global cell banking outsourcing market share is touted to reach USD 4366.9 million by the year 2025, according to the latest research available at Market Study Report LLC, report provides extensively data on market share, growth, trends and forecasts for the period 2018-2025.
As per the report, the cell banking outsourcing market trend is majorly driven by the increasing number of medical trials that have helped in unveiling the latent of stem cells & their relative applications. In the same way, cognizance for stem cell banking across several developing nations, and surging regulatory initiatives that endorse familiarity with stem cell isolation and benefits associated with the same will propel the industry growth during the projected timeline.
The robust growth in the number of research activities concerning stem cell applications is anticipated to boost the cell banking outsourcing market expansion during the forecast period, cites the study. Furthermore, growing life expectancy because of advanced therapeutic research, enhanced lifestyle patterns of the overall population, and forthright regulations for the stem cell research community are predicted to help cell banking outsourcing market accrue substantial gains in the years to come.
As per the regional hierarchy, the industry has been bifurcated into five prominent regions including Europe, North America, Latin America, Asia Pacific, and Middle East & Africa. Over the projected timeframe, the Asia Pacific cell banking outsourcing market is slated to become the fastest growing regional ground of the global market, owing to the burgeoning life science sector along with a supportive regulatory outlook pertaining to financial infusion in the biotechnology domain, mainly across the emerging economies such as India, Japan, and China, cites the report.
The market has also been fragmented based on type, phase, cell type, and product type in the report. in terms of type, the market is classified into working cell banking, master cell banking, and viral cell banking. On the grounds of product type, the market is categorized into embryonic stem cell banking, adult stem cell banking, cord cell banking, and IPS stem cell banking.
The cell type segment is further sorted as stem cell & non-stem cell types. Based on phase, the market is segregated into bank characterization & testing, bank preparation, and bank storage. The bank storage is further partitioned into cell storage stability testing, working cell bank storage, and master cell bank storage.
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The report further suggests that improved awareness about the deployment of automation in pharmaceutical domain paired with high growth in the Asia Pacific zone, on account of the expanding economies such as India and China, would add stimulus to the growth prospects of the global cell banking outsourcing market over the forecast period.
Some of the key takeaways of the ‘Cell Banking Outsourcing Market’ report have been enumerated below:
- In accordance with the type, master cell banking segment accumulated the largest share in terms of revenue, in 2017.
- On the basis of the regional spectrum, North America, in 2017, apparently dominated the global cell banking outsourcing market in terms of revenue.
The distinguished players operating in the industry include Cleancells, BioReliance, GlobalStem Inc., Covance, BSL Bioservice, Charles River Laboratories Lonza, Cryobanks International India, Toxikon Corporation, LifeCell International Pvt. Ltd., Wuxi Apptec, Reliance Life Sciences, BioOutsource (Sartorious), CordLife, Texcell, SGS Life Sciences, and Cryo-Cell International Inc.
The report provides a detailed analysis of the cell banking outsourcing market drivers, challenges, and opportunities over the forecast duration. A thorough analysis of products, value chain, regional spectrum, market dynamics, market forces, and player profiling has also been meticulously encompassed in the report.