Cord Blood Banking Services Market Size is estimated to reach $3.6 billion by 2027. Furthermore, it is poised to grow at a CAGR of 11.8% over the forecast period of 2022-2027. The blood that remains in the placenta and umbilical cord after a baby is born is known as cord blood. It is rich in blood stem cells, similar to those found in bone marrow, and these can be used to treat many different cancers, immune deficiencies, and genetic disorders.
Competitive Landscape:
The top 5 players in the Cord Blood Banking Services industry are –
1. AMAG Pharmaceuticals, Inc.
2. Americord Registry LLC
3. China Cord Blood Corporation
4. Cordvida
5. Cord Blood America
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Segmental Analysis:
1. Cord Blood is estimated to be the fastest-growing with a CAGR of 12.9% over the forecast period of 2022-2027 owing to hematopoietic stem cells which have the ability to form any type of any kind of blood cell.
2. Cord Blood Banking Services Market based on Geography can be further segmented into North America, Europe, Asia-Pacific, South America, and the Rest of the World. North America held a dominant market share of 39% in the year 2021, owing to the increasing prevalence of leukemia in the U.S.
3. Cord Blood Banking Services Market based on components can be further segmented into Cord Blood, and Cord Tissue. Cord Tissue segment which is found in the umbilical cord held a dominant share in 2021.
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Report Coverage |
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Report Attributes |
Details |
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By Services |
Sample Preservation and Storage, Sample Analysis, Sample Processing, Sample Collection, Transportation |
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By Application |
Cancer, Diabetics, Blood Disease, Immune Disorder, Metabolic Disorder |
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By Component |
Cord Blood and Cord Tissue |
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By Geography |
North America, Europe, Asia-Pacific, South America and Rest of World |
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Market Drivers and Challenges:
1. Outbreak of the Covid-19 pandemic, most countries around the world are focusing on developing better healthcare infrastructure to face any such situation in the future.
2. According to WHO, in 2020 about 10 million deaths and nearly 1 in 6 deaths happened due to cancer. Such increasing prevalence of cancer is driving Cord Blood Cell Service Market.
3. As per leukemia and lymphoma society, every 3 minutes, 1 person in the US is diagnosed with leukemia, lymphoma, or myeloma, and every 9 minutes, 1 patient in the U.S. dies from blood cancer in 2021.
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