Cryo-Save India set to expand cord blood banking business to rural areas in north, western regions
Cryo-Save India, the largest adult stem cell and cord blood bank in the country is looking forward to expand its presence in the rural market. The company has already invested $ 3 million during the last two years and is now working out modalities to expand its foot print to north and western India.
The huge untapped pool of potential pregnant mothers in the Tier II and Tier III towns is viewed as a potential source to collect and store cord blood and umbilical cord tissue which could be utilized for future treatment option of their children and relatives.
According to Dr Cherie Daly, consultant, Medical Affairs, Cryo-Save Group, Netherlands, extensive clinical trials and treatments in hospitals globally have proved that stem cells storage could considerably ease treatment options in the event of disease threats of the donors. There are already several diseases treated with stem cells and the number of treatments will only increase. Driven by an international business strategy, Cryo-Save is now represented in 40 countries with advanced processing- storage facilities in Belgium, Germany, Dubai, India and France.
“In case, if a women misses the opportunity to donate cord blood, the company also offers preservation of adult adipose tissue which is also found to be a rich source of stem cells that can be used by surgeons for reconstructive surgeries in accident-trauma and burns cases in India. Cryo-Save will commence collection and storage of adipose tissue early next year in India,” stated Dr Daly.
Dr Daly was in India to educate doctors about stem cell treatment for cellular and regenerative medicine. “Efficacy of stem cells for cardiovascular diseases, neurological disorders, cancer, auto immune conditions Thalassemia and transplants among others has convinced the medical fraternity worldwide not to throw away these resourceful cells and instead preserve them for future healthcare needs. Indian hospitals need to ensure that adult cord blood storage would be a major cost-effective option and an awareness needs to be created across urban and rural areas,” she added.
Seventy percent of India’s population are in the rural areas which opens up a gold mine of opportunities to seek expectant mothers to store cord blood, Rajesh Sharma, managing director, Cryo-Save India told Pharmabiz.
Cryo-Save lab and storage centre at Whitefield in Bangalore, has a capacity for 150,000 samples and extendable to 300,000. “In the last two years, the company has managed to attract 7,000 samples from the urban hospitals only and is now working to convince parents from the rural areas to opt for collection and storage of cord blood ,” stated Cryo-Save India’s MD.
Rural market penetration requires a different approach. There is need to comprehend the socio-economic dynamics. Cryo-Save has worked to re-jig strategy to device a local approach to gain trust and familiarly, depend on referral and word of mouth publicity to succeed in scores of medical centres in towns. It is now organizing two continuing medical education programmes in Bangalore and Ahmedabad and many more will follow to educate and create an awareness among gynaecologists and other specialists on the convenience, efficacy and long-term worth of cord blood and adipose tissue to treat some of the life threatening diseases and disorders, stated Sharma.