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Market Overview
Tissues, cell lines, and cells are tested,
characterized, stored, and collected by the cell banking outsourcing industry.
These activities are carried out to aid in the production of biopharmaceuticals
as well as research and development activities, ensuring minimal side effects
and great efficacy. The technique for cell preservation entails initially
proliferating cells, which subsequently multiply into a large number of
identical cells, which are then stored in cryovials for future use. The
production of regenerative medicine is essentially based on the use of cells.
During the projection period of 2021 to 2027, the cell
banking outsourcing market share is estimated to reach USD 9476.9 million,
growing at a CAGR of 15.6%.
Market Trends
During the forecast period, the cell
banking outsourcing market is expected to rise due to an increase in the number
of cell banks around the world. Another factor projected to drive market growth
is the growing number of applications of cell-based products for research and
therapeutics. Furthermore, a jump in the number of start-ups focusing on
cell-based therapeutics and vaccine production is expected to drive market
expansion. Similarly, the growing emphasis on regenerative and customized
medicine is expected to fuel growth in the cell banking outsourcing industry.
Due to well-established healthcare infrastructure, large patient populations, and
significant healthcare expenditures, several key businesses focus on tailoring
products and services to the American and European markets. There are no public
cord blood banks in Africa, and importing cord blood units from other countries
is prohibitively expensive for most patients. With first-to-market advantage,
launching subsidiaries in developing regions can be advantageous.
Furthermore, as the prevalence of
oncology-related diseases and other infectious chronic diseases rises,
cytological R&D, in which cell banking plays a key role, is predicted to
develop. Over the projected period, R&D for commercialization of novel
characterisation and cryopreservation procedures is expected to significantly
boost profitable business potential.
Concerns over sharing of crucial clinical
information discovered during the donor screening process, as well as issues
around the techniques used to get informed permission from potential cord blood
donors, are limiting the expansion of the cell banking outsourcing business.
Competitive Dynamics
The notable players of the market are
CordLife (Singapore), Cleancells (France), Charles River Laboratories (US), BSL
Bioservice (Germany), BioReliance (US), Sartorius (Germany), Covance (US),
LifeCell International Pvt. Ltd. (India), Goodwin Biotechnology Inc. (US),
GlobalStem Inc. (US), Cryo-Cell International Inc. (US), Lonza (Switzerland),
PX’TherapeuticsSA (France), Wuxi Apptec (China), and the SGS Life Sciences
(Switzerland).
Segmental Analysis
The global cell
banking outsourcing market outlook is divided into three categories: bank,
cell, and application.
The market has been classified into three
categories based on bank type: master cell banking, working cell banking, and
viral cell banking. Because of its widespread utility, master cell banking is
expected to have the largest market share in the worldwide cell banking
outsourcing market.
The cell banking outsourcing market has
been divided into stem cell banking and non-stem cell banking based on cell
type. Because of its growing uses in regenerative medicine, the stem cell
banking sector is expected to have the greatest market share in 2021.
Cell bank storage, cell bank preparation,
and bank characterization and testing are the application segments of the cell
banking outsourcing market.
Regional Overview
North America, Europe, Asia-Pacific, and
the rest of the globe are the regions that make up the market.
Because of the greater adoption rates of
novel technologies for the manufacturing of vaccines and therapeutic
antibodies, North America is expected to have the greatest market share in
2021. Furthermore, the presence of various biopharmaceutical businesses in the
region is expected to drive the cell banking outsourcing market in North
America to new heights in the near future. North America is also likely to be a
lucrative market due to the large number of research and development
initiatives related to cytological inquiry for proteomics, genomics, and
medication and vaccine development currently underway in the region. The
growing demand for vaccines and biopharmaceuticals is expected to boost this
region's growth.
The growing prevalence of leukemia in
European countries is likely to drive the region's cell banking outsourcing
industry forward. Furthermore, the region's cell banking outsourcing market is
benefiting from an increase in the number of clinical trials and associations
dedicated to discovering a cure for incurable diseases.
The cell banking outsourcing market in
Asia-Pacific is predicted to develop at the quickest rate because to the
increased prevalence of hematological illnesses, the growth of healthcare
facilities, and growing support for the use of stem cell-based therapies.
Furthermore, the expansion is likely to be fueled by an increase in the number
of favorable government initiatives relating to biotechnology investments. In
addition, continuous research and development for cancer therapy and fertility
preservation helps to fuel demand for cell banking services.
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