Mammalian cell type segment is the most attractive segment in the global GMP cell banking services market
Mammalian segment dominated the global GMP cell banking services market in terms of revenue in 2016 and the trend is projected to continue throughout the forecast period. The mammalian segment is the most attractive segment with attractiveness index of 5 over the forecast period. The segment is expected to expand at 15.6% CAGR over the forecast period and be valued close to US$ 690 Mn by 2025 end. The mammalian segment accounted for more than 60% revenue share of the global GMP cell banking services market in 2016 and is expected to gain 556 basis points in its market share by 2025 over 2017. Mammalian cell type segment is projected to create absolute $ opportunity of more than US$ 30 Mn in 2018 over 2017. Revenue from the mammalian segment in the global GMP cell banking services market is expected to grow 3.2x by 2025 end as compared to that in 2017.
Limited in-house storage and testing capabilities is a main factor boosting the global GMP cell banking services
Global biopharmaceutical companies are making a more significant commitment to outsourcing by striving to improve operating efficiency and increase pipeline productivity. Biotechnology companies and other private organizations have always preferred outsourcing to investing in internal infrastructure. Academic institutions are also partnering with biopharmaceutical companies to monetize innovation and acquire expertise in drug discovery and development.
Some of the most promising new therapies are being discovered by small biotechnology companies supported by venture capital funds, capital markets as well as large biopharmaceutical companies. These companies are expected to continue to invest in their pipelines due to the continuing availability of funding. Additionally, biopharmaceutical companies prefer to outsource manufacturing in markets where they have limited expertise in various stages of the value chain, especially towards the end where a CDMO’s presence in a particular region gives them access to a vast distribution network, as well as knowledge of existing regulatory guidelines. These factors drive the growth of the global GMP cell banking services market.
Large biopharmaceutical companies have several manufacturing sites that typically produce commercially marketed therapeutics as well as material for clinical development. As a result, the in-house capacity for storage of GMP cell banks is limited. Cell banking service providers have the required infrastructure in place, such as designated clean rooms and trained personnel, and also ensure adherence to regulatory guidelines such as ICH, thereby making them an ideal partner for biopharmaceutical companies. They are also able to provide in-house testing services or sub-contract these to certified testing laboratories. Limited in-house storage and testing capabilities are likely to fuel the growth of the global GMP cell banking services market.
Mammalian cell type segment is predicted to dominate the key regional GMP cell banking services markets in terms of revenue
The mammalian cell type segment dominated the North America GMP cell banking services market in revenue terms in 2016 and is projected to continue to do so throughout the forecast period. The mammalian cell type segment is the most attractive segment in the North America regional market, recording an attractiveness index of 5.1 over the forecast period. The mammalian segment is also the most attractive segment by cell type in the Latin America GMP cell banking services market with an attractiveness index of 4.5 over the period of forecast. In the Europe GMP cell banking services market, revenue from the mammalian segment is anticipated to increase at a CAGR of 13.3% over 2017-2025 to reach more than US$ 200 Mn by 2025. The mammalian segment dominated the Asia Pacific GMP cell banking services market in terms of revenue in 2016, and the trend is projected to continue throughout the forecast period.
Request to View Report Table of Contents, Figures, and Tables@ http://www.persistencemarketresearch.com/market-research/gmp-cell-banking-service-market/toc
Persistence Market Research Overview
Persistence Market Research (PMR) is a third-platform research firm. Our research model is a unique collaboration of data analytics and market research methodology to help businesses achieve optimal performance.
To support companies in overcoming complex business challenges, we follow a multi-disciplinary approach. At PMR, we unite various data streams from multi-dimensional sources. By deploying real-time data collection, big data, and customer experience analytics, we deliver business intelligence for organizations of all sizes.
Connect with us on LinkedIn@ https://www.linkedin.com/company/persistence-market-research-&-consulting
Queries regarding these research findings can be addressed to Persistence Market Research’s analysts at email@example.com
Persistence Market Research
U.S. Sales Office:
305 Broadway, 7th Floor
New York City, NY 10007
USA – Canada Toll-Free: 800-961-0353