Cord Blood Banking Market Size to Touch USD 27.55 Bn by 2033

The cord blood banking market has witnessed significant growth in recent years, driven by the increasing awareness about the therapeutic potential of cord blood stem cells and the rising prevalence of various chronic diseases. Cord blood banking involves the collection and storage of umbilical cord blood for future medical use. Cord blood is a rich source of hematopoietic stem cells, which can differentiate into different types of blood cells and have the potential to treat a wide range of genetic disorders, blood cancers, and other conditions. As a result, the demand for cord blood banking services has been steadily increasing, leading to the expansion of cord blood banks worldwide.

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Growth Factors:

Several factors contribute to the growth of the cord blood banking market. One of the primary growth drivers is the increasing prevalence of chronic diseases such as leukemia, lymphoma, and sickle cell anemia. Cord blood stem cells offer a potentially curative treatment option for these conditions, driving the demand for cord blood banking services. Additionally, advancements in cord blood processing and storage techniques have made it possible to store cord blood units for long periods without compromising their therapeutic efficacy, further fueling market growth. Moreover, the growing trend of delayed cord clamping during childbirth has increased the availability of cord blood for banking, contributing to market expansion.

Region Insights:

The cord blood banking market is geographically diverse, with key regions including North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. North America dominates the market, owing to the presence of established cord blood banks, supportive government initiatives, and high awareness levels among the population. Europe is also a significant market for cord blood banking, driven by increasing investments in stem cell research and favorable regulatory policies. In the Asia Pacific region, countries like China and India are witnessing rapid market growth due to improving healthcare infrastructure and rising healthcare expenditure.

Cord Blood Banking Market Scope

Cord Blood Banking Market Dynamics

Drivers:

Several factors are driving the growth of the cord blood banking market. One of the key drivers is the increasing prevalence of chronic diseases such as leukemia, lymphoma, and thalassemia. Cord blood stem cells offer a potentially curative treatment option for these conditions, driving the demand for cord blood banking services. Additionally, advancements in cord blood processing and storage techniques have made it possible to store cord blood units for long periods without compromising their therapeutic efficacy, further fueling market growth. Moreover, the growing trend of delayed cord clamping during childbirth has increased the availability of cord blood for banking, contributing to market expansion.

Opportunities:

The cord blood banking market presents numerous opportunities for growth and innovation. One such opportunity lies in expanding the applications of cord blood stem cells beyond traditional hematopoietic stem cell transplantation. Ongoing research is exploring the use of cord blood-derived stem cells in regenerative medicine, tissue engineering, and immunotherapy, opening up new avenues for therapeutic intervention. Additionally, the rising demand for personalized medicine and the development of novel cell-based therapies are expected to drive the demand for cord blood banking services in the coming years. Furthermore, strategic collaborations between cord blood banks, research institutions, and pharmaceutical companies can facilitate the development of innovative therapies and expand market reach.

Restraints:

Despite the growth prospects, the cord blood banking market faces certain restraints that may hinder market expansion. One of the primary challenges is the high cost associated with cord blood banking services, including collection, processing, and storage fees. This cost barrier limits access to cord blood banking for many individuals, particularly in low- and middle-income countries. Moreover, ethical concerns surrounding the commercialization of human tissues and the lack of standardized regulatory frameworks pose challenges to market growth. Additionally, the limited therapeutic utility of cord blood stem cells in certain conditions and the emergence of alternative stem cell sources such as bone marrow and adipose tissue could impact market demand.

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Recent Developments

• In April 2022, Aspen Neuroscience, Inc. commenced a groundbreaking patient screening study, the Trial-Ready Cohort Study, in collaboration with multiple clinical screening sites across the United States. This study marks a crucial initial step toward submitting an Investigational New Drug (IND) application to the United States Food & Drug Administration. Aspen Neuroscience’s objective is to explore the potential of ANPD001, an iPSC-derived cell replacement therapy, for treating Parkinson’s disease.
• In April 2022, TreeFrog Therapeutics introduced The Stem Cell SpaceShot Grant, a grant program offering USD 100,000 in research funding exclusively dedicated to advancing the field of stem cell biology and regenerative medicine. This initiative supports innovative research projects, fostering progress and breakthroughs in understanding and applying stem cells.
• In September 2022, ExCellThera aimed to enhance patients’ access to cord blood transplants. Cord blood transplants, characterized by not requiring exact HLA matching, offer a significant advantage over adult sources of stem cells. The company’s efforts contribute to improving the accessibility and efficacy of this medical intervention.
• In March 2022, Cryo-Cell International, Inc. reported its purchase agreement for a newly constructed 56,000 sq ft facility within the Regional Commerce Center in the Research Triangle, NC. This facility is anticipated to expand Cryo-Cell’s cryopreservation and cold storage business, introducing a new service called ExtraVault. The closure is subject to customary conditions.

Cord Blood Banking Market Companies

• Thermo Fisher Scientific (US)
• Merck KGaA (Germany)
• Lonza Group (Switzerland)
• STEMCELL Technologies (Canada)
• Takara Bio (Japan)
• FUJIFILM Cellular Dynamics (US)
• Sartorius AG (Germany)
• GE Healthcare (UK)
• Charles River Laboratories International (US)
• Cynata Therapeutics (Australia)
• Mesoblast (Australia)
• Cellular Dynamics International (US)
• Organogenesis (US)
• Osiris Therapeutics (US)
• Gamida Cell (Israel)
• Pluristem Therapeutics (Israel)
• Athersys (US)
• Brainstorm Cell Therapeutics (Israel)
• Cellectis (France)
• Ncardia AG (Germany)

Segments Covered in the Report

By Type of Bank

• Public
• Private

By Services

• Processing
• Storage
• Others

By Application

• Cancer
• Blood Disorders
• Bone Marrow Failure Syndrome
• Immuno-deficiency Disorders
• Metabolic Disorders

By End Use

• Hospital
• Research Institutes
• Specialty Clinics
• Others

By Geography

• North America
• Europe
• Asia-Pacific
• Latin America
• Middle East and Africa

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