Cord Blood Banking Services Market Research Report - Forecast to 2030

Cord Blood Banking Services Market Research Report: By Storage Services (Public, Private, Hybrid), Component (Cord Blood, Placenta), Application (Cancers, Blood Disorders), End-User (Hospitals, Pharmaceutical Research)- Forecast Till 2030

ID: MRFR/HS/4361-HCR | February 2021 | Region: Global | 100 pages         

Cord Blood Banking Services Market

Cord Blood Banking Services Market is expected to grow at a CAGR of 13.2% and market value approximately USD 4.6 billion during 2022 to 2030.

Segmentation

By Storage Services Public Private Hybrid
By Component Cord Blood Placenta
By Application Cancers Blood Disorders Metabolic disorders Bone marrow failure syndrome Others
By End-User Hospitals Pharmaceutical Research Specialty clinics Others

Key Players

  • China Cord Blood Corporation (China)
  • Cord Blood America Inc. (U.S.)
  • CBR Systems Inc. (U.S.)
  • Cordlife Group Limited (Singapore)
  • Cryo-Cell International Inc. (U.S.)
  • Cryo-Save AG (Netherland)
  • ViaCord Inc. (U.S.)
  • Virgin Health Bank (Qatar)
  • California Cryobank Stem Cell Services LLC (U.S.)
  • StemCyte Inc. (India)
  • Others

Drivers

  • Rising prevalence of autoimmune diseases
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Cord Blood Banking Services Market Overview:


Cord Blood Banking Services Market is projected to reach USD 4.6 billion to grow at CAGR of approximately 13.2% from 2022-2030 Throughout the pregnancy, the fetus gets oxygen and nutrition through the umbilical cord. During the pregnancy, the tissue is generally discarded. Moreover, just before the delivery, stem cells and immune cells are transferred to the baby as an endeavor to prepare for the delivery and to boost the immune system of both. The insight about the umbilical cord, that it is a rich source of stem cells, medical professionals have started advising in storing these stem cells right after the delivery. The Cord Blood Banking services involve collecting the stem cells, processing and storing them for future usage. 


The rising prevalence of autoimmune diseases and varied branches in the condition has propelled the Cord Blood Banking Services market growth. The presence of Treg cells in the umbilical cords which are vital in preventing the excessive reactions of immune systems is the primary reason for the market growth. The Stem cells in the cord blood are capable of treating over 80 genetic disorders including cancer and diabetes. 


COVID 19 Analysis:


The COVID 19 pandemic has created an economical shock across the globe including several medical services. Due to the pandemic, there has been a sharp decline in the subscription of about 20% in cord blood services and blood component services. The infection associated with blood transfusion and restriction in the movement has limited the Cord Blood Banking Services market growth.


Medical associations like Worldwide Network for Blood and Marrow Transplantation and the Center for International Blood and Marrow Transplant Research have recommended countries and encouraged them in storing cord blood. Additionally, the continuous research and examination regarding the usage of cord blood tissues on the COVID 19 patients have impacted the growth of the Cord Blood Banking Services industry in several countries. The favorable results that showed up when COVID patients are treated with cord blood tissues have created a significant impact on the growth of the Cord Blood Banking Services industry.


Market Dynamics:


Drivers:


The varied advantages associated with the very idea of storing the Cord blood at the time of delivery are the primary reason for the growth of the Cord Blood Banking Services industry across the globe. The presence of stem cells is capable of treating over 80 genetic diseases and other chronic diseases such as cancer, diseases, and auto-immune diseases. Additionally, storing the cord blood at the time of delivery doesn’t have any impact on the baby or the mother. Since the cord blood is collected just after the delivery when the cord is cut. These factors are bolstering the growth of the Cord Blood Banking Services industry.


The increasing prevalence of cancer and other genetic diseases like Lymphoma, Leukemia, Edwards syndrome, and other disorders related to bone marrow and immune systems like arthritis, Wiskott-Aldrich syndrome in several countries have propelled the growth of the Cord Blood Banking Services industry in recent years. 


Opportunities:


Several medical associations have influenced the government authorities to encourage the countries to adopt the Cord Blood Banking Services in recent years. Such factors are more likely to have a huge impact on the growth of the Cord Blood Banking Service industry. Additionally, the advancing medical treatments and technologies, and health care infrastructure, and R&D development have created massive opportunities for the growth of the Cord Blood Banking Service industry.


The development in the storage infrastructure in both private and public health care centers has witnessed over 20% of market share growth in the year 2020. This growth is expected to be amplified by the increasing investments in the sector. Such factors are the primary reasons for the Cord Blood Banking Services market growth.


Restraints:


The costs incurred in the Cord Blood Banking Services range between USD 175 and USD 1080 for premium storage of Cord Blood cells. However the price range differs between the public and private sector, moreover, the maintenance and storage fees are to be paid additionally, and such factors are limiting the growth of the Cord Blood Banking Services industry. 


There are a few non-profit organizations that come forward in storing the Cord Blood for free of cost, however, accessing your cord blood for the future isn’t guaranteed since the organization can utilize the cord blood for research purposes, and any transplant patient at the emergency. This factor of not having potential centers at affordable prices is hindering the overall growth of the Cord Blood Banking Services industry.


Market challenges:


The Cord Blood cells are utilized at the time of emergency or the occurrence of diseases of the decedents of the family. If the child doesn’t acquire any disease during their lifetime, storing the cord blood cells could be a mere loss. 


Stringent regulations and ethical issues associated with the Cord Blood Banking Services are the primary restricting factors in the growth of the industry.


Cumulative Growth Analysis:


The automated procedure is utilized in separating the stem cells from the red blood cells which involve centrifugation method and sedimentation. The plasma and red blood cells are separated from the white blood cells during the separation process. The white blood cells are collected which contains the 1% of stem cells that are used for future purposes. The increasing prevalence of hematological disorders across the globe has created a huge impact on the growth of the Cord Blood Banking Services market in recent years.


A recent report states that over 1.2 million cases were reported as blood cancer in the cancer institutes across the globe and over 720,000 deaths were reported because of blood cancer. Therefore, the increasing number of death due to blood cancer and other critical illness related to blood disorders have bolstered the Cord Blood Banking Services market growth.


Value chain analysis:


The Cord Blood Banking Services market value has been witnessing steady growth over the past 20 years, owing to the increasing utilization of stem cells in treating immune deficiency disorders. The enhanced services offered by the private banks in recent times have impacted the growth of the Cord Blood Banking Services industry. The stringent regulations and limitations imposed by the medical associations are met by private banking also. Such factors have influenced the expecting mothers to consider the option. 


However, if the baby delivered possesses any genetic blood disorder such as sickle cell anemia, or any other similar condition, and then the cord blood obtained at the time of delivering the baby will not be helpful for the future, as the blood cells obtained then will also possess the defect. On the other side, if the baby doesn’t require its stem cells at all in its lifetime, storing the cord blood would go to waste. The traditional method of treating leukemia requires a healthy bone marrow donor, finding a suitable donor could be extremely difficult at some times. These factors have propelled the Cord Blood Banking Services market growth in recent times.


Cord Blood Banking Services Market Segment Overview:


Based on Type of Bank:



  • Public

  • Private


Based on Services:



  • Processing

  • Storage

  • Others


Based on Application:



  • Cancer

  • Blood disorders

  • Immuno-deficiency disorders

  • Metabolic disorders

  • Bone marrow failure syndrome

  • Others


Based on End-users:



  • Hospitals

  • Research institutes

  • Specialty clinics

  • Others


Figure 1: - Global Cord Blood Banking Services Market Share, by Region


 Cord Blood Banking Services Market


Cord Blood Banking Services Market Regional Analysis:


With the rising prevalence of cancer and health conditions like Leukemias, lymphomas, across the age groups in the region, North America is currently dominating in the Cord Blood Banking Services market outlook. Surging service provides and non-profit organizations and increasing awareness about the long-term benefits associated with storing cord blood has propelled the overall growth of the Cord Blood Banking Services industry in North America. 


Over other parts in the Asia-pacific region, Europe is holding the largest Cord Blood Banking services market share. The Asia-pacific region is anticipated to exhibit a tremendous growth rate in the forecast period owing to the increasing awareness in storing stem cells and advanced health care reforms across the region. Especially, Malaysia, India, Indonesia, and China are showcasing better opportunities for the growth of the Cord Blood Banking Services market in recent years. The endeavor in placing notice boards, charts, in several hospitals and health care centers in these countries has increased the awareness of the subject.


Cord Blood Banking Services Market Competitive landscape:



  • China Cord Blood Corporation (China)

  • Cord Blood America, Inc. (U.S.)

  • CBR Systems, Inc. (U.S.)

  • Cordlife Group Limited (Singapore)

  • Cryo-Cell International, Inc. (U.S.)

  • Cryo-Save AG (Netherland)

  • ViaCord, Inc. (U.S.)

  • Virgin Health Bank (Qatar)

  • California Cryobank Stem Cell Services LLC (U.S.)

  • StemCyte, Inc. (India)

  • Norton Healthcare, Inc. (U.S.)

  • Lifeforce Cryobank Sciences Inc. (U.S.)

  • Cordova (Brazil)

  • CryoHoldco de Latinoamerica, S.A.P.I. De C.V. (Mexico)

  • Vita 34 International (Germany)

  • Maze Cord Blood Laboratories (U.S.)


Recent developments:


The recently invented genomic profiling tests carried out utilizing the next-generation sequencing techniques have the capability of screening over 7000 inherited diseases. The results help in protecting the patients’ safety before the transplant.


AXP II system enables complete automation process starting from isolation, collection, up to storage process. The compatible user interface and flexibility of the system enable the process completed within the regulatory system and reduces the volume and provides consistent buffy coat volume.


Report overview:


This report has covered:



  • Market overview

  • COVID 19 Analysis

  • Market dynamics

  • Cumulative growth analysis

  • Value chain analysis

  • Segment overview

  • Regional analysis

  • Competitive landscape

  • Recent developments



Report Scope:
Report Attribute/Metric Details
  Market Size   4.6 Billion
  CAGR   2022-2030 :13.2%
  Base Year   2021
  Forecast Period   2022-2030
  Historical Data   2020
  Forecast Units   Value (USD Billion)
  Report Coverage   Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
  Segments Covered   Storage Services, Component, Application,End-User
  Geographies Covered   North America, Europe, Asia-Pacific, and Rest of the World (RoW)
  Key Vendors   China Cord Blood Corporation (China),Cord Blood America, Inc. (U.S.),CBR Systems, Inc. (U.S.),Cordlife Group Limited (Singapore),Cryo-Cell International, Inc. (U.S.),Cryo-Save AG (Netherland),ViaCord, Inc. (U.S.),Virgin Health Bank (Qatar),California Cryobank Stem Cell Services LLC (U.S.),StemCyte, Inc. (India),Norton Healthcare, Inc. (U.S.),Lifeforce Cryobank Sciences Inc. (U.S.),Cordova (Brazil)
  Key Market Opportunities   Increasing investments in the sector.
  Key Market Drivers   Increasing prevalence of cancer and other genetic diseases


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Frequently Asked Questions (FAQ) :

Cord Blood Banking Services Market is projected to grow at an 13.2% CAGR between 2022-2030.

The Americas is expected to lead the Cord Blood Banking Services Market.

It is widely used in case of osteoporosis, immune disorders, cancers, and others.

Increasing use to treat chronic conditions and growing awareness about the treatment line are adding market growth.