The market is segmented by Component (Cord Blood, Cord Tissue), Service Type (Public, Private), Application (Cancer, Blood Disorders, Metabolic Disorders, Bone Marrow Failure Syndrome, Others), End User (Hospitals, Pharmaceutical Research, Specialty Clinics, Others), and Region (North America [The USA, Canada, and Mexico], Europe [Germany, France, The U.K., Russia, and Rest of Europe], Asia-Pacific [China, Japan, India, South Korea, and Rest of Asia-Pacific], and Rest of the World [Brazil, Saudi Arabia, Israel, and Others]).
The market is segmented by Component (Cord Blood, Cord Tissue), Service Type (Public, Private), Application (Cancer, Blood Disorders, Metabolic Disorders, Bone Marrow Failure Syndrome, Others), End User ...
Cord Cord Blood Banking Services Market is expected to grow at a CAGR of 15.35% during the forecast period of 2022-2028 to reach US$ ~15.56 Bn in 2028 from US$ 4.81 Bn in 2021.
The services offered by cord blood banks include gathering, processing, and storing stem cells for future use. The market for cord blood banking services has grown as a result of increased autoimmune disease prevalence and its many subtypes.
The main driver of market expansion is the existence of Treg cells in the umbilical cords, which are essential in limiting the overreactions of immune systems. Over 80 hereditary illnesses, including cancer and diabetes, can be treated using the stem cells found in cord blood. Over 7000 hereditary disorders can be screened for using the recently developed genomic profiling assays conducted using next-generation sequencing technology.
The outcomes aid in ensuring the patients' security prior to the transplant. The AXP II system offers total automation of the process, from isolation to collection and storage. The process may be conducted within the regulatory system thanks to the system's adaptable user interface and adaptability, which also helps to reduce volume and offer consistent buffy coat volume.
By Application Type (Cancer, Blood Disorders, Metabolic Disorders, Bone Marrow Failure Syndrome, Others)
By End User Type (Hospitals, Pharmaceutical Research, Specialty Clinics, Others)
By Region (North America, Europe, Asia-Pacific and the Rest of the World)
Top Companies in 2022
BrainStorm Cell Limited
Caladrius Biosciences, Inc.
Celgene Corporation
Cord Blood Registry (CBR) Systems
Cordlife Group Limited
Cryo-Cell International
CryoHoldco
Cryo-Save
China Cord Blood Corporation
Cord Blood America Inc.
Virgin Health Bank
California Cryobank Stem Cell Services LLC
Global Cord Blood Corporation
LifeCell International
Regrow Biosciences Pvt. Ltd.
Smart Cells International
StemCyte
ViaCord
Vita34 AG
Dominant Region
North America currently holds a dominant position in the market outlook.
Market Drivers
Increasing applications of cord blood and stem cells in genetic disease treatment is primarily driving the global market towards growth. Furthermore, increasing awareness about the benefits, and wide availability of service providers coupled with insurance coverage are some of the factors propelling the demand for cord blood banking services globally.
On the other hand, strict regulatory requirements, moral dilemmas, and the choice between private and public banks are the main barriers to market expansion. The high cost of storage, collection, and the danger that the unit placed with a private bank won't be usable are other factors that are inhibiting the growth of the worldwide cord blood banking services industry.
The cost of cord blood banking services is expected to be a barrier to the growth of the global market for these services during the forecast period. Not everyone can afford stem cell preservation procedures due to their high cost. For instance, the private cord blood bank Americord Registry LLC asserts that their usual charge for the collection and 20-year storage of cord blood ranges from USD 3,299 to USD 6,599.
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Medical organizations like the Center for International Blood and Marrow Transplant Research and the Worldwide Network for Blood and Marrow Transplantation have advised and urged nations to store cord blood. Additionally, the development of the Cord Blood Banking Services sector in various nations has been impacted by the ongoing study and analysis of the use of cord blood tissues in COVID-19 patients. The development of the Cord Blood Banking Services sector has been greatly influenced by the positive outcomes that were observed when COVID patients were treated with cord blood tissues.
Segment Analysis
Service Type
The cord blood banking services market is divided into public and private. Due to the significant expense charged for the collection and storage of CB units, private banks received the greatest income share. Furthermore, compared to state banks, the customer bases of private players are growing as a result of their marketing strategies. When all the aforementioned elements were taken into account, the private banking service segment dominated the global market.
Application Type
The market is segmented into cancer, blood disorders, metabolic disorders, bone marrow failure syndrome, and others. The demand for these services is being fueled by consumers' rising purchasing power and the appropriate payment options that market participants are providing. The number of individuals needing bone marrow transplants is also projected to rise as the incidence of cancer and other genetically-based fatal diseases rises.
For instance, Hodgkin's or non-Hodgkin' lymphoma, another cancer that is commonly treated with stem cell therapy, affects roughly 761,659 people in the United States alone, according to the Leukemia Research Foundation. As a result, it is anticipated that shortly, demand for suitable CB units will increase quickly, leading to a major increase in the demand for public banking.
Regional Analysis
The market is broken down geographically into areas like North America, Europe, Asia-Pacific, and the Rest of the World (RoW). North America currently holds a dominant position in the marketoutlook due to the region's increasing incidence of cancer and other diseases including leukemias and lymphomas across all age groups.
The general expansion of the Cord Blood Banking Services business in North America has been driven by booming service providers, non-profit organizations, and growing public knowledge of the long-term advantages of keeping cord blood.
Cord blood banking services are a highly competitive market. To remain competitive in this market, market participants are placing a lot of emphasis on mergers, expansions, and product approvals.
Here are a few significant developments:
In September 2022, the first-in-human trial (Phase I/IIa) for the treatment of knee osteoarthritis by Xintela will be conducted in Australia using three different dose levels of the stem cell product XSTEM.
A licensing deal was struck in February 2021 between Duke University and Cryo-Cell International, Inc., the first private cord blood bank in the world to collect and maintain stem cells. By the agreement, Cryo-Cell has access to proprietary practices and legal data regarding cord blood and cord tissue produced by Duke.
In February 2021, American CryoStem Corporation, a global licensor, a pioneer in autologous cellular processing and therapies, and a clinical-stage biotechnology enterprise, signed a contract with BioTherapeutic Labs Corp. (BTL), an FDA-registered manufacturer of umbilical cord tissue. to distribute umbilical cord blood cells
In February 2021, BioTherapeutic Labs Corp. (BTL), an FDA-registered manufacturer of umbilical cord tissue, and American CryoStem Corporation, a global licensee, a pioneer in autologous cellular processing and therapies, and clinical-stage biotechnology enterprise, signed a contract. CRYO will improve cell recovery from the umbilical cord to distribute umbilical cord cells under its recently announced "CRADA" relationship with the Biomedical Research Laboratory in Bethesda, Maryland, and for subsequent IND applications. The Agreement mandates combined R&D work on protocols using both BTL's product lines produced from human umbilical cord tissue and ATCell autologous mesenchymal stem cells from CRYO, as well as marketing CRYO's products and services. for use in creating ATCells, creating products, and creating a complete CryoStem Platform Technology. The companies want to confirm and validate and standardize the umbilical cord acellular suspension product
"The overall competitive landscape has been affected due to these mergers and acquisitions."
Report Features
This report provides market intelligence most comprehensively and the structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market.
Report – Features
Market Segmentation
5
Regions Covered
4
Countries/Sub-Regions Covered
17
No. of Figures & Tables
>160
Company Profiles
19
The following are the key features of the report:
Overview, industry life cycle analysis, supply chain analysis
Environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
Trend and forecast analysis
Segment trends and forecast
Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
Attractive market segments and associated growth opportunities
Emerging trends
Strategic growth opportunities for the existing and new players
Key success factors
Research Methodology
This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools.
More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles have been leveraged to gather the data. We conducted more than 10 detailed primary interviews with the market players across the value chain in all four regions and with industry experts to obtain both qualitative and quantitative insights.
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Company Profiling
Detailed profiling of additional market players (up to three players)
SWOT analysis of key players (up to three players)
Competitive Benchmarking
Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances
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The services offered by cord blood banks include gathering, processing, and storing stem cells for future use. The market for cord blood banking services has grown as a result of increased autoimmune disease prevalence and its many subtypes. The main driver of market expansion is the existence of Treg cells in the umbilical cords, which are essential in limiting the overreactions of immune systems.
North America currently holds a dominant position in the cord blood banking services market outlook due to the region's increasing incidence of cancer and other diseases including leukemias and lymphomas across all age groups.
