Cell Banking Outsourcing Market to Reach USD 9.87 Billion by 2022by Susan Hill Business Consultant
The global cell banking outsourcing market is expected to reach USD 9.87 billion by 2022, according to a new report by Grand View Research, Inc. Factors attributing towards this anticipated market size include growing demand for gene therapy, stem cell therapy, biopharmaceutical production that target on novel active sites.
Additionally, rise in prevalence of oncology associated diseases and other infectious chronic disorders are expected to promote cytological R&D in which cell banking plays a pivotal role thereby driving growth. R&D for commercialization of novel characterization and cryopreservation methods is also expected to considerably enhance lucrative growth opportunities over the forecast period.
Further key findings from the report suggest:
- Master cell banks accounted for over 60%
of revenue generated in 2014 owing 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 stem cell therapy and gene therapy thereby
resulting to segment growth.
cells accounted for the largest share with respect to revenue in cell
banking market by cell type. Factors attributive towards large share of
this segment include availability of stem cells from different organ
origins and their consequent use in different metabolic disorders.
- North America accounted for the largest
share of this market for 2014, 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 of this region.
- Asia Pacific is expected to witness
significant growth in demand over the forecast period owing to increase in
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 cell
- Key participants in the cell banking
outsourcing market include BioReliance, BioOutsource (Sartorious), BSL
Bioservice, Cleancells, Charles River Laboratories, Covance, GlobalStem
Inc., Lonza, PX’Therapeutics SA, SGS Life Sciences, Texcell, Toxikon
Corporation, Wuxi Apptec, Reliance Life Sciences, LifeCell International
Pvt. Ltd., Cryobanks International India, Cryo-Cell International Inc.,
- Market participants are involved in R&D for characterization of cell banks which include introduction of efficient gene sequencing tests, karyology, and safety tests.
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Created on Apr 2nd 2020 03:18. Viewed 107 times.