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How Does the Projected Growth of the Cell Banking Outsourcing Market Compare Over the Forecast Period?

Over the past few years, the cell banking outsourcing market size has expanded rapidly. It’s projected to escalate from a size of $11.19 billion in 2024 to about $12.89 billion in 2025, with a compound annual growth rate (CAGR) of 15.2%. The growth witnessed in the preceding period can be traced back to several factors including an increase in chronic disease prevalence, a surge in government initiative and regulatory support, as well as an expansion in the setting up of banking services.

The market size for cell banking outsourcing is predicted to experience swift expansion in the upcoming years. The market is forecasted to rise to $22.39 billion in 2029, with a compound annual growth rate (CAGR) of 14.8%. The surge during the predicted period can be ascribed to the increased acceptance of cell-related products, growing requirements for monoclonal antibodies, the rise in application of stem cell treatments, an increasing elderly population, and a growing reliance on cell-based therapies. Notable trends during the forecast period encompass product innovation, technological progress, investment in research and development, and partnerships between biotech firms and specific cell banking services.

What External and Internal Drivers Are Contributing to the Growth of the Cell Banking Outsourcing Market’s Growth?

The escalation of chronic diseases is anticipated to drive the expansion of the cell banking outsourcing market in the future. These diseases are enduring conditions that usually onset slowly and continue over a long period. The increasing incidence of these chronic diseases is primarily due to a blend of different elements such as changes in lifestyle, aging population, and genetic predispositions. Cell banking outsourcing plays an indispensable part in pushing forward research and development activities to tackle chronic diseases by offering expertise, resources, and facilities that might not be on hand internally. For example, data from the Department of the Treasury in July 2023 illustrates that an Australian-based national treasury and financial department reported in 2020-21, roughly half of Australians of all age groups (46.6%) were suffering from one or more chronic diseases, and nearly one in five (18.6%) were dealing with two or more chronic health conditions. Consequently, the escalation of chronic diseases fuels the growth of the cell banking outsourcing market.

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Who Are the Key Players Steering the Development of the Cell Banking Outsourcing Market?

Major companies operating in the cell banking outsourcing market are:

• LabCorp Drug Development

• SGS Life Sciences

• Lonza Group Ltd.

• WuXi AppTec

• Charles River Laboratories

How Are Consumer Trends Shaping the Current and Future Landscape of the Cell Banking Outsourcing Market?

Leading firms in the cell banking outsourcing sector are concentrating on creating technologically superior solutions like single-cell potency characterization platforms. The purpose of such platforms is to offer accurate and comprehensive analysis of individual cell potency. These platforms are intricate technologies or methods intended to evaluate and quantify the potency and functional capacities of single cells within a cell group. For example, in January 2024, VivaCyte was launched by Cellply Srl, an Italian biotech firm. VivaCyte, the firm’s top product, is an all-encompassing single-cell potency characterization platform that amalgamates potency analysis with immunophenotyping to expedite cell therapy research and development. VivaCyte is a fully independent platform that offers single-cell resolution, developed to cut down development times, costs, and risks by quickly and thoroughly identifying the intricate functionality and mechanism of potential cellular immunotherapies. This platform facilitates swift testing of numerous cell therapy candidates from a variety of process options in opposition to multiple target tumor cells, providing consistent immune cell classification and single-cell functional characterization in significantly less time than other existing analytical tools.

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Which Key Segments Define the Structure of the Cell Banking Outsourcing Market and Their Growth Potential?

The cell banking outsourcing market covered in this report is segmented –

1) By Type: Master Cell Banking, Working Cell Banking, Viral Cell Banking

2) By Cell Type: Stem Cell Banking, Non-Stem Cell Banking

3) By Phase: Bank Storage, Bank Characterization And Testing, Bank Preparation

Subsegments:

1) By Master Cell Banking: Human Master Cell Bank, Animal Master Cell Bank

2) By Working Cell Banking: Human Working Cell Bank, Animal Working Cell Bank

3) By Viral Cell Banking: Virus Bank For Vaccine Production, Viral Vector Bank For Gene Therapy, Adenovirus Bank

Which Geographical Regions Are Shaping the Cell Banking Outsourcing Market Growth?

North America was the largest region in the cell banking outsourcing market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the cell banking outsourcing market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

How Do Experts Define the Scope of the Cell Banking Outsourcing Market?

Cell banking outsourcing refers to the practice of contracting external organizations to establish, maintain, and manage repositories of cell lines crucial for various applications in biotechnology and pharmaceutical industries, such as drug discovery and biomanufacturing. It ensures that cells are handled, stored, and maintained under standardized conditions, ensuring consistency and reliability.

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