Cell Banking Outsourcing Market Outlook:
According to the research study conducted by DataM Intelligence, the Cell Banking Outsourcing Market size is projected to reach USD billion by 2029, with growth at a CAGR of 15.2% during the forecast period 2022-2029.
A cell bank is a place where cells originating from various body fluids and organ tissue are stored for future use. Cells, cell lines, and tissues are collected, stored, characterized, and tested in the cell banking outsourcing sector.
Stem cell technology is a speedily developing technology that plays a major role in regenerative medicine, as it also serves the disciplines of tissue engineering, cellular therapeutics, developmental cell biology, gene therapy, chemical biology, and nanotechnology. Additionally, in September 2021, LifeCell International, a stem cell bank and provider of reproductive genetic testing services, revealed that it had raised Rs 225 crore from OrbiMed Asia Partners IV, one of the leading healthcare investment group. The existing LifeCell founders will also participate in this round by investing Rs 30 crore. Such fund raisings will lead to adoption of cell banking outsourcing services, driving the market growth.
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Impact of COVID-19:
Covid-19 has significantly impacted the cell banking outsourcing market due to the pause of different stem cell transplant practices across the world. For instance, according to the study published in Bone Marrow Transplantation, titled ‘Impact of COVID-19 pandemic on the use and release of cord blood units facilitated by the French Cord Blood Banks Network: on behalf of the Agency of Biomedicine, Eurocord and the French Society of Bone Marrow Transplant and Cell Therapy (SFGM-TC)’ in October 2021, to curb COVID-19 spread, national lockdowns, international border closures, airplane and rail circulation restrictions were implemented both internationally and within France, making stem cell procurement from foreign and national donors more difficult. In addition, transplant teams had to deal with unexpected events involving virus exposure in donors and harvest workers, which were likely to affect stem cell clearance for donation.
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
Induced Pluripotent Stem Cell Banking
Non-stem Cell Banking
North America holds a significant share and is expected to do the same over the forecast period. The major factors driving the market growth in this region include the developed healthcare system, strong foothold of major biopharmaceutical companies, rise in chronic diseases, and rise in research funding in this region, among others.
Major Companies Profiled in the Global Market:
Some of the key players which are contributing to the growth of the market include Charles River Laboratories, Inc, Merck KGaA, Cryo-Cell International Inc., Clean Biologics, Goodwin Biotechnology Inc., LifeCell International Pvt. Ltd, SGS Life Sciences, among others.
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1) Unlimited Analyst support for a period of 1 year.
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The Full Report has the below insights
The report offers a comprehensive evaluation of the market in terms of Market Value (US$) and Y-o-Y Growth Rates (%). It does so via in-depth qualitative insights, historical data (2020-2021), and verifiable projections about market size during the forecast period (2022-2029).
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Excel data sheet with thousands of data points global gall bladder cancer treatment market-level 4/5 segmentation.
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