Cryo-Save India, a 100 per cent subsidiary of Belgium-based Cryo-Save Group aims to have a market share of 20 per cent from Gujarat in the stem cell storage banking segment next year.
Cryo-Save, which is presently is in the R&D stages for cord blood and cord lining services for pregnant women, aims to launch the service in six months' time.
According to VR Chandramouli, managing director, Cryo-Save India, who was in Ahmedabad to launch the group's first office in Gujarat on Friday, "Gujarat has immense potential and a huge market for stem cell banking services. According to last year's census, Ahmedabad stands fourth with a demand for 18,000 cord blood cells. To bridge this gap, we are keen to expand our footprints across Gujarat and have also tied up with many doctors and hospitals to get to our target group."
To begin with, Cryo-Save expects a market share of 10 per cent from Gujarat. "We are looking at conquering 20 per cent of the market share in Gujarat by next year. In the next five years, we plan to launch a variety of services. For instance, in the next six months, Cryo-Save will introduce new services for pregnant women and R&D is on for cord blood and cord lining services," Chandramouli added.
Cryo–Save India offers combined services of cord blood and cord lining for Rs 90,000 for collection, processing and storage of cord blood and collection, preparation of cord lining for storage and for storing only cord blood will cost Rs 75,000.
To make the service more affordable Cryo –Save India also offers the service on an installment base. The cord blood stem cells and cord lining is stored for a period of 21 years in a state of the art facility with highest quality standards observed during the period.
Cryo-Save India is the only company in India that offers dual-storage system and drives on automatic process to avoid manual intervention and contamination of the cord blood, which also helps in collecting 30 per cent more cells from the cord blood, Chandramouli said.
Stem cells are the natural repair kit of the human body in the last 18 years more than 20,000 patients have been treated with cord blood stem-cells transplantations in over 150 countries.
Umbilical cord blood stem cells have been used over the years in an increasing number of treatments including leukemia, myelodysplastic syndrome, lymphomas, red cell disorders and more. Currently, stem cell research is being done for more than 85 diseases
Cryo-Save Group, a company listed on the London Stock Exchange, set up its India operations in December 2008.
The company enjoys a 12 per cent share of the stem cell industry in India.
