LifeCell, India’s largest accredited stem cell banking company has unveiled an affordable package in umbilical cord blood stem cells banking. The new pricing is part of its initiative of completing 25 years.
In order to give a fillip to this concept in India, the company has roped in Aishwarya Rai Bachchan, a patron of LifeCell and goodwill ambassador for stem cell banking who reinforced the value of stem cell banking on the occasion and stated this as the best gift parents can give for their child.
With over a lakh of children’s stem cells banked in India, the private stem cell banking industry here is valued at Rs.200 crore and estimated to touch Rs.2700 crore by 2020, accounting for 17 per cent of the world’s market.
More parents are recognising the importance of banking their child's umbilical cord blood in the event of an unexpected lifesaving transplant treatment in the future. “We understand the importance of educating expectant parents on the value of umbilical cord banking. In this 25th year, the effort is to offer an affordable umbilical cord blood stem cell banking to reach out to maximum number of families,” said Mayur Abhaya, managing director & CEO, LifeCell.
The company currently has over 80,000 customers in India who have preserved their baby’s stem cells. “We see this growing manyfold over the next few years aided by awareness and affordability, thereby potentially making us from India’s largest stem cell bank to the world’s largest stem cell bank,” he added.
Umbilical Cord Banking is becoming increasingly popular for expecting parents as a unique form of insurance since it provides them the assurance about their child’s safe, healthy and secure future. As a Patron of LifeCell and Goodwill Ambassador for Stem Cell Banking, Aishwarya Rai who opted for Lifecell’s services, said that it was a privilege to educate expectant parents on the significance of banking umbilical cord stem cells because it could secure a baby’s future health against many serious medical conditions. Also advancing stem cell research would only increase the benefits.
Other celebrities who have chosen LifeCell include Hrithik & Suzanne Roshan, Raveena Tandon & Anil, Manyata & Sanjay Dutt and Madhavan among others.
In 2005, there were around 25 stem cell banks worldwide which has touched 500 in 2013. In 2004, it was LifeCell in a technical collaboration with Cryo-Cell International that introduced the concept of umbilical cord stem cell banking in India.
There is a regulation in place in the US to create awareness on cord blood banking and financial aid is provided in countries like Singapore. Despite the increasing number of births, India lags behind world indicators with extremely low public cord blood units and lack of bone marrow donors. Therefore, there is a dire need to address both awareness and affordability to increase adoption of stem cell banking, stated the company.