Published on : Dec 23, 2015
Cord Blood Banking refers to the collection and storage of cord blood that remains in the umbilical cord and placenta vein at the time of birth. Currently, Cord blood is used in treating more than 80 life-threatening medical conditions. Use of cord blood has shown miracles in treating diseases that have no cure till date. The proven capabilities of the cord blood cells have opened new horizons for companies and are leading them to start with cord blood banking services across the globe. Cord blood banking services work in two ways: private banking and public banking.
In private cord blood banks, or also known as family banks the parents or relatives of the child have to bear charges for collecting, storing, and maintaining the units at the time of birth. Apart from using these stem cells for treatments, the banks provide an option of using them for research and investigation purposes for medical conditions that have no cure at present. Most private banks offer free access to the cord blood banking for a family member who has been identified with a qualifying medical condition that may be treated with a stem cell transplant.
In public cord blood banks, the cord blood units are donated and are made available for public as per suitable match. In public banks, the relatives of the patient, for whom the cells are going to be used needs to bear the maintenance charges. Moreover, the public cord blood banks and other medical organizations have shown a keen interest in researching and investigating the potential clinical utilization of the stored cord blood cells in regenerative and repopulate applications. These banks provide a core public health function and further distribute the donated cord blood cells to a suitable patient who is in need of a transplant. In this case, the donor of the cord blood cell remains anonymous. Units that are not used in suitable criteria can be discarded or can also be used for the purpose of advance research in this field.
Increased parental awareness and technological advancements are some of the major factors that are boosting the demand for cord blood banking services in the near future. In addition, applications of these cells for various therapies that have no cure are forcing institutions to set more banks and attracting parents to invest in either public banks or private banks.