Axiom MRC has updated all it's market research reports with the Economic Impact Analysis of COVID19 Pandemic on the market. Our team of analyst are following Comprehensive Three Dimensional (3D) Research Methodology along with large number primary interviews with key industry participants to bring insightful market reports to meet the current market requirements.
A cell bank refers to a type of facility that stores cells from multiple body fluids and body tissues for future needs. The bank stores cells with detailed characterization of the cell line, thus reducing the risk of cross-contamination. The cell banking outsourcing industry includes the storage, collection, characterization, and testing of cells, cell lines, and tissues. Cell banks provide cell lines, cells, and tissues for research and development, production of biopharmaceuticals with maximum efficiency and minimum adverse effects.
The growing demand for stem cell therapies is the key factor driving the market’s growth escalation. In addition, the growing number of cell banks, the rise in vaccine production, rising demand for monoclonal antibodies and the rising prevalence of cancer are the major factors driving the cell bank outsourcing market, among others. Rising R&D investments in the biotechnology sector and modernization are expected to continue to create new opportunities for the cell banking outsourcing market during the forecast period.
The growing progress of cryopreservation and cell bank preparation methodologies, the growing adoption of stem cell therapies, and the growing demand for monoclonal antibodies along with effective biopharmaceuticals are the key factors driving the growth of the market. The growing number of stem cell therapies around the world has a particular impact on the global cell banking outsourcing market. According to a survey conducted by the World Network for Blood and Marrow Transplantation (WBMN), nearly 1 million hematopoietic stem cell transplantation processes were performed between 2006 and 2014. This figure included removing stem cells from peripheral blood or bone marrow, proliferating them, and ultimately saving them in cell banks for future use by patients. Stem cell therapies are capable of treating multiple diseases such as amyotrophic lateral sclerosis, type 1 diabetes, cancer, Alzheimer's disease, Parkinson's disease and so on. The ability to cure such a variety of diseases is expected to propel the growth of the global cell banking outsourcing market in the coming years. The presence of favourable government initiatives for the stable development of cell lines along with the introduction of new technologies for the storage and characterization of cell lines are some of the critical factors that are expected to boost the market’s growth during the forecast period.
Key market players are also involved in research collaborations to reprogram neonatal cord blood stem cells and umbilical cord tissue into induced pluripotent stem cells. These partnerships are also expected to boost market growth over the forecast period. The market is also expected to have new opportunities with the technological advancements and ongoing R&D activities involved in stem cell research. It is expected to provide ample new growth opportunities for the market during the forecast period. Besides, emerging features and innovation in healthcare have gained the major attention of the end user, segment, and this factor is expected to provide rising new growth opportunities for the market over the forecast period.
Umbilical cord blood does not contain many stem cells, which means that adults in need of a transplant need cord blood stem cells from multiple donors. People have to pay a fee for storing cord blood in a private bank, which can be expensive. Private banking of umbilical cord blood may not be more effective than a stem cell transplant from a stranger. These factors are expected to restrain the growth of the market over the forecast period.
The availability of suitable donors, the high cost of therapy, as well as changing legal and ethical issues during collection are the major factors acting as restraints, among others, and are expected to further challenge the growth of the market during the forecast period. Also, a lack of awareness regarding stem cells along with a lack of a skilled healthcare workforce in underdeveloped economies is expected to be a major hamper to the market’s growth over the forecast period.
The report provides an in-depth analysis of the global Cell Banking Outsourcing market, including market size, and compound annual growth rate (CAGR) for the forecast period of 2022-2028, considering 2021 as the base year. The increasing demand for Cell Banking Outsourcing in various healthcare applications has led to the increasing demand for the market and is expected to witness growth at a specific CAGR from 2021-2028.
The global Cell Banking Outsourcing market comprises of different market segments like type, cell type, application and geography.
By type, the Cell Banking Outsourcing market includes the key segments of
The master cell banking segment is expected to lead the growth of the market, as its preparation is a prerequisite for the production and use of functioning cell banks. They are maintained for a significantly longer period, which also attracts the adoption of high-quality cryopreservation methods and equipment, further expanding the revenue base for this segment. Furthermore, master cell banks find applicability in different research and development perspectives for stem cell therapy and gene therapy. The increased incidence of autoimmune diseases and cancer that can be cured through the use of therapies in combination with regenerative medicine is a key factor that is anticipated to drive the growth of this segment over the forecast period.
On the other hand, viral cell banking is expected to grow to a significant extent over the estimated time period. Establishing a viral cell bank allows for reproducible testing and recombinant virus production to develop vaccines and recombinant proteins. Viral banking services are completely separated from non-viral activities to avoid cross-contamination of products.
By cell type, the Cell Banking Outsourcing market is segmented into
The stem cell segment is further segmented into cord cell banking, embryonic stem cell banking, adult stem cell banking, dental stem cell banking and IPS stem cell banking. The stem cell segment is expected to dominate the market over the forecast period. Stem cells are made from umbilical cord blood, embryonic, adult, dental, and IPS cells, while non-stem cells contain stored somatic cells for applications such as tissue engineering and IPS Cells Cell Development. An increase in research and development related to stem cell applications is expected to drive the growth of the segment.
The Cell Banking Outsourcing market has major applications like
The cell bank storage segment is further segmented into master cell bank storage, working cell bank storage and cell storage stability testing. The cell bank preparation segment is further segmented into master cell bank preparation and working cell bank preparation. The bank characterization and testing segment is further segmented into viral cell bank safety testing, microbial cell bank safety testing, gene expression testing, karyology testing and gene sequencing testing.
The cell bank storage segment is expected to account for most of the revenue due to advanced custodial needs that are essential for proper maintenance of major or functioning banks. Furthermore, technologically advanced cryopreservation techniques are expected to drive the growth of this market over the forecast period. Archiving the bank in cell banking includes keeping both the primary and functioning bank and their respective security tests.
Bank characterization and testing is expected to show profitable growth over the forecast period due to the presence of market players involved in providing bank characterization and testing outsourcing services to various hospitals and clinical research organizations.
The global Cell Banking Outsourcing market is studied for the following regions
The North America region is expected to dominate the market over the forecast period. The growth of the market can be attributed to the presence of several R&D laboratories and the increasing incidence of metabolic disorders such as Parkinson's, Alzheimer's, and many other cancers, which can be treated with gene therapy. The surge in the creation of banking services, which is a sign of rapid change, also contributes to organizational diversity in the North American healthcare system.
The Asia-Pacific is expected to grow exponentially over the forecast period. The growth can be attributed to the presence of pharmaceutical companies, which focus their priorities on large and relatively untapped Asian populations. Initiatives by private and governmental organizations to discuss and support stem cell research are also expected to support the growth of the market.
The exclusive COVID-19 impact analysis report by Axiom MRC provides a 360-degree analysis of micro and macro-economic factors on the global Cell Banking Outsourcing market. In addition, a complete analysis of changes in the global Cell Banking Outsourcing market expenditure, economic and international policies on the supply and demand side. The report also studies the impact of the pandemic on global economies, international trade, business investments, GDP, and marketing strategies of key players present in the market. The increasing prevalence of COVID-19 is expected to impact the market’s growth over the forecast period. As the coronavirus outbreak continues, the majority of pharmaceutical companies have suffered a significant loss, hampering the cellular banking outsourcing market. Many companies halted production and delivery operations in the initial phase of the pandemic. However, the COVID-19 situation is expected to return to normal as medical professionals and country health authorities take necessary measures to combat the virus.
Global enrollments for new advanced cell therapy trials increased nearly 30% in the first quarter of 2020, according to CellTrials.org. Most of the increase may be associated with cell therapy efforts to treat COVID-19, and more than half of these COVID-19 studies use umbilical cord mesenchymal stem cells. Therefore, the pandemic has created a new market for those companies engaged in the production of mesenchymal stem cells products from donated birth tissues, and thus is expected to contribute to the growth of the market after the pandemic phase.
The competitive landscape analysis of Cell Banking Outsourcing market is majorly focused on expanding the global growth of cell banking outsourcing with new product innovation, business expansion, and the increasing presence of a range of manufacturers operating in the cell banking outsourcing sector has led to the growing demand for the market. Besides, the market offers a range of products in different applications to fulfil the required demand of consumer which is further contributing to healthy growth in the market.
The key players studied in market are
May 2021: Opsis Therapeutics, FUJIFILM Cellular Dynamics, and Blue Rock Therapeutics entered into strategic research and development to create cell therapies to cure eye diseases.
February 2021: American CryoStem collaborated with BioTherapeutic Labs Corp for the research and development of stem cells.
By type, the Cell Banking Outsourcing market includes the key segments of master cell banking, working cell banking and viral cell banking. The master cell banking segment is expected to dominate the market over the forecast period. By cell type, the Cell Banking Outsourcing market is segmented into stem cell and non-stem cell. The stem cell segment is further segmented into cord cell banking, embryonic stem cell banking, adult stem cell banking, dental stem cell banking and IPS stem cell banking. The stem cell segment is expected to dominate the market over the forecast period. The Cell Banking Outsourcing market has major applications like cell bank storage, cell bank preparation, and bank characterization and testing. The cell bank storage segment is further segmented into master cell bank storage, working cell bank storage and cell storage stability testing. The cell bank preparation segment is further segmented into master cell bank preparation and working cell bank preparation. The bank characterization and testing segment is further segmented into viral cell bank safety testing, microbial cell bank safety testing, gene expression testing, karyology testing and gene sequencing testing. The cell bank storage segment is expected to account for most of the revenue due to advanced custodial needs that are essential for proper maintenance of major or functioning banks. The global Cell Banking Outsourcing market is studied for the following regions: North America, Europe, Asia-Pacific and the Rest of the World (RoW). North America region is expected to dominate the market over the forecast period.
| Market Sizing for Year: | 2019-2028 |
| Base Year: | 2021 |
| Forecast Period: | 2022-2028 |
| Value: | USD million |
| Market Segment studied: | Type Cell
Type Application |
| Market Players and its
Competitors: | Charles
River Laboratories, Inc. Reliance
Life Sciences LifeCell
International Pvt. Ltd. Cryo-Cell
International Inc. Cordlife
Sciences India Pvt. Ltd Tran-Scell
Biologics, Pvt. Ltd. BSL
Bioservice CordLife Sartorius
Covance
Global
Stem Inc. SGS
Life Sciences Goodwin
Biotechnology Inc. Lonza PX’TherapeuticsSA |
FREQUENTLY ASKED QUESTIONS
What would be forecast period in the market report?
2022-2088 is the forecast period in the market report
Which is the leading application segment for Cell Banking Outsourcing market?
Cell bank storage segment has accounted the major market share, and is expected to witness the growth at highest pace during the forecast period.
Which region is gaining majority of market share during the forecast period (2022-2028)?
North America is expected to gain major market share during the forecast period (2022-2028).
