Cord blood banking to drive the US stem cell market
The cord blood banking is one of the upcoming segments in the stem cell market across the world. The market for stem cells is constantly evolving, with researches going on to exploit the true potential of the market worldwide.
According to the research firm, the US is the major market for stem cell therapy as it has some key advantages over other countries. The US is the major market for cord blood banking.
The market is expanding on the back of growing awareness of stem cell storage and various developments taking place in the global stem cell market. This favorable publicity is expected to further accelerate the growth of the market, although the problems in practical applications of stem cells will loom large, said the research firm.
RNCOS has found that the restrictions imposed by the Bush Administration eight years back on the federal funding of embryonic stem cells research had negative impact on the US embryonic stem cell product market. But, the Obama Administration has lifted up the restrictions and opened up new growth avenues.
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