Global GMP Cell Banking Services market Size, Share, and COVID-19 Impact Analysis, By Type (Mammalian, Microbial, Insect, Yeast, Avian, Stem Cell, and Others), By Applications (Biopharmaceutical Companies and Contract Manufacturing Organizations),and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2021 – 2030.Industry: Healthcare
Global GMP Cell Banking Services market Insights Forecasts to 2030
- The global GMP cell banking services market was valued at USD 190 Million in 2021.
- The market is growing at a CAGR of 4.5% from 2022 to 2030
- The global GMP cell banking services market is expected to reach USD 282 Million by 2030
- The Asia Pacific is expected to grow the fastest during the forecast period
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The Global GMP Cell Banking Services Market is expected to reach USD 282 Million by 2030, at a CAGR of 4.5% during the forecast period 2022 to 2030. The GMP Cell Banking Services market has grown due to increased funding from government organizations. In addition, the government bodies are also giving approval to the market players.
A cell bank is a facility that aids in the storage of cells with a specific genome for potential use in the future for medical purposes or in the creation of a product. Large quantities of base cell material are frequently available in cell banks and can be employed in a variety of projects. Cell banks are used to generate precise characteristics of cell lines and to help reduce cross-contamination of the same. Utilizing cell banks lowers the price of cell culture procedures as well, providing a more affordable option than maintaining cells in culture continuously.
The rising demand for the technique and the spread of uncommon diseases around the world is projected to be the main factors driving the growth of the global GMP cell banking services market. In a wide range of industries, including pharmaceuticals and stem cell research, cell banks are frequently used. Cryopreservation is the term used to describe the conventional process used to preserve the components of cells.
Additionally, over time, cell banks have the ability to reduce the frequency of cell samples that have undergone spontaneous cell division. The funding of research and development initiatives for rare diseases has expanded, which is projected to open the door for the growth of the global GMP cell banking services market during the forecast period. One example is how the US Food and Drug Administration (FDA) funds research into uncommon diseases.
The FDA uses legislation-mandated initiatives like the Orphan Products Grants Program, which provides funding for natural history research and clinical trials for rare medical disorders. Additionally, the construction of numerous stem cell banking resource centres is anticipated to have a beneficial impact on the global GMP cell banking services market. For instance, Jerudong Park Medical Center, a private hospital in Brunei, has a resource center for stem banking established by Kuala Lampur-based cord blood bank Stemlife Berhad. Such tactics by top industry players are probably going to fuel the global GMP cell banking services market's expansion in the years to come.
Global GMP Cell Banking Services market Report Coverage
|Market Size in 2021:||USD 190 Million|
|Forecast Period 2022-2030 CAGR:||4.5%|
|2030 Value Projection:||USD 282 Million|
|Historical Data for:||2019-2020|
|No. of Pages:||279|
|Tables, Charts & Figures:||110|
|Segments covered:||By Product Type, By Application|
|Companies Covered:||WuXi AppTec, Charles River Laboratories, Eurofins Scientific, Merck KGaA, Lonza, SGS Ltd, ViruSure, Austrianova, Goodwin Biotechnology, Paragon Bioservices, BioReliance, Sartorious, BSL Bioservice, Cleancells, and Covance.|
|Growth Drivers:||The global GMP cell banking services market is expected to grow from USD 190 million in 2021 to USD 282 million by 2030, at a CAGR of 4.5% during the forecast period 2022-2030.|
|Pitfalls & Challenges:||Utilizing cell banks lowers the price of cell culture procedures as well, providing a more affordable option than maintaining cells in culture continuously.|
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This research report categorizes the market for global GMP cell banking services based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the global GMP cell banking services market. Recent market developments and competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each global GMP cell banking services market sub-segments.
- In 2021, the mammalian segment dominated the market with the largest market share of 33.1% and market revenue of 62.89 million.
Based on the type, the global GMP cell banking services market is categorized into Mammalian, Microbial, Insect, Yeast, Avian, Stem Cell, and Others. In 2021, the mammalian segment dominated the market with the largest market share of 33.1% and market revenue of 62.89 million. The Mammalian segment is dominating, This is due to the fact that it is widely used in GMP cell banking services.
- In 2021, the biopharmaceutical companies segment accounted for the largest share of the market, with 60% and a market revenue of 114 million.
Based on application, the GMP cell banking services market is categorized into Biopharmaceutical Companies and Contract Manufacturing Organizations. In 2021, the biopharmaceutical companies segment accounted for the largest share of the market, with 60% and market revenue of 114 million. By aiming to boost operating effectiveness and pipeline productivity, biopharmaceutical businesses are committing themselves more firmly to outsourcing. Private businesses like biotechnology firms have always opted for outsourcing over building internal infrastructure. In order to monetize innovation and gain experience in drug discovery and development, academic institutions are forming partnerships with biopharmaceutical companies.
Regional Segment Analysis of the GMP Cell Banking Services Market
- North America (U.S., Canada, Mexico)
- Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
- Asia-Pacific (China, Japan, India, Rest of APAC)
- South America (Brazil and the Rest of South America)
- The Middle East and Africa (UAE, South Africa, Rest of MEA)
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North America emerged as the largest market for the global GMP cell banking services market, with a market share of around 35% and 190 million of the market revenue in 2021.
- In 2021, North America emerged as the largest market for the global GMP cell banking services market, with a market share of around 35% and 190 million of the market revenue. North America is expected to be the largest market. Due to the significant amount of mammalian cells, North America is thought to be one of the largest regions. According to estimates, this category of cells will dominate the North American market in terms of revenue.
- The Asia-Pacific market is expected to grow at the fastest CAGR between 2021 and 2030, Mammalian cell type generates the majority of the region's revenue, making Asia Pacific another significant and lucrative market region. The market in Asia Pacific is anticipated to be driven by an increase in funding for rare disease research and development as well as related activities.
The report offers the appropriate analysis of the key organizations/companies involved within the global GMP cell banking services market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the companies' current news and developments, including product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.
List of Key Market Players:
- WuXi AppTec
- Charles River Laboratories
- Eurofins Scientific
- Merck KGaA
- SGS Ltd
- Goodwin Biotechnology
- Paragon Bioservices
- BSL Bioservice
Key Target Audience
- Market Players
- Government Authorities
- Consulting And Research Firm
- Venture capitalists
- Third-party knowledge providers
- Value-Added Resellers (VARs)
Some of the Key Developments:
- In March 2020,In order to conduct cell therapy research and development, the Parker Institute for Cancer Immunotherapy, Fred Hutchinson Cancer Research Center, and Stanford University School of Medicine joined up with Lonza Group Ltd.
This study forecasts global, regional, and country revenue from 2019 to 2030. Spherical Insights has segmented the global GMP cell banking services market based on the below-mentioned segments:
Global GMP cell banking services market, By Type
- Stem Cell
Global GMP cell banking services market, By Application
- Biopharmaceutical Companies
- Contract Manufacturing Organizations
Global GMP cell banking services market, Regional Analysis
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- South America
- Rest of South America
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
- Drivers-Rise in government initiatives
- Restraint- lack of awareness
- Opportunities- Rise inHealthcare expenditure
- Challenges- High Cost
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