Global Umbilical Cord Blood Banking Market Report and Forecast 2023-2031

Global Umbilical Cord Blood Banking Market Report and Forecast 2023-2031

Global Umbilical Cord Blood Banking Market Outlook:

The global umbilical cord blood banking market value was USD 17.5 billion in 2022, driven by the increasing recognition of the therapeutic potential of stem cells across the globe. The market size is anticipated to grow at a CAGR of 5.8% during the forecast period of 2023-2031 to achieve a value of USD 29.1 billion by 2031.

Introduction

Umbilical cord blood banking involves the collection and storage of blood from the umbilical cord and placenta immediately after childbirth. The collected cord blood contains valuable stem cells that can be used in the treatment of various diseases and conditions, including blood disorders, immune system disorders, and certain types of cancer. Umbilical cord blood banking offers a unique opportunity for individuals to secure a valuable source of stem cells for potential future use.

Key Trends in the Umbilical Cord Blood Banking Market

Some of the key trends in the market are:

Increasing Awareness and Acceptance: There is a growing awareness and acceptance of umbilical cord blood banking as an important medical resource. Expectant parents are becoming more informed about the potential benefits of storing cord blood for future use, leading to an increase in the number of families choosing to bank their baby's cord blood.
Expansion of Private Cord Blood Banking: Private cord blood banking, where families store their baby's cord blood for their exclusive use, is witnessing significant growth. This trend is driven by factors such as the increasing number of private cord blood banks, improved accessibility, and the desire of families to have a personalized source of stem cells for potential use in their own family.
Advancements in Stem Cell Therapies: The field of stem cell research and regenerative medicine is rapidly evolving, with continuous advancements in the development of new therapies and treatments utilizing stem cells. This has created a greater demand for umbilical cord blood banking as a valuable source of stem cells for potential future therapies.
Public Cord Blood Banking: Public cord blood banking, where cord blood is donated for use by others in need, is gaining traction. Public cord blood banks serve as repositories of cord blood units that can be used for transplantation by individuals who require a stem cell transplant but do not have a matched donor available. The expansion of public cord blood banking initiatives and the promotion of cord blood donation contribute to the overall availability of stem cells for transplantation.

Umbilical Cord Blood Banking Market Segmentations

Market Breakup by Storage Operation

Private UCB Bank
Public UCB Bank
Market Breakup by Service Type

Sample Preservation and Storage
Sample Analysis
Sample Processing
Sample Collection and Transportation
Market Breakup by Application

Bone Marrow Failure Syndrome
Metabolic Disorder
Leukaemia
Immune Deficiencies
Lymphoma
Market Breakup by Region

North America
United States of America
Canada
Europe
United Kingdom
Germany
France
Italy
Others
Asia Pacific
China
Japan
India
ASEAN
Australia
Others
Latin America
Brazil
Argentina
Mexico
Others
Middle East and Africa
Saudi Arabia
United Arab Emirates
Nigeria
South Africa
Others

Umbilical Cord Blood Banking Market Scenario

The market for umbilical cord blood banking has gained significant traction in recent years due to the increasing recognition of the therapeutic potential of stem cells derived from cord blood. Umbilical cord blood banking involves the collection, processing, and storage of blood obtained from the umbilical cord immediately after childbirth. This blood is rich in hematopoietic stem cells, which have the ability to differentiate into various types of blood cells and hold promise for the treatment of numerous diseases and conditions.

The market is driven by several factors, including growing awareness among expectant parents about the benefits of cord blood banking, advancements in stem cell research and regenerative medicine, and the expansion of public and private cord blood banking facilities. Parents are increasingly opting for cord blood banking as a form of biological insurance for their child, as it offers a readily available source of compatible stem cells in case of future medical needs

Private cord blood banking, where families store their baby's cord blood for their exclusive use, is a significant segment of the market. Families opt for private banking to ensure that their child's stem cells are readily accessible for potential use by the child or other family members. Public cord blood banking, on the other hand, involves donating cord blood to public banks for use by patients in need of stem cell transplants. The availability of public cord blood banks is crucial for patients who do not have a compatible donor within their family.

In recent years, hybrid cord blood banking models have also emerged, offering a combination of private and public banking. This allows families to store their child's cord blood privately while also making it available for public use if needed. This approach provides families with the security of their own stored cord blood while contributing to the public pool of stem cells for transplantation.

Technological advancements have played a significant role in driving the market. Improved cryopreservation techniques, better storage facilities, and advanced stem cell processing methods have enhanced the quality and viability of stored cord blood units, increasing their therapeutic potential.

Umbilical Cord Blood Banking Market: Competitor Landscape

The key features of the market report include patent analysis, grants analysis, clinical trials analysis, funding and investment analysis, partnerships, and collaborations analysis by the leading key players. The major companies in the market are as follows:

CBR Systems, Inc.
Cryo-Cell International, Inc.
Smart Cells International Ltd.
Global Cord Blood Corporation
Stemcyte India Therapeutics Pvt. Ltd
Americord Registry LLC
China Cord Blood Corporation
Cordlife Group LImited
Esperite N.V.
Lifeforce Cryobank Science Inc