GMP Cell Banking Services Market Size and Growth | Top Players WuXi AppTec Group, Charles River Laboratories International, Inc., Eurofins Scientific, Merck KGaA

GMP cell banking services is termed as the storing of cells of specific genome for the purpose of future use in a product or medicinal needs. Different types of cell lines stored in cell banks constitute of mammalian cells, microbial cells, insect cell lines, yeast cells, avian cells, and stem cells. Increasing funding for R&D in rare diseases is expected to boost growth of the global GMP cell banking services market over the forecast period. Furthermore, rapidly increasing biotechnology sector in developing countries along with increased government initiatives to promote biotechnology industry is also expected to propel the growth of the market during the forecast period.

Several pharmaceutical and biotechnology companies are increasingly seeking full service in the form of global partners that can be outsourced the entire manufacturing process. This in turn is expected to offer lucrative growth opportunities for players in the market.

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Moreover, focus on fast growing emerging markets is also expected to aid in growth of the market. There has been a shift from investment in R&D and technology, especially in the healthcare industry, from North America and Europe to Asia Pacific. Developing economies such as India have ample skilled labor and qualified manpower at affordable costs, thereby increasing the scope for outsourcing of biotech projects.

Detailed Segmentation:

GMP Cell Banking Services Market, By Cell Type:
Mammalian
Microbial
Insect
Yeast
Avian
Stem Cell Type
Others
GMP Cell Banking Services Market, By End User:
Biopharmaceutical Companies
Contract Manufacturing Organizations

Major players in the market are focused on adopting collaboration strategies to expand their product portfolio. For instance, in March 2020, Lonza collaborated with Stanford University School of Medicine, Fred Hutchinson Cancer Research Center, and Parker Institute for Cancer Immunotherapy for R&D in cell therapy.

Major players in the market are also focused on adopting various marketing strategies to expand their customer base. For instance, in January 2020, Charles River Laboratories International, Inc. presented at the 38th Annual J.P. Morgan Healthcare Conference in San Francisco, California, U.S.

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Major players operating in the global GMP cell banking services market include, WuXi AppTec Group, Charles River Laboratories International, Inc., Eurofins Scientific, Merck KGaA, Lonza Group Ltd., SGS Ltd., ViruSure GmbH, Austrianova, Goodwin Biotechnology Inc., and Paragon Bioservices, Inc.

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This release was published on openPR.