Cord Blood Banking Services Market Statistics 2023 -2030 | Americord Registry LLC, China Cord Blood Corporation, Covis Group, Cordlife Group Limited, Cryo-Cell International

The 8 Best Cord Blood Banks of 2023

Cord Blood Registry (CBR)
Americord.
Cryo-Cell.
StemCyte.
Viacord.
Lifebank USA.
MiracleCord

Government authorities have supported research and clinical trials of cord blood stem cells, thus increasing the interest of healthcare companies to invest in research and commercialization of cord blood stem cell therapies.

Cord Blood Banking Services Market Statistics:

The global Cord Blood Banking Services Market generated $1.3 billion in 2020, and is projected to reach $4.5 billion by 2030, growing at a CAGR of 13.3% from 2021 to 2030.

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KEY FINDINGS OF STUDY:

The report provides an extensive analysis of the current and emerging global cord blood banking services market trends and dynamics.

By storage services, the private cord blood bank segment dominated the market in terms of revenue in 2020.

By component, the cord tissue segment dominated the market in terms of revenue in 2020.

By application, the diabetessegment dominated themarket in terms of revenue in 2020.

The report provides an extensive analysis of thetrends and emerging opportunities of the market.

Indepth, the global cord blood banking services market analysis is conducted by constructing estimations for the key segments between 2020 and 2030.

COVID-19 Scenario

The outbreak of COVID-19 has had a negative impact on the growth of the global cord blood banking services market, owing to the occurrence of lockdowns in various counties across the globe.

Lockdowns halted the business operations of various companies in the market due to the prevalence of stringent restrictions that were imposed by the government during the pandemic.

In addition, lockdowns resulted in delay in collection and supplying of cord blood used to treat various harmful diseases.

However, the market is projected to recoup soon.

The report offers a detailed segmentation of the global cord blood banking services market based on storage services, component, application and region.

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The global cord blood banking services market witnessed significant growth over the past decade owing to the rise in awareness related to the benefits of using cord blood stem cells for the treatment of chronic diseases, such as cancer has led to an increase in the government initiative leading to surge in number of cord blood banks, which is anticipated to fuel the growth of the global cord blood banking services market.

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 Lifecell international Pvt. Ltd.

Major players have adopted product launch and acquisition as key developmental strategies to improve the product portfolio of cord blood banking products. For instance, in November 2020, Covis completed the acquisition of Amag Pharmaceuticals, Inc. and this acquisition aims to improve the therapeutic portfolio and enhance the capabilities and offerings. This is projected to improve the product portfolio of the company.

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