New York, United States , Aug. 31, 2023 (GLOBE NEWSWIRE) -- The Global Cell Banking Outsourcing Market size is to grow from USD 10.15 billion in 2022 to USD 45.55 billion by 2032, at a Compound Annual Growth Rate (CAGR) of 16.2% during the forecast period.
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Cell banking outsourcing involves entrusting the establishment and management of cell banks to external service providers. These banks store cell lines used in biopharmaceutical research, development, and production. Outsourcing this process offers advantages such as cost savings, improved efficiency, and access to specialized knowledge. Outsourcing providers offer services like cell line development, characterization, storage, and distribution while ensuring regulatory compliance. By partnering with these providers, pharmaceutical and biotech companies can focus on their core competencies while benefiting from the expertise and infrastructure of the outsourcing partner. This approach facilitates faster timelines, reduced risks, and greater flexibility in cell banking, supporting advancements in biopharmaceutical therapies.
Browse key industry insights spread across 200 pages with 130 Market data tables and figures & charts from the report on the, "Global Cell Banking Outsourcing Market Size, Share, and COVID-19 Impact Analysis, By Type (Master Cell Banking, Working Cell Banking, and Viral Cell Banking), By Cell Type (Stem Cell and Non-stem Cell), By Phase (Bank Storage, Bank Characterization & Testing, and Bank Preparation), By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2032." Get Detailed Report Here:
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The bank characterization & testing segment is expected to grow at a CAGR of around 14.4% during the forecast period
Based on the type of phase, the global cell banking outsourcing market is segmented into bank storage, bank characterization & testing, and bank preparation. The bank characterization and testing segment is expected to witness significant growth in the forecast period. This growth can be attributed to the increasing emphasis on quality control, regulatory compliance, and safety in the biopharmaceutical industry. Outsourcing providers specializing in bank characterization and testing offer expertise in cell line characterization, identity verification, purity assessment, and safety testing, ensuring the integrity and quality of cell banks. As the demand for standardized and well-characterized cell lines continues to rise, companies are turning to outsourcing providers to meet the growing requirements for comprehensive characterization and testing services.
The stem cell segment held the largest market share with more than 50.2% in 2022.
Based on the cell type, the global cell banking outsourcing market is segmented into stem cell and non-stem cell. The stem cell segment has emerged as the leader, holding the largest market share in the cell banking outsourcing industry. This can be attributed to the increasing focus on stem cell research and therapies. Stem cells have tremendous potential in regenerative medicine and the treatment of various diseases. The demand for outsourcing stem cell banking services is driven by the need for reliable and standardized storage, characterization, and distribution of stem cell lines. Outsourcing providers specializing in stem cell banking offer the necessary expertise, facilities, and regulatory compliance to ensure the preservation and quality control of stem cell lines. This has propelled the stem cell segment to dominate the cell banking outsourcing market.
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Asia-Pacific is predicted to grow highest at a CAGR of around 16.8% over the projected period
Based on region, Asia-Pacific is poised to experience the highest growth in the cell banking outsourcing market during the forecast period. Several factors contribute to this trend, the region is witnessing significant growth in the biopharmaceutical industry, with increasing investments in research and development activities. This, coupled with the rising demand for advanced therapies, drives the need for efficient and scalable cell banking solutions. Additionally, Asia-Pacific offers cost advantages, including lower labor and operational costs, making it an attractive outsourcing destination. Furthermore, the region's expanding pool of skilled scientific talent and improving infrastructure further support the growth of the cell banking outsourcing market in Asia-Pacific.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Some of the major players in the global cell banking outsourcing market include Bio Outsource, BSL Bioservice, Cryo-Cell International, Inc., Charles River Laboratories, LifeCell, Goodwin Biotechnology Inc., Lonza, Texcell, Perfectus Biomed Limited, Cordlife Group Limited, Clean Biologics, and Wuxi Apptec.
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Market Segment
This study forecasts revenue at global, regional, and country levels from 2019 to 2032. Spherical Insights has segmented the global cell banking outsourcing market based on the below-mentioned segments:
Cell Banking Outsourcing Market, By Type
- Master Cell Banking
- Working Cell Banking
- Viral Cell Banking
Cell Banking Outsourcing Market, By Cell Type
- Stem Cell
- Non-stem Cell
Cell Banking Outsourcing Market, By Phase
- Bank Storage
- Bank Characterization & Testing
- Bank Preparation
Cell Banking Outsourcing Market, Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of Middle East & Africa
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