The global cord blood banking services market size was US$ 1.4 billion in 2021. The global cord blood banking services market is forecast to grow to US$ 4.1 billion by 2030 by growing at a compound annual growth rate (CAGR) of 12.9% during the forecast period from 2022 to 2030. 

Cord blood is a rich source of stem cells, which can efficiently cure 80 genetic diseases. It is also used in the treatment of diabetes, cancer, blood diseases, and other chronic diseases. 

Factors Influencing the Market

• The wide applications of cord blood in the treatment of chronic diseases primarily drive the cord blood banking services market forward. 
• The rising prevalence of chronic diseases, combined with growing spending on healthcare, will fuel the growth of the global cord blood banking services market. For instance, a study by Leukemia Research Foundation says that there are nearly 761,659 patients suffering from Hodgkin’s or non-Hodgkin’s lymphoma in the United States.
• Growing investments by government authorities in order to support research and clinical trials will boost the growth of the global cord blood banking services market.
• Stringent regulatory requirements and ethical issues may limit the growth of the global cord blood banking services market. 

COVID-19 Impact Analysis

The wake of the COVID-19 pandemic has negatively affected the global cord blood banking services market. It is due to the halt in business operations for the short term. In addition, stringent government regulations to curb the spread of the disease have hampered the growth of the global cord blood banking services market. 

The market witnessed a shortage of raw materials and manpower due to imposed lockdown, which has been a significant challenge for the industry players. In addition to that, companies witnessed a shortage of new consignments, which ultimately affected the global cord blood banking services market. 

Regional Analysis

North America is forecast to dominate the cord blood banking services market in terms of revenue. It is owing to the rising awareness among the population related to effective cord blood treatment. 

Europe is forecast to hold the second-largest share due to high healthcare expenditure and growing support from government authorities to improve healthcare infrastructure. 

The Asia-Pacific market for cord blood banking services is forecast to register significant growth. It is due to rising investments in the healthcare sector. In addition, growing initiatives by international players to expand their geographical presence will boost the growth of the cord blood banking services market. 

Leading Competitors 

• AMAG Pharmaceuticals, Incorporated
• Americord Registry LLC
• China Cord Blood Corporation
• Cord Blood America
• Cordlife Group Limited
• cordvida
• Cryo-cell International
• Cryoholdco DE LatinoAMerica
• Esperite N.V.
• Lifeforce Cryobank Science Incorporated
• Other Prominent Players

Scope of the Report

The global natural foods and drinks market segmentation focuses on Storage Service, Component, Application, and Region.

By Storage Services

• Public Cord Blood Banks
• Private Cord Blood Banks

By Component

• Cord Blood
• Cord Tissue

By Application

• Cancer Disease
• Diabetes
• Blood Disease
• Immune Disorders
• Metabolic Disorders
• Others

By Region

• North America
• The U.S.
• Canada
• Mexico
• Europe
• Western Europe
• The UK
• Germany
• France
• Italy
• Spain
• Rest of Western Europe
• Eastern Europe
• Poland
• Russia
• Rest of Eastern Europe
• Asia Pacific
• China
• India
• Japan
• Australia & New Zealand
• ASEAN
• Rest of Asia Pacific
• Middle East & Africa (MEA)
• UAE
• Saudi Arabia
• South Africa
• Rest of MEA
• South America
• Brazil
• Argentina
• Rest of South America