The method of reproducing and depositing neurons for potential use is known as cell banking. These cell samples can be kept indefinitely for use in research and surgical reconstruction of broken body structures. Cells are frozen in cryovials at -196 degrees Celsius using cryoprotection agents like DMSO (10%) solution. The most prevalent application of cell banking is in stem cell research and therapy. Master cell banks and working cell banks are two different types of cell banks. Working cell banks are formed by expanding master cell banks. Working cell banks include thawed cells that are duplicated in cultured cells, while master cell banks have pure cells from which cells are duplicated.
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The rapid increase in the number of stem cell therapies is likely to fuel the expansion of the cell banking outsourcing industry. According to the World Network for Blood and Marrow Transplantation (WBMN), about one million hematopoietic stem cell transplants were performed between 2006 and 2014.
Market players’ increasing use of cooperation and acquisition tactics is projected to drive market expansion during the forecast period. In June 2017, Alligator Bioscience announced a Cell Line Development Partnership with Sartorius Stedim Biotech Group (BioOutsource) in the development of immuno-oncology antibody drug candidates. BioGenes GmbH established a partnership with Eurofins Munich, a contract research organization for biopharmaceutical product testing, in June 2016 to improve host cell protein testing (HCP).
Moreover, for the cure of illnesses such as cancer, more research and development in therapy areas such as immunotherapy is being undertaken. Additionally, rising demand for biologic goods such as vaccines, which need viral cell banking and viral cell banking safety testing, is projected to drive the global cell banking outsourcing market forward.
However, one of the market’s biggest challenges is the high expense of preserving these cells in cell banks. Cell storage costs up to US$ 2,500 per year, which is estimated to limit the growth of the global cell banking outsourcing market. Some legal issues associated with banking various cells, particularly stem cell banking, are projected to limit industry expansion. Insurance businesses only compensate for cord blood banking when it is medically required. This restricts new parents’ options for storing such cells for future usage, hampering the growth of the global cell banking outsourcing market.
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In the U.S., cord blood banking is only reimbursed when it is medically required. This restricts new parents’ options for storing such cells for future use, stifling the global cell banking outsourcing market’s progress. In addition, the country’s growing number of active research and development initiatives in the fields of gene therapy, cell therapy, and biological products are fueling market expansion. Cells are utilized to generate various proteins such as antigens and antibodies, as well as to employ viruses to create live attenuated and inactivated vaccines, therefore cell banking is becoming increasingly important. Due to increased knowledge among prospective mothers about the benefits of preserving umbilical cord blood of their new-born children, regions such as Asia Pacific are projected to see substantial development.
Major companies contributing in the global cell banking outsourcing market are BSL Bioservice Scientific Laboratories Munich GmbH, CordLife Group Ltd, Cryobanks International India, BioOutsource Ltd., Cryo-Cell International Inc., Charles River Laboratories, Goodwin Biotechnology Inc., LifeCell International Pvt. Ltd., BioReliance Corporation, GlobalStem Inc., Covance, Inc., and Cleancells.
Cell Banking Outsourcing Market Taxonomy:
By Type of Bank:
- Master Cell Banking
- Working Cell Banking
- Viral Cell Banking
By Type of Cell:
- Stem Cell Banking
- Cord Stem Cell Banking
- Embryonic Stem Cell Banking
- Adult Stem Cell Banking
- Dental Stem Cell Banking
- IPS Stem Cell Banking
- Non-stem Cell Banking
- Cell Bank Storage
- Master Cell Bank Storage
- Working Cell Bank Storage
- Cell Storage Stability Testing
- Bank Characterization and Testing
- Safety Testing
- Viral Cell Bank Safety Testing
- Microbial Cell Bank Safety Testing
- Gene Expression Testing
- Karyology Testing
- Gene Sequencing Testing
- Cell Bank Preparation
- Master Cell Bank Preparation
- Working Cell Bank Preparation
- Safety Testing
- North America
- Asia Pacific
- Latin America
- Middle East
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Current and future of global Cell Banking Outsourcing market outlook in the developed and emerging markets
The segment that is expected to dominate the market as well as the segment which holds highest CAGR in the forecast period.
Regions/countries that are expected to witness the fastest growth rates during the forecast period
The latest developments, market shares, and strategies that are employed by the major market players
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Major Point Answered in Cell Banking Outsourcing Market Research Study are:
What will be the progress rate of the Cell Banking Outsourcing Market for the conjecture period, 2020-2027?
What are the prominent factors driving the Cell Banking Outsourcing Market across different regions?
Who are the major vendors dominating the Cell Banking Outsourcing industry and what are their winning strategies?
What will be the market scope for the estimated period?
What are the major trends shaping the expansion of the industry in the coming years?
What are the challenges faced by the Cell Banking Outsourcing Market?
Actual Numbers & In-Depth Analysis, Business opportunities, Market Size Estimation Available in Full Report.
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