by 
The global Cord Blood Banking Services Market is estimated to be valued at US$ 33.8 Bn in 2023 and is expected to exhibit a CAGR of 6.1% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Cord blood banking services involves the collection, processing, testing, freezing and storing of umbilical cord blood for potential future use. Umbilical cord blood contains stem cells that can be utilized for treatment of diseases such as leukemia, lymphoma and other blood disorders. Cord blood is collected from umbilical cord and placenta after the birth of a child and stored in cord blood banks for potential use by the newborn in his/her life or first degree relatives in case their bone marrow fails. Cord blood storage provides an alternative treatment to bone marrow transplantation.
Market key trends:
One of the key trends in the cord blood banking services market is increasing utilization of cord blood stem cells in regenerative medicine applications. Research activities exploring the potential use of cord blood stem cells in treatment of various diseases such as diabetes, myocardial infarction and neurological disorders are growing owing to cord blood stem cells differentiation potential into various cell types. Expansion in the clinical applications of cord blood stem cells as a treatment option is expected to drive the demand for cord blood banking over the forecast period.
Porter’s Analysis
Threat of new entrants: Low- The cord blood banking industry requires significant initial capital investments to set up laboratory facilities and storage operations. The established players also enjoy economies of scale advantages.
Bargaining power of buyers: Moderate – Individual consumers have low bargaining power due to the need for cord blood storage services. However, larger institutions such as hospitals can negotiate better pricing.
Bargaining power of suppliers: Low – Suppliers of cord blood collection kits and storage equipment have limited influence due to the availability of substitutes.
Threat of new substitutes: Low – No viable alternatives currently exist for cord blood storage and banking. New cell therapies may emerge as substitutes over the long run.
Competitive rivalry: High – The global cord blood banking market is highly competitive due to the presence of several large international players. Companies compete based on pricing, quality, new service offerings and geographic expansion.
Key Takeaways
The global cord blood banking services market is expected to witness high growth, exhibiting CAGR of 6.1% over the forecast period, due to increasing preference for cord blood banking as a precautionary measure against life threatening diseases.
Regional analysis: North America dominates the global cord blood banking services market currently, owing to high adoption of stem cell therapies. However, Asia Pacific region is expected to witness fastest growth over the forecast period supported by rising healthcare expenditures, increasing birth rates and growing awareness in countries like China and India.
Key players: Key players operating in the cord blood banking services market size are China Cord Blood Corporation, Cord Blood America, Inc., CBR Systems, Inc., Cordlife Group Ltd., Cryo-Cell International, Inc., StemCyte, Inc., Americord Registry, Cryo-Save Group AV, NeoStem, Inc., Blood Centers of America, and ViaCord, Inc. China Cord Blood Corporation is currently the market leader in terms of storage capacity and revenues.
