New York, US, July 14, 2021 (GLOBE NEWSWIRE) -- Cell Banking Outsourcing Market Overview
According to a comprehensive research report by Market Research Future (MRFR), “Cell Banking Outsourcing Market Information by Cell Type, Bank Type, Application, and Region - Forecast till 2027”, the market is predicted to reach USD 9476.9 Million by 2027 at 15.6% CAGR.
Market Scope:
A swelling number of cell banks being established globally is expected to propel the progress of the global cell banking outsourcing market size throughout the forecast period. Furthermore, a swell in the number of start-ups concentrated on cell-based therapies and vaccine creation is likely to fuel the cell banking outsourcing market growth.
Market Drivers:
The mounting demand for cell and gene-based therapies internationally for numerous indications is inspiring key companies to maneuver and increase their geographic spread. The current mergers and purchases by important players are influencing the global cell banking outsourcing market. Increasing uses and clinical trials related to stem cells are predicted to motivate the cell banking outsourcing market.
Market Restraints:
Issues encompassing the techniques used to attain informed agreement from potential cord blood givers and concerns about the revelation of donors with deference to significant clinical information exposed throughout the donor screening procedure are acting as a limitation to cell banking outsourcing market evolution.
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Competitive Landscape:
The Illustrious Companies in the Cell Banking Outsourcing Market are:
- Goodwin Biotechnology Inc.(US)
- GlobalStem Inc.(US)
- Cryo-Cell International Inc. (US)
- BioReliance (US)
- Covance (US)
- Charles River Laboratories (US)
- BSL Bioservice (Germany)
- PX' Therapeutics SA (France)
- SGS Life Sciences (Switzerland)
- Sartorius (Germany)
- Lonza (Switzerland)
- LifeCell International Pvt. Ltd. (India)
- CordLife (Singapore)
- Cleancells (France)
- Wuxi Apptec (China)
COVID 19 Analysis
Several companies had halted their assembling and supply operations in the early phase of the pandemic. Though, the present situation of COVID-19 is anticipated to touch regularity as the medical specialists and health authorities in the nations are taking the essential steps to fight to counter the virus. Though, the numbers of volunteer adult stem cell donors reduced intensely for several months after March 2020, as compared to previously, and then picked up since July 2020. A collective reliance on cell-based treatments for likely COVID-19 treatment is likely to raise the call for cell banking services such as processing and storage. Recently, Genezen Laboratories, Inc, a US-based cell and gene therapy CDMO, is prepared to create a 75,000+ square foot cGMP-compliant lentiviral vector manufacture facility in Indianapolis. The CDMO is determined on early-phase process expansion, analytical testing services, and vector production. The CDMO will keep on providing cell manufacturing and patient sample investigating through those academic coalitions.
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Market Segmentation
The Cell Banking Outsourcing Market is segmented based on Bank Type, Cell Type, and Application.
In the application segment, the cell banks storage segment is anticipated to develop at the highest pace in the upcoming period.
In the bank type master cell bank segment, the (MCB) segment is anticipated to be the fastest developing segment during the forecast period.
In the cell type segment, the stem cells segment is likely to gain the topmost position in the forecast period.
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Regional Analysis
The North American region's cell bank outsourcing market held the principal share owing to the favorable government guidelines, attendance of major companies, and elevated healthcare expenditure in the region. The accessibility to an increasing number of stem cell banks, both civic and private, is estimated to back the cell bank outsourcing market development globally. Recently, CellPort Software announced the inauguration of the CellPort Cell Culture Suite, a novel cloud-based Software as a Service (SaaS) product concentrating on cell culture and cell banking. CellPort Cell Culture Suite is a safe, compliant SaaS-based application suite focused on handling all lab activities, equipment, workflows, materials, personnel, locations, data/calculations, and cell banking and cell culture projects. CellPort decreases mistakes, enhances productivity, increases reproducibility, and delivers full audit-ready traceability for controlled and unregulated settings.
The European cell banking outsourcing market's regional market is motivated by growing government proposals and the significant accessibility to research grants. The predisposition to chronic diseases, budding geriatric resident level, and significant support for cord blood storage and stem cells are anticipated to develop the scope of the cell banking outsourcing market in the regional market. The cell banking outsourcing market is expected to develop in the Asia Pacific region at the topmost CAGR in the forecast period. The Asia Pacific region's market development is accredited to the swelling number of patients undergoing chronic diseases such as oncological diseases, intensifying population, and the collective number of contractual research and development establishments in the region.
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