Global Cell Banking Outsourcing Market Size, Share, Growth Analysis, By Type(Master Cell Banking and Working Cell Banking), By End-User(Biopharmaceutical Companies and Contract Research Organizations (Cros).) - Industry Forecast 2024-2031

Global Cell Banking Outsourcing Market size was valued at USD 10.60 billion in 2022 and is poised to grow from USD 12.34 billion in 2023 to USD 41.58 billion by 2031, growing at a CAGR of 16.40% during the forecast period (2024-2031).

The global cell banking outsourcing market is poised for substantial growth in the forthcoming years, buoyed by various factors. A significant driver is the advancing techniques in cryopreservation and cell bank preparation, alongside the escalating adoption of stem cell therapies and mounting demand for monoclonal antibodies and efficient biopharmaceuticals. With global enrollments of new trials in advanced cell therapy surging by nearly 30% in the initial quarter of 2020, as reported by CellTrials.org, there's evident growing demand for cell banking services. Furthermore, favorable government initiatives and the advent of novel technologies for cell line storage and characterization are anticipated to further fuel market expansion. Notably, key market players are engaging in research collaborations to drive growth, exemplified by Opsis Therapeutics, FUJIFILM Cellular Dynamics, and Blue Rock Therapeutics joining forces in May 2021 to develop off-the-shelf iPSCs for ocular disease treatment. Recent studies, like the one led by the Indiana University School of Medicine in March 2022, showcasing the potential of human-induced pluripotent stem cells in improving visual acuity and vascular health, underscore the significance of stem cell banking in managing vascular health complications linked to type 2 diabetes. Moreover, ongoing research into cryoprotective agents aimed at preserving tissue stability during cryopreservation is expected to be another catalyst for market growth.

Top-down and bottom-up approaches were used to estimate and validate the size of the Global Cell Banking Outsourcing Market and to estimate the size of various other dependent submarkets. The research methodology used to estimate the market size includes the following details: The key players in the market were identified through secondary research, and their market shares in the respective regions were determined through primary and secondary research. This entire procedure includes the study of the annual and financial reports of the top market players and extensive interviews for key insights from industry leaders such as CEOs, VPs, directors, and marketing executives. All percentage shares split, and breakdowns were determined using secondary sources and verified through Primary sources. All possible parameters that affect the markets covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data.

Global Cell Banking Outsourcing Market Segmental Analysis

Global Cell Banking Outsourcing market is segmented by type, end-user, and region. Based on type, the market can be segmented into master cell banking, and working cell banking. Based on end-user, the market is segmented into biopharmaceutical companies and contract research organizations (CROs). Based on region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.

Drivers of the Global Cell Banking Outsourcing Market

The escalating adoption of stem cell therapies stands as a significant catalyst propelling the global cell banking outsourcing market forward. Stem cell therapy, a swiftly advancing sector within regenerative medicine, holds promise in addressing various diseases and disorders. With the expanding demand for such therapies, there arises a pressing need for reliable and top-tier cell lines, thereby fueling the requirement for cell banking services. Consequently, this surge in demand is spurring the growth of the cell banking outsourcing market, as biopharmaceutical firms and CROs pursue streamlined and economical avenues for the production and preservation of these invaluable cell lines.

Restraints in the Global Cell Banking Outsourcing Market

One of the primary challenges facing the global cell banking outsourcing market is the substantial expense associated with cell banking services. The rigorous testing and characterization essential for guaranteeing the safety and quality of cell lines necessitate substantial investments in specialized equipment and infrastructure, consequently elevating service costs. Moreover, stringent regulations enforced by regulatory authorities pertaining to cell line production and storage further contribute to the overall expenses. These high costs might hinder the widespread adoption of such services, particularly in developing regions where healthcare budgets are constrained.

Market Trends of the Global Cell Banking Outsourcing Market

One notable trend in the cell banking outsourcing sector is the rising interest in personalized medicine, which seeks to deliver tailored treatments according to each patient's genetic composition. Achieving this goal involves utilizing cells customized to individual requirements. To meet this demand, cell banking outsourcing firms are directing investments towards technologies capable of producing genetically matched cells for patients. This trend is projected to fuel market expansion, reflecting the growing demand for personalized medical solutions.