Benefits of banking a baby’s cord blood include providing future treatment for some cancers as well as other rare diseases, such as sickle cell anemia, lymphoma and leukemia, that the child may develop, explains Healthline. The newborn’s umbilical cord blood provides a rich supply of stem cells, which offer a safer alternative to bone marrow transplants as these cells do not pose a risk that the body may reject them.
Relatives can also use a baby's cord blood, explains the Parent’s Guide to Cord Blood Foundation, allowing for higher survival rates. Children whose parents banked their cord blood may have better access to emerging stem cell therapies, as well. However, the chances that a child requires one unit remains less than half of one percent, as of 2015.
Parents consider storing a baby’s cord blood in a private bank for a fee as a form of insurance for the health of their children, explains Healthline. About 96 percent of all patients requiring a cord-blood transplant find a match since it is much easier to find a stem-cell match than a bone-marrow match. As of October 2015, there are more than 30 private family cord-blood banks in the United States alone.