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 Opportunity Analysis and Industry Forecast, 2020-2030
The global cord blood banking services market was valued at $1,258.2million in 2020 and is projected to reach $4,495.8 million by 2030, growing at a CAGR of 13.3% from 2020 to 2030.
Umbilical cord blood is collected from the nursing homes and hospitals post the delivery of a baby. This blood contains a large amount of stem cells, which can be used to treat various diseases. The public cord blood banks are operated by the non-profit organizations with the help of government funding, which are donated by families after the delivery of baby. This donated cord blood is available for multiple applications such as for research purposes and treatment of genetic diseases.
The cord blood banking services market is expected to witness a moderate growth during the forecast period. The key drivers for the market growth are adoption of novel marketing strategies by key players, increase in R&D activities for application of cord blood, and rise in funding for establishment of public cord blood storage banks. However, high cost associated with the processing, difficulty in finding a match in the donor list of public cord blood banks, and legal & ethical issues related to collection of cord blood are expected to hamper this growth. Conversely, advancement in the stem cell therapeutics and presence of untapped potential in the developing and developed regions are expected to provide various opportunities to the cord blood banking services.
The private cord blood banks are privately owned banks where the parents can store the cord blood of newborn for future use such as for treatment of certain chronic diseases. In private banks, charges are incurred for the collection, processing, and storage of cord blood. Thus, the public cord blood banks possess competitive advantages in developed regions such as North America and Europe.
The cord blood banking services market is segmented into storage services and region. By storage services, it is classified into public cord blood banks and private cord blood banks. Private cord blood banks segment dominated the market in 2020. By component, the market is segmented into cord blood and cord tissue. Cord tissue segment generated the highest revenue in 2020. By application, diabetes segment dominated the cord blood banking services market in 2020.
On the basis of region, the cord blood banking services market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. North America is anticipated to have the highest revenue growth, followed by Europe. LAMEA is predicted to grow faster than Asia-Pacific with a CAGR of 13.5% during the forecast period.
The key players that operate in this market include Americord Registry LLC, China Cord Blood Corporation, Covis Group, Cordlife Group Limited, Cryo-Cell International, Inc., Cord for Life, National Cord Blood Program, Cordvida, Perkinelmer Inc., and Life cell international Pvt. Ltd.
Major players such as Covis Group S.a.r.l, Americold Registry LLC and others are adopted the product acquisition to improve their product portfolio to maintain competition in the market. For instance, in November 2020, Covis completed the acquisition of Amag Pharmaceuticals, Inc. and this acquisition aims to improve the therapeutic portfolio and enhancing the capabilities and offerings. Such instances are expected to provide lucrative opportunities to the major players for the growth of the market.
Key Benefits For Stakeholders
This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the cord blood banking services market analysis from 2020 to 2030 to identify the cord blood banking services industry opportunities.
The market research is offered along with information related to key drivers, restraints, and opportunities.
Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
In-depth analysis of the cord blood banking services market segmentation assists to determine the prevailing market opportunities.
Major countries in each region are mapped according to their revenue contribution to the cord blood banking services industry.
Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
The report includes the analysis of the regional as well as global cord blood banking services market trends, key players, market segments, application areas, and market growth strategies.
Key Market Segments
By BY STORAGE SERVICES
Public Cord Blood Banks
Private Cord Blood Banks
By BY COMPONENT
Cord Blood
Cord Tissue
By BY APPLICATION
Cancer Disease
DIabetes
Blood Disease
Immune Disorders
Metabolic Disorders
Others
By BY REGION
North America
U.S.
Canada
Mexico
Europe
Germany
Italy
France
Spain
Rest of Europe
Asia-Pacific
China
Japan
India
South Korea
Rest Of Asia Pacific
LAMEA
Latin America
Middle East
Africa
Key Market Players
AMAG Pharmaceuticals, Inc.
Americord Registry LLC
China Cord Blood Corporation
Cord Blood America
Cordlife Group LImited
cordvida
Cryo-cell International
Cryoholdco DE LatinoAMerica
Esperite N.V.
Lifeforce Cryobank Science Inc
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