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How Has the Cord Blood Banking Services Market Size Evolved Over the Last Few Years?
The market size for cord blood banking services has witnessed robust growth lately. The market is projected to expand from a worth of $26.71 billion in 2024 to an estimated $28.57 billion in 2025, with a compound annual growth rate (CAGR) of 7.0%. The growth during the historical period can be traced back to the surge in demand for stem cell treatments, heightened government efforts, rising healthcare spending, an upswing in chronic diseases, and a heightened demand for cord blood cells.
The market size for cord blood banking services is predicted to experience significant expansion in the coming years. It is set to reach a value of $37.22 billion by 2029, growing at a compound annual growth rate (CAGR) of 6.8%. This predicted growth during the forecast period can be associated with factors like the increasing occurrences of autoimmune diseases, an elevated prevalence of cancer, rising instances of hematological disorders, more common chronic diseases, and a heightened prevalence of genetic disorders. The forecast period also foresees major trends like technological breakthroughs, creation of novel stem cell therapies, advancements in stem cell research, progress in cord blood processing and storage methods, and the development of innovative therapeutic products.
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What Are the Key Drivers Fueling Growth in the Cord Blood Banking Services Market?
The uptick in the occurrence of genetic disorders is anticipated to boost the expansion of the cord blood banking services sector. Genetic disorders, which are caused by anomalies in a person’s DNA, often brought about by gene sequence alterations or mutations, are on the rise. This increase can be attributed to the improvement in diagnostic technology, which has increased detection rates and the risk of genetic mutations due to an increase in maternal age. Cord blood banking provides a font of stem cells that can be utilized in treating genetic disorders via transplants and prospective future gene therapies. As an illustration, Gene People, a UK-based registered charity that supports individuals impacted by genetic conditions, reported in June 2023 that one out of every 25 children in the UK suffers from a genetic disorder.
This impacts approximately 30,000 infants and young kids in the UK, and over 2.4 million children and adults every year. As such, the rise in genetic disorders has been significant in driving the growth of the cord blood banking services industry.
Which Key Segments Are Driving Growth in 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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Which Emerging Trends Will Impact the Cord Blood Banking Services Market in the Forecast Period?
Significant players in the cord blood banking services market are striving to present innovative solutions like cord blood banking facilities to increase stem cells’ survivability and therapeutic capacity. The term “cord blood banking facilities” refers to distinguished centers providing services including the collection, processing, and storage of umbilical cord blood. For instance, in August 2024, a UAE-based Sem Cells bank, Future Health GCC, inaugurated an advanced cord blood banking facility at Dubai Healthcare City, providing families the option of storing their newborn’s umbilical cord blood, abundant with stem cells. This secure method of collection takes place right after birth and provides a substantial resource for treating various serious health issues. This facility is equipped with state-of-the-art technology and adheres to strict safety standards, assuring ideal storage conditions. This collection technique of stem cells is preferable over conventional methods as it’s simpler to collect and store, offering families a feasible approach to secure their children’s prospective health.
Which Geographies Are Leading the Expansion of the Cord Blood Banking Services Market?
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.
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Who Are the Top Companies Dominating the Cord Blood Banking Services Market in 2025?
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
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