U.S. Cord Blood Banking Services Market Size, Share & Trends Analysis Report By Bank Type, By Component (Cord Blood, Tissue, Placenta), By States (Texas, Arizona, California, Florida, Kentucky, New Jersey), And Segment Forecasts, 2018 - 2025

Report Overview

The U.S. Cord Blood Banking services market was valued over USD 17.2 billion in 2016 and is expected to reach over USD 49.09 billion at CAGR of around 12.2% during the forecast period. High awareness regarding benefits of cord blood (CB), tissue, and placenta storage coupled with an increasing number of service providers offering services at competitive prices are the factors driving the market growth.

As compared to the global cord blood banking, the U.S. cord blood banking services market is relatively mature. Increasing per capita spending capacity and market players offering services at competitive pricing are the factors fueling the demand for CBB services. The growing number of applications of CB in the treatment of various chronic diseases is expected to be one of the principal drivers of the market in the country. Currently, CB stem cells are used in the treatment of around 80 diseases. These diseases include various types of cancers, bone marrow disorders, blood disorders, immunodeficiency syndromes, and hepatic conditions. The growing prevalence of these diseases and lack of effective alternative treatment are the factors expected to increase the total number of units stored.

Clinical trial data suggest that there are currently more than 890 studies related to cord blood cells and their therapeutic applications. Out of these studies, around 96 are in the late phase of clinical trials. This data suggests that the number of applications is likely to expand significantly in the recent future. Consequently, demand for CBB is anticipated to rise shortly.  

On the other hand, factors such as stringent approval and licensing procedures, decreasing number of births per year, ethical issues, and dilemma in selecting private or public cord blood banks are anticipated to limit the market growth moderately.

Bank Type Insights

Private banks captured the largest market share in the country in 2016. More than 2.5% of the total births in the country opt for the storage of cord blood. This is offering growth opportunities for private players to expand their share in the market. The high cost associated with the storage of cord blood units in the private bank is limiting its penetration among customers. However, increasing competition is creating a pressure of price control on existing players to sustain the competition. The above-mentioned factors are expected to increase in the number of parents opting for private cord blood storage.

In the case of public banking, the donated unit is collected and stored free of cost. High government investments in public banks to increase their repositories with diverse genetic units are the factors expected to catalyze the growth of the public cord blood segment during the forecast period.

Component Insights

CB segment captured the largest market share in 2016. A large number of service providers and preference for affordable services are the factors driving the segment growth. Specialized CB banks having fitted in regulatory criteria for related certification and accreditations, provide cord tissue storage services. Currently, there are a few companies providing placenta storage services; this number is expected to rise over the forecast period owing to the introduction of various regenerative surgical techniques.

Ongoing studies on various applications of cord tissues show high growth potential for the segment. Currently approved applications include, but are not limited to, Parkinson’s disease, rheumatoid arthritis, multiple sclerosis, Type 1 diabetes, and cerebral palsy. Also, the growing awareness of the advantages of tissue storage is expected to fuel segment growth. Most of the companies are implementing strategies such as the discounted price for bundled offerings and are organizing awareness programs such as Cord Blood Ambassador by Americord Registry for pushing the demand for cord tissue. However, the segment growth may be impeded by factors such as different licensing processes in each state and requirement of specialized storage devices.

U.S. Cord Blood Banking Services Market Share Insights

Major market participants present in the CBB services market are involved in marketing strategies and creating suitable payment plans to attract customers. Some major participants in the market include Cord Blood America, Inc.; California Cryobank Stem Cell Services LLC, StemCyte, Inc, Cryo-Cell International, Inc.; Norton Healthcare, Inc.; Lifeforce Cryobank Sciences Inc., and others.

U.S. Cord Blood Banking Services Market Report Scope

Segments Covered in the Report

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

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

  • Private

  • Public

  • Hybrid

• Component 8Outlook (Revenue, USD Billion, 2014 - 2025)

  • Cord Blood

  • Cord Tissue

  • Placenta

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

  • Arizona

  • California

  • Florida

  • Kentucky

  • New Jersey

  • Texas

  • Houston

  • Massachusetts