GMP Cell Banking Services Market continues to expand with robust R&D activities

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.

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Limited in-house storage and testing capabilities are expected to propel growth of the global GMP cell banking services market over the forecast period. Large biopharmaceutical companies have several manufacturing sites that typically produce commercially marketed therapeutics as well as material for clinical development. As a result, the in-house capacity for storage of GMP cell banks are limited.

Government initiatives to support the growth of the domestic biotechnology industry is expected to offer lucrative growth opportunities for players in the market. For instance, in March 2020, the state government of Telangana, India, announced its plans to increase the market value of biotech and life sciences industry from US$ 50 billion to US$ 100 billion.

Inconsistent demand for services is expected to hamper growth of the global GMP cell banking services market. Considering that outsourcing happens on a molecule-by-molecule basis, cell banking service providers experience fluctuating demand as large biopharmaceutical clients alternate between storage of cell banks in-house and outsourcing to service providers. The decision to outsource also depends on the performance of candidates in clinical trials, which can be quite unpredictable. Hence, service providers have to ensure a consistent source of revenue in these situations.

Major Market Competitors: 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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