PUBLISHER: IMARC | PRODUCT CODE: 1722853
PUBLISHER: IMARC | PRODUCT CODE: 1722853
The global cord blood banking services market size was valued at USD 2.02 Billion in 2024. Looking forward, IMARC Group estimates the market to reach USD 4.57 Billion by 2033, exhibiting a CAGR of 9.02% during 2025-2033. North America currently dominates the market, holding a significant market share of over 33.8% in 2024. The market is growing due to rising awareness about stem cell therapies, increasing prevalence of genetic disorders, advancements in regenerative medicine, government initiatives, and growing adoption of private banking. Moreover, the improved storage technologies, rising healthcare expenditure, expanding research applications, and increasing childbirth rates in key regions are some of the other factors fueling the cord blood banking services market share.
Cord blood banking is a procedure of collecting and storing life-saving stem cells from the umbilical cord and placenta for future use. It uses hematopoietic stem cells that are present in the cord blood of the baby to develop it into red blood cells (RBCs), white blood cells (WBCs) and platelets. It aids in the treatment of cancer, blood diseases and immune system disorders as cord blood banking is less complicated, painful and risky for the donor compared to the collection of stem cells from bone marrow. As a result, it finds extensive applications in hospitals, research institutes, and specialty clinics.
The growing prevalence of different cancers, such as lymphoma and leukemia, due to longer working hours, stressful lives, and excessive smoking and alcohol consumption represents one of the key factors driving the market. Moreover, there is an increase in the utilization of cord blood banking services for the treatment of immunodeficiency disorders across the globe. This, coupled with the increasing awareness among individuals about the benefits and wide availability of cord blood banking service providers, is propelling the growth of the market. In addition, governments of several countries are extensively investing in research and development (R&D) activities to facilitate clinical trials of cord blood stem cells. In line with this, the growing number of patients with damaged bone marrow worldwide is positively influencing the market. Besides this, the rising diagnostic screening of cord blood in private centers as per guidelines and regulations of regulatory authorities is offering lucrative growth opportunities to industry investors. Additionally, the expanding healthcare industry is strengthening the growth of the market.
The competitive landscape of the industry has also been examined along with the profiles of the key players being Alphacord LLC, Americord Registry LLC, ATCC, California Cryobank, Cordlife Group LImited, Cryo-Cell International Inc., Global Cord Blood Corporation, LifeBank, LifeCell International Pvt. Ltd., National Cord Blood Program, Norton Healthcare Inc., Perkinelmer Inc. and StemCyte India Therapeutics Pvt. Ltd.