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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