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Cord blood contains all the normal elements of blood-red blood cells, white blood cells, platelets and plasma. But it is also rich in hematopoietic (blood-forming) stem cells, similar to those found in bone marrow. This is why cord blood can be used for transplantation as an alternative to bone marrow.
Cord blood is usually only used in treating diseases in children. Since only 3 to 5 ounces are taken from the cord, and since cord blood has a limited number of stem cells, there just isn't enough to treat most adults.