The latest report published by Report Ocean, titled “Cell Banking Outsourcing Market: Global Industry Trends, Share, Size, Growth, Opportunity, and Forecast 2023 to 2031,” offers a comprehensive assessment of the industry, including valuable insights into market trends. The report encompasses competitor and regional analysis, as well as the latest developments in the market. It serves as an excellent resource for investors, researchers, consultants, marketing strategists, and anyone planning to enter the market in any capacity.
Cell Banking Outsourcing Market is valued at approximately USD 9869.5 million in 2021 and is anticipated to grow with a healthy growth rate of more than 16.39% over the forecast period 2022-2029. Cell banking is described as a procedure of replicating and preserving cells obtained from several body fluids and organ tissue for potential use in the future. The chief purpose of the preservation of these cell samples is to use them in research and surgical restoration of broken bodily parts. The most typical applications of cell banking are in stem cell analysis and treatment. Cell banking outsourcing plays a crucial role in the collection, characterization, storage, and testing of cell lines, cells, and tissues. The rising number of clinical trials for cell therapy, coupled with the increasing investments in drug and vaccine development are the primary factors that are surging the market demand across the globe.
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In addition, the rising number of favorable government initiatives for the development of stable cell lines, and the augmentation of novel technologies are further impelling the market growth. For instance, in March 2019, Medical Research Future Fund Grant offer total funding of USD 150 million to the Australian Stem Therapies Mission with the objective of facilitating critical stem cell research. Likewise, in September 2021, California Institute for Regenerative Medicine provided Eli and Edythe Broad Center of Regenerative Medicine and Stem Cell Research at UCLA with total funding of USD 5 million in their research training program. Hence, these aforementioned factors are stipulating the demand for cell banking outsourcing in the global market, which, in turn, reinforces the market expansion. Moreover, growing research and development activities, as well as increasing approvals for cell therapies are presenting various lucrative opportunities over the forecasting years. However, the high storage cost is restricting the market growth throughout the forecast period of 2022-2029.
The key regions considered for the Global Cell Banking Outsourcing Market study include Asia Pacific, North America, Europe, Latin America, and the Rest of the World. North America dominated the market with revenue shares of USD 4071.7 million owing to the growing spending on research and development for drug development activities, rising focus on cancer research activities, organ transplants, and increasing approvals for cell therapies. Whereas, Asia Pacific is also expected to grow with the highest CAGR of 19.20% over the forecast period, owing to factors such as growing investment in drug development or discovery, rising government initiatives towards public health care, and rising prevalence of chronic diseases in the region.
Major market players included in this report are:
Tran-Scell Biologics Pvt Ltd
LifeCell International Pvt. Ltd
Cryo-Cell International, Inc.
BioReliance Corporation
SGA SA
Goodwin Biotechnology Inc.
Charles River Laboratories
Sartorius AG
REPROCELL Inc.
WuXi AppTec co. ltd
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Recent Developments in the Market:
In February 2021, Cryo-Cell International, Inc.- a private cord blood bank announced that the company entered into a collaborative license agreement with Duke University. The primary objective of this agreement is to expand its major business units.
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Global Cell Banking Outsourcing Market Report Scope:
Historical Data: 2019-2020-2021
Base Year for Estimation: 2021
Forecast period: 2022-2029
Report Coverage: Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
Segments Covered: Bank Type, Cell Type, Phase Outlook, Region
Regional Scope: North America; Europe; Asia Pacific; Latin America; Rest of the World
Customization Scope: Free report customization (equivalent up to 8 analyst’s working hours) with purchase. Addition or alteration to country, regional & segment scope*
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.
The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players.
The detailed segments and sub-segment of the market are explained below:
By Bank Type:
Master Cell Banking
Working Cell Banking
Viral Cell Banking
By Cell Type:
Stem Cell Banking
Non-Stem Cell Banking
By Phase Outlook:
Cell Bank Storage
Bank Characterization and Testing
Cell Bank Preparation
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By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
RoLA
Rest of the World
Table of Content:
- Report Overview
- Global Growth Trends
- Competition Landscape by Key Players
- Data Segments
- North America Market Analysis
- Europe Market Analysis
- Asia-Pacific Market Analysis
- Latin America Market Analysis
- Middle East & Africa Market Analysis
- Key Players Profiles Market Analysis
- Analysts Viewpoints/Conclusions
- Appendix
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Following Key Questions Covered in the Report Are:
● Comprehensive Evaluation of market carries customers and associations make out systems?
● Impressive Growth factors that are promising importance and constraints in the market?
● What is the current market revenue? What is the extended revenue for 2023-2027?
● What is the driving, restraining, trends, and obstacles, which will influence the estimating and development of Market?
● SWOT analysis of each critical Market key players specified along with their association details.
● What is market growth energy or accelerating market passes the projected forecast?
● Which countries will value the most astonishing share of the complete Fill Light industry in future?
● What Application/end-client categorization or Product Comprise may see incremental advancement expectation?
● What is the size of industry of dynamic countries like (Asia-Pacific, Latin America, Europe, North America, The Middle East and Africa) and so on?
● What major driving factors and imperatives are holding the market consistently?
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