Stem Cells have a remarkable ability to develop in various body cells of a human. These occur in the earliest stages of human development to adulthood and can be found in numerous areas of human body. Totipotent, Pluripotent, Multipotent, are different types of stem cells differentiated on the basis of level of potency. Embryonic, fetal, umbilical cord, placenta, adult are certain sources of stem cells in a human body. Also, stem cells have certain therapeutic properties, including the ability to migrate to the site of injury, ability to differentiate, and ability to self replicate.
Today, stem cell banking is being witnessed as one of the most promising and emerging fields of life sciences. The stem cell banking market is further expected to witness increased significant growth as the market reach increases, regulatory approvals grow for stem cell based products and the resistance to private banks declines.
Over 170 different cord blood banking service providers are offering services in different regions of the world. This number is expected to grow significantly in the coming five years. At present, countries such as Korea, Japan, Taiwan, and Singapore, etc. have high penetration rates of stem cell banking ranging from 15% to 30%. Regions such as, US, Europe, China and India have low penetration rates of around 5%. Low population density, insufficient awareness and general misconceptions are the leading reasons behind the same.
Over six private players are operating in the stem cells market of India, as India is poised to be the largest source for umbilical cord blood in the world. In the recent years, majority of transplants that took place in the country have been from stem cells derived from bone marrow. However, the trend is expected to shift from the use of stem cells from bone marrow to the use of stem cells from embryos.
EMI schemes are being offered by private players in the stem cell banking market of India. Such schemes are expected to help clients in choosing better services and easier options for banking, thus boosting growth in the stem cell banking market of India. The cost of processing and storing stem cells is one of the most critical factors affecting business in the stem cell banking market of India. Since the procurement of items not manufactured in the country leads to huge amount of payment towards taxes and duties, the cost of the process increases significantly.
The report titled ‘Indian Stem Cell Banking Market: Trend and Opportunities (2012-2017)’ provides an in-depth analysis of the Indian stem cell banking market with major focus on cord blood banking segment. The report assesses key opportunities in the market and outlines the factors that are and will be driving growth in future. Further, key players of the industry like Reliance Life Sciences, LifeCell Interbnational Pvt. Ltd., Cryobanks International India, Stempeutics Research Private Limited, Tran-Scell Biologics Pvt. Ltd., CordLife Sciences India Pvt. Ltd. have been profiled and growth of the industry has been predicted taking into consideration the previous growth patterns, the growth drivers and the current and future trends.