The UAE has revealed plans to develop the region’s first Stem Cells Bank that will see the country become a stem cells tourism hub, at the first Middle East and North Africa (MENA) Stem Cells Forum that kicked off at the Movenpick Grand, Al Bustan Hotel Dubai.
Dr. Rehab Al Blooshi, Acting Medical Director of Dubai Cord Blood and Research Centre, part of the Dubai Health Authority, stated that “We already have a Stem Cells Bank within Dubai Cord Blood and Research Centre and we are discussing with other health authorities to develop a nation-wide Stem Cells Bank to strengthen this new scientific and medical innovation sector. It is in the process.”
Dubai Cord Blood and Research Centre offers collection and preservation of umbilical cord from new-born babies and preserves them for 30 years with a fee of around $2,450. This represents the first Stem Cells Bank in the UAE. Officials also called for strong regulatory guidelines to regulate stem cells research, therapy and practice as it sometimes falls into the grey area of nature, ethics, culture and religion.
Countries from the MENA region are going to strengthen stem cells research in the coming years in order to reinforce research and benefit from stem cells therapies, experts said at the two-day MENA Stem Cells Forum.
Organized by Great Minds Events Management (GM Events), the two-day event is participated by more than 250 delegates from more than 15 countries where more than 30 officials and experts gathered to discuss the latest scientific developments and innovations in stem cell therapy and associated areas. The exhibition features more than 25 participants.
According to Market Watch, the global stem cells market is expected to grow at an incredible compound annual growth rate (CAGR) of 25.5 percent from 2018 to $467 billion by 2024. This significant event takes place at a time when the world struggled to fight the different variants of COVID-19 viruses that disrupted global growth. Many experts look at stem cells research as a possible solution to tackle such pandemics in the future.
Stem cell therapy has become a significant and innovative scientific development giving hope to both health professionals and patients worldwide. The development of treatment methods has achieved great results globally, especially in the MENA, where stem cell therapy and regenerative medicine are fast-moving and expansive.