Return to: Technology NewsAdvanced Processing Methods and New Therapies Drive the Demand for Cord Blood Banking Services to Touch $48 billion by 2030A new report from Industry Experts Inc., on "Cord Blood Banking Services", is unveiled. According to this global market research report, global cord blood banking services market size was valued at US$32.2 billion in 2024 and is anticipated to reach US$47.9 billion by 2030, growing at a CAGR of 6.8% during the forecast period 2024-2030. The cord blood banking services market growth is propelled by the ease and safety of collecting stem cells from cord blood, growing awareness among parents regarding its potential medical benefits, and the increasing prevalence of autoimmune diseases, cancer, hematological disorders, and genetic issues. Progress in stem cell research, new therapies, and advancements in cord blood processing methods are driving market expansion. Technological innovations, growing awareness of stem cell treatments, and the emergence of personalized medicine are increasing the demand for private cord blood banking. Based on cord blood bank type, the private bank is the largest segment, with an estimated 54.7% share in 2024. Private banks preserve cord blood solely for donors and their families, providing tailored services, guaranteed availability of blood, and the possibility of future medical applications, which propels their expansion. Factors such as a growing demand for personalized medicine, increasing awareness of stem cell therapies, and concerns about future health requirements further enhance the private sector's leading position. Meanwhile, the public banks are anticipated to register the fastest growth with a CAGR of 7.7% from 2024 to 2030, driven by the ethical incentive of donating cord blood for public benefit, enabling access to stem cell transplants and research. The market for cord blood banking services analyzed in this report on a global basis covering all major regions including North America (The United States, Canada, and Mexico), Europe (Germany, France, the United Kingdom, Italy, Spain, and Rest of Europe), Asia-Pacific (Japan, China, India, South Korea, and Rest of Asia-Pacific) and Rest of World. The study analyzes the global market for cord blood banking services analyzed with respect to Service – Collection & Transportation, Processing, Analysis and Storage; Bank Type – Private and Public; and Component – Cord Blood and Cord Tissue; Application – Cancer, Blood Disorders, Immune Deficiencies, Metabolic Disorders and Other Applications (Including Osteopetrosis, Neurological Disorders, Cardiovascular Disorders, and others). About Industry Experts, Inc. Industry Experts, Inc., ranks among the leading market research providers globally. The company's off-the-shelf and customized business intelligence reports offer strategic insights and valuable guidance to enable various stakeholders, such as corporate strategists, analysts, researchers and startups, among others, in obtaining valuable, crisp and unbiased current and future market data. For more information, contact us on +1-320-497-3787 or visit https://industry-experts. ... News Release: Advanced Processing Methods and New Therapies Drive the Demand for Cord Blood Banking Services to Touch $48 billion by 2030 Submitted on: January 30, 2025 05:33:38 AM Submitted by: IndustryexpertsMedia On behalf of: industry-experts.com/verticals/biotechnology/global-cord-blood-banking-services-market |