The global cord blood product market size is estimated to be around USD 839.5 million in 2024 and is anticipated to reach a value of USD 1,341.7 million by 2034. Sales are projected to rise at a CAGR of 4.8% over the forecast period. Sales generated by cord blood products in 2023 were at USD 796.4 million. The industry is anticipated to exhibit a Y-o-Y growth of 5.4% in 2024.
Growing focus on personalized healthcare is boosting the use of cord blood stem cells for treating several diseases. Innovations in stem cell processing, cryopreservation, and cell culture techniques are improving the quality and viability of cord blood stem cells. Furthermore, developments in regenerative medicine and cell therapy are enhancing market prospects and promoting research into new applications.
Emerging markets, growing healthcare infrastructure, and supportive regulatory frameworks present opportunities for leading companies to tap into new customers and segments. The cord blood product market is evolving despite challenges like cost and ethical issues, offering the potential for regenerative medicine and improving healthcare outcomes.
The market is experiencing new opportunities for product diversification and customization due to the increasing trend of unique cell-based therapies. Emerging markets and supportive regulatory frameworks offer leading companies ample opportunities to surge presence and reach new customers.
Pharmaceutical companies, biotechnology firms, and academic institutions are investing in research, fueling innovation in cell therapy technologies and clinical trial infrastructure. For instance, Cryo-Cell recently signed a license agreement with Duke University to transition into an autonomous, vertically integrated cellular therapy company.
Emerging economies are experiencing significant growth due to improved healthcare infrastructure, healthcare expenditure, and increased awareness among expectant parents. Leading companies and manufacturers are enhancing presence through strategic partnerships, collaborations, product launches, and entry initiatives.
A study published by the National Library of Medicine states that cord blood can be considered a significant source of therapeutic plasma and platelet derivatives, especially for regenerative medicine. A few of the benefits include safe biological products, easy availability, rich tissue regeneration, young donors, and universal usage.
| Attributes | Description |
|---|---|
| Estimated Global Cord Blood Product Market Size (2024E) | USD 839.5 million |
| Projected Global Cord Blood Product Market Value (2034F) | USD 1,341.7 million |
| Value-based CAGR (2024 to 2034) | 4.8% |
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Escalating Technological Progressions to Create Ample Opportunities
Stem cell technology developments and research are surging the clinical applications of cord blood stem cells. New techniques for isolating and manipulating cord blood stem cells are enhancing therapeutic potential and paving new regenerative medicine treatment avenues.
Rising Government Funding to Surge Demand
Government initiatives supporting stem cell research and regenerative medicine are set to boost growth of the cord blood product market. Funding for research, infrastructure development, and clinical trials are set to expedite the translation of scientific discoveries into clinical applications and fuel growth.
Surging Prevalence of Chronic Diseases to Propel Growth
The industry is projected to experience substantial growth due to rising government funding, surging chronic disease rates, cord blood research, and increased public awareness. Chronic illnesses such as thalassemia, sickle cell anemia, leukemia, lymphoma, and hemophilia are surging globally, necessitating increased cord blood cell production.
High Initial Cost and Limited Awareness to Hinder Growth
Cord blood banking faces challenges due to high initial processing and storage fees, which are set to be prohibitively expensive for families. Limited awareness about cord blood banking benefits is further set to discourage parents from investing in their child's blood.
Stringent Regulatory Framework to Impede Growth
The regulatory frameworks that oversee the creation and marketing of cord blood products differ between nations, which further complicates the process. Companies in this sector have a plethora of regulations to manage the efficacy, safety, and standards of manufacturing products. Reaching regulatory compliance is set to be an expensive and time-consuming process, which is projected to impede growth of these cutting-edge treatments.
The global cord blood product sector recorded a historical CAGR of 5.6% from 2019 to 2023. Cord blood stem cells were extensively used from 2019 to 2023 due to high potential in treating conditions such as cerebral palsy, autism, and spinal cord injuries.
The sector is escalating globally, with growing adoption in both developed and developing countries. Emerging economies are experiencing increased demand for cord blood banking services due to improved healthcare infrastructure and awareness. Cord blood bank services offer storage of other biological materials and personalized medicine services, including genetic testing and analysis.
The growing interest in regenerative medicine reflects a paradigm shift in healthcare, with researchers exploring the potential of stem cells in addressing a range of medical conditions. Researchers are exploring the intricate mechanisms of stem cell development, focusing on how these cells differentiate into different cell types and how aging affects function. Analyzing these fundamental processes is important for elucidating cord cell biology and role in health and disease.
To escalate the therapeutic potential of cord blood cells effectively, researchers are exploring strategies to control differentiation into desired cell types. This method holds the potential for creating personalized cell-based therapies for neurodegenerative disorders, cardiovascular diseases, and orthopedic injuries.
Principal Consultant
The section below covers the forecast for cord blood product market in terms of countries. Information about key countries located in several regions of the globe, including North America, Asia Pacific, Europe, and others, is provided.
The United States is anticipated to remain at the forefront in North America, with a CAGR of 3.7% through 2034. In South Asia and Pacific, India is projected to witness a CAGR of 9.5% through 2034, leaving behind China at 8.4%.
| Countries | CAGR 2024 to 2034 |
|---|---|
| United States | 3.7% |
| Germany | 4.5% |
| United Kingdom | 4.1% |
| China | 8.4% |
| India | 9.5% |
The United States held a significant share of 25.1% in 2023 and is projected to continue experiencing considerable growth throughout the forecast period. The country is set to surge at a 3.7% CAGR from 2024 to 2034.
The country boasts a robust research infrastructure, including renowned labs such as the National Institutes of Health (NIH) and educational institutions dedicated to genomic studies. Cord blood products are in high demand due to increased usage in chronic illness treatment and research applications, bolstering demand in the United States.
Rising developments in biotechnology and academic and research institutes are projected to fuel demand in China. The country's robust investment in research and development, coupled with a burgeoning healthcare sector, is spurring growth.
China is projected to surge at a CAGR of 8.4% during the forecast period. The government has shown significant support for the use of cord blood products in several medical applications, including transplantation and regeneration.
India is making significant strides in the sector, showcasing a positive growth outlook. Researchers and medical professionals are advancing clinical infrastructures in the field of regenerative stem cell therapies, fueling growth in the country. By 2034, India is set to rise at a CAGR of 9.5%.
The industry is escalating due to growing parental awareness about benefits and the increasing prevalence of diseases treated with cord blood stem cells. Increasing investments in research and development and a growing emphasis on healthcare infrastructure are significant factors fueling growth.
The section contains information about the leading segments in the sector. In terms of product type, the cord blood unit segment accounted for a share of 44.3% in 2023. By storage status, the frozen cord blood units category held a leading share of 42.4% in 2023.
| Segment | Cord Blood Units (Product Type) |
|---|---|
| Value Share (2023) | 44.3% |
The cord blood units segment dominated the global industry with a 44.3% share in 2023 and is projected to continue experiencing high growth throughout the forecast period. Cord blood units are available in public and private banks, contributing to the supply of stem cells for transplantation and regenerative medicine.
Public banks serve patients without a familial match, while private banks offer families the option to store cord blood for future use. The segment is undergoing significant developments in processing and storage technologies, regulatory policies, and public awareness. As research uncovers new therapeutic applications, demand for cord blood units is projected to rise.
| Segment | Frozen Cord Blood Units (Storage Status) |
|---|---|
| Value Share (2023) | 42.4% |
The frozen cord blood units segment dominated the global industry with a 42.4% share in 2023 and is projected to continue experiencing high growth throughout the forecast period. Frozen cord blood units are essential for research in regenerative medicine, stem cell biology, and new therapies. These are also gaining traction in tissue engineering, immunotherapy, and gene editing.
Frozen cord blood units are set to be used as a stable source of stem cells for transplantation and research. Future developments in cryopreservation techniques, storage technologies, and stem cell therapies are projected to enhance utility and impact.
Cord blood units can be frozen for extended periods without compromising the quality of stem cells, ensuring viability and functionality for therapeutic or transplantation applications. This flexibility allows medical professionals to keep a stock of cord blood units for several medical uses, fueling the segment’s growth.
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Acquisitions and recognition are top priorities for leading cord blood product manufacturers as these firms work to create new product lines and extend global consumer base. Key companies are inclined towards partnerships, mergers and acquisitions, geographical growth, and strategic collaborations to broaden presence.
Leading manufacturers and companies are extending operations by entering new markets and obtaining regulatory and marketing approvals. Key companies and start-ups are surging into new geographies, adapting partnerships with international organizations, and focusing on research and development.
The industry is competitive, with leading companies like CORD BLOOD AMERICA, INC., Cordlife Group Ltd., CBR Systems, Inc., Cryo-Cell International, Inc., and StemCyte, Inc. dominating the sector.
Industry Updates
Start-ups and Innovations
As per product type, the industry has been categorized into cord blood-derived growth factors, cord blood cell therapy products, and cord blood units.
The segment is categorized into oncology, hematology, immunology, metabolic disorders, and others.
Cord blood products with storage status of fresh cord blood products, frozen cord blood units, and cryopreserved cord blood products are described.
A few of the leading applications include transplantation, regenerative medicine, and others.
Several end-users include hospitals, cord blood banks, academic and research institutes, and specialty clinics.
Industry analysis has been carried out in key countries of North America, Latin America, East Asia, South Asia and Pacific, Western Europe, Eastern Europe, and Middle East and Africa.
The industry is set to witness a CAGR of 4.8% by 2034.
The industry witnessed a CAGR of 5.6% from 2019 to 2023.
In 2034, the industry is anticipated to reach USD 1,341.7 million.
Germany is estimated to lead by showcasing a 4.5% CAGR through 2034.
CORD BLOOD AMERICA, INC., Cordlife Group Ltd., and CBR Systems, Inc.
The industry reached USD 796.4 million in 2023.
1. Executive Summary
2. Industry Introduction, including Taxonomy and Market Definition
3. Market Trends and Success Factors, including Macro-economic Factors, Market Dynamics, and Recent Industry Developments
4. Global Market Demand Analysis 2019 to 2023 and Forecast 2024 to 2034, including Historical Analysis and Future Projections
5. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034
5.1. By Product Type
5.2. By Therapeutic Area
5.3. By Storage Status
5.4. By Application
5.5. By End User
5.6. By Region
6. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, by Product Type
6.1. Cord Blood-derived Growth Factors
6.2. Cord Blood Cell Therapy Products
6.3. Cord Blood Units
7. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, by Therapeutic Area
7.1. Oncology
7.2. Hematology
7.3. Immunology
7.4. Metabolic Disorders
7.5. Others
8. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, by Storage Status
8.1. Fresh Cord Blood Products
8.2. Frozen Cord Blood Units
8.3. Cryopreserved Cord Blood Products
9. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, by Application
9.1. Transplantation
9.2. Regenerative Medicine
9.3. Others
10. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, by End User
10.1. Hospitals
10.2. Cord Blood Banks
10.3. Academic and Research Institutes
10.4. Specialty Clinics
11. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, by Region
11.1. North America
11.2. Latin America
11.3. East Asia
11.4. South Asia and Pacific
11.5. Western Europe
11.6. Eastern Europe
11.7. Middle East and Africa
12. North America Sales Analysis 2019 to 2023 and Forecast 2024 to 2034, by Key Segments and Countries
13. Latin America Sales Analysis 2019 to 2023 and Forecast 2024 to 2034, by Key Segments and Countries
14. East Asia Sales Analysis 2019 to 2023 and Forecast 2024 to 2034, by Key Segments and Countries
15. South Asia and Pacific Sales Analysis 2019 to 2023 and Forecast 2024 to 2034, by Key Segments and Countries
16. Western Europe Sales Analysis 2019 to 2023 and Forecast 2024 to 2034, by Key Segments and Countries
17. Eastern Europe Sales Analysis 2019 to 2023 and Forecast 2024 to 2034, by Key Segments and Countries
18. Middle East and Africa Sales Analysis 2019 to 2023 and Forecast 2024 to 2034, by Key Segments and Countries
19. Sales Forecast 2024 to 2034 by Product type, Therapeutic Area, Storage Status, Application and End User for 30 Countries
20. Competition Outlook, including Market Structure Analysis, Company Share Analysis by Key Players, and Competition Dashboard
21. Company Profile
21.1. CORD BLOOD AMERICA, INC.
21.2. Cordlife Group Ltd.
21.3. CBR Systems, Inc.
21.4. Cryo-Cell International, Inc.
21.5. StemCyte, Inc.
21.6. ViaCord PerkinElmer (Revvity)
21.7. NeoStem, Inc.
21.8. CryoHoldco
21.9. LifeCell International Pvt. Ltd.
21.10. Esperite N.V.
21.11. Maze Cord Blood Laboratories
21.12. Vita34 AG
21.13. Cryo-Save AG
21.14. Cells4Life Group LLP
21.15. CariCord, Inc.
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Cord Blood Product Market
