Western European Cord Blood Market Expands
Cord blood technology has been around for over 20 years, but it is only been recently that it has been getting the type of attention it deserves. Across Canada and the United States, doctors have been performing cord blood transplants since the early 1990s. In other parts of the world, however, families are just beginning to realize the benefits of banking and donating cord blood.
In Romania, the first harvest of cord blood stem cells took place in 2006. Although the market only started to flourish just five years ago, it has seen a great deal of development in a very short amount of time.
At that time, there was only one cord blood bank available to the public, "Cluj-Napoca". In just over 5 years, the company has obtained more than 45 000 clients, who wish to bank their children's cord blood in case a family member ever requires a stem cell transplant in the future.
Every year, the number of Romanians who bank their children's cord blood sees significant growth. Experts believe that the market sees 10% growth every year. Currently, 8% of all parents who give birth in the country bank their children's cord blood, it is hoped and that the number will grow to 10% in the near future. The current average across Europe is just 3%, so Romanian is currently one of the fastest-growing markets for cord blood banking.