Global Cell Banking Outsourcing Market Size, Share, Trends, COVID-19 Impact & Growth Analysis Report – Segmented By Cell Type, Bank Type, Phase & Region (North America, Europe, Asia-Pacific, Latin America, Middle East and Africa) – Industry Forecast (2021 to 2026)
As per our research report, the global cell banking outsourcing market is expected to grow at a CAGR of 15.24% from 2021 to 2026 and worth USD 18,706.96 million by 2026 from USD 9,204.22 million in 2021.
Impact of COVID-19 on the global cell banking outsourcing market:
The increasing prevalence of COVID-19 is expected to bring significant changes to global cell banking outsourcing during the forecast period. In addition, aIn addition, as the coronavirus outbreak continues, many regional markets have suffered a considerable loss, negatively affecting the cellular banking outsourcing market.
Many companies were forced to halt their manufacturing and supply operations due to lockdown and transport restrictions during 2020. However, the current COVID-19 situation will return to normal as medical professionals, and local health authorities are taking the necessary steps to limit the spread of the virus. The European Blood and Marrow Transplant Society has recommended waiting at least 21 days before donation for infected donors. Plasma therapy from a recovered patient was sought to help prevent complications in a suffering patient; this drove the market in 2020-2021. In addition, several studies worldwide are investigating whether mesenchymal stem cells can help treat some of the effects COVID-19 can have on the respiratory system. In Italy, the National Transplantation Centre recommended real-time RT-PCR tests for tissue and stem cell donors.
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KEY MARKET INSIGHTS:
- The increasing rate of adoption of cellular products for research and development, along with the high incidence rate of diseases, is the key factor projected to accelerate the growth rate of the global cell banking outsourcing market. According to a World Blood and Marrow Transplant Network survey, 2006-2014, there were approximately one million hematopoietic stem cell transplants. These included the peripheral blood and their proliferation and storage in cell banks for later use in patients. In addition, the increasing demand for biologics such as vaccines, which involves the use of viral cell banking, has resulted in the positive growth of the global cell banking outsourcing market.
- Stem cell therapy is applicable for the treatment of more than 100 diseases, according to a report by the World Marrow Donor Association, 2016. Immunotherapy involves the genetic modification of patients’ T cells, their proliferation in vitro, storing them in cell banks, and subsequently injecting them into the patient’s body to produce an immune response and destroy cancer cells. Other primary factors driving the market include the increasing research and development in therapeutic areas such as immunotherapy and treatment of diseases such as cancer etc., and the growing number of laboratories focused on cell therapy and vaccine production.
- The increasing adoption of collaboration and acquisition strategies by market players is analyzed to drive the market growth during the forecast period.
- However, the high cost of storing these cells in cell banks is a significant challenge facing this market. In addition, there are some legal challenges associated with the storage of a variety of cells, especially with the storage of stem cells, which is expected to restrain the market’s growth. Finally, the risk associated with cell banking is the contamination of cells from manual errors or environmental conditions, so care should be taken when storing and handling cells.
- Based on cell banks, the master cell bank will be the fastest-growing segment during the period 2021-2027, and this fast growth can be attributed to the high demand for a working cell bank. A master cell bank is produced from the original therapeutic producer cell line, beneficial for various diseases. This segment had over 60% of the sales generated due to the growth of medical facilities. In addition, they are helpful for various research and development perspectives for stem cell therapy and gene therapy, resulting in the growth of the segment.
- Depending on the type of cell, collecting, processing, and creating pools of stem cells for the future is called a stem cell bank. The growing scope of stem cells in medicine and regenerative therapies is estimated to increase the growth of this segment. The ability of stem cells to regenerate and grow into many different types of blood and tissue cells is expanding its applications in research and therapy. non-stem cells use tissue engineering and advanced cellular therapy for medicinal products or as regenerative medicine.
- By region, in 2020, the United States is studied to drive the growth of the cellular banking outsourcing market during the forecast period. The increasing number of ongoing research and development projects in gene therapy, cell therapy, and biologics in the country is driving the market’s growth. In addition, a large population and high demand for personalized therapies will drive market sales. The Asia-Pacific regional market will experience significant growth due to increased awareness regarding stem cells and gene therapy benefits.
- The key market players aim for growth with new campaigns to grow awareness, collaborations, and acquisitions. Some of the major players operating in the cellular banking outsourcing market are Charles River Laboratories, Cryo-Cell International Inc., Cleancells, CordLife Group Ltd, Cryobanks International India, GlobalStem Inc., LifeCell International Pvt. Ltd. Texcell SA, Toxikon Corporation, Transcell Biologics Pvt. Ltd. and Wuxi Apptec.
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By Bank Type:
- Master Cell Banking
- Working Cell Banking
- Viral Cell Banking
By Cell Type:
- Stem Cell Banking
- Cord Stem Cell Banking
- Embryonic Stem Cell Banking
- Adult Stem Cell Banking
- Dental Stem Cell Banking
- IPS Stem Cell Banking
- Non-stem Cell Banking
- Cell Bank Storage
- Bank Characterization and Testing
- Cell Bank Preparation
- North America
- Latin America
- Middle East and Africa
WRITTEN BY: Market Data Forecast
Market Data Forecast