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CordLife Looks to India as a Stem Cell Market

In Kolkata, a top official said that one of the leading stem cell banking groups in the Asia Pacific region, CordLife, is targeting an expansion of its business into China and India.

“We’re looking at India and China as two big markets in terms of our stem cell business in the Asia Pacific region – keeping in mind the huge birth rate in these two countries,”  Steven Fang announced and told IANS on Wednesday during a press conference.  Steven Fang is CordLife group’s chief executive.

“We’re presently in talks with a large number of big government and private hospitals across India to tie up with them for stem cell therapy treatment.”

He mentioned that the company was growing at a rate of 70 percent in terms of its actual client base, and also registered 30 percent growth in its net profit last year.

“Once this stem cell therapy gets commercialized in this country, we’re sure there would be more growth in this particular healthcare sector,” says Fang.

CordLife operates Asia’s largest network of strictly private cord blood banks with full processing and specialized storage facilities in Hong Kong, Singapore, Indonesia and India.  It has a strong presence throughout the Asia Pacific region as a whole.

The company set up its first storage facility in Kolkata early this year and they have a present capacity of storing about 40k cord blood units with a potential to store as many as 150k cord blood units.

“The total size of India’s stem cell preservation market is about 15,000 units per annum and it’s growing at a rapid pace.  The growth rate has been approximately 42-50 percent per year,” said CordLife managing director Meghnath Roy Chowdhury.

Cord blood has become a very common source of stem cells to be used for transplants.  Permanent cures are possible for some diseases using stem cell therapies.

According to doctors, stem cell therapy can be used for treating various diseases such as heart ailments, diabetes, skin trauma,  and certain cancers like leukemia and breast cancer, and blood disorders like thalassemia major.

Umbilical cord blood, which is also called “placental blood”, is the blood remaining in the umbilical cord and placenta following a childbirth and after the cord is cut. Cord blood is usually discarded with the placenta and umbilical cord. 

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