Global Cord Blood Banking Services
Market Report
2024
Delivery Includes:- Market Timeline 2019 till 2031, Market Size, Revenue/Volume Share, Forecast and CAGR, Competitor Analysis, Regional Analysis, Country Analysis, Segment Analysis, Market Trends, Drivers, Opportunities, Restraints, ESG Analysis, Porters Analysis, PESTEL Analysis, Market Attractiveness, Patent Analysis, Technological Trend, SWOT Analysis, COVID-19 Analysis, Consumer Behavior Analysis, etc.
The base year for the calculation is 2023 and 2019 to 2023 will be historical period. The year 2024 will be estimated one while the forecasted data will be from year 2025 to 2031. When we deliver the report that time we updated report data till the purchase date.
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According to Cognitive Market Research, the global Cord Blood Banking Services market size was USD XX million in 2023 and will expand at a compound annual growth rate (CAGR) of 14% from 2024 to 2031.
Base Year | 2023 |
Historical Data Time Period | 2019-2023 |
Forecast Period | 2024-2031 |
Global Market Size | 121212 |
Country Market Size | 121212 |
North Americ Market Size | 121212 |
Europe Market Size | 121212 |
Asia Pacific Market Size | 121212 |
South America Market Size | 121212 |
Middle East and Africa Market Size | 121212 |
Market Split by Type |
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Market Split by Application |
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List of Competitors |
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Regional Analysis |
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Country Analysis |
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Key Qualitative Information Covered |
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Cord Blood Banking Services Market is Segmented as below. Particular segment of your interest can be provided without any additional cost. Download the Sample Pages!
Individual cells found in a rich supply of cord blood called hematopoietic stem cells can be employed to treat a variety of invasive disorders. Cord blood can be used to treat several illnesses, including problems with the immune system, neurological diseases, immune system-related disorders, and several cancer types. Cord blood banking is essential for the long-term health of a kid and family. Cord blood banking services are available to parents who wish to preserve their baby's placenta and umbilical cord blood in case of future medical emergencies. Whether or not they are part of their own family, it also applies to other children who are connected to them biologically.
Cord blood contains the same precise amounts of platelets, plasma, white blood cells, and red blood cells as ordinary blood. It is distinct because it also contains a large number of hematopoietic stem cells, which are individual bone marrow-like cells that make blood. Many disorders can be treated with the help of these cells. The growing prevalence of cancers like leukaemia and lymphoma, which are brought on by longer workdays, stressed lives, and excessive drinking and smoking use, is one of the key factors driving the market. Additionally, there is an increasing global trend in the utilisation of cord blood banking facilities to treat immunodeficiency problems.
The government's funding and investments for public storage, the rise in chronic disease deaths, the expansion of research initiatives aimed at developing cord blood applications, and the growing public consciousness of the widespread use of cutting-edge treatments are just a few of the factors propelling the growth of the cord blood and cell banking market during the forecast period. There is a link between the hematological illness and blood and the organs that generate blood. The prevalence of these diseases is rising, including hemophilia, thalassemia, sickle cell anemia, leukemia, and lymphoma. According to World Federation of Hemophilia, United States accounted for 11,790 cases of hemophilia A and 3,026 cases of hemophilia B in 2020.
(Source- https://www1.wfh.org/publications/files/pdf-2045.pdf )
The global leukemia case rate is sharply rising, which is fueling the demand for cord blood cells. According to the National Cancer Institute, Leukemia represents 3.0% of all new cancer cases in the U.S.
(Source- https://seer.cancer.gov/statfacts/html/leuks.html)
Thus, an increase in chronic diseases and hematological disorders will drive the market for Cold Blood Banking Services.
The general public's understanding of stem cells' potential for therapeutic applications is expanding as more clinical data becomes available. Moreover, several illnesses and ailments, including cancer, immunodeficiency diseases, metabolic disorders, and degenerative neuromuscular disorders, are successfully treated with stem cells. The continued rise in per capita disposable income in developing countries and the anticipated decline in the cost of the products used in conjunction with these treatments are expected to contribute to an increase in public awareness and adoption of stem cell therapies throughout the study period, as well as stem cell banking services. Due to increased knowledge among expectant parents, cord blood banking has quickly grown throughout all continents. In developing countries like Brazil, China, and India, a plethora of public and private organizations are initiating awareness campaigns. Thus, increasing knowledge of the therapeutic potential of stem cells will have a positive effect on the demand for cold blood banking services.
Over the course of the forecast period, rising research and development in the area of using cord blood for the treatment of chronic diseases is anticipated to fuel the expansion of the global cord blood banking services market. For example, on May 11, 2021, the SingHealth Group, a Singapore-based healthcare institution, at the SingHealth Duke-NUS Academic Medical Centre (AMC), conducted a first-in-man study in Singapore using a novel technology that increases the number of blood-forming stem cells from stored umbilical cord blood (UCB) in partnership with Cordlife Group Limited, a consumer health company based in Singapore. This is the first human trial for UCB cell therapy generated in-house.
Source- https://www.singhealth.com.sg/news/tomorrows-medicine/singhealth-duke-nus-academic-medical-centre-and-cordlife-partner-to-advance-stem-cell-technology-to-first-in-man-clinical-trial-in-singapore
Research and development is being done to support the clinical viewpoint. This includes defining the cellular threshold for engraftment, creating transplantation protocols for adult patients, accelerating engraftment using single-cell expansion and homing technologies, creating individualized protocols to increase efficacy, using adoptive cell therapy to lessen the effects of delayed immune reconstitution, and utilizing cutting-edge therapies to further enhance the graft-versus-leukemia effect. Consequently, increasing R&D will lead to greater demand for cord blood banking services.
Even though it has been shown that drawing cord blood is safe and painless for both the mother and the child, employing this service can be hindered by the high cost of private banking, especially in developing and underdeveloped countries. Among these paid services are contamination, typing, and testing for infectious illnesses. The stringent laws and norms governing services for cord blood banking represent another major barrier to this company's expansion. Furthermore, it is expected that the lengthy licencing and approval process required to establish stem cell banks in developed nations, coupled with the increasingly stringent and mandatory regulatory requirements for stem cell preservation and banking, will raise the overall operating costs for stem cell banking service providers. Thus, stringent regulations and substantial costs will restrict market growth.
The main purpose of cord blood banking services is to treat genetic illnesses like cancer and other conditions. The rising incidence of different cancers is expected to drive growth in the market for cord blood banking services. Cases of sarcoma, leukaemia, immune system problems, and lymphoma have surged in the past several years in countries including the US, China, India, and Europe. According to the National Center for Biotechnology Information, there are about 248,724 non-Hodgkin lymphoma-related deaths and 509,590 new cases of the disease.
(Source-https://www.ncbi.nlm.nih.gov/pmc/articles/PMC8494781/#:~:text=According%20to%20the%20Global%20Cancer,36%20cancers%20involved%20(3). )
Thus, as the number of cancer patients rises, so does the need for cord blood banking services.
The COVID-19 pandemic altered the supply and demand for pharmaceuticals, disrupted the supply chain, and had a negative financial impact on businesses and financial markets. Numerous nations, including China, India, Saudi Arabia, the United Arab Emirates, Egypt, and others, experienced difficulties with drug shipment due to nationwide lockdowns. Many companies in the global cord blood banking services market had to temporarily suspend operations due to the COVID-19 pandemic in order to comply with new government rules aimed at curbing the disease's spread. The worldwide market for cord blood banking services was immediately impacted by this operational stoppage in terms of income flow. A stoppage in the production of industrial goods also occurs during the lockdown because of a shortage of labor and raw supplies. Moreover, businesses in this industry do not accept any new shipments. Therefore, the worldwide cord blood banking services industry has been impacted by a halt in industrial activity and lockdowns for several months. As a result, the market had a gradual recovery over the projection period. Additionally, the global cord blood banking services market was adversely affected by the COVID-19 epidemic, primarily because fewer people were donating and receiving cord blood.
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Strategic initiatives including product developments, alliances, and mergers are implemented by key actors. Prioritizing R&D helps businesses develop innovative reagents and maintain a competitive edge. Sturdy distribution networks and a commitment to quality standards boost market presence and create an atmosphere where innovation and adaptability characterize industry leaders.
Recent Developments in the Market
Source- https://blog.cordblood.com/2020/08/our-new-partnership-kicks-off-for-covid-19-treatment/
Top Companies Market Share in Cord Blood Banking Services Industry: (In no particular order of Rank)
If any Company(ies) of your interest has/have not been disclosed in the above list then please let us know the same so that we will check the data availability in our database and provide you the confirmation or include it in the final deliverables.
For the duration of the projection period, North America will hold the largest share of the global market for cord blood banking services. The benefits of storing cord blood and cells are becoming more well known as a result of advancements in therapeutic applications. This is a result of increased awareness of the advantages of cord blood therapies. The growing network of stem cell banking services across the region, the continued approval of stem cell lines for the treatment of diseases (especially hematopoietic and autoimmune disorders), recent technological advancements in the field of stem cell collection and preservation techniques, and an increase in public-private funding for stem cell research are all contributing to the growth of the North American stem cell banking market. Numerous countries' governments are providing significant financial support for research and development (R&D) projects aimed at advancing cord blood stem cell clinical trials.
Over the course of the projection period, Asia Pacific is anticipated to increase at a high CAGR. because of the large population and growing healthcare system. Due to the increased prevalence of several chronic diseases, including heart problems, blood cancer, and several autoimmune diseases, the market is expected to expand in the next years. Some of the factors expected 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. This is due to the presence of developing nations such as China, Japan, India, and Hong Kong. The demand for CB units in this region is also expected to increase due to a booming medical tourism industry.
The current report Scope analyzes Cord Blood Banking Services Market on 5 major region Split (In case you wish to acquire a specific region edition (more granular data) or any country Edition data then please write us on info@cognitivemarketresearch.com
The above graph is for illustrative purposes only.
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Global Cord Blood Banking Services Market Report 2024 Edition talks about crucial market insights with the help of segments and sub-segments analysis. In this section, we reveal an in-depth analysis of the key factors influencing Cord Blood Banking Services Industry growth. Cord Blood Banking Services market has been segmented with the help of its Type, Application , and others. Cord Blood Banking Services market analysis helps to understand key industry segments, and their global, regional, and country-level insights. Furthermore, this analysis also provides information pertaining to segments that are going to be most lucrative in the near future and their expected growth rate and future market opportunities. The report also provides detailed insights into factors responsible for the positive or negative growth of each industry segment.
The market's largest contributor is the private sector segment. The reason for this is that parents must pay a hefty fee for the collection and storage of CB units. Furthermore, because of their marketing tactics, private players have larger customer bases than public banks. The private banking services sector led the global market when all the aforementioned factors were taken into account. Greater odds of finding a compatible match for the patient's blood and the possibility that the blood unit held in private banks won't be useable are some crucial factors that are expected to propel the rise of public banks in the near future.
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Over the course of the projection period, the cancer sector will contribute the most to the market. Adult and pediatric cancers have been treated by cord blood stem cell transplantation. Worldwide, more than 35,000 cord blood transplants have been carried out, the majority of which were done to treat leukemia and other blood disorders. One important caveat is that cord blood transplants for children with leukemia or other blood abnormalities can only be performed using donors' cord blood, not the child's.
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Senior Research Associate at Cognitive Market Research
Manjiri Kanhere is an experienced market researcher focused on the Pharma & Healthcare industry. With over 3+ years of experience, She has worked with major pharmaceutical companies and healthcare providers, helping them to understand market trends, identify new business opportunities, and develop effective sales & marketing strategies. Her expertise lies in the ability to analyze complex data sets and deliver insights that drive business decisions. At Cognitive Market Research, she handles the market research related to Pharma and healthcare industry.
Manjiri Kanhere is an experienced market researcher focused on the Pharma & Healthcare industry. With over three years of experience, She has worked with major pharmaceutical companies and healthcare providers, helping them to understand market trends, identify new business opportunities, and develop effective sales & marketing strategies.
In her current role, Manjiri handles the market research related to Pharma and healthcare industry. Her passion lies in utilizing innovative approaches to distill complex information into strategic insights that empower organizations to make informed decisions.Manjiri remains an invaluable asset in the dynamic landscape of market research.
Our study will explain complete manufacturing process along with major raw materials required to manufacture end-product. This report helps to make effective decisions determining product position and will assist you to understand opportunities and threats around the globe.
The Global Cord Blood Banking Services Market is witnessing significant growth in the near future.
In 2023, the Private segment accounted for noticeable share of global Cord Blood Banking Services Market and is projected to experience significant growth in the near future.
The Cancer segment is expected to expand at the significant CAGR retaining position throughout the forecast period.
Some of the key companies Cordlife Group Limited , Cryo-Cell International Inc. and others are focusing on its strategy building model to strengthen its product portfolio and expand its business in the global market.
Please note, we have not disclose, all the sources consulted/referred during a market study due to confidentiality and paid service concern. However, rest assured that upon purchasing the service or paid report version, we will release the comprehensive list of sources along with the complete report and we also provide the data support where you can intract with the team of analysts who worked on the report.
Disclaimer:
Type | Private, Public |
Application | Cancer, Blood Disorders, Bone Marrow Failure Syndrome, Immuno-deficiency Disorders, Metabolic Disorders |
List of Competitors | Cordlife Group Limited, CBR Systems Inc., Cryo-Cell International Inc., Cryo-Save AG, Lifeforce Cryobanks, National Cord Blood Program, ViaCord Inc., Virgin Health Bank |
This chapter will help you gain GLOBAL Market Analysis of Cord Blood Banking Services. Further deep in this chapter, you will be able to review Global Cord Blood Banking Services Market Split by various segments and Geographical Split.
Chapter 1 Global Market Analysis
Global Market has been segmented on the basis 5 major regions such as North America, Europe, Asia-Pacific, Middle East & Africa, and Latin America.
You can purchase only the Executive Summary of Global Market (2019 vs 2024 vs 2031)
Global Market Dynamics, Trends, Drivers, Restraints, Opportunities, Only Pointers will be deliverable
Chapter 2 North America Market Analysis
Chapter 3 Europe Market Analysis
Chapter 4 Asia Pacific Market Analysis
Chapter 5 South America Market Analysis
Chapter 6 Middle East and Africa Market Analysis
Only Available with Corporate User License
Chapter 7 Top 10 Countries Analysis (Only Available with Corporate User License)
Competitor's Market Share and Revenue (Subject to Data Availability for Private Players)
Chapter 8 Competitor Analysis (Subject to Data Availability (Private Players))
(Subject to Data Availability (Private Players))
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Chapter 9 Qualitative Analysis (Subject to Data Availability)
Segmentation Type Analysis 2019 -2031, will provide market size split by Type. This Information is provided at Global Level, Regional Level and Top Countries Level The report with the segmentation perspective mentioned under this chapters will be delivered to you On Demand. So please let us know if you would like to receive this additional data as well. No additional cost will be applicable for the same.
Chapter 10 Market Split by Type Analysis 2019 -2031
The report with the segmentation perspective mentioned under this chapters will be delivered to you On Demand. So please let us know if you would like to receive this additional data as well. No additional cost will be applicable for the same.
Chapter 11 Market Split by Application Analysis 2019 -2031
This chapter helps you understand the Key Takeaways and Analyst Point of View of the global Cord Blood Banking Services market
Chapter 12 Research Findings
Here the analyst will summarize the content of entire report and will share his view point on the current industry scenario and how the market is expected to perform in the near future. The points shared by the analyst are based on his/her detailed in-depth understanding of the market during the course of this report study. You will be provided exclusive rights to interact with the concerned analyst for unlimited time pre purchase as well as post purchase of the report.
Why Private have a significant impact on Cord Blood Banking Services market? |
What are the key factors affecting the Private and Public of Cord Blood Banking Services Market? |
What is the CAGR/Growth Rate of Cancer during the forecast period? |
By type, which segment accounted for largest share of the global Cord Blood Banking Services Market? |
Which region is expected to dominate the global Cord Blood Banking Services Market within the forecast period? |
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