Cord Blood Bank Services Market: Current Analysis and Forecast (2022-2030)

Report Description

The cord blood banking services market was valued at USD 1.6 billion in the year 2022 and is expected to grow at a strong CAGR of around 11.5% during the forecast period owing to the increasing cases of cancer and other rare genetic disorders worldwide. Moreover, mergers & acquisitions among companies and the funding provided by key investors are surging the cord blood bank services market at an enormous pace. For instance, in November 2019, CBR Systems, Inc., in collaboration with Sema4, a health intelligence company, launched ReadyGen, a genetic screening test that analyses a child’s DNA for more than 200 conditions that can affect children before the age of 10. These types of products will help doctors to detect various diseases in children. Also, the new research to cure various diseases will boost the cord blood banking services market. Moreover, the increasing government initiatives for providing funds, grants, and contracts for research and development activities in different therapeutic areas have accelerated the growth of the cord blood bank services market. This has resulted in widening the services of cord blood banks, across the world during the forecast period. For instance, in December 2019, China’s National Health Commission issued a new policy allowing the relevant Provincial Health Commissions to approve cord blood bank licenses in 18 pilot Free Trade Zones in China.

Some of the major players operating in the market include CBR Systems Inc.; China Cord Blood Corporation; Americord Registry LLC; Cordlife Sciences India Pvt. Ltd.; Cryo-Cell International Inc.; CSG-BIO; Vita 34, Inc.; CordVida; ViaCord Inc.; and Virgin Health Bank Several M&As along with partnerships have been undertaken by these players to facilitate customers with hi-tech and innovative products/technologies.

Insights Presented in the Report

“Amongst component, the cord blood segment dominated the market in 2022.”

Based on component, the market is segmented into cord blood, cord tissue, placenta, and others. Amongst these, the cord blood segment dominated the market in 2022. This is mainly due to the increasing number of cord blood transplants, growing awareness of the benefits of cord blood banking, and advancements in cord blood storage and processing technologies. Also, cord blood transplants are used to treat a range of blood disorders, such as leukemia and lymphoma, and are an alternative to bone marrow transplants. The number of cord blood transplants has been increasing over the years, and this trend is expected to continue in the future which will boost the growth of the market.

“Amongst application, the cancer category captured the majority share of the cord blood banking services market in 2022.”

By application, the market is segmented into cancer, blood disorders, metabolic disorders, osteoporosis, immunodeficiency disorders, and bone marrow failure syndrome. Among these, the cancer category captured the majority share of the cord blood banking services market in 2022 owing to the growing awareness among expectant parents about the potential benefits of cord blood banking, such as stem cell therapies, which is driving the demand for these services. Also, increasing investment and R&D activities by governmental or private organizations further drives the growth of the market. For instance, Cancer Research Institute funded more than 120 clinical trials and invested around USD 474 million in research in 2020.

“North America holds the highest segment for the cord blood bank services market in 2022”

North America holds the highest segment for the cord blood bank services market in 2022, and it is assumed to remain similar during the forecast period. As it holds the superior healthcare infrastructure and the key companies across the globe. North America comprises the US, Canada, and other American countries and forms the largest market of cord blood bank services with well-established healthcare industries, cord blood banks, substantial investments, and a high focus on research and development. Also, the rising cases of chronic diseases like cancer, diabetes, and cardiovascular diseases in this region is one of the major factors to boost the growth of the cord blood bank services market over the forecast period. For instance, according to the Globocan 2020 report, an estimated 2,281,658 new cancer cases were diagnosed in the United States, with nearly 612,390 deaths. The most common cancers were breast (253,465), lung (227,875), prostate (209,512), and colon (101,809) in the U.S.

Cord Blood Banking Services Market Report Coverage

Reasons to buy this report:

• The study includes market sizing and forecasting analysis validated by authenticated key industry experts.
• The report presents a quick review of overall industry performance at one glance.
• The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolios, expansion strategies, and recent developments.
• Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry.
• The study comprehensively covers the market across different segments.
• Deep dive regional level analysis of the industry.

Customization Options:

The global cord blood banking services market can further be customized as per the requirement or any other market segment. Besides this, UMI understands that you may have your own business needs, hence feel free to contact us to get a report that completely suits your requirements.

You can also purchase parts of this report. Do you want to check out a section wise
price list?

Get in touch with team

Research Methodology

Research Methodology for the Cord Blood Banking Services Market Analysis (2022-2030)

Analyzing the historical market, estimating the current market, and forecasting the future market of the global Cord Blood Banking Services Market were the three major steps undertaken to create and analyze the adoption of smart homes in major regions globally. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the global Cord Blood Banking Services Market. Post assumption and validation of market numbers through primary interviews, we employed a top-down/bottom-up approach to forecasting the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments of the industry pertains to. Detailed methodology is explained below:

Analysis of Historical Market Size

Step 1: In-Depth Study of Secondary Sources:

Detail secondary study was conducted to obtain the historical market size of the Cord Blood Banking Services Market through company internal sources such as annual reports & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.

Step 2: Market Segmentation:

After obtaining the historical market size of the Cord Blood Banking Services Market, we conducted a detailed secondary analysis to gather historical market insights and share for different segments & sub-segments for major regions. Major segments are included in the report as storage services, component, application, and end-user. Further country-level analyses were conducted to evaluate the overall adoption of testing models in that region.

Step 3: Factor Analysis:

After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of the Cord Blood Banking Services Market. Further, we conducted factor analysis using dependent and independent variables such as storage services, component, application, and end-user of the Cord Blood Banking Services Market. A thorough analysis was conducted for demand and supply-side scenarios considering top partnerships, mergers and acquisitions, business expansion, and product launches in the Cord Blood Banking Services Market sector across the globe.

Current Market Size Estimate & Forecast

Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the global Cord Blood Banking Services Market, and market shares of the segments. All the required percentage shares split and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.

Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., the top-down/bottom-up approach were applied to arrive at the market forecast for 2030 for different segments and sub-segments across the major markets globally. The research methodology adopted to estimate the market size encompasses:

• The industry’s market size, in terms of revenue (USD) and the adoption rate of the Cord Blood Banking Services Market across the major markets domestically
• All percentage shares, splits, and breakdowns of market segments and sub-segments
• Key players in the global Cord Blood Banking Services Market in terms of products offered. Also, the growth strategies adopted by these players to compete in the fast-growing market

Market Size and Share Validation

Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.

Split of Primary Participants in Different Regions

Market Engineering

The data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers for each segment and sub-segment of the global Cord Blood Banking Services Market. data was split into several segments & sub-segments post studying various parameters and trends in the areas of the storage services, component, application, and end-user in the global Cord Blood Banking Services Market.

The main objective of the Global Cord Blood Banking Services Market Study

The current & future market trends of the global Cord Blood Banking Services Market were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments on the qualitative and quantitative analysis performed in the study. Current and future market trends determined the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit from a first-mover advantage. Other quantitative goals of the studies include:

• Analyze the current and forecast market size of the Cord Blood Banking Services Market in terms of value (USD). Also, analyze the current and forecast market size of different segments and sub-segments
• Segments in the study include areas of the storage services, component, application, and end-user
• Define and analysis of the regulatory framework for the smart home industry
• Analyze the value chain involved with the presence of various intermediaries, along with analyzing customer and competitor behaviors of the industry
• Analyze the current and forecast market size of the Cord Blood Banking Services Market for the major region
• Major countries of regions studied in the report include Asia Pacific, Europe, North America, and the Rest of the World
• Company profiles of the Cord Blood Banking Services Market and the growth strategies adopted by the market players to sustain in the fast-growing market
• Deep dive regional level analysis of the industry

You can also purchase parts of this report. Do you want to check out a section wise
price list?

Get in touch with team