Stem Cell Therapies to Save Lives of People. Really?
Cryo-Save, a Dutch stem cell bank misplaced thousands of stem cell samples while transferring them from facilities across Europe to Poland. Following the agreement with Polish laboratory Famicord, the bank transported over 330,000 samples to Poland last year. But, Famicord reported that they received only 98% of samples. After this incident, concerns have been raised regarding commercial and private cord blood banking.
Stem cells from placenta and umbilical cord blood can be collected from new-born and stored in banks. And by using it in future, stem cell therapies are able to treat various health conditions including anemia, leukemia and degenerative as well as neuromuscular disorders. Also, stem cells have ability to renew itself and it helps to replace the damaged areas in human body.
Even if it has been told that the preservation of these cells will be helpful, but unfortunately this advantage come with worrying facts. The U.S. Food and Drug Administration (FDA) has released the warning about stem cell therapies.
In this warning, FDA states that sometimes patients seeking cures and remedies are treated with illegal and potentially harmful treatment. Regarding this, FDA suggests that if anyone considering the stem cell treatment, it must be either FDA-approved or being studied under an Investigational New Drug Application (IND), a clinical investigation plan allowed and submitted to proceed by the FDA.
To discuss safety standards for Physicians who are practicing stem cell medicine, The American Academy of Stem Cell Physicians (AASCP) hosted a safety standards panel in November 2019 at the AASCP Live Congress 2019.
A spokesperson for the AASCP, Dr. A.J. Farshchian, honored with the 2019 Visionary Award for his pioneering work with the AASCP and the stem cell industry said, "There's been too much talk but no action. We need to change that to ensure the safety of the patients who receive care. AASCP will gladly point out the bad actors to the FDA, are we telling on each other? Yes. Are we breaking the Code? No, we are just preserving what's left of this industry."
Later he added, "Many physicians and scientists are starting to believe that some of the regulations regarding stem cells which have been written many years ago have not kept up with the rapidly advancing science. These regulations must be revisited because they are all passé."
Drug testing is another emerging application for stem cells. Before commencing tests on animal and human models, new drugs in development can be tested on stem cells effectively. That’s why the demand for stem cells from pharmaceutical industry is rising. These demands are widening the gap between the demand and the existing banks is also. And based on this situation, industry experts estimates that the global market for Stem Cell Banking is will reach to US$9.9 billion by 2025.
Neha writes articles on sectors including medicine, food, materials, and science & technology. A qualified statistician, she has the ability to observe and analyze the trends in global markets and write compelling articles that help CXOs in decision making. She is a bookworm and loves to read fiction, lifestyle, science and technology. Neha comes with 6 years of experience in content writing and editing that involves blog writing, preparation of study materials and OERs.