Find Out More About Cell Banking Outsourcing Market Global Growth With Rising CAGR And Forecast Till 2030Posted by Mrudula Anil Karmarkar on May 19th, 2023 The global cell banking outsourcing market size is expected to reach USD 35,593.6 million by 2030, registering a CAGR of 16.39% during the forecast period, according to a new report by Grand View Research, Inc.Introduction of novel technologies for the collection, testing, and storage of cell lines are expected to boost the cell banking market during the forecast period. Automation in cord blood processing and storage are the key technologies that are expected to affect the growth of the market. CellTrials.org found that global enrolments of new trials in advanced cell therapy were up almost 30% in the first quarter of 2020. Most of the rise can be associated with cell therapy efforts for treating COVID-19, and over half of those trials for COVID-19 employ umbilical cord MSCs. Hence, the pandemic has created a new market for those companies which are engaged in the manufacturing of MSCs products. According to a report published by Pharma Intelligence UK Limited, 21 oncological drugs are expected to be launched in 2022. Moreover, these drugs will be used for the treatment of different metabolic disorders which would result in the increased entry of novel biosimilar drugs into the market during the forecast period. For instance, in 2022, Center for Drug Evaluation and Research (CDER), approved 15 new drugs and biological products. Cell lines are highly valuable assets for the production and testing of these biopharmaceuticals. Hence, the increasing number of R&D activities for biosimilar and biologic products is expected to increase demand for the good-quality cell lines, thereby, fueling the demand for banking services. Monoclonal antibody industry is growing at a rapid pace, owing to the advantages associated with it such as treatment for a wide array of diseases including autoimmune diseases, cancer, and inflammatory diseases. The demand for monoclonal antibodies for the treatment of these diseases is expected to increase during the forecast period, due to the benefits offered by them, which exhibit high efficiency, high specificity, and comparatively lesser side effects. The increasing number of monoclonal antibody-based viable therapies, as well as the introduction of various new modalities related to their clinical development, are expected to drive the growth of the monoclonal antibodies. A clone with the best properties is chosen and stored in a bank, allowing for the production of monoclonal antibodies to be repeated for a decade. Therefore, the increasing growth of monoclonal antibodies is expected to propel the demand for banking throughout the forecast period. To Request Sample Copy of this report, click the link: https://www.grandviewresearch.com/industry-analysis/cell-banking-outsourcing-market/request/rs1 Human embryonic research poses a moral duty such as respecting the value of human life and preventing suffering. The harvesting of embryonic stem cells violates the duty of respect value for human life as it is a consequence of the destruction of human embryos. In addition, granting of intellectual property rights (IPR) to the product or material used in research and commercialization of such services are the major restraints in cell development. Ethical approval should be obtained before the storage of cell lines and tissues in biorepositories as the technology allows patients identification just from DNA; which may lead to the misuse of tissue for an illegal purpose or for proxy identification of diseases to claim insurance. Cell Banking Outsourcing Market Report Highlights
Rising advancement of the cryopreservation and cell banks preparation methodologies, increasing adoption of stem cell therapies, and growing demand for monoclonal antibodies along with effective biopharmaceuticals are the major factors, driving growth of the market. According to CellTrials.org global enrolments of new trials in advanced cell therapy were up almost 30% in the first quarter of 2020. Most of the rise can be associated to cell therapy efforts for treating COVID-19, and over half of those trials for COVID-19 employ umbilical cord MSCs. Hence, the pandemic has created a new market for those companies which are engaged in the manufacturing of MSCs products from donated birth tissues, hence may contribute to the market growth, post pandemic. Moreover, many of these manufacturers have applied for COVID-19 EUA from the FDA and are partnering with local hospitals to treat COVID-19 patients. For instance, in September 2021, Life Cell’s Mesocel received approval for a clinical trial from DCGI; therapy derived MSC of the umbilical cord tissue set to treat patients with pneumonia, COVID-19, and acute respiratory distress. The presence of favorable government initiatives for the development of stable cell lines, as well as the introduction of new technology for cell line storage and characterization, are among the critical factors expected to drive market growth in the forecast period. For instance, In December 2021, ‘Vineti’ and ‘Be The Match BioTherapies’ collaborated to develop an integrated supply chain management solution for gene and cell therapy. Such initiatives and collaborations are anticipated to drive growth during the forecast period. Furthermore, the key players in the market are also involved in research collaborations, in order to reprogram newborn stem cells from umbilical cord blood as well as umbilical cord tissue into iPSCs. These collaborations are also expected to drive the growth of market over the forecast period. For instance, In May 2021, Opsis Therapeutics, FUJIFILM Cellular Dynamics, and Blue Rock Therapeutics entered into strategic research and development to create cell therapies to cure eye diseases. These companies will use their expertise to develop off-the-shelf iPSCs to cure ocular diseases. List of Key Players of Cell Banking Outsourcing Market
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