The cord blood banking market is projected to witness optimistic growth by 2027 on account of increasing occurrences of acute genetic disorders worldwide.

Rising awareness about the therapeutic properties of umbilical cord-derived blood among parents around the world has played a vital role in fueling market demand. Additionally, growing research efforts in the field of regenerative medicine supported by favorable government initiatives has augmented market growth.

Furthermore, prominent industry players have been employing lucrative business strategies to monetize evolving market trends, which has positively impacted the business landscape. For instance, in August 2020, CBR by Generate Life Sciences, a major private newborn stem cell bank, inked a partnership with NantKwest, a company specializing in immunotherapy, to develop a treatment for the COVID-19 infection using newborn stem cells. As part of the agreement, CBR contributed research-donated umbilical cord tissue-derived mesenchymal stem cells (MSC) to NantKwest’s subsidiary, ImmunityBio, Inc., to produce high-quality cellular therapy product on a large scale.

To cite another instance, in July 2019, Americord Registry LLC, a leading stem cell bank, launched its novel stem cell banking product dubbed Placental Tissue 2.0, that enables a family to store two kinds of valuable stem cells: mesenchymal stem cells (MSCs) and amniotic epithelial cells, a form of stem cell (or AECs). The MSCs obtained in this method are more densely packed, and when combined with the AECs, they provide a more efficient resource that opens a plethora of new therapeutic options.

The cord blood banking market has been segmented on the basis of application, end-use, service, type of bank, and region. Based on type of bank, the market has further been categorized into public and private. The public type of bank segment was valued at over USD 11,902.9 million in 2020 and is likely to progress at a steady pace through the analysis period.

In terms of service, the market has been divided into storage, processing, and others. In 2020, the storage service segment held a sizable market share of approximately 19% and is expected to observe considerable growth over the forecast timeline.

With respect to application, the market has been segregated into blood disorders, cancer, metabolic disorders, immuno-deficiency disorders, bone marrow failure syndrome, and others. The cord blood banking market from the metabolic disorders application segment is anticipated to garner a notable valuation of around USD 2,356.1 million by 2027.

From the end-use perspective, the market has been bifurcated into research institutes, specialty clinics, hospitals, and others. The research institutes end-use segment is estimated to observe substantial growth by 2027, expanding at about 6.2% CAGR through the review period.

From the regional point of view, the Latin America cord blood banking market held over 3.9% market share in 2020 and is predicted to showcase robust growth through the study timespan. Meanwhile, the Middle East & Africa cord blood banking market is projected to amass lucrative gains by 2027, progressing at a CAGR of approximately 5.5% through the assessment timeframe.