Cell Banking Outsourcing Market to be dominated by Rising Research and Development Activiites through 2027
Increasing prevalence of
fatal chronic diseases will drive global cell banking outsourcing market in the
forecast period, 2023-2027.
According to TechSci Research report, “Cell Banking Outsourcing Market - Global
Industry Size, Share, Trends, Opportunity, and Forecast, 2017-2027”, the global cell banking outsourcing market is
anticipated to grow at a significant rate in the forecast period, 2023-2027. The
rise in number of patients suffering from chronic disorders, rise in geriatric
population, and growing awareness among parental population are the primary
factors driving the demand for the global cell banking outsourcing market. Extensive
investments in research and development (R&D) activities for better
treatment of diseases, rise in research activities related to stem cell
applications, development of advanced preservation techniques, and rise in adoption
of collaboration and acquisition strategies which is expected to influence the
market growth in upcoming years.
However, the high
operating cost of stem cell therapeutics, availability of right donors,
stringent regulatory standards, risk associated with cell line banking, and
ethical concerns may restrain the global Cell Banking Outsourcing market growth
in the forecast period.
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The global cell banking
outsourcing market is segmented into type, cell type, phase, and company.
Based on type, the market is
divided into master cell banking, working cell banking, and viral cell banking.
The master cell banking sub-segment is expected to hold
the largest market share. This significant increase is attributed to their
preparation for the production and usage of working cell banks, and rising
incidences of autoimmune diseases and cancer.
Based on cell type, the
market is divided into stem cell and non-stem cell. The stem cell segment is expecting to witness a
largest market share. This is attributed to the increase in research and
development activities associated with the applications of stem cells.
Based on phase, the market
is divided into bank storage, bank characterization & testing, and bank
preparation. The bank storage segment is anticipated to rise the most during to
forecasted period due to the presence of technologically advanced cryopreservation
techniques, and sophisticated preservation needs which are essential for proper
maintenance.
Major companies operating
in global cell banking outsourcing market are:
- Cryo-Cell International, Inc
- Charles River Laboratories
International, Inc.
- Goodwin Biotechnology Inc.
- Lonza Group AG
- SGS Life Sciences (SGS SA)
- Global Stem Inc.
- BSL Bioservice Scientific Laboratories
GmbH
- BioReliance Corporation
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“The North America region dominates the market and is expected to maintain its
dominance in the coming years due to presence of advanced healthcare facilities
and growing network of stem cell banking services across the region. The
increasing number of pharmaceutical companies & manufacturers, recent
technological developments in the arena of stem cell collection and
preservation techniques, growing awareness for the use of stem cells as
therapeutics, rising production of antibiotics, vaccines, and therapeutic
proteins, and high healthcare expenditure in the region are expected to propel the
global cell banking outsourcing market till 2027” said Mr. Karan Chechi,
Research Director with TechSci Research, a research based global management
consulting firm.
“Cell Banking Outsourcing
Market - Global Industry Size, Share, Trends, Opportunity, and Forecast,
2017-2027 Segmented By Type (Master Cell Banking, Working Cell Banking, Viral
Cell Banking), By Cell Type (Stem Cell v/s Non-Stem Cell), By Phase (Bank
Storage, Bank Characterization & Testing, Bank Preparation), By Company,
and By Region”, has evaluated the future growth potential of global cell banking outsourcing
and provides statistics
& information on market size, structure, and future market growth. The
report intends to provide cutting-edge market intelligence and help decision
makers take sound investment decisions. Besides, the report also identifies and
analyzes the emerging trends along with essential drivers, challenges, and
opportunities in global cell banking outsourcing market.
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