Global Cord Blood Banking Services Market Size Study, 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 Dis

Global Cord Blood Banking Services Market Size Study, 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), and Regional Forecasts 2022-2032

Global Cord Blood Banking Services Market is valued at approximately USD 1.89 billion in 2023 and is anticipated to grow with a healthy growth rate of more than 13.3% over the forecast period 2024-2032. Cord blood, rich in stem cells, can treat over 80 genetic diseases, including chronic conditions such as cancer, diabetes, blood diseases, and immune disorders. Despite the small amount of cord blood that can be collected from a single umbilical cord, its high stem cell concentration makes it invaluable for future use, with storage durations averaging 20-25 years. This remarkable potential, coupled with government support for research and clinical trials, has spurred significant investment from healthcare companies in cord blood stem cell therapies, thereby propelling market growth.

The Cord Blood Banking Services Market has witnessed significant growth over the past two decades. The current competitive landscape sees companies striving to raise awareness about the benefits of cord blood storage. For instance, collaborations such as the one between Cord Blood Registry and The Institute for Transfusion Medicine aim to educate expectant parents on cord blood banking options and financial schemes for storage and donation. Such initiatives are expected to drive the growth of the Cord Blood Banking Services market. Additionally, rising healthcare expenditure and supportive government initiatives in many countries are contributing to market expansion. However, challenges such as high costs associated with storage and collection, along with limited awareness in developing regions, can impede growth. Overall, the market is poised for continued expansion, driven by ongoing research, technological advancements, and increasing adoption of regenerative medicine.

The key regions considered for the Cord Blood Banking Services Market study include Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. North America is both the leading and the fastest-growing region in the Cord Blood Banking Services Market. This dominance is attributed to several factors, including high awareness levels about the medical benefits of cord blood, advanced healthcare infrastructure, and significant investments in medical research and biotechnology. The presence of numerous private and public cord blood banks in the United States and Canada also contributes to the region's leading position. Additionally, favourable government policies and initiatives, such as funding for cord blood research and public awareness campaigns, have accelerated market growth. Moreover, Asia Pacific is projected to register the fastest growth. The region's rapid technological advancements and high healthcare expenditure enable the swift adoption of new and improved cord blood banking techniques. As a result, Asia Pacific continues to set the pace in the global market, with increasing demand and innovation driving its growth.

Major market player included in this report are:

Cord Blood Registry (CBR)

Cryo-Cell International, Inc.

ViaCord, LLC

China Cord Blood Corporation (CCBC)

Cryo-Save AG

Cordlife Group Limited

LifeCell International Pvt. Ltd.

Smart Cells International Ltd.

Americord Registry LLC

Global Cord Blood Corporation

StemCyte Inc.

Cells4Life Group LLP

BioCell Pty Ltd.

HealthBanks Biotech (USA) Inc.

Future Health Biobank

The detailed segments and sub-segment of the market are explained below:

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

By Region:

North America

U.S.

Canada

Europe

Germany

Italy

France

Spain

Rest of Europe

Asia-Pacific

China

Japan

India

South Korea

Australia

Rest of Asia Pacific

Latin America

Brazil

Mexico

Rest of Latin America

Middle East and Africa

Saudi Arabia

South Africa

Rest of Middle East and Africa

Years considered for the study are as follows:

Historical year – 2022

Base year – 2023

Forecast period – 2024 to 2032

Key Takeaways:

Market Estimates & Forecast for 10 years from 2022 to 2032.

Annualized revenues and regional level analysis for each market segment.

Detailed analysis of geographical landscape with Country level analysis of major regions.

Competitive landscape with information on major players in the market.

Analysis of key business strategies and recommendations on future market approach.

Analysis of competitive structure of the market.

Demand side and supply side analysis of the market.

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