Updated 2025 Market Reports Released: Trends, Forecasts to 2034 – Early Purchase Your Competitive Edge Today!

What is the Expected Growth Rate of the Cord Blood Banking Services Market Based on Industry Projections?

The market for cord blood banking services has been rapidly expanding in the past few years. Envisaged to escalate from a size of $26.71 billion in 2024 to $28.66 billion in 2025, it boasts a compound annual growth rate (CAGR) of 7.3%. The surge witnessed during this historic period is associated with the rising demand for stem cell treatments, expanded government support, growing expenses in healthcare, a surge in chronic illnesses, and heightened demand for cord blood cells.

The market for cord blood banking services is projected to experience robust expansion in the forthcoming years. The market is anticipated to ascend to $37.41 billion in 2029, demonstrating a compound annual growth rate (CAGR) of 6.9%. Elements influencing this phenomenon in the predicted period encompass escalating occurrences of autoimmune illnesses, heightened prevalence of cancer, growing instances of hematological conditions, increasing commonality of ongoing diseases, and an upsurge in genetic disorders. Noteworthy trends during this forecast period encompass advancements in technology, the development of innovative stem cell treatments, technological progress in stem cell investigation, improvement in cord blood handling and storage procedures, and the creation of innovative therapeutic products.

What Key Drivers Are Accelerating the Growth of the Cord Blood Banking Services Market During the Forecast Period?

The escalating frequency of genetic conditions is predicted to fuel the expansion of the cord blood banking services market in the near future. These disorders are usually caused by an individual’s DNA anomalies, which are often the result of gene sequence alterations or mutations. This rising frequency of genetic conditions stems from the improvement in diagnostic technologies, which aids in better detection, as well as the increase in maternal age, which escalates the risk of genetic mutations. Cord blood banking provides a wellspring of stem cells that can be used for the treatment of genetic disorders via transplants and prospective gene therapies. For example, in June 2023, a UK-based charity organization named Gene People that advocates for people with genetic conditions reported that one in every 25 children in the UK suffers from a genetic disorder. This affects roughly 30,000 infants, small children, and more than 2.4 million annually, including adults. Consequently, this growing frequency of genetic disorders is stimulating the expansion of the cord blood banking services market.

Request Your Free Cord Blood Banking Services Market Report Sample Now!

https://www.thebusinessresearchcompany.com/sample.aspx?id=19016&type=smp

What Companies Are At the Forefront of Innovation in the Cord Blood Banking Services Market?

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

How Are Emerging Trends in Consumer Behavior Affecting the Cord Blood Banking Services Market?

Major firms in the cord blood banking services market are concentrating on creating novel solutions, such as cord blood banking facilities, to improve the viability and healing potential of stem cells. These facilities are specialist centers providing services connected to the collection, processing, and preservation of umbilical cord blood. For instance, in August 2024, Future Health GCC, a Sem Cells bank based in the UAE, inaugurated a state-of-the-art cord blood banking facility in Dubai Healthcare City. This facilitated families to preserve their newborn’s umbilical cord blood, which is teeming with stem cells. The non-invasive collection process is conducted immediately after birth and is a significant resource for treating numerous serious health issues. Equipped with sophisticated technology, the facility meets top safety standards, ensuring prime storage conditions. As a method of stem cell collection, this is more efficient than conventional sources as it is simpler to collect and preserve, offering families a convenient way to secure their children’s future health.

Pre-order Your Report for Quick and Easy Delivery!

https://www.thebusinessresearchcompany.com/report/cord-blood-banking-services-global-market-report

What Are the Primary Segments of the Cord Blood Banking Services Market and Their Roles in Growth Dynamics?

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

What Regions Are Propelling Growth in the Cord Blood Banking Services Industry?

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.

How Is the Cord Blood Banking Services Market Categorized and Defined in the Industry?

Cord blood banking services refer to the process of collecting, storing, and preserving the blood from the umbilical cord and placenta after a baby is born. This blood is rich in stem cells, which have the potential to treat a variety of medical conditions. Cord blood banking provides families with a valuable resource that can be used for medical treatments in the future, offering peace of mind and life-saving options.

Browse Through More Similar Reports By The Business Research Company:

Self-Monitoring Blood Glucose (SMBG) Devices Global Market Report 2024

https://www.thebusinessresearchcompany.com/report/self-monitoring-blood-glucose-smbg-devices-global-market-report

Stem Cell/Cord Blood Banking Global Market Report 2024

https://www.thebusinessresearchcompany.com/report/stem-cell-cord-blood-banking-global-market-report

Blood Screening Global Market Report 2024

https://www.thebusinessresearchcompany.com/report/blood-screening-global-market-report

About The Business Research Company:

With over 15000+ reports from 27 industries covering 60+ geographies, The Business Research Company has built a reputation for offering comprehensive, data-rich research and insights. Armed with 1,500,000 datasets, the optimistic contribution of in-depth secondary research, and unique insights from industry leaders, you can get the information you need to stay ahead in the game.

Contact us at:

The Business Research Company: https://www.thebusinessresearchcompany.com/

Americas +1 3156230293

Asia +44 2071930708

Europe +44 2071930708

Email us at [email protected]

Follow us on:

LinkedIn: https://in.linkedin.com/company/the-business-research-company

YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ

Global Market Model: https://www.thebusinessresearchcompany.com/global-market-model

Found this article helpful? Share it on: