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Cell Banking Outsourcing Market Growth Analysis, Trends, Share, Market Size And Forecast To 2033
Cell Banking Outsourcing Market
As per the report, the cell banking outsourcing market size has grown rapidly in recent years. It will grow from $9.76 billion in 2023 to $11.19 billion in 2024 at a compound annual growth rate (CAGR) of 14.7%. The cell banking outsourcing market size is expected to see rapid growth in the next few years. It will grow to $19.51 billion in 2028 at a compound annual growth rate (CAGR) of 14.9%.
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Driving Growth Of Cell Banking Outsourcing Market Amid Rising Burden Of Chronic Diseases
The rise in the burden of chronic diseases is expected to propel the growth of the cell banking outsourcing market going forward. Chronic diseases are long-lasting conditions that typically develop gradually and persist over an extended period. The rising prevalence of chronic diseases can be attributed to a combination of various factors, including lifestyle changes, aging populations, and genetic predispositions. Cell banking outsourcing plays a valuable role in advancing research and development efforts aimed at addressing chronic diseases by providing access to expertise, resources, and infrastructure that may not be available in-house. For instance, in July 2023, according to the Department of the Treasury, an Australia-based national treasury and financial department, in 2020-21, nearly half of Australians of all ages (46.6%) had one or more chronic diseases, and almost one in five (18.6%) had two or more chronic conditions. Therefore, the rise in the burden of chronic diseases is driving the growth of the cell banking outsourcing market.
Innovative Single Cell Potency Characterization Platform Revolutionizes Cell Therapy Research
Major companies operating in the cell banking outsourcing market are focusing on developing technologically advanced solutions, such as single-cell potency characterization platforms, to provide precise and detailed analysis of individual cell potency. A single-cell potency characterization platform is a sophisticated technology or set of methodologies designed to assess and measure the potency and functional capabilities of individual cells within a cell population. For instance, in January 2024, Cellply Srl, an Italy-based biotechnology company, launched VivaCyte, its flagship product and an end-to-end single-cell potency characterization platform that integrates potency analysis and immunophenotyping to streamline cell therapy research and development. VivaCyte is a fully automated, standalone platform with single-cell resolution, designed to reduce development times, costs, and risks by characterizing the complex functionality and mechanism of action of potential cellular immunotherapies rapidly and comprehensively. This platform enables rapid testing of multiple cell therapy candidates from various process options against multiple target tumor cells, providing reproducible immune cell characterization and single-cell functional characterization in a fraction of the time needed by existing analytical tools.
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
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Major companies operating in the cell banking outsourcing market are Labcorp Drug Development, SGS Life Sciences, Lonza Group Ltd., WuXi AppTec, Charles River Laboratories, Sigma-Aldrich Co. Ltd., Covance Inc., Global Stem Inc., LifeCell, Cryoviva India, Sartorius AG, Bio Reliance, CordLife, Reliance Life Sciences, Cryo-Cell International Inc., Toxikon Corp., Cleancells, Clean Biologics, Texcell, PX'Therapeutics SA, Goodwin Biotechnology Inc., Transcell Biolife Pvt Ltd, Perfectus Biomed Limited, BioStorage Technologies Inc.
Contents of the report:
1. Executive Summary
2. Cell Banking Outsourcing Market Report Structure
3. Cell Banking Outsourcing Market Trends And Strategies
4. Cell Banking Outsourcing Market - Macro Economic Scenario
5. Cell Banking Outsourcing Market Size And Growth
…..
27. Cell Banking Outsourcing Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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