GMP Cell Banking Services Market: Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2019 - 2029
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:
Some of the key market players of the global GMP cell banking services market are
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:
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