Global GMP Cell Banking Services Market is Expected to Witness High Growth During the Forecast Period 2020 to 2027
A new research report published by Fior Markets with the title GMP Cell Banking Services Market by Type (Stem Cell, Avian, Yeast, Insect, Microbial, Mammalian), Application (Contract Manufacturing Organizations, Biopharmaceutical Companies), Region, Global Industry Analysis, Market Size, Share, Growth, Trends, and Forecast 2020 to 2027.
The global GMP cell banking services market is expected to grow from USD XX billion in 2019 to USD XX billion by 2027, at a CAGR of XX% during the forecast period 2020-2027. Asia Pacific is expected to have the largest market share. It is due to a rise in research and development activities to launch new products in the market. Cell banking services are generating higher revenue in the region. Increased technological innovations, as well as a rise in the investments related to advanced technology, are diving the growth of the market.
NOTE: Our analysts monitoring the situation across the globe explains that the market will generate remunerative prospects for producers post COVID-19 crisis. The report aims to provide an additional illustration of the latest scenario, economic slowdown, and COVID-19 impact on the overall industry.
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Key players in the GMP cell banking services market are Covance, Charles River Laboratories, Cleancells, BSL Bio service, Sartorious, BioReliance, Paragon Bioservices, Goodwin Biotechnology, Austrianova, ViruSure, SGS Ltd, Lonza, Merck KGaA, Eurofins Scientific, Charles River Laboratories and WuXi AppTec. Key players are emphasizing on adopting collaboration as well as marketing strategies such as mergers and acquisitions in to expand its product portfolio. For the research and development in cell therapy, Lonza collaborated with Parker Institute, Fred Hutchinson Cancer Research Center and Stanford University School of Medicine, for Cancer Immunotherapy.
The type segment includes stem cell, avian, yeast, insect, microbial and mammalian. Microbial segment is expected to show higher growth over the forecast period. It is used to multiply microbial organisms. The process is carried out under controlled conditions in a predetermined culture medium. It is used as a research tool for diagnosis in molecular biology. The application segment includes contract manufacturing organizations and biopharmaceutical companies. Maintaining fixed costs in a competitive market, while pricing is an essential task for vendors. Biopharmaceutical companies are expected to show the highest growth as they are emphasizing on outsourcing the manufacturing of biologics. It is done in order to set competitive pricing and reduce their manufacturing costs.
Cell bank services are used to store extracted cell from organ tissue and body fluids for the future usage. It is beneficial as it decreases cross-contamination because of the detailed characterization of the cell line. It involves testing, characterization, storing, gathering and outsourcing facilities of cell tissues and lines. Stem cell therapies are projected to drive the market due to its increased demand and popularity. A surge in research and development in cell line, as well as enhanced preservation technologies, are contributing factors in the growth of the market.
About the report:
The global GMP cell banking services market is analyzed on the basis of value (USD Billion), volume (K Units), export (K Units), and import (K Units). All the segments have been analyzed on global, regional and country basis. The study includes an analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, and competitor position grid analysis.
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- CDN Newswire