MUMBAI: Cryo-Save India, the largest cord blood stem cell bank in the country, is targeting a 60 per cent growth in revenues and 10 per cent market share in calender year 2011 (CY 11), a top company official has said. 

A 100 per cent subsidiary of Belgium-based Cryo-Save Group, the company collects cord blood stem cells which can be used to treat hematopoietic and genetic disorders. 

"Stem cells have the potential to cure blood and blood -related disorders as well as genetic diseases. Increasing awareness and affordability in metros are driving couples to opt for cord blood banking. Considering this as an opportunity for us, we are eyeing a 60 per cent growth in business in CY 11," Cryo-Save India Managing Director Rajesh Sharma told PTI. 

In CY 10, the company reported sales of Euro 1.5 million (around Rs 9.49 crore) and is targeting over Euro 2.4 million (around Rs 15 crore) in 2011, he said here. 

At present, the total stem cell banking market in India is estimated at over Rs 200 crore, he said. 

"Currently, we have a 5 per cent market share, which is seeing a substantial growth over the years. We are targeting to capture 10 per cent market share this year."