Global Cord Blood Banking Services Market By Service (Collection & Transportation, Processing, Analysis, and Storage), By Component (Cord Tissue and Cord Blood), By Application (Diabetes, Cancer, Blood Disorder, Immune Disorder, Metabolic Disorder, and Others), By End-user (Hospitals, Pharmaceutical & Biotechnology Companies, and Academic & Research Institutes), Region and Companies – Industry Segment Outlook, Market Assessment, Competition Scenario, Trends and Forecast 2025-2034

Report Overview

Global Cord Blood Banking Services Market size is expected to be worth around US$ 54.8 billion by 2034 from US$ 27.1 billion in 2024, growing at a CAGR of 7.3% during the forecast period 2025 to 2034. In 2023, North America led the market, achieving over 39.6% share with a revenue of US$ 10.7 Billion.

Increasing awareness of the potential benefits of stem cell therapies and regenerative medicine is driving significant growth in the cord blood banking services market. The rising demand for stem cell-based treatments, particularly for conditions like leukemia, lymphoma, and other blood-related diseases, has created substantial opportunities for cord blood banks to expand their services.

As medical research continues to highlight the role of stem cells in treating various chronic and degenerative diseases, more individuals are opting to store their newborn’s umbilical cord blood for future medical use. Furthermore, advancements in stem cell research and cryopreservation technologies have contributed to improving the effectiveness and accessibility of cord blood storage. The market also benefits from the increasing shift toward personalized medicine, which uses stem cells to offer tailored treatments based on individual genetic profiles.

In May 2024, the Department of Health (DOH) and M42 launched the Abu Dhabi Biobank, the largest hybrid cord blood banking facility in the region, marking a pivotal moment in expanding stem cell accessibility. This initiative aims to enhance treatment processes, improve patient survival outcomes, and reduce healthcare costs by offering broader therapeutic options, further propelling the cord blood banking services market.

Key Takeaways

• In 2024, the market for Cord Blood Banking Services generated a revenue of US$ 1 billion, with a CAGR of 7.3%, and is expected to reach US$ 54.8 billion by the year 2033.
• The service segment is divided into collection & transportation, processing, analysis, and storage, with processing taking the lead in 2023 with a market share of 42.8%.
• Considering component, the market is divided into cord tissue and cord blood. Among these, cord blood held a significant share of 59.3%.
• Furthermore, concerning the application segment, the market is segregated into diabetes, cancer, blood disorder, immune disorder, metabolic disorder, and others. The cancer sector stands out as the dominant player, holding the largest revenue share of 36.4% in the Cord Blood Banking Services market.
• The end-user segment is segregated into hospitals, pharmaceutical & biotechnology companies, and academic & research institutes, with the hospitals segment leading the market, holding a revenue share of 51.7%.
• North America led the market by securing a market share of 39.6% in 2023.

Service Analysis

The processing segment led in 2023, claiming a market share of 42.8% owing to advancements in collection, transportation, processing, analysis, and storage techniques. This segment is anticipated to expand as the demand for higher quality stem cell processing and storage increases. Improved technologies in cryopreservation and cell processing are projected to contribute significantly to the market’s growth, making it easier to maintain the viability of stem cells for future medical use.

The increasing prevalence of genetic disorders and the rising number of patients requiring stem cell therapies further drive the demand for these advanced services. As regulatory standards tighten, companies in this segment are likely to focus on improving their processing techniques to meet the new requirements. The need for more efficient storage and transportation methods, especially in emerging markets, is also expected to support the growth of this segment.

Component Analysis

The cord blood held a significant share of 59.3% due to the increasing awareness of the potential applications of both cord blood and cord tissue. The segment is anticipated to expand as more expectant parents recognize the importance of storing cord blood stem cells, given their potential in treating various medical conditions. Improved research on cord tissue’s potential for regenerative therapies is likely to encourage further interest in this segment.

As the number of successful clinical trials involving cord blood stem cells continues to rise, the segment is projected to attract more investments, leading to better processing and storage techniques. The increasing adoption of private and public cord blood banks, alongside government initiatives supporting stem cell research, is expected to propel the growth of this component in the coming years.

Application Analysis

The cancer segment had a tremendous growth rate, with a revenue share of 36.4%. Researchers are increasingly focusing on the use of cord blood stem cells for the treatment of cancers, especially hematologic malignancies such as leukemia and lymphoma. The segment is projected to expand as advancements in immunotherapy and regenerative medicine lead to more clinical trials and success stories involving stem cells for cancer treatment.

As awareness of the potential of cord blood-derived therapies in oncology rises, healthcare professionals are likely to recommend cord blood banking for its potential in cancer treatments. Increased government funding and collaboration between private companies and academic institutions to explore cancer treatments using cord blood stem cells are expected to further boost this segment’s growth. The anticipated increase in cancer incidence globally is also likely to drive the demand for these services.

End-user Analysis

The hospitals segment grew at a substantial rate, generating a revenue portion of 51.7% due to the increasing use of stem cells for medical treatments and research. Hospitals are projected to account for a significant portion of the market as more healthcare institutions incorporate stem cell therapies into their treatment protocols. The growth is likely driven by the rising demand for regenerative medicine in various medical conditions, such as blood disorders, immune deficiencies, and cancers.

Additionally, advancements in stem cell research and therapy are expected to encourage hospitals to collaborate with cord blood banks to enhance their treatment offerings. The ongoing increase in the number of clinical trials involving stem cells and their application in hospitals is anticipated to further fuel this segment’s growth. Hospitals are expected to continue investing in stem cell-based therapies, thus expanding the demand for cord blood banking services in the coming years.

Key Market Segments

By Service

• Collection & Transportation
• Processing
• Analysis
• Storage

By Component

• Cord Tissue
• Cord Blood

By Application

• Diabetes
• Cancer
• Blood Disorder
• Immune Disorder
• Metabolic Disorder
• Others

By End-user

• Hospitals
• Pharmaceutical & Biotechnology Companies
• Academic & Research Institutes

Drivers

Growing Prevalence of Cancer Driving the Cord Blood Banking Services Market

The increasing prevalence of cancer, particularly leukemia, is driving the demand for cord blood banking services as individuals seek future treatment options. According to projections from the American Cancer Society in 2024, approximately 20,800 new cases of leukemia will be diagnosed in the US, with around 11,220 fatalities anticipated. This rising number of cancer diagnoses highlights the growing need for advanced treatments and research.

As leukemia and other cancers become more prevalent, the demand for stem cell therapies and cord blood usage for treatment intensifies. The possibility of using cord blood stem cells for the treatment of cancers such as leukemia and lymphoma fuels the need for cord blood storage. As healthcare professionals advocate for cord blood storage as a proactive measure, families are increasingly storing cord blood for its potential therapeutic applications.

Additionally, advancements in stem cell research and immunotherapy treatments are expected to continue boosting market demand. The expanding understanding of cord blood’s therapeutic potential, particularly for cancer treatment, ensures that its demand will continue to rise. As the global cancer burden grows, cord blood storage will remain a critical resource for cancer treatment and research.

Restraints

High Costs and Regulatory Complexities Restraining the Cord Blood Banking Services Market

High costs and regulatory complexities are significant factors restraining the growth of the cord blood banking services market. The financial burden of private cord blood storage, including high initial storage fees and ongoing maintenance costs, deters many families from using these services. Public cord blood banks, which offer free storage, face financial challenges in maintaining operations and expanding their reach.

Additionally, the regulatory environment surrounding the collection, processing, and storage of cord blood complicates the market further, with stringent regulations increasing operational costs. Families may also hesitate to invest in cord blood banking without a clear understanding of its long-term medical value, especially in countries where awareness is limited.

The competition from alternative stem cell sources, such as adult stem cells and induced pluripotent stem cells (iPSCs), further limits the demand for cord blood storage. While scientific advancements continue to reveal the potential uses of cord blood, concerns over the ethical implications of stem cell research and treatment efficacy pose additional challenges to the market. These factors contribute to the slow adoption and widespread use of cord blood banking services.

Opportunities

Increasing Focus on Stem Cell Therapies Creating Growth Opportunities for the Cord Blood Banking Services Market

The growing focus on stem cell therapies is creating significant growth opportunities for the cord blood banking services market. In March 2024, Cryo-Cell announced the formation of Celle Corp. as an independent entity, aiming to expand opportunities in regenerative medicine and stem cell therapies. The increasing awareness of stem cell therapies’ potential to treat various conditions, including cancers, neurological disorders, and cardiovascular diseases, is driving demand for cord blood storage.

As clinical trials and research into stem cell applications continue to progress, cord blood is becoming a more valuable resource for treating a range of diseases, from leukemia to heart disease. Families are increasingly choosing to store cord blood as a preventive measure, knowing that it may be used for potential future treatments. The rising interest in regenerative medicine and cell-based therapies encourages both healthcare providers and patients to view cord blood as an essential tool.

Moreover, the expansion of clinical trials focused on stem cell treatments provides further support for the market’s growth. As stem cell technologies continue to evolve and gain acceptance, the cord blood banking services market will see an increase in demand, offering vital resources for cutting-edge treatments and therapies.

Impact of Macroeconomic / Geopolitical Factors

Macroeconomic and geopolitical factors significantly influence the cord blood banking services market. On the positive side, increasing healthcare investments and growing awareness of stem cell therapies fuel the demand for cord blood banking, especially in emerging markets where healthcare infrastructure is improving.

Rising healthcare costs and the search for cost-effective, long-term treatments also contribute to the growing interest in cord blood stem cells, as they provide potential solutions for various diseases. Geopolitical factors, including government policies and regulations regarding stem cell research and banking, play a crucial role in market expansion.

However, challenges such as ethical concerns, regulatory hurdles, and lack of standardization in banking practices can limit market growth. Despite these hurdles, the market is poised to continue growing, driven by increased recognition of the value of stem cells in medical treatments and advancements in scientific research.

Latest Trends

Surge in R&D Activities Driving the Cord Blood Banking Services Market:

High research and development activities in the field of stem cell research are driving the growth of the cord blood banking services market. The increasing number of studies exploring the potential applications of cord blood stem cells in treating genetic disorders, cancers, and autoimmune diseases is expected to push the demand for cord blood storage.

Medical research institutions and healthcare providers are increasing investments in the exploration of cord blood-based therapies, recognizing its potential in regenerative medicine. This surge in R&D activities is anticipated to yield groundbreaking advancements, providing new avenues for the application of cord blood transplants.

In March 2023, medical researchers at NewYork-Presbyterian Hospital achieved a significant breakthrough in HIV treatment by successfully inducing remission in a patient through a cord blood stem cell transplant. This advancement highlights the growing promise of cord blood stem cells, which is expected to further stimulate the market’s growth.

Regional Analysis

North America is leading the Cord Blood Banking Services Market

North America dominated the market with the highest revenue share of 39.6% owing to the rising awareness of the therapeutic potential of stem cells and advancements in regenerative medicine. Increased public and private investments in stem cell research and regenerative therapies fueled the demand for cord blood banking services. The growing number of expectant parents choosing to store their newborn’s cord blood for potential medical use contributed to market expansion.

In April 2022, Global Cord Blood Corporation announced its plan to fully acquire Cellenkos, Inc., acquiring rights to develop and commercialize its product pipeline. This acquisition highlights the strategic moves of key players to strengthen their portfolios and expand market reach.

Additionally, the growing number of cord blood transplants in the treatment of diseases like leukemia and lymphoma further boosted demand. Moreover, healthcare advancements and regulatory support continued to enhance the adoption of cord blood banking services across North America.

The Asia Pacific region is expected to experience the highest CAGR during the forecast period

Asia Pacific is expected to grow with the fastest CAGR owing to the increasing healthcare investments and rising awareness of stem cell therapies. Countries like China, India, and Japan are anticipated to show the highest growth, with an increasing number of healthcare providers expanding their stem cell and regenerative medicine offerings.

The region is projected to see a rise in the number of parents opting for cord blood storage as a preventive healthcare measure for future treatments. In October 2024, scientists at Cordlife Group Limited unveiled a machine-learning model designed to predict the quantity of CD34+ cells in cord blood samples. This technological advancement is likely to optimize cord blood selection and enhance transplant success rates, further strengthening the market.

The integration of AI and data-driven approaches is expected to significantly impact the efficiency and quality of cord blood banking, making services more appealing to a larger consumer base. As the market matures, healthcare regulations and collaborations with biotech firms will also drive continued growth in the region.

Key Regions and Countries

North America

• US
• Canada

Europe

• Germany
• France
• The UK
• Spain
• Italy
• Russia
• Netherland
• Rest of Europe

Asia Pacific

• China
• Japan
• South Korea
• India
• Australia
• New Zealand
• Singapore
• Thailand
• Vietnam
• Rest of APAC

Latin America

• Brazil
• Mexico
• Rest of Latin America

Middle East & Africa

• South Africa
• Saudi Arabia
• UAE
• Rest of MEA

Key Players Analysis

Key players in the cord blood banking services market focus on expanding their service offerings by incorporating advanced stem cell therapies, genetic testing, and enhanced storage technologies. Companies invest in educating the public about the medical potential of stem cells, particularly in treating genetic disorders, cancers, and autoimmune diseases.

Strategic collaborations with healthcare providers and research institutions help improve service access and raise awareness. Many players also prioritize geographic expansion to reach emerging markets with growing healthcare infrastructure. Emphasis on regulatory compliance and the development of cutting-edge preservation methods further strengthens market presence.

Cord Blood America, Inc. is a prominent player in this market, offering both public and private cord blood banking options. The company focuses on providing high-quality stem cell storage and expanding its portfolio of related services, such as tissue banking. Cord Blood America’s commitment to innovation, safety, and customer education positions it as a key player in the industry.

Top Key Players

• NMDP Biosciences
• Medipost
• LifeCell International
• FamiCord Group
• Cryoviva
• Cordlife Group
• BioLife Solutions
• Babycell

Recent Developments

• In July 2024, NMDP Biosciences, in collaboration with the Cord Blood Bank Alliance (CBBA), introduced a new initiative to provide pre-screened cord blood units tailored for advanced cell therapy applications. These units are particularly optimized for the development of natural killer (NK) cell-based treatments, contributing to the growing field of immunotherapy.
• In September 2024, Cordlife Group reestablished its cord blood banking operations in Singapore with the launch of an upgraded processing and storage facility. This new center integrates advanced laboratory monitoring technology and improved operational procedures to enhance safety and efficiency in cord blood preservation.

Report Scope