Global Cell Banking Outsourcing Market Size, Share And Growth Analysis For 2024-2033

Cell Banking Outsourcing Global Market Report 2024 – Market Size, Trends, And Forecast 2024-2033

LONDON, GREATER LONDON, UK, July 26, 2024 /EINPresswire.com/ -- The cell banking outsourcing market has experienced robust growth in recent years, expanding from $9.76 billion in 2023 to $11.19 billion in 2024 at a compound annual growth rate (CAGR) of 14.7%. The growth in the historic period can be attributed to the rise in the prevalence of chronic diseases, the increased number of government initiatives, regulatory support and guidelines, and the increase in the establishment of banking services.

Strong Future Growth Anticipated
The cell banking outsourcing market is projected to continue its strong growth, reaching $19.51 billion in 2028 at a compound annual growth rate (CAGR) of 14.9%. The growth in the forecast period can be attributed to rising adoption of cellular products, growing demand for monoclonal antibodies, increasing adoption of stem cell therapies, rising geriatric population, and growing dependency on cell-based therapies.

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Growth Driver Of The Cell Banking Outsourcing Market
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.

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Major Players And Market Trends
Key players in the cell banking outsourcing market include LabCorp Drug Development, SGS Life Sciences, Lonza Group Ltd., WuXi AppTec, Charles River Laboratories, Sigma-Aldrich Co. Ltd.

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.

Segments:
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

Geographical Insights: North America Leading The 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.

Cell Banking Outsourcing Market Definition
Cell banking outsourcing refers to the practice of contracting external organizations to establish, maintain, and manage repositories of cell lines crucial for various applications in biotechnology and pharmaceutical industries, such as drug discovery and biomanufacturing. It ensures that cells are handled, stored, and maintained under standardized conditions, ensuring consistency and reliability.

Cell Banking Outsourcing Global Market Report 2024 from The Business Research Company covers the following information:
• Market size data for the forecast period: Historical and Future
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Trends, opportunities, strategies and so much more.
The Cell Banking Outsourcing Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on cell banking outsourcing market size, cell banking outsourcing market drivers and trends, cell banking outsourcing market major players, cell banking outsourcing competitors' revenues, cell banking outsourcing market positioning, and cell banking outsourcing market growth across geographies. The cell banking outsourcing market report helps you gain in-depth insights into opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.

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