Market Size in 2021 | Market Forecast in 2028 | CAGR (in %) | Base Year |
---|---|---|---|
USD 14.5 Billion | USD 21.4 Billion | 5.2% | 2021 |
FrequentlyAsked Questions
Growing incidence of blood disorders to foster market growth. Additionally, the development of the sector will be positively impacted by supportive government efforts, quickly advancing healthcare infrastructure, and increased R&D for the treatment and diagnostics of different blood diseases.
According to the Zion Market Research report, the global umbilical cord blood banking market was worth about 14.5 (USD billion) in 2021 and is predicted to grow to around 21.4 (USD billion) by 2028, with a compound annual growth rate (CAGR) of around 5.2 percent.
Geographically, North America is estimated to lead the global umbilical cord blood banking market during the forecast period. The major market for UCB banking in the region is the United States, followed by Canada. Also, the main factor driving the market is the rising frequency of chronic conditions. Initiatives taken by different government organizations have also increased regional awareness of the value of cord blood donation.
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.
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