Cord Blood Banking Services Market Report 2024

This Cord Blood Banking Services market report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market’s historic and forecast market growth by geography.

The cord blood banking services market size has grown strongly in recent years. It will grow from $25.05 billion in 2023 to $26.71 billion in 2024 at a compound annual growth rate (CAGR) of 6.7%. The growth observed during the historic period can be attributed to several factors, including a rising demand for stem cell therapies, enhanced government initiatives, increased healthcare expenditure, a rise in chronic diseases, and growing demand for cord blood cells.

The cord blood banking services market size is expected to see strong growth in the next few years. It will grow to $35.03 billion in 2028 at a compound annual growth rate (CAGR) of 7%. The anticipated growth during the forecast period can be attributed to several factors, including the increasing incidence of autoimmune diseases, a rising prevalence of cancer, a higher occurrence of hematological disorders, the commonality of ongoing diseases, and an increasing prevalence of genetic disorders. Key trends expected in this period include technological advancements, the development of innovative stem cell therapies, advancements in stem cell research, improvements in cord blood processing and storage techniques, and the creation of innovative therapeutic products.

The rising prevalence of genetic disorders is projected to drive the growth of the cord blood banking services market in the future. Genetic disorders arise from abnormalities in an individual’s DNA, often due to mutations or changes in gene sequences. This increasing prevalence can be attributed to advancements in diagnostic technologies that enhance detection rates and to the rising maternal age, which elevates the risk of genetic mutations. Cord blood banking serves as a source of stem cells that can be utilized for treating genetic disorders through transplants and potential future gene therapies. For example, in June 2023, Gene People, a UK-based registered charity organization focused on supporting individuals with genetic conditions, reported that one in every 25 children in the UK is affected by a genetic disorder, which translates to around 30,000 newborns and young children, as well as over 2.4 million children and adults annually. Consequently, the increasing prevalence of genetic disorders is fueling the growth of the cord blood banking services market.

Key companies in the cord blood banking services market are concentrating on developing innovative solutions, including advanced cord blood banking facilities, to enhance the viability and therapeutic potential of stem cells. These facilities are specialized centers that provide services for the collection, processing, and storage of umbilical cord blood. For instance, in August 2024, Future Health GCC, a stem cell bank based in the UAE, launched a state-of-the-art cord blood banking facility in Dubai Healthcare City, allowing families to store their newborn's umbilical cord blood, which is rich in stem cells. The collection process is non-invasive and takes place immediately after birth, offering a valuable resource for treating various severe health conditions. This facility is equipped with advanced technology and adheres to the highest safety standards to ensure optimal storage conditions. This method of stem cell collection is more advantageous than traditional sources, as it is simpler to gather and store, providing families with a practical means to secure their children's future health.

In April 2022, Global Cord Blood Corporation, a life sciences enterprise based in China, acquired Cellenkos Inc. for $1 billion. This acquisition aims to enable Global Cord Blood Corporation to expand into the cell therapy market by obtaining the rights to develop and commercialize Cellenkos' T-regulatory cell therapies. The company plans to leverage its existing infrastructure to accelerate research, development, and commercialization, thus strengthening its position in biotechnology while addressing unmet medical needs. Cellenkos Inc. is a US-based developer of early-stage clinical biotechnology therapeutics utilizing umbilical cord blood.

Major companies operating in the cord blood banking services market are PerkinElmer Inc, AMAG Pharmaceuticals Inc, China Cord Blood Corporation, LifeCell International Pvt. Ltd, Global Cord Blood Corporation, Vita 34 AG, Cordlife Group Limited, LifeBank, Cryo-Cell International, CryoSave SA, ViaCord Inc, Future Health Biobank, Virgin Health Bank, FamiCord Group, Maze Cord Blood Laboratories, Biovault Family, Cells4Life Group LLP, Americord Registry LLC, Angiocrine Bioscience Inc, California Cryobank Stem Cell Services LLC, Singapore Cord Blood Bank, StemCyte Inc, AlphaCord LLC.

North America was the largest region in the cord blood banking services market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the cord blood banking services market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The countries covered in the cord blood banking services market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Cord blood banking services involve the collection, storage, and preservation of blood from the umbilical cord and placenta following the birth of a baby. This blood is abundant in stem cells, which have the potential to treat various medical conditions. Cord blood banking offers families a valuable resource that can be utilized for future medical treatments, providing peace of mind and potentially life-saving options.

The primary components of cord blood banking services include cord blood and cord tissue. Cord blood refers to the blood harvested from the umbilical cord and placenta after delivery. Essential services encompass collection and transportation, processing, analysis, and storage, all of which are vital for treating a range of conditions, including cancer, blood disorders, metabolic disorders, and immune disorders. These services are aimed at a variety of end users, such as hospitals, pharmaceutical research institutions, and research organizations.

The cord blood banking services market research report is one of a series of new reports that provides cord blood banking services market statistics, including cord blood banking services industry global market size, regional shares, competitors with a cord blood banking services market share, detailed cord blood banking services market segments, market trends and opportunities, and any further data you may need to thrive in the cord blood banking services industry. This cord blood banking services market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The cord blood banking services market includes revenues earned by entities by providing services, such as collection of umbilical cord blood, cryopreservation, family banking services, testing, and customer support. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


This product will be delivered within 3-5 business days.