GMP Cell Banking Services Market: Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2019 - 2029

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GMP Cell Banking Services Market: Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2019 - 2029

Status : May, 2021 | Biotechnology

Report Digest

Global GMP Cell Banking Services Market: Overview

A cell bank refers to a facility that helps in the storage of cells of certain genome for future use in medicinal needs or in some product. Cell banks often have large amount of base cell material that can be used in a number of projects. Cell banks are utilized for the generation of detailed characteristics of cell lines and it also assists in the mitigation of cross contamination of the same. Use of cell banks also diminishes the cost of processes of cell culture, thereby offering an economic alternative to continuous keeping of cells in culture. The growth of the global GMP cell banking services market is likely to be driven by the growing popularity of the procedure and emergence of rare diseases across the globe.

Cell banks are usually utilized in wide range of sectors, such as pharmaceuticals and stem cell research. The traditional procedure that is used in keeping the materials of cells intact is called cryopreservation. Cell banks are also capable of diminishing the prevalence of cell sample diversifying from the process of natural cell division over a period of time.

Increased funding for research and development activities in rare diseases is likely to encourage growth of the global GMP cell banking services market over the forecast period. 

The global GMP Cell Banking Services market has been segmented based on end user and region. The main objective of providing such a comprehensive report is to provide a deep insight into the market.

Global GMP Cell Banking Services market: Notable Developments

One such promising development of the global GMP cell banking services market is mentioned below:

  • In March 2020, Lonza Group Ltd entered into collaboration with Parker Institute for Cancer Immunotherapy and Fred Hutchinson Cancer Research Center, Stanford University School of Medicine for research and development in cell therapy.

Some of the key market players of the global GMP cell banking services market are

  • Charles River Laboratories International, Inc.
  • Paragon Bioservices, Inc.
  • Goodwin Biotechnology Inc.
  • Lonza Group Ltd.
  • WuXi AppTec Group
  • Eurofins Scientific

Global GMP Cell Banking Services market: Growth Drivers

Increased for Research on Rare Diseases to Pave Way for Rapid Growth of the Market

There has been an increased funding for research and development projects in rare diseases, which is likely to pave way for the development of the global GMP cell banking services market over the period of analysis. A case in point is funding of research on rare diseases by Food and Drug Administration (FDA), the US. FDA makes use of programs mandated by congress, such as Orphan Products Grants Program, which funds studies of natural history and for conducting clinical trials for rare medical conditions.

In addition to that, establishment of several resource centers for stem cell banking is estimated to positively influence the global GMP cell banking services market. For instance, Kuala Lampur based cord blood bank, Stemlife Berhad started resource center for stem banking in Brunei-based private hospital, Jerudong Park Medical Center. Such strategies by leading market players is likely to propel growth of the global GMP cell banking services market in the years to come.

Global GMP Cell Banking Services market: Regional Outlook

In the global GMP cell banking services market, North America is regarded as one of the most promising regions due to the presence of substantial mammalian cell. This type of cells is estimated to generate most of the revenue in the North America market.

Asia Pacific is another important lucrative region in the market with mammalian cell type accounting for most of the revenue in the region. A rise in the research and development on rare diseases together with increased funding for the same is estimated to drive the market in Asia Pacific.

The global GMP cell banking services market is segmented as:

End User

  • Biopharmaceutical Companies
  • Contract Manufacturing Organizations

This study provides a particularized anatomy according to the L.E.A.P mechanism

  • Latest trends and cardinal growth prospects
  • Existing and future insights in growth
  • Ascensions in technology
  • Pain points

The regional analysis offers market assays across:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The study, prepared through the L.E.A.P mechanism adds a dimension of infallibility and assures precise information on all the growth dynamics.

Latest Trends and Cardinal Growth Prospects

The study assists in burnishing the knowledge of the stakeholder in terms of the emerging trends. The study provides an expansive coverage on the latest developments and novel profit-yielding sources that augur well with the market. A dedicated and determined team of experts conduct an out-and-out research on diverse aspects to offer ultimate breakthroughs in the market.

Existing and Future Insights in Growth

The interfusion of ubiquitous primary and secondary research through modern tools invites perfection and accuracy in every aspect. Primary research is circumspectly conducted through exhaustive interactions and interviews of experts. These valuable opinions are then neatly inducted in the report to allow the stakeholder for reaping the benefits. A treasure of secondary data is extracted via famed paid sources, yearly estimates and statements, renowned journals, and government documents. These sources assist in creating a robust database comprising existing and subsequent growth dynamics.

Ascensions in Technology

Diverse technological advancements and cutting-edge innovations in the market have been covered in this study to assist the stakeholder in research and development activities. Recent upgrades have also been added in the study, thus helping the stakeholder to paint the strokes of growth on the canvas of the market.

Pain Points

The study presents a plethora of challenges and obstacles that can hinder the growth of the market to allow the stakeholder to prepare their strategies accordingly.

The world ushered in the new decade with the shadow of the COVID-19 pandemic. The outbreak has damaged the growth prospects of several businesses and has crippled the entire economy. The study is in tandem with the changing dynamics of the market due to the SARS-CoV-2 outbreak. The study focuses on the coronavirus pandemic and analyses every aspect that impacts the growth positively or negatively.

An aerial perspective of the regions covered in this study enables the stakeholder to design strategies accordingly. The 360-degree assessment of every aspect associated with growth offers information on a rainbow of growth opportunities available across the market.

The exhaustive study motivates the stakeholder to take the 'LEAP' of faith and achieve success!

This report is the key to questions such as:

What are the prominent factors that will help in reshaping the market growth?

Which trends have the potential to bring expansive growth for the market?

What are the necessary strategies to overcome the ill-effects of the COVID-19 pandemic?

Which regions will emerge as champion growth contributors for the market?

Which aspects will serve as game-changers for the market?

What are the latest innovations in the market?

Which factors will hinder the growth of the market?