High therapeutic potential of stem cells for treating genetic diseases to aid in growth of Stem Cell Banking Market – The Manomet Current

Stem cells have the potential to transform to any tissue or organ in the body. Stem cells can be found in bone marrow, fetal tissues, baby teeth, fat, human embryos, hair follicles, muscle, and circulating blood, however, cord blood is an effective source of stem cells. Stem cells from cord blood are preferred due to various advantages such as efficacy in transplant due to less chances of immune rejection during the transfusion. Numerous applications of stem cells such as treatment in various diseases such as cancer, have led to demand for stem cell banking. These stem cells are collected from humans and preserved for the future use.

Major Company Profiles Covered in This Report:Allergan, Plc., Galderma S.A., Integra LifeSciences Corporation, Merz Pharma GmbH & Co. KGaA., Sanofi S.A., SciVision Biotech Inc., Sinclair Pharma Plc., Suneva Medical, Valeant Pharmaceuticals International, Inc., and Anika Therapeutics, Inc.

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According to the survey by Seattle Childrens Hospital and Research Center, 2013, the survival rate of patient with cancer after stem cell transplant for period of one year was 84% globally. Growing public awareness for stem cell storage is also contributing to stem cell banking market growth.

Additionally, new clinical trial data that supports applications for hematopoietic stem cells from mesenchymal stem cells and cord blood is expected to help in growth of stem cell banking market. Moreover, various organizations are supporting stem cell banking, which is expected to aid in growth of the market.

For instance, in 2012, Harvard University and University of Cambridge announced plans to set up a new stem cells research center, funded by Medical Trust UK and UK Medical Research Council, to conduct research on stem cells and their potential to treat a range of life-threatening conditions. However, low availability of cord blood units, globally and high cost for maintenance are hindering growth of the stem cell banking market.

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High therapeutic potential of stem cells for treating genetic diseases to aid in growth of Stem Cell Banking Market - The Manomet Current