SUMMER INTERNSHIP PROJECTOn

MARKET ANALYSIS ON THE AWARENESS LEVEL OF STEM CELL BANKING

Company’s Guide NameMr. Sachin SaxenaRegional Sales ManagerPune

ByTanya BhallaIB1412118(2014-2016)

COMPANY PROFILE Cryobanks International India a JV between Life-force

Cryobanks International USA and RJ Corp founded in 2006.

The company is focused on providing high-quality umbilical cord blood stem cell processing, and storage for both private and public donation purposes through ‘closed bag’ method.

Situated in Gurgaon, Haryana It is operational in Thailand, UAE , Nepal ,Bangladesh

and East Africa making it only Indian Cord Blood Bank available in International Market.

COMPETITORS….

Benefits-:Cord Blood Stem Cells Banking

The use of stem cells to treat critical diseases is one of the most promising scientific areas of research undertaken over the past decade.

One of the most prominent areas in this field involves the collection and preservation of umbilical cord blood after birth. Umbilical Cord Blood contains a rich source of high quality stem cells

The risk of complication after cord blood transplantation is smaller than those from bone marrow and/or other tissues as it’s believed these cells that carry with them the “marks of time” and therefore their efficiency and compatibility level are lower than stem cells obtained at birth.

STEPS IN CORD BLOOD BANKING

1. After birth the umbilical cord is clamped and cut2. Cord blood is collected from umbilical cord vein by experts3. Collected cord blood is safely packed in proprietary transfer kits and

within 24 hours reach our labs4. The sample quality is evaluated and all the required tests are

conducted for maximum safety5. Cord blood is processed by patented technologies to yield maximum

number of stem cells6. The end product is stored at -196 deg.C for 21 years.

OBJECTIVES

To analyze the awareness of stem cell banking among Patients in Pimpri-Chinchwad area.

To analyze the market strengths and brand awareness of Cryobanks and its competitors and the reasons for the same.

To understand the attitude and beliefs of patients towards Cord-blood banking services

To analyze market potential through Doctors and their outlook towards Cord-blood banking services.

RESEARCH METHODOLOGY

Research Instruments – First questionnaire was prepared to understand the patient’s

response towards Cord-Blood Banking Services. Another questionnaire was prepared to analyze the doctor’s

response towards Cord-Blood banking services.

Sampling Plan and Design – Sampling Method: Simple Random Sampling Sample Design: The total sample consisted of Doctors (mainly

Obstetricians/Gynecologist) and Patients (mainly female). Sample Size: A total of 95 samples, divided into 29 samples of

Doctors and 66 samples of Patients.

Data Collection Method – Primary Data - In this project, primary data has been collected by the

means of questionnaire. Secondary Data – The secondary data involved in this project has

been gathered from the company journal, literatures and internet.

DATA INTERPRETATIONFor Patients

Awareness of Stem Cell Banking among all Patients sample

• 36.4% are aware of stem cell banking

• 63.6% are unaware of stem cell banking

63.6%36.4%

Aware Patients’ response towards opting for Cord Blood Banking at the time of birth of Child

• 63.6% of respondents were already aware of stem cell banking and were not a part of the sample for this question.

• 15.2% were aware of the stem cell banking services and benefits associated but were not interested in such services

• 21.2% were aware and are interested in opting for stem cell banking.

63.6%

21.2%

15.2%

Unaware patient’s response after getting a brief on stem cell banking( who were unaware initially)

40.9%

4.5%

18.2%36.4%

• 36.4% of respondents were already aware of stem cell banking • 40.9% didn’t responded with clear answer• 4.5% clearly stated that they are not interested in such services• 18.2% stated that they will opt for such services in future

Income Level of Patients’

• 34.8% have an income level of below 3 Lakhs

• 53% have an income level between 3L-5L

• 12.1% have an income level between 5L-8L

• For those who have an income level higher than 8 lakhs are counted in 5L-8L bracket.

34.8%

53%

12.2%

Patients’ Education Level

• 15.2% are educated till higher secondary

• 7.6% are educated till Secondary level

• 56.1% are graduates in various domains

• 21.2% are Post-Graduates in various domains.

15.2%

7.6%

21.2%

56.1%

Patients’ Age Distribution

• 27.3% respondents were in the bracket of 18-25 years

• 53% are in the bracket of 25-30 years

• 15.2% are in the bracket of 30-35 years

• 4.5% are in the bracket of 35-40 years

27.3%

53%

15.25%

4.5%

Current Price Satisfaction –

• 72.7% are comfortable with the current cost of such services.

• 27.3% are not comfortable with the current costs of such services

72.2%

27.3%

For Doctors

Awareness of Stem Cell Preservation services as per Doctors’ Common Knowledge

• As can be seen from the graph, very few people are aware of the stem cell banking services in the common knowledge of doctors.

48.3%

17.2%

34.5%

Doctors’ Voluntary Recommendation of these services

• 72.4% doctors do not recommend or suggest about stem cell banking to their patients.

• 27.6% doctors recommend or suggest about stem cell banking to their patients.

72.4%

27.6%

Patients’ Response towards Doctors Recommendations

• As per doctors, 65.5% patients respond positively in opting for such services.

• 34.5% respond negatively65.5%

34.5%

LIMITATIONS OF THE STUDY

Some patients didn’t provide clear answers to questions asked and didn’t entertained the study in a serious manner.

Doctors didn’t always gave enough time and attention towards the questionnaire.

Most doctors denied to meet, when were approached. Many patients were unclear and reluctant to disclose their incomes. Many unaware patients didn’t hear the whole briefing or were not

interested in it. A few respondents carried a very negative attitude towards this

market study. Language barrier was also faced while communicating with patients.

KEY FINDINGS

Most patients were unaware of Cord Blood Banking Unaware patients responded positively after getting a

brief Very little concern towards the cost of these services Doctors forward knowledge only when asked for On doctors recommendation, response has been

outright positive Very few respondents were not in favor of opting these

service at all even after being briefed about them, without disclosing any reasons.

RECOMMENDATIONS

Elaborate Marketing Programmes to be conducted to create awareness

Transparency in Pricing Structures. High-Patience approach towards lower education level

people by sales people Tie-Ups with hospitals and doctors.

Learnings

Learned about stem cell preservation and benefits related to it

A high potential growth in future Approaching doctors and prospect customers

Bibliography…

http://chem445stemcell.webs.com/overview.html http://worldstemcellsummit.com/files/2009_report/4-

9_2009.pdf https://www.corcell.com/benefits-of-umbilical-cord-

blood/diseases-treated/ http://www.cryobanksindia.com/banking-benefits/why-

store-umbilical-cord/ http://www.cryobanksindia.com

THANK YOU