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Cell Banking Outsourcing Market Size Forecasted To Achieve $22.39 Billion By 2029 With Steady Growth
Cell Banking Outsourcing Market
What Is the Cell Banking Outsourcing Market Size and Projected Growth Rate?
The cell banking outsourcing market has seen rapid growth. It is projected to grow from $11.19 billion in 2024 to $12.89 billion in 2025, at a CAGR of 15.2%. Factors driving this growth include the rise in chronic diseases, increased government initiatives, regulatory support, and the growing establishment of banking services.
The cell banking outsourcing market is projected to experience rapid expansion in the coming years, reaching $22.39 billion by 2029, growing at a compound annual growth rate (CAGR) of 14.8%. This growth is driven by increasing use of cellular products, higher demand for monoclonal antibodies, broader use of stem cell therapies, an aging population, and greater reliance on cell-based therapies. Trends during this period will include innovations in products, advancements in technology, R&D investments, and partnerships between biotech firms and specialized cell banking services.
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What Are the Major Segments in the Cell Banking Outsourcing Market?
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
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What Are The Driving Cell Banking Outsourcing Market Evolution?
The rise in chronic diseases is expected to accelerate the growth of the cell banking outsourcing market. Chronic diseases, which develop gradually and persist over time, are becoming more prevalent due to aging populations, lifestyle changes, and genetic factors. Cell banking outsourcing plays a key role in advancing research by offering essential expertise, resources, and infrastructure. A 2023 report by the Department of the Treasury in Australia showed that nearly half of the population had chronic conditions in 2020-2021. The increasing burden of chronic diseases is, therefore, driving market growth.
Which Firms Dominate The Cell Banking Outsourcing Market Segments?
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.
What Cell Banking Outsourcing Market Trends Are Gaining Traction Across Different Segments?
Companies in the cell banking outsourcing market are advancing technologies such as single-cell potency characterization platforms to provide detailed analysis of individual cell potency. In January 2024, Cellply Srl launched VivaCyte, an automated, end-to-end platform for single-cell potency characterization. This platform integrates potency analysis and immunophenotyping, reducing development times, costs, and risks in cell therapy research by enabling rapid, comprehensive testing of multiple cell therapy candidates.
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Which Is The Largest Region In The Cell Banking Outsourcing Market?
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.
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Cell Banking Outsourcing Market?
2. What is the CAGR expected in the Cell Banking Outsourcing Market?
3. What Are the Key Innovations Transforming the Cell Banking Outsourcing Industry?
4. Which Region Is Leading the Cell Banking Outsourcing Market?
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