Stem cell banking used to be a practice for the elite; people with enough resources to store away and keep paying to have blood rich in stem cells stored as a health insurance. Now the cost of having the same security in place for your family is near to nothing compared to the benefits that come with it. The stem cell banking cost may have stopped past generations from storing our core genetic material for future’s sake, but new parents and those to come will not consider the cost as a hindering fact. Now that’s something for every baby to celebrate.
Here are a few reasons why the costs are tumbling down on a yearly basis.
1. A lot of stem cell banks are opening
As mentioned above, the storage of umbilical blood for stem cell and other component extraction used to be an exclusive practice, and a few preservation banks had been established to hold the vials of blood. As more people came to a deeper understanding of the benefits thereof, more stem cell banks started to operate. This drastically shook the market and the price was the first metric to fall.
2. The practice has spread across the globe
If stem cell collection and preservation had started and stopped in one country, they would obviously maintain a monopoly and hold the rest of the world at ransom with a hefty price for them. However, much like any other form of knowledge, it diffused and medical doctors worldwide would jump at the prospect of managing a stem cell preservation project. Common knowledge is never priced at a lucrative rate.
3. There are too many stem cells to maintain a monopoly
Everyone in the world has stem cells in their bodies, and as such, it would seem unreasonable to place a huge cost on perhaps the second most common liquid after water. Every minute, new sources of stem cells are born into an already bulging population. Were it the opposite, and stem cells were only found in certain people, they would be more expensive than gold. Their value is already greater nonetheless.
4. More parents not meeting stem cell banking cost
Private cord blood banks and other establishments succeeded at making the stem cells hype a personal affair until everyone wanted the advantages for their families. As more public hospitals and banks open doors to free storage, stem cell banking cost has been on a declining trend.
5. High costs could bite back
Everyone is inherently good mannered, regardless of the motives that drive us otherwise at times. Even those establishments that took advantage of early adoption with inflated costs for stem cell collection and preservation have lowered their ask. Eventually, we all have to come to terms with the probability that making an industry off stem cell storage and the health improvements it brings could jeopardize the future of the human race.
Put these and a hundred other reasons together, and you will nod to the rhythmic fall of stem cell banking cost. After analyzing all the reasons, it is clear that everyone deserves some free health insurance, especially considering that each and every one of us already contains pieces of the puzzle to a healthier and happier community of the future.