Mammalian Cell Banking Market To Grow Based On Employer-Sponsored Healthcare, Reaching US$ US$ 1.1 Bn Mn

The global Mammalian Cell Banking Market is expected to reach US$ 1.1 Bn by the year 203 at a CAGR of 14%. Healthcare systems have been basically emphasizing on affordability as well as quality of the medical services. However, now, digitization has come through, which would drive revolution in the same healthcare vertical. The life sciences would go digitally innovative. This would be the way healthcare vertical would go in the next 10 years.

Cell banks allow the storage and generation of detailed characterizations of cell lines with specific genomes for research use. Mammalian cells are mostly used in the biopharmaceutical industry for the production of recombinant therapeutic proteins. Moreover, mammalian cell lines are used as host cells for the production of biologics in the biopharmaceutical industry.

The mammalian cell banking market is expanding with increasing cancer research. Companies are channelizing efforts to maximize productivity, flexibility, and throughput capabilities. Additionally, with the research community's ever-evolving needs, the demand for specialized cell culture has grown, and due to this, most manufacturers that are currently offering these services cannot depend solely on sales from catalog services.

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According to the latest report published by PMR, the global mammalian cell banking market is projected to account for US$ 1.1 Bn, in terms of value, by 2030 end. The report further projects that the mammalian cell banking market will progress at an average CAGR of 14% through 2030.

Company Profiles:

Sartorius Stedim BioOutsource Limited.
Charles River Laboratories.
Eurofins DiscoverX Corporation
Merck KGaA
Lonza Group Ltd
VIRUSURE
Altogen Labs
Abzena Ltd
Northway Biotechpharma
Selexis SA

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Key Takeaways of Mammalian Cell Banking Market Study

The CHO segment, under cell, is expected to contribute more than 60% of revenue share in the mammalian cell banking market.

Various services launched by key players along with customized service offerings are expected to dominate the demand for working cell banks.
Leading players in the mammalian cell banking market are collaborating with research institutes as well as contract research organization to strengthen their market position.

North America holds more than half of the global mammalian cell banking market share. With increasing use of technology, rapid industrialization, and more research programs, growing economies such East Asia will experience increasing growth in the mammalian cell banking market.

Rising demand for cell lines for producing vaccines to combat the COVID-19 outbreak is boding well for the growth of the mammalian cell banking market.

"The global mammalian cell banking market is expected to witness robust growth during the forecast period. Increase demand for cell banking and its application in cancer research are expected to propel market growth over the next decade," says a PMR analyst.

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Acquisitions & Partnerships - Key Strategies amongst Market Players

Key players in the mammalian cell banking market are improving their product portfolios and strengthening their market positions though the launch of new products and services.

For instance, in August 2019, Sartorius Stedim BioOutsource Limited launched a new services for mammalian cell bank manufactures under GMP conditions.

In January 2019, Charles River Laboratories announced the expansion of cell banking services at its Malvern, PA, site.
Various players in the mammalian cell banking market are focusing on growth strategies such as acquisitions and partnerships.

For example, in June 2019, Selexis SA announced a partnership with Avacta Group Plc for cell line development.

What Does the Report Cover?

Persistence Market Research offers a unique perspective and actionable insights on the mammalian cell banking market in its latest study, presenting historical demand assessment of 2015-2019 and projections for 2020-2020, on the basis of cell (CHO, BHK, NS0, YB2/0 & P2/0, HEK293 & derivatives, and HELA), technology (transient expression platforms, inducible expression platforms, and stable expression platforms), cell bank (master cell banks (MCBs), working cell bank (WCBs), End of Production Cell Banks (EoPCBs), and research & development cell banks (R&D CBs)), and end user (contract research organizations (CROs), research & academic institutions, and biopharmaceutical companies), across seven key regions.

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This release was published on openPR.