- Cord stem cell banking is the process of collecting and storing stem cells from the umbilical cord blood or tissue, which can be used in the future for treating various medical conditions such as leukemia and blood disorders
- The cord stem cell banking market is growing rapidly due to the increasing adoption of stem cell storage services for future medical use, with more families opting to preserve umbilical cord blood after childbirth
- For instance, Cord Blood Registry has stored over 500,000 cord blood units, helping families secure potential treatment options for various diseases
- Advancements in stem cell research are significantly driving the market. Institutions such as the Harvard Stem Cell Institute have made breakthroughs in regenerative medicine, investigating how stem cells can potentially treat conditions such as Parkinson’s disease, which boosts the interest in cord blood banking
- The rise in both private and public cord blood banks is also contributing to market growth. New York Blood Center is one of the largest public cord blood banks in the world, providing cord blood for life-saving transplantations and clinical trials for diseases such as leukemia and sickle cell anemia
- Growing awareness about the benefits of cord stem cells in treating a variety of diseases, including genetic disorders and blood cancers, is encouraging more parents to store their children’s cord blood
- For instance, Cryo-Cell International reports a rise in family interest in banking due to these health benefits
- Ongoing investments in stem cell research and technology are expanding the availability of cord blood services. Companies such as LifebankUSA are leading the charge, partnering with hospitals and research institutions to make stem cells more accessible for regenerative therapies, including those for heart disease and spinal cord injuries
