Market Size in 2024 | Market Forecast in 2034 | CAGR (in %) | Base Year |
---|---|---|---|
USD 18.89 Billion | USD 53.76 Billion | 12.3% | 2024 |
The global umbilical cord blood banking market size was worth around USD 18.89 Billion in 2024 and is predicted to grow to around USD 53.76 Billion by 2034 with a compound annual growth rate (CAGR) of roughly 12.3% between 2025 and 2034. The report analyzes the global umbilical cord blood banking market's drivers, restraints/challenges, and the effect they have on the demands during the projection period. In addition, the report explores emerging opportunities in the umbilical cord blood banking industry.
The report analyzes the umbilical cord blood banking market’s drivers, restraints/challenges, and the effect they have on the demands during the projection period. In addition, the report explores emerging opportunities in the umbilical cord blood banking market.
The prompt preservation of a baby's cord blood after birth is known as umbilical cord blood banking. Over 80 genetic diseases can be treated with stem cells from umbilical cord blood, which is a major source of these cells. Chronic diseases including immunological disorders, blood diseases, diabetes, and cancer can be treated with cord blood stem cells. Even while only a tiny amount of cord blood can be extracted out of a single umbilical cord, it is the only form of stem cell that can be preserved for use in the future and includes a substantial number of stem cells. These cells may be kept in cord blood banks for an average of 20 to 25 years and are obtained from hospitals & nursing homes for use in the future.
Growing incidence of blood disorders to foster the market growth
Blood and blood-forming organs are related to blood disease. The prevalence of these disorders is continually increasing and includes hemophilia, lymphoma, leukemia, sickle cell anemia, thalassemia, and others. The need for cord blood cells is expanding as a result of the exponentially increasing occurrence of blood disorders especially leukemia across the world. Worldwide, an estimated 1.2 million instances of blood cancer are recorded each year, along with more than 720,000 related fatalities.
More and more blood cancer patients are being treated using cord blood. Government and commercial institutions are funding stem cell treatments for the treatment of cancer. Additionally, the development of the sector will be positively impacted by supportive government efforts, quickly advancing healthcare infrastructure, and increased R&D for the treatment & diagnostics of different blood diseases. All of these factors are expected to boost the growth of the global umbilical cord blood banking market.
High cost of umbilical cord banking to restrain market growth in emerging economies
The market may be slowed down by the growing cost of umbilical cord blood banking. Fees for private cord blood banking can range from $1,000 to $2,000. Additionally, a patient must spend $100 to $175 in maintenance and storage fees annually. Additionally, cord blood banking expenses are not covered by and reimbursed by health insurance providers. Thus, the high cost of cord blood banking and the absence of insurance may limit business growth throughout the anticipated time period.
Increasing number of clinical trials on stem cells derived from umbilical cord blood to fuel the market expansion
Researchers are using cord blood-derived stem cells in clinical studies to test potential cures for immunological problems, neurological disorders, and muscular ailments. Included in this is autism, for which a recent publication from American researchers revealed that children in the trial improved significantly after receiving cord blood infusions for 12 and 24 weeks. In 10 newborns having heart surgery, pilot research evaluated the safety and efficacy of replacing postoperative blood loss with autologous umbilical cord blood (AUCB) transfusion. Further, even neonates with brain damage are candidates for therapy with cord blood. In a phase I clinical investigation, umbilical cord blood transplantation was found to be both safe and efficacious for treating severe intraventricular hemorrhage in premature infants. Thus, growing studies and clinical trials are estimated to hold numerous opportunities for the growth of the global umbilical cord blood banking market during the forecast period.
Strict licensing and accreditation requirements to pose a major challenge to market growth
Umbilical Cord Blood Banks (UCB) are only authorized with a license and under the supervision of authorized regulatory bodies. In addition to this, the umbilical cord blood banks are required to abide by strict rules set up for the gathering, examination, testing, storing, banking, and distribution of saved units. Moreover, most international bodies including the American Society for Blood and Marrow Transplant, American Academy of Pediatrician, European Group on Ethics in Science and New Technologies, and many more for future self-use, do not advise routine private banking as genetic abnormalities cannot be treated with an autologous stem cell transplant (using a patient's own cord blood). All such factors are likely to act as major challenges to the growth of the market.
Report Attributes | Report Details |
---|---|
Report Name | Umbilical Cord Blood Banking Market |
Market Size in 2024 | USD 18.89 Billion |
Market Forecast in 2034 | USD 53.76 Billion |
Growth Rate | CAGR of 12.3% |
Number of Pages | 260 |
Key Companies Covered | Caladrius Biosciences, Cord Blood America, CORDLIFE GROUP, ATCC , Cord Blood Registry Systems, China Cord Blood Corporation, Smart Cells International, Esperite N.V., ViaCord, and Cryo-Cell International, and others. |
Segments Covered | By Storage Option, By Application, By Service Type, and By Region |
Regions Covered | North America, Europe, Asia Pacific (APAC), Latin America, The Middle East and Africa (MEA) |
Base Year | 2024 |
Historical Year | 2020 to 2023 |
Forecast Year | 2025 - 2034 |
Customization Scope | Avail customized purchase options to meet your exact research needs. Request For Customization |
The global umbilical cord banking market is categorized based on storage option, application, storage service, and region. Based on the storage option, the global market is divided into private UCB banks and public UCB banks. The application segment consists of metabolic disorders, bone marrow failure syndrome, leukemia, immune deficiencies, and lymphoma. The service type segment is classified into sample collection & transportation, sample processing, sample analysis, and sample preservation & storage.
North America to rule the global market during the forecast period
Geographically, North America is estimated to lead the global umbilical cord blood banking market during the forecast period. The major market for UCB banking in the region is the United States, followed by Canada. Also, the main factor driving the market is the rising frequency of chronic conditions. Initiatives taken by different government organizations have also increased regional awareness of the value of cord blood donation. On the other hand, since more people are becoming aware of the potential uses of cord blood in the treatment of serious illnesses, the market for UCB banking is expanding throughout Europe. The expansion of the UCB banking sector in Europe is also being greatly aided by the rising number of live births.
The report provides a company market share analysis to give a broader overview of the key market players. In addition, the report also covers key strategic developments of the market, including acquisitions & mergers, new product launches, agreements, partnerships, collaborations & joint ventures, research & development, and regional expansion of major participants involved in the umbilical cord blood banking market on a global and regional basis.
The global umbilical cord blood banking market is dominated by players like:
By Storage Option
By Application
By Service Type
By Region
FrequentlyAsked Questions
The global umbilical cord blood banking market is expected to grow due to growing awareness of stem cell therapies, increasing demand for regenerative medicine, advancements in cord blood collection and storage technologies, and the rising prevalence of genetic and hematological disorders.
According to a study, the global umbilical cord blood banking market size was worth around USD 18.89 Billion in 2024 and is expected to reach USD 53.76 Billion by 2034.
The global umbilical cord blood banking market is expected to grow at a CAGR of 12.3% during the forecast period.
North America is expected to dominate the umbilical cord blood banking market over the forecast period.
Leading players in the global umbilical cord blood banking market include Caladrius Biosciences, Cord Blood America, CORDLIFE GROUP, ATCC , Cord Blood Registry Systems, China Cord Blood Corporation, Smart Cells International, Esperite N.V., ViaCord, and Cryo-Cell International, among others.
The report explores crucial aspects of the umbilical cord blood banking market, including a detailed discussion of existing growth factors and restraints, while also examining future growth opportunities and challenges that impact the market.
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