Press release
Strong Growth Ahead: Cord Blood Banking Services Market Size To Grow At Arecord 6.9% Cagr By 2029
Cord Blood Banking Services
How Big Is the Cord Blood Banking Services Market Size Expected to Be by 2034?
The cord blood banking services market has grown significantly, expected to rise from $26.71 billion in 2024 to $28.66 billion in 2025 at a CAGR of 7.3%. Growth has been driven by increased demand for stem cell therapies, government initiatives, higher TH*Care expenditures, a rise in chronic diseases, and growing demand for cord blood cells.
The cord blood banking services market is expected to see robust growth in the coming years, reaching $37.41 billion by 2029 at a CAGR of 6.9%. Growth in this period will be driven by the rising incidence of autoimmune diseases, increasing cancer cases, a growing prevalence of hematological disorders, the persistence of chronic diseases, and a higher occurrence of genetic disorders. Significant trends in this period will include technological advancements, the development of innovative stem cell therapies, progress in stem cell research, improvements in cord blood processing and storage techniques, and the emergence of novel therapeutic applications.
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What Are the Emerging Segments Within the Cord Blood Banking Services Market?
The cord blood banking servicesmarket covered in this report is segmented -
1) By Component: Cord Blood, Cord Tissue
2) By Service: Collection And Transportation, Processing, Analysis, Storage
3) By Application: Cancer, Blood Disorders, Metabolic Disorders, Immune Disorders, Other Applications
4) By End User: Hospitals, Pharmaceutical Research, Research Institutes
Subsegments:
1) By Cord Blood: Private Cord Blood Banking, Public Cord Blood Banking
1) By Cord Tissue: Private Cord Tissue Banking, Public Cord Tissue Banking
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What Long-Term Drivers Are Shaping Cord Blood Banking Services Market Trends?
The cord blood banking services market is expected to grow due to the rising prevalence of genetic disorders. Advances in diagnostic technologies and an increase in maternal age are contributing to a higher rate of genetic disorders. Cord blood, rich in stem cells, can help treat genetic disorders through transplants and potential gene therapies. Reports from Gene People and other organizations highlight the significant number of children and adults affected by genetic conditions, driving the need for cord blood banking services.
Who Are the Top Competitors in Key Cord Blood Banking Services Market Segments?
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
What Are the Major Trends Shaping the Cord Blood Banking Services Market?
In the cord blood banking services market, companies are developing advanced cord blood banking facilities to store stem cells more effectively. In August 2024, Future Health GCC opened a state-of-the-art facility in Dubai TH*Care City to store umbilical cord blood, providing families with a valuable resource for treating various health conditions.
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Which Regions Are Becoming Hubs for Cord Blood Banking Services Market Innovation?
North America was the largest region in the cord blood banking services market in 2024. 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.
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Cord Blood Banking Services Market?
2. What is the CAGR expected in the Cord Blood Banking Services Market?
3. What Are the Key Innovations Transforming the Cord Blood Banking Services Industry?
4. Which Region Is Leading the Cord Blood Banking Services Market?
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