Cell Banking Outsourcing Market Growth & Trends
The global cell banking outsourcing market size is expected to reach USD 35,593.6 million by 2030, registering a CAGR of 16.39% during the forecast period, according to a new report by Grand View Research, Inc.Introduction of novel technologies for the collection, testing, and storage of cell lines are expected to boost the cell banking market during the forecast period. Automation in cord blood processing and storage are the key technologies that are expected to affect the growth of the market.
CellTrials.org found that global enrolments of new trials in advanced cell therapy were up almost 30% in the first quarter of 2020. Most of the rise can be associated with cell therapy efforts for treating COVID-19, and over half of those trials for COVID-19 employ umbilical cord MSCs. Hence, the pandemic has created a new market for those companies which are engaged in the manufacturing of MSCs products.
According to a report published by Pharma Intelligence UK Limited, 21 oncological drugs are expected to be launched in 2022. Moreover, these drugs will be used for the treatment of different metabolic disorders which would result in the increased entry of novel biosimilar drugs into the market during the forecast period. For instance, in 2022, Center for Drug Evaluation and Research (CDER), approved 15 new drugs and biological products. Cell lines are highly valuable assets for the production and testing of these biopharmaceuticals. Hence, the increasing number of R&D activities for biosimilar and biologic products is expected to increase demand for the good-quality cell lines, thereby, fueling the demand for banking services.
Monoclonal antibody industry is growing at a rapid pace, owing to the advantages associated with it such as treatment for a wide array of diseases including autoimmune diseases, cancer, and inflammatory diseases. The demand for monoclonal antibodies for the treatment of these diseases is expected to increase during the forecast period, due to the benefits offered by them, which exhibit high efficiency, high specificity, and comparatively lesser side effects.
The increasing number of monoclonal antibody-based viable therapies, as well as the introduction of various new modalities related to their clinical development, are expected to drive the growth of the monoclonal antibodies. A clone with the best properties is chosen and stored in a bank, allowing for the production of monoclonal antibodies to be repeated for a decade. Therefore, the increasing growth of monoclonal antibodies is expected to propel the demand for banking throughout the forecast period.
Human embryonic research poses a moral duty such as respecting the value of human life and preventing suffering. The harvesting of embryonic stem cells violates the duty of respect value for human life as it is a consequence of the destruction of human embryos. In addition, granting of intellectual property rights (IPR) to the product or material used in research and commercialization of such services are the major restraints in cell development. Ethical approval should be obtained before the storage of cell lines and tissues in biorepositories as the technology allows patients identification just from DNA; which may lead to the misuse of tissue for an illegal purpose or for proxy identification of diseases to claim insurance.
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Cell Banking Outsourcing Market Report
Cell Banking Outsourcing Market Report Highlights
- Master cell banking accounted for the largest market share in 2021owing to rise in these facilities across the globe. Moreover, master cell banks are useful for the preparation of working cell banks and thus find applicability in various research and development perspectives for gene therapy thereby resulting to segment growth
- Stem cells accounted for the largest share with respect to revenue. Increase in research and development activities associated with the applications of stem cells drives the segment growth
- Cord cell banking sub-segment is poised to grow at the fastest CAGR, during the forecast period owing to the rise in the number of cord blood banking services across the globe
- By phase, the bank storage segment held a larger share of the global market. Technologically advanced cryopreservation techniques are expected to fuel the growth of this market throughout the forecast period
- Bank characterization & testing is expected to witness exponential growth opportunities. Bank characterization is an important quality-control procedure for cell-derived products
- North America held the largest share of the market, as there are a significantly high number of research and development projects ongoing in the region related to cytological investigation for proteomics, genomics, and drug and vaccine development. Growing need for vaccines and biopharmaceuticals is also anticipated to fuel the growth
- Asia Pacific is expected to witness significant growth in demand during the forecast period owing to an increase in the number of supportive government initiatives pertaining to investments in biotechnology sector. Additionally, ongoing R&D activities for cancer treatment and fertility preservation facilitate the demand for banking services
List of Key Players of Cell Banking Outsourcing Market
- Bio Reliance
- Bio Outsource (Sartorious)
- BSL Bioservice
- Cryo-Cell International, Inc
- Charles River Laboratories
- Covance
- Global Stem Inc.
- Goodwin Biotechnology Inc.
- Lonza
- SGS Life Sciences
