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

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 cell banking outsourcing market is highly competitive and fragmented, with several small and large players offering a wide range of services. The market players compete based on factors such as service quality, pricing, technology, and customer service. The presence of favorable government initiatives, collaborations, and strategic partnerships are also significant competitive factors in the market. Moreover, market players are focusing on the development of new technologies and services to meet the increasing demand for cell banking services. The intense competition in the market is expected to drive innovation and foster growth in the industry. 'Lonza Group Ltd. (Switzerland)', 'SGS SA (Switzerland)', 'Charles River Laboratories International, Inc. (US)', 'WuXi AppTec (China)', 'Eurofins Scientific (Luxembourg)', 'Merck KGaA (Germany)', 'BioReliance Corporation (US)', 'Toxikon Corporation (US)', 'GlobalStem (US)', 'Paragon Bioservices, Inc. (US)', 'BSL Bioservice Scientific Laboratories GmbH (Germany)', 'ATCC (US)', 'BioOutsource Ltd. (UK)', 'ViruSure GmbH (Austria)', 'Sartorius AG (Germany)', 'Thermo Fisher Scientific Inc. (US)', 'Covance Inc. (US)', 'TATAA Biocenter AB (Sweden)', 'CellBank Australia (Australia)', 'StemExpress, LLC (US)'

One of the major drivers of the cell banking outsourcing market is the increasing adoption of stem cell therapies. Stem cell therapy is a rapidly growing field of regenerative medicine that has the potential to treat a wide range of diseases and disorders. As the demand for stem cell therapies grows, the need for stable and high-quality cell lines increases, leading to a greater demand for cell banking services. This is driving the growth of the cell banking outsourcing market, as biopharmaceutical companies and CROs seek efficient and cost-effective solutions for producing and storing these valuable cell lines.

One key trend in the cell banking outsourcing market is the increasing demand for personalized medicine. Personalized medicine aims to provide individualized treatment based on a patient's genetic makeup. This requires the use of cells that are tailored to the specific needs of the patient. Cell banking outsourcing companies are investing in technologies that allow them to produce cells that are genetically matched to the patient. This trend is expected to drive the growth of the market as the demand for personalized medicine continues to increase.

North America dominated the market due to the presence of a well-established biopharmaceutical industry and advanced healthcare infrastructure. The growing demand for personalized medicines and increasing research activities in the region are driving the growth of the cell banking outsourcing market. The United States is the largest contributor to the growth of the North American market due to the increasing investments in the research and development of cell-based therapies.