Global Cord Blood and Cell Banking Market, By Type of Bank (Public, Private), Services (Processing, Storage), Application (Cancer, Blood Disorders, Immuno-deficiency Disorders, Metabolic Disorders, Bone Marrow Failure Syndrome), End-Use (Hospitals, Research Institutes, Specialty Clinics) – Industry Trends and Forecast to 2029
Cord Blood and Cell Banking Market Analysis and Size
The hematopoietic stem cells found in cord blood differ from other cells in the body, which typically can only generate copies of themselves, when the patient is suffering from any ailments, which is one of the benefits of cord blood banking services. These potent stem cells, which are also present in bone marrow, can differentiate into several blood and immune system cell types. Over 70 different diseases are treated with stem cells, including neurological problems, cancer, immune system disorders, and genetic disorders.
Data Bridge Market Research analyses that the cord blood and cell banking market which was USD 1.5 billion in 2021, would rocket up to USD 3.97 billion by 2029, and is expected to undergo a CAGR of 12.92% during the forecast period 2022 to 2029. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team also includes in-depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.
Cord Blood and Cell Banking Market Scope and Segmentation
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Report Metric
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Details
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Forecast Period
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2022 to 2029
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Base Year
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2021
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Historic Years
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2020 (Customizable to 2014 - 2019)
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Quantitative Units
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Revenue in USD Billion, Volumes in Units, Pricing in USD
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Segments Covered
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Type of Bank (Public, Private), Services (Processing, Storage), Application (Cancer, Blood Disorders, Immuno-deficiency Disorders, Metabolic Disorders, Bone Marrow Failure Syndrome), End-Use (Hospitals, Research Institutes, Specialty Clinics)
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Countries Covered
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U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
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Market Players Covered
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CBR Systems, Inc. (U.S.), Americord Registry LLC. (U.S.), CORDLIFE India (Singapore), Cryo-Cell International, Inc. (U.S.), ESPERITE NV (Netherlands), Cord for Life Foundation (U.S.), National Cord Blood Program (U.S.), ViaCord (U.S.), Precision Cellular Storage Ltd. (U.K.), Virgin Health Bank (U.K.), California Cryobank (U.S.), StemCyte India Therapeutics Pvt. Ltd (U.S.), Lifeforce cyrobanks (U.S.), Canadian Blood Services (Canada), Takeda Pharmaceutical Company Limited (Japan), Abbott (U.S.)
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Market Opportunities
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Market Definition
Umbilical cord blood storage facilities that collect it after childbirth make up the global cord blood and cell banking market. Various chronic and life-threatening disorders can be treated with stem cells from cord blood.
Cord Blood and Cell Banking Market Dynamics
Drivers
- Rise in chronic diseases
A few of the factors that will boost the growth of the cord blood and cell banking market in the forecast period of 2022 to 2029 include the government providing funds and investments for public storage, an increase in fatal chronic disease incidences, an increase in research activities for the development of various applications of cord blood, and an increase in public awareness of the prevalence of advanced therapeutics.
- Increase in applications of blood banking
In the forecast period, rising applications from developing nations will further boost a number of chances that will enhance the growth of the cord blood and cell banking market.
- Increased awareness of numerous medicinal applications
The increased awareness of numerous medicinal applications is blamed for the market expansion. Numerous NGOs, government agencies, business and public institutions, and other groups are raising awareness about the uses of cord banking. The ability to cure immunodeficiency illnesses is another benefit of cord blood banking technology, which profoundly alters the market.
- Increasing prevalence of hematological disorders
Blood and blood-forming organs are related to the haematological disease. The prevalence of these disorders is constantly increasing and includes thalassemia, sickle cell anaemia, leukaemia, lymphoma, haemophilia, and others. The need for cord blood cells is expanding as a result of the exponentially increasing occurrence of leukaemia cases around the world.
Opportunities
- Increase in the number of research and development activities
Additionally, the development of the sector will be positively impacted by supportive government initiatives, quickly advancing healthcare infrastructure, and increased R&D for the treatment and diagnostics of various haematological illnesses.
Restraints/Challenges
The development of the cord blood and cell banking market in the forecast period would be hampered by ethical and legal concerns as well as rising processing and storage costs.
This cord blood and cell banking market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the cord blood and cell banking market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
COVID-19 Impact on Cord Blood and Cell Banking Market
The COVID-19 pandemic has impact the global economies and affected several healthcare services, including cord blood and blood component providers. Major cord blood banking companies saw a reduction in subscriptions of between 15 and 20 percent and a decline in revenue of between 5 and 10 percent. Although there is little evidence of vertical transmission, the cord banking industry's expansion was constrained by the worry that illness would spread. One of the main causes of the income drop for key players in 2020 was due to this.
Recent Development
- In May 2021, SingHealth Duke-NUS Academic Medical Center and Cordlife announced their collaboration. The company will gain from this strategy as it develops new technologies for stem cell and blood therapies and grows its market share.
- In August 2019, Cordlife declared its regional expansion into Bangladesh. This tactic helped the business increase its market share and broaden its geographic reach.
Global Cord Blood and Cell Banking Market Scope
The cord blood and cell banking market is segmented on the basis of type of bank, services, application and end use. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Type of Bank
- Public
- Private
Services
- Processing
- Storage
Application
- Cancer
- Blood Disorders
- Immuno-deficiency Disorders
- Metabolic Disorders
- Bone Marrow Failure Syndrome
End-Use
- Hospitals
- Research Institutes
- Specialty Clinics
Cord Blood and Cell Banking Market Regional Analysis/Insights
The cord blood and cell banking market is analysed and market size insights and trends are provided by country, type of bank, services, application and end use as referenced above.
The countries covered in the cord blood and cell banking market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
North America dominates the cord blood and cell banking market due to the advancement in therapeutics application along with increasing awareness among the people regarding the benefits of cord blood and cell banking.
Asia-Pacific is expected to grow at the highest growth rate in the forecast period of 2022 to 2029 due to the increasing health awareness among the people and growing demand of advanced medical technology.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Cord Blood and Cell Banking Market Share Analysis
The cord blood and cell banking market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to cord blood and cell banking market.
Some of the major players operating in the cord blood and cell banking market are:
- CBR Systems, Inc. (U.S.)
- Americord Registry LLC. (U.S.)
- CORDLIFE India (Singapore)
- Cryo-Cell International, Inc. (U.S.)
- ESPERITE NV (Netherlands)
- Cord for Life Foundation (U.S.)
- National Cord Blood Program (U.S.)
- ViaCord (U.S.)
- Precision Cellular Storage Ltd. (U.K.)
- Virgin Health Bank (U.K.)
- California Cryobank (U.S.)
- StemCyte India Therapeutics Pvt. Ltd (U.S.)
- Lifeforce cyrobanks (U.S.)
- Canadian Blood Services (Canada)
- Takeda Pharmaceutical Company Limited (Japan)
- Abbott (U.S.)
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