Cryobanks Market Share Analysis
CHAPTER 1
INTRODUCTION & THEORITICAL BACKGROUND
1.1 Introduction:
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
INTRODUCTION & THEORITICAL BACKGROUND
1.1 Introduction:
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
Bibliography: * http://www.indiaprwire.com/pressrelease/medical/2009110536990.htm (AUGUST 12,2010) * http://www.business-standard.com/india/news/india-inc-finds-stem-cellshealthy-business/363866/ (AUGUST 16,2010) * http://knowledge.wharton.upenn.edu/india/article.cfm?articleid=4459 (SEPTEMBER 1,2010) * http://www.expresshealthcare.in/200704/coverstory03.shtml (AUGUST 29,2010) * http://www.Cryobanksindia.com/ (JULY 27,2010) * http://www.relicord.com/ (JULY 27,2010) * http://www.lifecellinternational.com/ (JULY 23,2010) * http://www.cordlifeindia.com/?gclid=CKm1i7nanqQCFcdR6wodfzTOFg (AUGUST 26,2010)