Umbilical Cord Blood Banking Market Outlook | 2031

Umbilical Cord Blood Banking Market Size and Forecast (2021 - 2031), Global and Regional Share, Trend, and Growth Opportunity Analysis Report Coverage: By Bank Type (Public and Private), Service (Storage and Processing), End User (Hospitals, Research Institutes, and Others), and Geography (North America, Europe, Asia Pacific, Middle East & Africa, and South & Central America)

  • Report Code : TIPHE100001334
  • Category : Biotechnology
  • No. of Pages : 150
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The umbilical cord blood banking market forecast can help stakeholders in this marketplace plan their growth strategies. The market is projected to grow from US$ 3.4 billion in 2023 to US$ 7.8billion by 2031; the market is estimated to record a CAGR of 11.0% during 2021–2031.

Factors such as the increasing use of umbilical cord blood in genetic rare disease research and treatment propel the umbilical cord blood banking market growth. However, product recalls impede market growth.

Growth Drivers:

Increasing Use of Cord Blood in Genetic Rare Disease Research and Treatment Drives Umbilical Cord Blood Banking Market Growth

Cord blood banking involves collecting and storing the blood from the post-operative umbilical cords of newborns. This blood is enriched with stem cells that can be potentially used to treat over 80 conditions and diseases. As per the US Food and Drug Administration (FDA), stem cells can be used in the treatment of numerous types of malignancies, anemias, inherited metabolic disorders, and immune system deficiencies. Therefore, researchers are conducting several R&D activities associated with treating rare genetic diseases. According to a report published by Med Cells International FZ LLC in 2024, umbilical cord blood can be safely used to treat a wide range of rare genetic diseases, including Hunter syndrome, sickle cell disease, thalassemia, and Krabbe disease. Stem cell treatments for these conditions are not always available at all hospitals, mainly because of sparse incidences of these conditions. The development of umbilical cord blood banks helps patients gain access to affordable and specialized treatments.

The clinical research by the UPMC Children's Hospital of Pittsburg wanted to develop if umbilical cord blood can successfully treat rare genetic diseases. The main aim of the clinical study was to check if umbilical cord as individual therapies can treat rare diseases instead of developing individual therapies for each rare disease with different rare genetic disorders. Trials were conducted on 44 children suffering from various genetic disorders. Each child received low doses of chemotherapy and immunosuppressant drugs at the start of the trial. The instillation of chemotherapy drugs reduced the activity of the immune system, opening new opportunities for the upcoming stem cell transfusion. Later, the researchers administered a single injection of umbilical cord blood stem cells into each participant to reset the immune system. After a couple of weeks, the participants were administered the second stem cell transfusion, followed by a thorough assessment. At the start of the trial, 30 out of 44 participants had metabolic disorders such as leukodystrophies. Leukodystrophies cause dysfunction in the spinal cord, brain, and peripheral nerves, resulting in abnormal development and eventual damage to the brain cells. After receiving a cord blood transplant, all 30 children showed improvements in brain function, with discontinuation in abnormal brain development. Further, 90% of participants in the study suffering from leukodystrophy survived after 3 years of cord blood transplant, which proves to be a positive indication of the treatment's effectiveness. As a result, researchers involved in the “Blood Advances” study confirmed that new cord blood transplants could be utilized to treat 20 rare diseases.

Thus, the availability of clinical evidence supporting the use of umbilical cord blood transplantation in treating rare diseases has a positive impact on the umbilical cord blood banking market size.

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Umbilical Cord Blood Banking Market: Strategic Insights

Umbilical Cord Blood Banking Market

  • CAGR (2021 - 2031)
    11.0%
  • Market Size 2023
    US$ 3.4 Billion
  • Market Size 2031
    US$ 7.8 Billion

Market Dynamics

GROWTH DRIVERS
  • Increasing use of umbilical cord blood in genetic rare disease research
FUTURE TRENDS
  • Use of Umbilical cord Bank Cells as Regenerative Disease
OPPORTUNITIES
  • Supportive Government Initiative

Key Players

  • Cordlife India
  • Biocell
  • CryoStemcell
  • NovaCord
  • LifeCell
  • HÉMA-QUÉBEC
  • Atlantic Health System
  • WMDA
  • CryoViva Singapore
  • ViaCord, Inc.

Regional Overview

  • North America
  • Europe
  • Asia-Pacific
  • South and Central America
  • Middle East and Africa

Market Segmentation

Bank Type
  • Public and Private
Service
  • Storage and Processing
End User
  • Hospitals
  • Research Institutes
  • Others
Geography
  • North America
  • Europe
  • Asia-Pacific
  • South and Central America
  • Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.

Report Segmentation and Scope:

The “umbilical cord blood banking market analysis” has been carried out by considering the following segments: bank type, service, and end user.

Segmental Analysis: Umbilical Cord Blood Banking Market

By bank type, the market is segmented into public and private. The public segment held a larger umbilical cord blood banking market share in 2023 The private segment is anticipated to register the highest CAGR of 11.0% during the forecast period. Public umbilical cord blood banks collect, process, and store blood units intended for allogeneic transplantation. These banks are often financed by national health systems to altruistically store cord blood donated by parents for potential use by any patient in need. As a result, these blood banks are subjected to national regulations, with mandates to follow strict protocols to ensure the safety and quality of cord blood units along with high cell density. Therefore, public umbilical cord blood banking plays a vital role in essential and rare disease treatments.

Market Trend

Use of Umbilical Cord Blood Bank Cells as Regenerative Medicine

The field of regenerative medicine involves the study of repairing, replacing, or regenerating damaged human cells, tissues, and organs to restore and establish normal function. The ultimate goal of regenerative medicine is to develop methods to treat untreatable human conditions and improve overall clinical outcomes of injuries and diseases for which traditional therapies are inadequate. Umbilical cord blood serves as a source of cells in the development of regenerative therapies. It is also a well-established source of cells intended for hematopoietic stem cell transplantation (HSCT). Moreover, this blood is more readily available and is less likely to transmit infections.

Table: Clinical Trials Registered With Clinicaltrails.gov to Investigate Cord Blood and Cord Blood-Derived Products for Regenerative Purposes

Category

No. of Studies

Cell Source

Cell Type

ROA

Clinical Phase

Auto

Allo

TNC/MNCs

MSCs

Others

IV

Direct Inj

Others

1

2

3

NR

Neurology

18

8

11

14

3

1

13

5

0

6

10

1

1

Hematology/Oncology

6

0

6

0

0

6

6

0

0

5

1

0

0

Endocrinology

4

0

4

0

2

2

2

1

1

0

3

0

1

Pulmonary

4

0

4

0

4

0

1

1

2

2

2

0

0

Dermatology

3

0

3

1

2

0

2

0

0

1

2

0

0

Infectious Disease

3

1

2

2

1

0

3

0

0

1

0

0

2

Cardiovascular

2

1

1

1

1

0

0

1

1

1

1

0

0

Gastroenterology

2

0

2

0

1

1

2

0

0

0

1

1

0

Ophthalmology

2

0

2

0

0

2

0

0

2

0

1

0

1

Orthopedics

2

0

2

0

2

0

0

2

0

0

1

0

1

Others

4

1

3

2

1

1

3

0

1

3

0

1

0

Total

50

11

40

20

17

13

32

10

7

19

22

3

36

Note: Auto =Autologous , Allo = Allogenic, TNC = Total Nucleated Cells, MNC =Mononuclear Cells , MSC = Mesenchymal Stem Cells, ROA=Route of Administration, IV = Intravenous, Inj = Injection,

Source: The Insight Partners Analysis

Clinical studies of cord blood as a regenerative therapy are concentrated in Asia and the US. Studies focus on its use in managing clinical indications such as pulmonary diseases, infertility diseases, and orthopedic conditions, with neurological conditions, including stroke, cerebral palsy, and hypoxic-ischemic encephalopathy, being the most common areas of investigation. Thus, advancements in regenerative medicine are likely to bring new umbilical cord blood banking market trends in the coming years.

Regional Analysis:

The geographic scope of the umbilical cord blood banking market report encompasses North America, Europe, Asia Pacific, South & Central America, and the Middle East & Africa. In 2022, North America held the largest umbilical cord blood banking market share. The US is the largest contributor to the market in North America for umbilical cord blood banking. The market growth in this region is driven by the availability of a large number of public cord blood banking services, and governments providing support in the form of funding and favorable regulations.

Umbilical Cord Blood Banking Market Report Scope

Report Attribute Details
Market size in 2023 US$ 3.4 Billion
Market Size by 2031 US$ 7.8 Billion
Global CAGR (2021 - 2031) 11.0%
Historical Data 2021-2022
Forecast period 2024-2031
Segments Covered By Bank Type
  • Public and Private
By Service
  • Storage and Processing
By End User
  • Hospitals
  • Research Institutes
  • Others
Regions and Countries Covered North America
  • US
  • Canada
  • Mexico
Europe
  • UK
  • Germany
  • France
  • Russia
  • Italy
  • Rest of Europe
Asia-Pacific
  • China
  • India
  • Japan
  • Australia
  • Rest of Asia-Pacific
South and Central America
  • Brazil
  • Argentina
  • Rest of South and Central America
Middle East and Africa
  • South Africa
  • Saudi Arabia
  • UAE
  • Rest of Middle East and Africa
Market leaders and key company profiles
  • Cordlife India
  • Biocell
  • CryoStemcell
  • NovaCord
  • LifeCell
  • HÉMA-QUÉBEC
  • Atlantic Health System
  • WMDA
  • CryoViva Singapore
  • ViaCord, Inc.
    • Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.

    Industry Developments and Future Opportunities:

    A few strategic developments by leading players operating in the umbilical cord blood banking market are listed below:

    • In April 2023, the US FDA announced the approval of OMISIRGE’s expanded cord blood products intended for use in stem cell transplantation. The approval by the US FDA has the potential to transform the field of regenerative medicine, proving effective in patients aged 12 and above suffering from high-risk blood cancers and other hematological disorders.

    Competitive Landscape and Key Companies:

    Cordlife India, Biocell, CryoStemcell, NovaCord, LifeCell, HÉMA-QUÉBEC, Atlantic Health System, WMDA, CryoViva Singapore, and ViaCord, Inc. are among the prominent companies profiled in the umbilical cord blood banking market report. These companies focus on developing new technologies, upgrading existing products, and expanding their geographic presence to meet the growing consumer demand worldwide.

    Report Coverage
    Report Coverage

    Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends

    Segment Covered
    Segment Covered

    This text is related
    to segments covered.

    Regional Scope
    Regional Scope

    North America, Europe, Asia Pacific, Middle East & Africa, South & Central America

    Country Scope
    Country Scope

    This text is related
    to country scope.

    Frequently Asked Questions


    Which application segment dominates the umbilical cord blood banking market?

    The market, by service, is categorized into storage and processing. The storage segment held the largest menopause market share in 2023, and it is anticipated to register the highest CAGR during the forecast period.

    Which product segment dominates the umbilical cord blood banking market?

    By product, the market is segmented into public cord blood banks and private cord blood banks. The public cord blood banks segment held a larger umbilical cord blood banking market share in 2023.

    What are the growth estimates for the umbilical cord blood banking market till 2031?

    The umbilical cord blood banking market is expected to be valued at US$ 7.89 billion in 2031.

    What was the estimated umbilical cord blood banking market size in 2023?

    The umbilical cord blood banking market was valued at US$ 3.41 billion in 2023.

    Who are the major players in the umbilical cord blood banking market?

    The umbilical cord blood banking market majorly consists of the players, including Cordlife India, Biocell, CryoStemcell, NovaCord, LifeCell, HÉMA-QUÉBEC, Atlantic Health System, WMDA, CryoViva Singapore, and ViaCord, Inc

    What factors drive the umbilical cord blood banking market?

    Increasing use of cord blood in genetic rare disease research and treatment propel the umbilical cord blood banking market growth. However, high cost of hampers the growth of the market.

    What is umbilical cord blood banking?

    A facility that holds umbilical cord blood for later use is known as a cord blood bank. Due to the possibility of using cord blood to treat immune system and blood diseases, both public and private cord blood banks have emerged.

    The List of Companies - Umbilical Cord Blood Banking Market

    1. Cordlife India
    2. Biocell
    3. CryoStemcell
    4. NovaCord
    5. LifeCell
    6. HÉMA-QUÉBEC
    7. Atlantic Health System
    8. WMDA
    9. CryoViva Singapore
    10. ViaCord, Inc.

    The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.

    1. Data Collection and Secondary Research:

    As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.

    Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.

    1. Primary Research:

    The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.

    For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.

    A typical research interview fulfils the following functions:

    • Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
    • Validates and strengthens in-house secondary research findings
    • Develops the analysis team’s expertise and market understanding

    Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:

    • Industry participants: VPs, business development managers, market intelligence managers and national sales managers
    • Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.

    Below is the breakup of our primary respondents by company, designation, and region:

    Research Methodology

    Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.

    1. Data Analysis:

    Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.

    • 3.1 Macro-Economic Factor Analysis:

    We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.

    • 3.2 Country Level Data:

    Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.

    • 3.3 Company Profile:

    The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.

    • 3.4 Developing Base Number:

    Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.

    1. Data Triangulation and Final Review:

    The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.

    We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.

    We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.

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