technology, regulatory support, and a high birth rate, with prominent research institutions and cord blood banks playing a significant role in market growth.
In contrast, the Asia Pacific region is expected to witness the fastest growth with a CAGR of 8.7% during the forecast period 2024-2030, driven by increasing awareness of stem cell therapies, enhanced healthcare policies, and a substantial birth rate, especially in China and India. The growing demand for stem cell therapies, rising disposable incomes, and supportive governmental initiatives are propelling market growth in APAC, establishing it as the fastest-growing area in cord blood banking services.
Cord Blood Banking Market Analysis by Service
Based on services, the processing segment leads the market in 2024, accounting for 35.8% of the market share. This dominance is driven by clinical trials, increased research on cord blood, and the growing prevalence of hematological disorders. The processing procedure involves separating blood cells and plasma and the cryopreservation of stem cells and white blood cells within 48 hours post-birth, a method widely practiced in public and private banks.
Conversely, the storage segment is projected to record the fastest CAGR of 8.3% from 2024 to 2030, driven by increasing parental awareness and demand for cord blood storage for future use. Storage provides an economical option for long-term preservation, making it a significant factor in the market’s expansion.
Cord Blood Banking Services Market Analysis by Bank Type
Based on cord blood bank type, the private bank is the largest segment, with an estimated 54.7% share in 2024. Private banks preserve cord blood solely for donors and their families, providing tailored services, guaranteed availability of blood, and the possibility of future medical applications, which propels their expansion. Factors such as a growing demand for personalized medicine, increasing awareness of stem cell therapies, and concerns about future health requirements further enhance the private sector’s leading position.
Meanwhile, the public banks are anticipated to register the fastest growth with a CAGR of 7.7% from 2024 to 2030, driven by the ethical incentive of donating cord blood for public benefit, enabling access to stem cell transplants and research. Public banks advocate for community health, advance medical research, and widen access to life-saving treatments, supporting their growth.
Cord Blood Banking Services Market Analysis by Component
Based on components, the cord blood segment leads the market, with an estimated 73.7% share in 2024, propelled by the growing use of stem cell therapies for disorders related to hematology, immunity, and cancer. The expansion of this segment is supported by advancements in stem cell research, heightened public awareness, and a rising number of parents opting to bank cord blood for potential future health needs.
On the other hand, the cord tissue segment is expected to witness the fastest growth rate at a CAGR of 7.5% during the forecast period, driven by its abundant supply of mesenchymal stem cells (MSCs), which are valued for their regenerative abilities, ease of access, immune system modulation benefits, and lower risks of rejection. Technological advancements and ongoing studies in cord tissue processing and storage further boost its market appeal, leading to a surge in demand for cord tissue banking.
Cord Blood Banking Services Market Analysis by Application
Based on application, cancer, and blood disorders are projected to account for more than 60% of the market share in 2024 due to the essential function of cord blood in hematopoietic stem cell transplants for the treatment of conditions such as leukemia, lymphoma, sickle cell anemia, and thalassemia. Among these, the cancer segment is expected to experience the fastest growth with a CAGR of 7.5% during the analysis period 2024-2030.
This growth is fueled by the increasing prevalence of cancer, a rise in approvals for cord blood-based therapies, advancements in research, and a broader adoption of these therapies in oncology practices. Additionally, government funding and awareness programs bolster the market by enhancing access to stem cell transplants for cancer treatment, thereby improving outcomes for patients and their families.
Key Metrics
- Historical Period: 2021-2023
- Base Year: 2024
- Forecast Period: 2024-2030
- Units: Value market in US$
- Companies Mentioned: 28+
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 295 |
| Forecast Period | 2024 – 2030 |
| Estimated Market Value (USD) in 2024 | $32.2 Billion |
| Forecasted Market Value (USD) by 2030 | $47.9 Billion |
| Compound Annual Growth Rate | 6.8% |
| Regions Covered | Global |
Key Topics Covered:
1. Introduction
- Product Outline
- Cord Blood Banking Services Defined
- Cord Blood Banking Services
- Collection & Transportation
- Processing
- Analysis
- Storage
- Cord Blood Banking Service Bank Types
- Private
- Public
- Cord Blood Banking Service Components
- Cord Blood
- Cord Tissue
- Cord Blood Banking Service Applications
- Cancer
- Blood Disorders
- Immune Deficiencies
- Metabolic Disorders
- Other Applications (Including Osteopetrosis, Neurological Disorders, Cardiovascular Disorders, and others)
2. Key Market Trends
3. Key Global Players
- Alphacord LLC
- Americord Registry LLC
- Banco de Cordon Umbilical (BCU)
- BIOCORD AG
- Carolinas Cord Blood Bank (CCBB)
- Cells4Life Group LLP
- CooperSurgical Inc.
- CordBank NZ
- Cordlife Group Limited
- Cryo Stemcell Karnataka Pvt Ltd
- Cryo-Cell International, Inc.
- Cryosite Limited
- Cryoviva Biotech Pvt. Ltd.
- CSG-BIO
- Famicord Group
- Future Health Biobank
- INNOVIA BioBank
- Jeevan Stem Cell Foundation
- Lifebank USA
- LifeCell International Pvt. Ltd.
- Maze Cord Blood Laboratories
- NeoStem, Inc
- New England Cord Blood Bank, Inc.
- Singapore Cord Blood Bank (SCBB)
- StemCyte, Inc.
- ViaCord (a part of Revvity)
- Virgin Health Bank
- VITA 34 AG
4. Key Business & Type Trends
5. Global Market Overview
- Global Cord Blood Banking Services Market Overview by Service
- Cord Blood Banking Services Market Overview by Global Region
- Collection & Transportation
- Processing
- Analysis
- Storage
- Global Cord Blood Banking Services Market Overview by Bank Type
- Cord Blood Banking Services Bank Type Market Overview by Global Region
- Private
- Public
- Global Cord Blood Banking Services Market Overview by Component
- Cord Blood Banking Services Component Market Overview by Global Region
- Cord Blood
- Cord Tissue
- Global Cord Blood Banking Services Market Overview by Application
- Cord Blood Banking Services Application Market Overview by Global Region
- Orthopedics
- Cardiology
- Urology
- Dental
- Neurology
- Ophthalmology
- Other Applications
For more information about this report visit https://www.researchandmarkets.com/r/igatir
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- Cord Blood Banking Services Global Market
