GVR Report cover Cord Blood Banking Services Market Size & Growth Report

Cord Blood Banking Services Market Size & Growth Analysis Report, By Bank Types (Public, Private, Hybrid) By Region (North America, Europe, Asia Pacific, LATAM, MEA), And Segment Forecasts, 2018 - 2025

  • Report ID: 978-1-68038-611-0
  • Number of Pages: 80
  • Format: Electronic (PDF)
  • Historical Range: 2014 - 2015
  • Industry: Healthcare

Industry Insights

The global cord blood banking services market size was valued at USD 29.7 billion in 2016 and is expected to grow at a CAGR of 11.9% over the forecast period. Increasing applications of cord blood and stem cells in genetic disease treatment is primarily driving the global cord blood banking services market towards growth. Furthermore, increasing awareness about the benefits, wide availability of service providers coupled with insurance coverage are some of the factors propelling the demand for cord blood banking services globally.

China cord blood banking services market

Moreover, increasing spending capacity and suitable payment plans offered by the market players are fuelling the demand for these services. Increasing incidences of cancer and other life-threatening genetic diseases are further anticipated to boost the number of patients require to undergo bone marrow transplant. For instance, according to Leukemia Research Foundation, the U.S. alone has approximately, 761,659 patients suffering from Hodgkin’s or non-Hodgkin’s lymphoma, another condition widely treated with stem cell therapy. Therefore, demand for suitable CB units is expected to grow swiftly in the near future resulting in significant growth in the demand for public banking.

While on the other hand, stringent regulatory requirements, ethical issues, and dilemma in choosing private or public banks are the major factors hindering the growth of the market. In addition, the high cost of storage, collection, and risk of non-usability of the unit stored with private bank is further limiting the growth of the global CBB services market.

Banking Type Insights

Globally three types of cord blood banks: public, private, and hybrid are available. Private banks captured the largest revenue share in 2016 owing to the high cost associated with collection and storage of CB units charged to parents. Moreover, the marketing activities practiced by the private players are resulting in the increased customer base of private players compared to public banks. Considering all the above-mentioned factors together, the private banking service segment was leading the global market.

Global cord blood banking market

However, greater chances of finding a suitable match for the patient’s blood coupled with the risk of non-usability of the blood unit stored in private bank are some of the prime factors anticipated to boost the growth of the public banks in the near future. Moreover, governments are progressively investing in public banks to increase the repository of a genetically wide variety of units stored. As a result, public banking service segment is anticipated to show significant growth during the forecast period of 2017 to 2025.

Regional Insights

North America dominated the global market in 2016 owing to the wide presence of private players coupled with high awareness among the population. Europe accounted for the second-largest market after North America in 2016 owing to high healthcare expenditure and awareness regarding available services. However, government restrictions in establishing private banks in some of the countries such as France and Italy are challenging the growth of the market in Europe.

Asia Pacific market is estimated to grow at the fastest CAGR during the forecast period owing to the presence of emerging countries such as China, Japan, India, and Hong Kong. Increasing investments in healthcare sector, escalating investment by international players to maximize the geographic reach, and thereby expand market share are some of the factors anticipated to spur the Asia Pacific cord blood banking services market. Moreover, booming medical tourism industry is expected to stimulate the demand for CB units in this region.

Cord Blood Banking Services Market Share Insights

Some of the major players operating in the cord blood banking services market include China Cord Blood Corporation, Cord Blood America, Inc., CBR Systems, Inc., Cordlife Group Limited, Cryo-Cell International, Inc., Cryo-Save AG, Lifeforce Cryobanks, National Cord Blood Program, ViaCord, Inc. and Virgin Health Bank. Major industry participants present in the sector are involved in the marketing strategies and suitable payment plans to attract customers.

Recent Development

  • In February 2023, Cordlife introduced a Singapore-based peripheral blood stem cell service. As a part of this service, they will process, test, and cryopreserve stem cells collected from clinic partners for treatment.

Report Scope 

Attribute

Details

Base year for estimation

2016

Actual estimates/Historical data

2014 - 2015

Forecast period

2017 - 2025

Market representation                                                

Revenue in USD Million and CAGR from 2016 to 2025

Regional scope

North America, Europe, Asia Pacific, Latin America, Middle East & Africa

Country scope

U.S. Canada, U.K., Germany, China, India, Brazil, Mexico, South Africa

Report coverage             

Revenue forecast, company share, competitive landscape, growth factors, and trends

15% free customization scope (equivalent to 5 analyst working days)

If you need specific market information, which is not currently within the scope of the report, we will provide it to you as a part of customization


Segments Covered in the Report

This report forecasts revenue growth at state levels as well as provides an analysis on the latest trends and opportunities in each of the sub-segments from 2014 to 2025. For the purpose of this study, Grand View Research has segmented the global cord blood banking services market report on the basis of bank type and region:

  • Bank Type Outlook (Revenue, USD Million, 2014 - 2025)

    • Private

    • Public

    • Hybrid

  • Regional Outlook (Revenue, USD Million, 2014 - 2025)

    • North America

      • The U.S.

      • Canada

    • Europe

      • UK

      • Germany

    • Asia Pacific

      • China

      • India

    • Latin America

      • Brazil

      • Mexico

    • MEA

      • South Africa

gvr icn

GET A FREE SAMPLE

gvr icn

This FREE sample includes data points, ranging from trend analyses to estimates and forecasts. See for yourself.

gvr icn

NEED A CUSTOM REPORT?

We can customize every report - free of charge - including purchasing stand-alone sections or country-level reports, as well as offer affordable discounts for start-ups & universities. Contact us now

Certified Icon

We are GDPR and CCPA compliant! Your transaction & personal information is safe and secure. For more details, please read our privacy policy.