Global Cell Banking Outsourcing Market: Increasing prevalence of leukemia and rising application of stem cells for therapeutic application sisprojected to boost market growth at a CAGR of ~15.90% during the forecast period of 2022 to 2030

Pune, India, January 2022/MRFR Press Release/- Market Research Future has published its half-cooked research report on the global cell banking outsourcing market.

Market Highlights

The cell banking outsourcing market is expected to reach USD 8.99 Billion by 2030 at 15.90% CAGR during the forecast period 2022-2030.

Cell banking outsourcing involves collecting, storing, characterizing, and testing cells, cell lines, and tissues.An increasing number of cell banks and repositories for research and therapy is anticipated to increase the cell banking outsourcing market size globally. Similarly, the outsourcing of cell banking services for cell line characterization, cell testing, drug release testing, viral clearance studies for biological studies, protein stability, and other applications is expected to increase the growth rate of the cell banking outsourcing market globally.

Several market players currently dominate the global cell banking outsourcing market. The key players are involved in expansion,acquisition, and strategic collaborations to maintain their global footprint.Similarly, academic and research institutes are developing the necessary infrastructure for researchers and biopharmaceutical companies to innovate biological products. For instance, in February 2020,Lund University (Sweden) launchedthe world’s largest stem cell biobank with a goal for researchers to be able to develop new treatments that can prevent metabolic, neurological, cardiovascular, and otherdiseases in the future.This biobank includes stem cell lines that researchers can access from all over the world.Apart from such initiatives, the technological advancements in DNA extraction from the Induced Pluripotent Stem Cells (iPSCs) and the use of Clustered Regularly Interspaced Short Palindromic Repeats (CRISPR) for testing of biological products is propelling the growth of cell banking outsourcing market.

Regional Analysis

The market has been divided, by region, into North America, Europe, Asia-Pacific, and the rest of the world.

North America is anticipated to holdthe largest market share in 2021, owing to the higher adoption rates of novel technologies for the production of vaccines and therapeutic antibodies. In addition, the presence of several biopharmaceutical companies in the region is anticipated to foster the growth of the cell banking outsourcing market in North America in the near future.The cell banking outsourcing market in North America is divided into the US and Canada. The availability of a large number of cell banks, repositories, and laboratories in the region,namely, ViaCord, Cord Blood Registry, Cryo-Cell, StemCyte, Miracle Cord, AlphaCord, AmeriCord, GeneCell, and others is facilitating for research as well as therapeutic purposes. According to the Leukemia & Lymphoma Society, an estimated combined total of 178,520 people in the US are expected to be diagnosed with leukemia, lymphoma, or myeloma in 2020.New cases of leukemia, lymphoma, and myeloma are expected to account for 9.9% of the estimated 1,806,590 new cancer cases diagnosed in the US in 2020.The rising number of patients suffering from cancer and awareness about the importance of cell banks is propelling the growth of the cell banking outsourcing market in the region.

The European cell banking outsourcing markethas been categorized intoGermany, France, the UK, Italy, Spain, and the rest of Europe. An increasing prevalence of leukemia in European countries is expected to propel the growth of the cell banking outsourcing market in the region. Furthermore, an increasing number of clinical trials and associations engaged in finding a cure for incurable diseases supports the growth of the cell banking outsourcing marketin the region. For example, European LeukemiaNet integrates about 120 leading leukemia trial groups, their interdisciplinary partner groups, and small &medium-sized enterprises across Europe to form a network promoting cooperative research for curing leukemia.Along with rising initiatives from leading associations, the incidence rate for cancer is large.The Global Cancer Observatory in its December, 2020 report estimated the incidence number for leukemia to be 230,650 in Asia and 100,020 in Europe of the total 474,519 globally in 2020. Moreover, the European Society for Blood and Bone Marrow Transplantation’s Activity Survey, 2018, reported a total of 47,468 Hematopoietic Cell Transplantation (HCT).This survey reported the use of HCT mainly for acute myeloid leukemia followed by acute lymphoblastic leukemia.

The cell banking outsourcing market in Asia-Pacific has been segmented into Japan, China, India, South Korea, Australia, and the rest of Asia-Pacific. An article was published online on 9 April, 2021 in Future Medicine titled “Positive perception of stem cells for neurological conditions: results from an Australian public forum.” Around95% of respondents of this survey believed that stem cells have the potential to treat neurological conditions, and 92% of respondents supported associated clinical trial-based stem cell treatments.Due to the rising prevalence of hematologicaldiseases,expansion of healthcare facilities, and rising support for the use of stem cell-based therapies,the cell banking outsourcing market in Asia-Pacific is expected to be the fastest-growing. The cell banking outsourcing marketin the rest of the worldhas been categorizedinto the Middle East, Africa, and Latin America.

Explore In-depth Details: Cell Banking Outsourcing Market Research Report

Segmentation

The global cell banking outsourcing markethas been segmented based onbank type, cell type,and application.

Based on bank type, the market has been divided into master cell banking, working cell banking, and viral cell banking.Master cell bankingis likely to hold maximum market share in the global cell banking outsourcing market owing to its larger utility globally.

The cell banking outsourcing marketbased oncell type has been bifurcated intostem cell banking and non-stem cell banking.The stem cell banking segment is anticipated to hold the largestshare in 2021 in the marketdue to its increasing applications in regenerative medicine.

The applicationsegments of the cell banking outsourcing market are cell bank storage, cell bank preparation,and bank characterization & testing.

Key Players

Some of the key players in the global cell banking outsourcing marketare 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), SGS Life Sciences (Switzerland), among others.