Umbilical Cord Blood Banking Market Estimated to Flourish by 2025

Transparency Market Research estimates that the global umbilical cord blood banking market, which valued at US$3,124.4 mn in 2016, will exhibit a strong CAGR of 11.4% from 2017 to 2025, reaching an estimated value of US$8,178.1 mn in 2025. The key factors encouraging expectant parents to preserve cord blood include the vast rise in the rate of hematopoietic stem cell transplantation, the vast advancements in cord blood processing and storage technologies, increased awareness about stem cell therapy, and increase in applications of cord blood cells in treatment of various diseases. The market expanded at a rapid pace in the past decade also due to the active role of public and private bodied in educating the parental population about the process and benefits of cord blood banking.

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Umbilical cord blood is a rich source of primitive hematopoietic stem cells. Therefore, it has a strong regenerative potential for stem cell-based therapy for the treatment of non-hematological and hematological diseases. Umbilical cord blood is also used as an alternative to bone marrow treatment. Hematopoietic stem cell transplantation is the treatment of stem cells, usually derived from peripheral blood, bone marrow, or umbilical cord blood. The transplantation is mostly performed for the treatment of bone marrow or blood cancers. Increasing incidences of cancer along with adoption of stem cell treatment in developed countries such as the U.S., the U.K., and Germany have boosted the demand for umbilical cord blood banking, which, in turn, is expected to propel the market.

Geographically, the North America market for umbilical cord blood banking leads the global market, commanding more than 38.2% share in the global market in 2016. The North America market is expected to continue its strong growth in the next few years as well, chiefly owing to the rising demand for umbilical cord blood in stem cell research. Demand for cord blood banking in North America is high in the U.S., which held 83.8% market share in 2016, followed by Canada. Higher market share of the U.S. is attributed to the presence of highly established research and development infrastructure and rising investments by pharmaceutical giants in stem cell research.

Some of the leading players in the market are CBR Systems, Inc., ViaCord Inc., China Cord Blood Corporation, Cord Blood America, Inc., Cryo-Cell International, Inc., Cryo-Save AG, Cordlife Group Ltd., Vita 34 AG, LifeCell, and StemCyte Inc.

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