GMP Cell Banking Services Market Analysis, Size, Share, Growth, Trends, and Forecast 2019 - 2027

                                                                               
The concept of cell banking arose as a result of the burgeoning pharmaceutical industry's struggle to find treatments and cures for various chronic and other ailments.

       GMP Cell Banking Services Market


The concept of cell banking arose as a result of the burgeoning pharmaceutical industry's struggle to find treatments and cures for various chronic and other ailments. Due to limited storage capacity for cells needed for research in the fields of regenerative medicine, somatic cell therapy, gene therapy, and tissue-engineered products, they are increasingly outsourcing it to other entities specialising in it. GMP is an abbreviation for "Good Manufacturing Practice." According to a recent report on GMP cell banking services, the market is expected to grow in the near term due to capacity constraints faced by pharmaceutical manufacturing companies and medical research institutes.

Increased funding for research and development in rare diseases is expected to drive growth in the global GMP cell banking services market during the forecast period. For example, the Food and Drug Administration (FDA) in the United States funds rare disease research through congressionally mandated programmes such as the Orphan Products Grants Program, which supports natural history studies and clinical trials for rare diseases. Furthermore, the establishment of stem cell banking resource centres is expected to aid in market growth. For example, Stemlife Berhad, a Malaysian cord blood bank, will open a Stem Cell Banking Resource Center in Brunei's Jerudong Park Medical Center in March 2020.


Market Segmentation:

By Cell Type
  • Mammalian
  • Microbial
  • Insect
  • Yeast
  • Avian
  • Stem Cell
  • Others

By End User
  • Biopharmaceutical Companies
  • Contract Manufacturing Organizations

The major players operating in the global GMP cell banking services market include, WuXi AppTec Group, Charles River Laboratories International, Inc., Eurofins Scientific, Merck KGaA, Lonza Group Ltd., SGS Ltd., ViruSure GmbH, Austrianova, Goodwin Biotechnology Inc., and Paragon Bioservices, Inc.

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