Cord Blood Product Market to Reach USD 1,341.7 Million by 2034 Amid Increasing Awareness among Parents about the Benefits of Cord Blood Banking

As per Future Market Insights (FMI) industry analysis, the Cord Blood Product Market was valued at around USD 796.4 million in 2023. The market is anticipated to exhibit a CAGR of 4.8% from 2024 to 2034.

Cord blood products are gaining traction in various medical fields, particularly in the treatment of hematological disorders and immune-related conditions. These products are increasingly utilized in regenerative medicine approaches, serving as a source of multipotent stem cells for tissue repair and regeneration.

The industry is set to surge due to increased awareness among expectant parents and healthcare providers about the therapeutic uses of cord blood stem cells. Government support for stem cell research and regenerative medicine is set to boost growth by funding research, infrastructure development, and clinical trials.

Rising healthcare expenditure and focus on personalized medicine are factors fueling cord blood product market expansion. The increasing prevalence of chronic illnesses and injuries necessitates innovative treatments for tissue restoration and wound healing, boosting the industry’s growth.

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Key Takeaways from the Cord Blood Product Market Study

• By storage status, the frozen cord blood units segment held a lucrative value share of 4% in 2023.
• The United States is set to surge at a CAGR of 7% by 2034.
• By 2034, China is projected to rise at 4%CAGR by 2034.
• Based on the product, the cord blood unit segment held about 3% value shares in 2023.
• Global sales are projected to rise at a CAGR of 8% over the forecast period.

“Cord blood stem cells are being explored for clinical applications in neurological disorders, autoimmune diseases, and tissue regeneration, potentially escalating the cord blood product market. Technological advancements in tissue engineering and production have significantly enhanced the safety and effectiveness of cord blood-based products,” says a lead analyst at Future Market Insights (FMI).

Cord Blood Product Market Competitive Landscape

Acquisitions and expansions among key companies are the main strategies of leading manufacturers and businesses such as ViaCord – PerkinElmer (Revvity). Furthermore, several growth strategies, such as new product launches, help leading companies to enhance their presence in the market and compete with other players. Following are a few examples of key developments made by leading companies to be at the top position:

• In 2023, MIMEDX, a Georgia-based company, signed an exclusive distribution agreement with Gunze Medical Limited for the marketing of EPIFIX in Japan.
• In 2023,LifeCell International, headquartered in India, introduced the ‘PrepaCyte-CB®’ cord blood processing technology, ensuring the highest stem cell yield.

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Future Market Insights (FMI) brings a comprehensive research report on forecasted revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2019 to 2034. The global cord blood product market is segmented in detail to cover every aspect of the market and present a complete market intelligence approach to the reader.

The study provides compelling insights into the cord blood product market segment based on product type (cord blood-derived growth factors, cord blood cell therapy products, cord blood units), therapeutic area (oncology, hematology, immunology, metabolic disorders, and others), storage status (fresh cord blood products, frozen cord blood units, cryopreserved cord blood products), application (transplantation, regenerative medicine and others), end-user (hospitals, cord blood banks, academic and research institutes and specialty clinics) across regions.

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About Healthcare Division at Future Market Insights

Future Market Insights facilitates corporates, government, investors, and associated audiences in the healthcare sector to identify and accentuate vital aspects applicable to product strategy, regulatory landscape, technology evolution, and other crucial issues to achieve sustainable success. Our unique approach to gathering market intelligence equips you to devise innovation-driven trajectories for your business.

Author

Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.

Identifying key challenges clients face and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in areas such as Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.

Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

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