While urban India is no stranger to the concept of stem cell banking, questions about its financial viability still arise – especially when different types of stem cell banking are taken into account. Not only does each type offer its own benefits, they come with their own price tags (or lack thereof) too. This makes choosing between them all the more confusing. However, do not worry as in this article, we will break down each type of stem cell banking to understand which one is the best for you. Let’s begin!
Understanding Stem Cell Banking
Stem cell banking is the process of collecting stem cell-rich blood from the severed umbilical cord of your baby during childbirth. It’s a safe, pain-free process for everyone involved and doesn’t interfere with pregnancy, labour or the joys of childbirth in any way.
Collected stem cells can be used in the future to treat 90+ diseases including cancers, blood disorders, immune system conditions. Emerging research keeps revealing their potential in treating a number of other conditions too. Plus, stored stem cell units are not only useful for the baby but also their family as close members in need of a stem cell transplant are likely to be a good match.
Difference Between Private vs Public vs Community Stem Cell Banking
In India, three major types of stem cell banking exist, and most parents debate over which one of them would be best for their needs. These include:
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Public Cord Blood Banking: This involves the collection and storage of cord blood in a public donation pool, which is accessible to anyone who requires a stem cell transparent. It’s free of cost. However, parents do not have exclusive rights over the cord blood they deposit in this type.
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Private Cord Blood Banking: The most expensive choice of the three, private cord blood banks charge a considerable fee to collect and store stem cells during the birth of your child. However, they guarantee exclusive access to the samples you deposit, even though you have to pay a hefty fee annually for the same.
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Community Cord Blood Banking: Very few cord blood banks provide this type of service in India. LifeCell’s Community Stem Cell Banking combines the advantages of both private and public cord blood banking, making it a hybrid option for cost-conscious parents. It provides access to a larger pool of stem cell units while also preserving your baby’s own stem cells. Available at a lower initial collection and annual storage cost compared to private banking, it offers broader access and affordability without compromising on the benefits of stem cell preservation.
Average Cost Of Stem Cell Banking In India
Just do a quick Google search and you will find the average cost of stem cell banking in India ranging from anywhere between INR 50,000 to INR 1 Lakh for initial collection and lifetime storage. Plus, there are annual storage fees too, which range from INR 4,000 to INR 20,000. This can make stem cell banking seem really steep. However, it is important to note here that public stem cell banking is virtually free of charge, and that the prices of community stem cell banking are significantly lower than fully private ones.
Most Economically Viable Type Of Stem Cell Banking In India
If you take the cost-to-benefits ratio into account, community stem cell banking might be the most viable option. That is because this type truly combines the benefits of both public and private banking without the wait time of the former or the incredibly high costs of the latter. At just about INR 20,000 per year (approximation values only), parents can secure the future health of their child and their family, protecting loved ones from a long list of potentially life-threatening diseases. Plus, with community banking, you can get up to 75 years of access. That’s basically a lifetime’s worth of protection for roughly the same cost as life insurance.
Conclusion
The ultimate choice between the different types of stem cell banking boils down to your personal medical goals and budget. While public stem cell banking is virtually free of cost, wait times in getting the right donor match might be considerably high. Similarly, the cost of private stem cell banking is immense, but you get instant access to the units you deposited. Community stem cell banking strikes the perfect balance between the three, allowing parents an access to a wide pool of donor units along with the option to withdraw their own deposit in case of emergencies. In any case, investing in cord blood banking is worth it.
