Umbilical Cord Blood Banking Market size was valued at USD 23.36 billion in 2022 and is expected to grow at a CAGR of 16.6% from 2022-2028. The rising prevalence of chronic diseases coupled with the emerging field of regenerative medicines and growing applications of cord blood cells for various treatments and advancements in storage technologies and the vast development in the cord blood processing are the major factors that are driving the growth of the umbilical cord blood banking market. Moreover, increasing awareness among the individuals regarding the benefits of cord blood banking and various government associations and initiatives are boosting the growth of the market. However, strict license and accreditation procedures are expected to restrain the growth of the market over the future years. Umbilical cord blood banking market is surging owing to expansion of their banking space to increase the number of high quality, publicly banked umbilical cord blood units. This report studies global umbilical cord blood banking market dynamics elaborately to identify the current trends & drivers, future opportunities and possible challenges to the key stakeholders operating in the market. In addition, the report includes human demographics; regulatory scenario, and competition analysis with vividly illustrated the competition dashboard to assess the market competition. Moreover, PBI analyzed the market to better equip clients with possible investment opportunities across the regions (regional Investment Hot-Spots) and market unmet needs (Product Opportunities). Key stakeholders of the report include suppliers, manufacturers, marketers, policy makers, and healthcare service providers engaged.
In April 2018, California-based StemCyte, Inc. has announced the expansion of two new umbilical cord blood collection sites in Southern California.