May 17, 2024

Cord Blood Banking Market Size to Rise USD 27.55 Bn by 2033

The global cord blood banking market size was estimated at USD 16.81 billion in 2023 and is predicted to rake around USD 27.55 billion by 2033, growing at a CAGR of 5.06% from 2024 to 2033.

Key Points

  • North America led the market with the biggest market share of 38% in 2023
  • By type of bank, the cord blood banking market’s private bank segment is expected to grow significantly during the forecast period.
  • By services, the processing segment dominated the market in 2023.
  • By application. The cancer segment significantly contributes to the market and is anticipated to grow at a notable CAGR during the forecast period.
  • By end-use, the hospital segment dominated the market in 2023.

Cord Blood Banking Market Size 2024 to 2033

The Cord Blood Banking Market has witnessed significant growth in recent years, driven by increasing awareness about the therapeutic potential of cord blood, coupled with advancements in stem cell research and technology. Cord blood banking involves the collection and preservation of blood from the umbilical cord of a newborn for future medical use. This blood is a rich source of hematopoietic stem cells, which have the ability to differentiate into various types of blood cells and hold immense promise in the treatment of a wide range of diseases, including blood disorders, immune deficiencies, and certain types of cancers. The global cord blood banking market encompasses both public and private cord blood banks, with private banks accounting for a substantial portion of the market revenue.

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Growth Factors

Several factors have contributed to the growth of the cord blood banking market. One of the primary drivers is the increasing prevalence of chronic diseases and genetic disorders, which has heightened the demand for stem cell therapies. Additionally, the expanding applications of cord blood stem cells in regenerative medicine and tissue engineering have fueled market growth. Moreover, initiatives by governments and healthcare organizations to promote the establishment of public cord blood banks and enhance public awareness about cord blood donation have further stimulated market expansion. Furthermore, technological advancements in stem cell isolation, cryopreservation, and transplantation techniques have improved the efficiency and efficacy of cord blood banking services, driving market growth.

Region Insights:

The cord blood banking market exhibits significant regional variation in terms of market size, growth rate, and regulatory landscape. North America dominates the global market, attributed to the presence of a well-established healthcare infrastructure, high awareness levels among the population, and supportive government policies. Europe follows closely behind, with increasing investments in stem cell research and favorable reimbursement policies driving market growth. The Asia-Pacific region is poised to witness rapid expansion, fueled by growing healthcare expenditure, rising birth rates, and increasing collaborations between industry players and research institutions. However, market penetration in emerging economies of Asia-Pacific and Latin America is hindered by challenges such as limited healthcare infrastructure and regulatory constraints.

Cord Blood Banking Market Scope

Report Coverage Details
Growth Rate from 2024 to 2033 CAGR of 5.06%
Global Market Size in 2023 USD 16.81 Billion
Global Market Size by 2033 USD 27.55 Billion
U.S. Market Size in 2023 USD 4.47 Billion
U.S. Market Size by 2033 USD 7.33 Billion
Base Year 2023
Forecast Period 2024 to 2033
Segments Covered By Type of Bank, By Services, By Application, and By End Use
Regions Covered North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa

Cord Blood Banking Market Dynamics


Several factors are driving the growth of the cord blood banking market. One of the key drivers is the rising incidence of hematopoietic and genetic disorders, such as leukemia, lymphoma, thalassemia, and sickle cell anemia, which necessitate the use of stem cell therapies for treatment. Additionally, increasing investments in research and development activities aimed at expanding the therapeutic applications of cord blood stem cells are fueling market growth. Moreover, the growing trend of delayed parenthood and the rising awareness among expectant parents about the benefits of cord blood banking for future health security of their children are contributing to market expansion. Furthermore, advancements in cord blood processing techniques and the establishment of hybrid storage models combining public and private banking options are driving market growth.


The cord blood banking market presents several opportunities for growth and innovation. Expanding the scope of cord blood banking services to include other types of stem cells, such as mesenchymal stem cells derived from umbilical cord tissue, could open up new avenues for therapeutic applications. Furthermore, strategic collaborations and partnerships between cord blood banks and pharmaceutical companies or research institutions could accelerate the development of novel stem cell-based therapies. Additionally, increasing efforts to diversify the donor pool and improve the quality of stored cord blood units through advanced processing and storage techniques could enhance the market’s attractiveness. Moreover, expanding market presence in untapped regions and emerging economies presents significant growth opportunities for market players.


Despite the promising growth prospects, the cord blood banking market faces several challenges that may impede its growth trajectory. One of the major restraints is the high cost associated with cord blood banking, including collection, processing, and storage fees, which limits accessibility, particularly in developing regions. Moreover, ethical concerns and regulatory complexities surrounding the collection and use of cord blood stem cells pose challenges to market expansion. Additionally, the lack of standardized protocols for cord blood processing and transplantation, as well as the limited therapeutic efficacy of cord blood stem cells in certain diseases, hinder market growth. Furthermore, the emergence of alternative sources of stem cells, such as induced pluripotent stem cells and adult stem cells, poses competitive pressure on the cord blood banking market.

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Recent Developments

  • In April 2022, Aspen Neuroscience, Inc. commenced a groundbreaking patient screening study, the Trial-Ready Cohort Study, in collaboration with multiple clinical screening sites across the United States. This study marks a crucial initial step toward submitting an Investigational New Drug (IND) application to the United States Food & Drug Administration. Aspen Neuroscience’s objective is to explore the potential of ANPD001, an iPSC-derived cell replacement therapy, for treating Parkinson’s disease.
  • In April 2022, TreeFrog Therapeutics introduced The Stem Cell SpaceShot Grant, a grant program offering USD 100,000 in research funding exclusively dedicated to advancing the field of stem cell biology and regenerative medicine. This initiative supports innovative research projects, fostering progress and breakthroughs in understanding and applying stem cells.
  • In September 2022, ExCellThera aimed to enhance patients’ access to cord blood transplants. Cord blood transplants, characterized by not requiring exact HLA matching, offer a significant advantage over adult sources of stem cells. The company’s efforts contribute to improving the accessibility and efficacy of this medical intervention.
  • In March 2022, Cryo-Cell International, Inc. reported its purchase agreement for a newly constructed 56,000 sq ft facility within the Regional Commerce Center in the Research Triangle, NC. This facility is anticipated to expand Cryo-Cell’s cryopreservation and cold storage business, introducing a new service called ExtraVault. The closure is subject to customary conditions.

Cord Blood Banking Market Companies

  • Thermo Fisher Scientific (US)
  • Merck KGaA (Germany)
  • Lonza Group (Switzerland)
  • STEMCELL Technologies (Canada)
  • Takara Bio (Japan)
  • FUJIFILM Cellular Dynamics (US)
  • Sartorius AG (Germany)
  • GE Healthcare (UK)
  • Charles River Laboratories International (US)
  • Cynata Therapeutics (Australia)
  • Mesoblast (Australia)
  • Cellular Dynamics International (US)
  • Organogenesis (US)
  • Osiris Therapeutics (US)
  • Gamida Cell (Israel)
  • Pluristem Therapeutics (Israel)
  • Athersys (US)
  • Brainstorm Cell Therapeutics (Israel)
  • Cellectis (France)
  • Ncardia AG (Germany)

Segments Covered in the Report

By Type of Bank

  • Public
  • Private

By Services

  • Processing
  • Storage
  • Others

By Application

  • Cancer
  • Blood Disorders
  • Bone Marrow Failure Syndrome
  • Immuno-deficiency Disorders
  • Metabolic Disorders

By End Use

  • Hospital
  • Research Institutes
  • Specialty Clinics
  • Others

By Geography

  • North America
  • Europe
  • Asia-Pacific
  • Latin America
  • Middle East and Africa

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I have completed my education in Bachelors in Computer Application. A focused learner having a keen interest in the field of digital marketing, SEO, SMM, and Google Analytics enthusiastic to learn new things along with building leadership skills.

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