India Cord Blood Banking Services Market Assessment, By Service Type [Sample Preservation and Storage, Sample Analysis, Sample Processing, Sample Collection and Transportation], By Component [Cord Blood, Cord Tissue], By Storage Type [Public Cord Blood Banks, Private Cord Blood Banks], By Application [Cancer, Blood Disorders, Fertility Disorders, Immune Disorders, Others], By End-user [Hospitals, Research Institutes and Academic Centers, Fertility Clinics, Others], By Region, Opportunities and Forecast, FY2018-FY2032F

India cord blood banking services market is projected to witness a CAGR of 7.75% during the forecast period FY2025-FY2032, growing from USD 132.55 million in FY2024 to USD 240.84 million in FY2032.

India market for cord blood banking services has grown significantly because of recent advancements in technologies and the growing demand for efficient solutions. One of the primary factors propelling market expansions in the country is most of the population's declining reproductive health owing to the sedentary lifestyles and shifting environmental conditions. The taboo that is still associated with infertility issues in women are now dissolving, and people are more freely availing these medical options as awareness spreads more around the country. Furthermore, the market's growth trajectory is being reinforced by government investments in healthcare infrastructure, advancements in technology, and the growing demand for cutting-edge solutions. Rapid advancements in healthcare, particularly in Asia-Pacific, present lucrative prospects. For example, the largest and most reputable stem cell bank in India, LifeCell International Limited, unveiled a revolutionary stem cell banking solution in November 2023 at the lowest cost in the world. The key component of this novel product is umbilical cord blood stem cells, which have been utilized in more than 30,000 successful transplants globally over the previous 25 years. This launch coincides with the global observance of the 25th anniversary of umbilical cord blood stem cell treatments.

Scientific Innovations Boosting Market Growth

One of the main factors propelling the growth of India cord blood banking services market is the advancements in stem cell research. The scientific community has advanced our knowledge of the therapeutic potential of stem cells, particularly those present in cord blood, over the years. Numerous illnesses, including leukemia, sickle cell anemia, and even some neurological disorders, can be treated with stem cells. Expectant parents are interested in the increasing amount of evidence that supports the clinical use of cord blood stem cells in immunotherapy, gene therapy, and regenerative medicine. Since cord blood storage may one day lead to life-saving treatments, this increase in scientific support has increased its appeal. As a result, more families opt to store their newborn's cord blood, fostering the growth of cord blood banking services in India. StemCyte India Therapeutics Pvt. Ltd. has adopted a hybrid banking model that combines private and public banking. This model enhances sustainability and expands the potential for stem cell utilization, making it a comprehensive approach to cord blood banking.

Improvements in Healthcare Infrastructure Boosting Market Growth

An important factor driving the expansion of the cord blood banking market in India is the ongoing development of the country's healthcare system. The emergence of cutting-edge healthcare facilities, such as clinics, hospitals, and private healthcare providers offering specialized services, has made cord blood banking more widely available. The safe collection, processing, and storage of cord blood is guaranteed by the growing availability of cutting-edge medical technologies. Additionally, the market's consumers have grown as healthcare services have expanded in both urban and rural locations. The need for cord blood banking services rises as more healthcare facilities and hospitals incorporate it into their services. Moreover, the government’s investment in healthcare infrastructure has improved public and private partnerships, providing better healthcare delivery, which indirectly boosts the awareness and uptake of cord blood banking services. For instance, in October 2023, the Singapore Exchange-listed Cordlife Group Limited established its Indian affiliate - Cordlife Sciences India Pvt Ltd, an advanced diagnostic laboratory in Kolkata. The purpose of this new facility is to serve as a testing center for Cordlife India, meeting the medical needs of the company's current stem cell banking customers and their families as well as those of surrounding patients, medical professionals, and doctors.

Government Initiatives Fueling the Market Growth

Government initiatives and support have been an important factor in the growth of the India cord blood banking services market. Indian government’s focus on biotechnology and healthcare is creating a conducive environment for the expansion of stem cell-based services, including cord blood banking. Various government-backed programs and policies are aimed at boosting the biotechnology sector, with a specific focus on stem cell research and applications. Additionally, the government's efforts in spreading awareness about stem cell therapies have enhanced public interest in preserving cord blood for future medical use. Initiatives such as funding for research, collaborations with international biotech firms, and regulatory frameworks to ensure ethical practices are further accelerating market growth. Moreover, government support in improving healthcare accessibility, funding public awareness campaigns, and encouraging investment in stem cell technology have all contributed to making cord blood banking services more available and affordable to the Indian population. For example, the Indian government enhanced stem cell research in February 2022, by utilizing a number of departments and institutions. National funding organizations including the Department of Biotechnology (DBT), the Department of Science and Technology (DST), and the Indian Council of Medical Research (ICMR) provided assistance for both basic and clinical research as part of this endeavour. In addition to supporting industrial activities in India, these measures have resulted in the construction of state-of-the-art facilities at over 40 prestigious health research and educational institutes.

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Future Market Scenario (FY2025 – FY2032F)

Many factors claim the growth of India cord blood banking services market. Technological advancements give faster and more accurate results leading us to early diagnosis. Opportunity also lies in the increasing number of fertility concerns that the population is facing today. Promising initiatives of our government that provide healthcare infrastructure, funds to carry on research and development on a large scale, and a reliable distribution channel that ensures the solution reaches everyone is testimonial. For instance, from primary healthcare facilities to sophisticated tertiary care hospitals, India currently has a vast healthcare infrastructure. One of the biggest healthcare systems in the world is expected to grow because of increased public and private sector investment. To increase access to high-quality healthcare for a larger portion of the population, developers are currently collaborating with healthcare providers to build cutting-edge facilities in tier 2 and tier 3 cities as well as metropolitan areas.

Report Scope

“India Cord Blood Banking Services Market Assessment, Opportunities, and Forecast, FY2018-FY2032F”, is a comprehensive report by Markets and Data, providing in-depth analysis and qualitative and quantitative assessment of the current state of the India cord blood banking services market, industry dynamics, and challenges. The report includes market size, segmental shares, growth trends, opportunities, and forecast between FY2025 and FY2032. Additionally, the report profiles the leading players in the industry, mentioning their respective market share, business models, competitive intelligence, etc.

Report Attribute	Details
Base Year of the Analysis	FY2024
Historical Period	FY2018-FY2023
Forecast Period	FY2025-FY2032
Projected Growth Rate	CAGR of 7.75% between FY2025 and FY2032
Revenue Forecast in FY2032	USD 240.84 million
Segments Covered	Service Type, Component, Storage Type, Application, End-user
Regions Covered	North, South, East, West and Central
Key Companies Profile	Cordlife India Private Limited, LifeCell International Private Limited, Cryoviva Biotech India Private Limited, StemCyte India Therapeutics Private Limited, Reliance Life Sciences Private Limited, BabyCell India Private Limited, CReATe Cord Blood Bank, CryoVault Biotech India Private Limited, NovaCord Stem Cell Bank, ReeLabs Stem Cell Bank
Customization Scope	15% free report customization with purchase
Pricing and Purchase Options	Avail the customized purchase options to fulfill your precise research needs
Delivery Format	PDF and Excel through email (subject to the license purchased)

In the report, the India cord blood banking services market has been segmented into the following categories: 

• By Service Type
  • Sample Preservation and Storage
  • Sample Analysis
  • Sample Processing
  • Sample Collection and Transportation
• By Component
  • Cord Blood
  • Cord Tissue
• By Storage Type
  • Public Cord Blood Banks
  • Private Cord Blood Banks
• By Application
  • Cancer
  • Blood Disorders
  • Fertility Disorders
  • Immune Disorders
  • Others
• By End-user
  • Hospitals
  • Research Institutes and Academic Centers
  • Fertility Clinics
  • Others
• By Region
  • North
  • South
  • East
  • West and Central

Key Players Landscape and Outlook

Key players in the cord blood banking services industry utilize strategies such as mergers, acquisitions, partnerships, and new product launches to improve their services and competitiveness. Such efforts will propel significant growth in the market, allowing big-cap industry players to increase their presence and, therefore, find new opportunities in this market.

For instance, to increase shareholder value, Cryo-Cell International, Inc. announced in March 2024 that it will spin off its subsidiary, Celle Corp. This can positively impact the cord blood banking services in India by being able to expand further and bring cutting-edge technology which will open the room for this market to grow.

Recent advancements indicate that stem cell research is a top focus in India. The US-based company StemCures stated in May 2023 that it will invest a substantial $54 million to build the largest stem cell production facility in India in Hyderabad. Furthermore, Stempeutics Research Pvt. Ltd. has achieved great progress by bringing India's first allogeneic stem cell therapy, Stempeucel, to market. This ground-breaking treatment is intended to restore blood flow in ischemic areas, giving patients all over the world hope.

Key Players Operating in India Cord Blood Banking Services Market are:

• Cordlife India Private Limited
• LifeCell International Private Limited
• Cryoviva Biotech India Private Limited
• StemCyte India Therapeutics Private Limited
• Reliance Life Sciences Private Limited
• BabyCell India Private Limited
• CReATe Cord Blood Bank
• CryoVault Biotech India Private Limited
• NovaCord Stem Cell Bank
• ReeLabs Stem Cell Bank

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