INTRODUCTION & THEORITICAL BACKGROUND
The study was conducted in Gurgaon. In the private banking segment, Cryobanks has competition from a few domestic players, such as Reliance Life Sciences and life cell. Only 15,000 clients have their children's stem cells preserved every year in India. This pales in comparison to China, Europe and the U.S., which each report 100,000 clients on average. The global market for stem cell therapies is expected to be $20 billion (Rs 92,593 crore) by 2010. The current stem cell therapy market in India is approximately $540 million and it is expected to grow rapidly. This shows the scope in the market for stem cell banking. India is one of the few countries in the world pursuing stem cell research. But regenerative medicine, comprising stem cell therapies and tissue engineered products, is at a nascent stage in India. The stem cell banking industry is new in India. It is merely 10 years old industry with few big companies operating in the market. Common man is not much aware about the services provided by these companies. The services are costly that is beyond the reach of the middle class people. The technology is new, so there is some dilemma related to the success rate and reliability of the services provided by the companies. There no any regulatory body to watch on the activities of these companies. There is no such law to be followed by the company. This study will help the Cryobanks International to design their strategies in further market penetration. This field is not much known by customers, so it will also focus on understanding customers and competitors to penetrate the market effectively. Now at this level company would be able to take specific steps in order to increase market share. Customer satisfaction level can be analyzed along with their desire and steps to be taken to satisfy those desires. As the majority of the people are not aware about stem cells and their use, so this study will explore the ways in which people can be made aware about this and its application of curing life threatening diseases. So the new untapped market of the middle class and lower middle class can also be tapped. 1.2. THEORITICAL BACKGROUND
1.21 Stem cells and their importance
Stem cells have the remarkable potential to develop into many different cell types in the body during early life and growth. In addition, in many tissues they serve as a sort of internal repair system, dividing essentially without limit to replenish other cells as long as the person or animal is still alive. When a stem cell divides, each new cell has the potential either to remain a stem cell or become another type of cell with a more specialized function, such as a muscle cell, a red blood cell, or a brain cell. Stem cells are distinguished from other cell types by two important characteristics. First, they are unspecialized cells capable of renewing themselves through cell division, sometimes after long periods of inactivity. Second, under certain physiologic or experimental conditions, they can be induced to become tissue- or organ-specific cells with special functions. In some organs, such as the gut and bone marrow, stem cells regularly divide to repair and replace worn out or damaged tissues. In other organs, however, such as the pancreas and the heart, stem cells only divide under special conditions. Until recently, scientists primarily worked with two kinds of stem cells from animals and humans: embryonic stem cells and non-embryonic "somatic" or "adult" stem cells. The functions and characteristics of these cells will be explained here. Scientists discovered ways to derive embryonic stem cells from early mouse embryos nearly 30 years ago, in 1981. The detailed study of the biology of mouse stem cells led to the discovery, in 1998, of a method to derive stem cells from human embryos and grow the cells in the laboratory. These cells are called human embryonic stem cells. The embryos...
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