Stem Cell Institute, Inc. announced the completion of a state-of-the-art Cell Processing Center and Cell Cryopreservation Center at its Singapore subsidiary, STEMCELL INNOVATIONS PTE. LTD. Since its establishment in 1999, the company has accumulated expertise in quality control and operation of cell banks for umbilical cord and cord blood storage in Japan. Leveraging this knowledge, the company is building a business foundation in the high-growth Southeast Asian market. Singapore is positioned as the core hub for this expansion. Operations are expected to commence following the acquisition of a license from the Singapore Ministry of Health (MOH). The Southeast Asian umbilical cord blood banking market is projected to grow from approximately $316 million in 2024 to $1.09 billion by 2032, with a CAGR of 16.8%. The company, which holds a 99% market share in Japan, aims to expand its business into neighboring countries like Indonesia and Vietnam. The 450-square-meter facility is located in Mapletree Hi-Tech Park and features ISO-compliant cleanrooms and 24/7 monitoring systems.
FACT BOX
- Source: PR TIMES
- Category: business_expansion
- Organizations: STEMCELL INNOVATIONS PTE. LTD.