Global Umbilical Cord Blood Banking Market Is Expected To Grow At A CAGR Of 5.2% During The Forecast Period

The global umbilical cord blood banking market was worth around USD 14.5 billion in 2021 and is estimated to grow to about USD 21.4 billion by 2028, with a compound annual growth rate (CAGR) of approximately 5.2 percent over the forecast period. The blood that stays in the placenta and umbilical cord after birth is known as cord blood (brief for umbilical cord blood). Maternal-fetal cell transfer occurs at or close to term to strengthen both the mother and the fetal immune systems in advance of labor. As a result, cord blood at the time of birth is an excellent source of immune system cells and stem cells. The procedure of collecting cord blood, removing the immune system's stem cells & other cells, and then cryogenically freezing them is known as umbilical cord blood banking.

The global market for umbilical cord blood banking market was negatively impacted during the COVID-19 pandemic period. This is mainly attributed to the disruption of blood component services across the world. Major players operating in the field faced a drop in revenue due to budget constraints and a lack of willingness to store stem cells. Shortage of storage equipment and labor force also affected the revenue generation in 2020.

The global umbilical cord blood banking market is significantly benefited from the increasing utilization of regenerative medicines or stem cell therapy. Following organ transplantation, stem cell therapy has frequently been recommended as the next step. They are known as regenerative therapies because they encourage the sick cells' ability to mend themselves. As they can produce a healthy line of cells that are devoid of any disease or infection, the following cells are employed in place of the donor's organs. These cells are grown by researchers in their labs and then used to create several kinds of specialized cells. They can be used and administered into the heart muscle, for instance, if a patient has cardiac problems. The healthy cell line may be able to replace the cardiac cells that are damaged, thereby lengthening life expectancy. Stem cell therapy can easily fill the gap between organ transplant demand and supply. For instance, in the USA, there was a need for almost 100,000 kidney transplants, but only about 20,000 people received them. Stem cell therapy can meet the demand for the remainder, expanding the market for stem cell banking. However, the high cost associated with the storage of cord blood cells for a longer period may hamper the market growth. Furthermore, a reduction in efficiency during long-time storage poses a major challenge to market growth.

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 and storage.

Recent Developments

• In August 2019, Cordlife expanded its business in Bangladesh. This strategy helped the business increase its market share and broaden its geographic reach.
• In October 2021, CRYO-CELL, a leader in cord blood banking, announces its plan to speed up clinical trials. Cryo-Cell obtained exclusive commercial rights to a variety of intellectual property assets and FDA regulatory data regarding several cord blood and cord tissue-derived cell therapy products that had successfully completed Phase 1/Phase 2 clinical trials as a matter of fact of the unique authorization agreement signed with Duke University on February 26, 2021.

In 2021, North America enjoyed a commanding 42 percent market share for stem cell banking when compared to the other regions, thus leading the global umbilical cord blood banking market. It is mainly driven by the region's increasing rates of cancer and other neurological disorders. For instance, almost 1.9 million people in the U.S. received cancer diagnoses, and post-cancer stem cell therapy is frequently suggested as it aids in repairing damaged cells. Chemotherapy and other treatments have destroyed the cells. The prevalence of Parkinson's disease is also high in the nation, and continuous research has aided the market for stem cell banking in several different applications. However, during the projected, Asia-Pacific is expected to present profitable market prospects for market expansion. It is due to a constant increase in new participants choosing services like stem cell banking. Furthermore, governmental organizations have promoted the startup culture in the healthcare industry, which enables the creation of new treatments that, in turn, promote the expansion of stem cells.

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 are some of the leading players successfully operating in the global umbilical cord blood banking market..

Browse the full “Umbilical Cord Blood Banking Market By Storage Option (Private UCB Banks and Public UCB Banks), By Application (Metabolic Disorder, Bone Marrow Failure Syndrome, Leukemia, Immune Deficiencies, and Lymphoma), By Service Type (Sample Collection & Transportation, Sample Processing, Sample Analysis, Sample Preservation, and Storage), and By Region – Global and Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, and Forecasts 2022 – 2028.” Report at https://www.zionmarketresearch.com/report/umbilical-cord-blood-banking-market

Global umbilical cord blood banking market is segmented as follows:

By Storage Option

• Public UCB banks
• Private UCB banks

By Application

• Leukemia
• Bone marrow failure syndrome
• Metabolic disorder
• Lymphoma
• Immune deficiencies

By Service Type

• Sample Preservation & Storage
• Sample Analysis
• Sample Processing
• Sample Collection & Transportation

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa

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