Chennai, Aug 14 (IBNS)
Stem cells derived from the umbilical cord are known to have the potential to treat over 75 serious medical conditions.
To enhance awareness, LifeCell partnered with model and actor Lisa Ray, who had undergone successful stem cell therapy for treatment of blood cancer.
Lisa continues to endorse the brand.
Whilst India is the worlds largest birthing country, the penetration of the stem cell storage has been a dismal 0.2pc compared to the global average which is between 5pc in the US to as high as 25pc in Singapore.
LifeCell said it believes that poor awareness rate and per capita income are the primary reasons for low penetration in the Indian market, yet is optimistic that India would soon reach the global benchmarks.
Mayur Abhaya, Managing Director and CEO said, When we launched our services in 2004 the medical fraternity was not even aware of the concept of stem cell banking. It was our responsibility to create awareness amongst both the doctors and the expectant parents about its enormous scope in the future.”
The stem cell storage industry is growing at a rate of 30-40pc per year. More and more innovative services have been launched in the space of stem cell preservation such menstrual blood banking. (IBNS)
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LifeCell gets 50,000 customers in stem cells banking