One of the most lucrative business opportunities in the healthcare sector, stem cell banking has gained immense popularity in emerging economies, especially India. A radical innovation in the medical field, stem cells hold the promise of curing a number of persistent diseases, making them a major disruptor in the life sciences industry.
At present, there are close to 200 stem cell banking service providers around the globe. Our industry experts expect this number to grow substantially in the coming years. While countries like Japan, Taiwan, Korea, and Singapore do already have a high penetration of stem cell banks, countries like the US, China, and India are catching on with the business opportunities in the stem cell market.
Understanding the global need for stem cell banks
Increased awareness with regards to the benefits of stem cells is the prime driver for stem cell banks. However, it was right after the former US President Barack Obama lifted the ban on government supported funding for embryonic stem cell research that stem cell banks emerged as a critical and viable business opportunity.
On the whole, the stem cell banking market at the global level is immensely fragmented. While there is a good mix of international and regional names, the former clearly dominates this market due to the availability of better funding, cutting edge infrastructure, R&D capabilities and importantly, brand value. AMAG Pharmaceuticals, Cryo-Cell International, and Esperite, for instance, are some of the leading names in the global stem cell banking market.
India– The future of stem cell banking is here!
With around 26 million births a year, India is set to be one of the largest hubs for the harvest of umbilical cord blood. This lucrative opportunity explains the growing interest of the leading stem cell banking companies in India. Several associated companies, backed by quality foreign investments have set-up shop in the Indian subcontinent. According to the market research experts at Technavio, millions of dollars worth of investments will be made over the course of the next five years.
The major driver for stem cell banking in India is undoubtedly government initiatives such as “Make in India”. The fact that India is also one of the most sought-after destinations for medical tourism, along with its favorable regulatory environment, have further elevated the country as the next preferred destination for stem cell banking.
Furthermore, private players like Lifecell International, Reliance LifeSciences, Cryo-Save (India) Pvt. Ltd, and public cord blood banks like Jeevan Stem Cell Blood Bank have completely reinvented this budding industry in India. Thoughtful inserts like EMI payments, make it a lot more easier and practical for prospective clients to access stem cell facilities for a myriad of treatments.
In Summation- Medical breakthrough meets serious business opportunity!
According to a credible estimate, in the last 25 years, umbilical cord blood stem cells have been used in 30,000+ stem cell transplant procedures as treatment for over 80 medical conditions. As is obvious, this plane of research is a giving tree that will likely find newer cures and discoveries to alleviate pain and suffering amongst the common people. As the value of this remarkable science increments in stature amid its target audience- the associated business opportunities will be many, and infinitely profitable.
