Stem Cell Banking has emerged as new opportunity of healthcare services provider in Indian market. The market is still in nascent stage of development and valued at more than INR 400 Crore (US$ 70 Million) in 2013. The current stem cell preservation level for new born baby is below 1% and hence there exists immense opportunity for stem cell preservation service providers to grow exponentially in coming years. With more than 20 million births every year there exist ample market opportunity for large number of stem cells banks to enter Indian stem cell preservation market and expand their services portfolio. The market potential of stem cell banking in India is valued at more than US$ 350 Million at preservation level of 1% which can increase to more than US$ 1 Billion at stem cell preservation level of 3% for new born babies.
Many factors have actively contributing towards this overwhelming success stem cell banking in India and one of the major reasons for its success has been collaborations. Apart from handling the main stage single handedly, much collaboration both national and international has come to meet this upsurge. Growth in this sector can further be enhanced based on increased percolation of the middle class, which is thought to possess largest spending power, defined regulatory framework to help ensure that ethics and morals are well considered and complicate is ensured for maintaining quality parameters.
India is poised to emerge as the largest source for umbilical cord blood given the very high birth rate in the world. Since umbilical cords are the richest source of stem cells, it s no surprise then that leading stem cell banking companies are keen on shifting their stem cell bases in India. Till date around six major private players, both Indian as well subsidiaries of international companies are operating in the stem cell banking market of India.
“India Stem Cell Banking Market Analysis” research report outlines following aspects related to booming stem cell banking in India: