Albany, NY -- (SBWIRE) -- 09/22/2020 -- Global GMP Cell Banking Services Market: Overview
A burgeoning pharmaceutical industry hard-pressed to find treatments and cures for various chronic and other ailments has given rise to the concept of cell banking. With limited capacity to store cells required for research in the field of regenerative medicines, somatic cell therapy, gene therapy, and tissue-engineered products they are increasingly outsourcing it to other entities specializing in it. GMP basically stands for "Good Manufacturing Practice." A recent report on GMP cell banking services finds that the market is set to rise in the near term with the capacity constraints being faced by the pharmaceutical manufacturing companies and medical research institutes.
An upcoming report on the global GMP cell banking services market by Transparency Market Research attempts to examine in depth the factors molding it. It studies both the market specific factors and macro fundamentals stoking or hindering market growth. The report also segments the GMP cell banking services market based on different parameters such as applications and geography. It then deep dives into each sector to understand which ones hold out maximum promise. The report also tries to figure out the current and future size of the market with respect to revenue generation.
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Global GMP Cell Banking Services Market: Key Trends
A cell bank comprises of a storage facility for cells extracted from different body fluids and organ tissue so that they can be used in the future. Stored cells contain detailed characterization of the cell line thereby decreasing chances of cross contamination. And GMP cell banking services consists of outsourcing gathering, storing, characterization, and testing facilities of cell lines, tissues, and cells. The report predicts that the rising popularity and subsequent demand for stem cell therapies would provide a major boost to the global GMP cell banking services market.
As per the TMR report, the global GMP cell banking services market is also being boosted by the development of cutting-edge preservation technologies and surging research in cell line development. However, complexity of the entire procedure and inconsistent demand is dampening market growth to an extent.
Depending upon the cell type, the global GMP cell banking services market can be segmented into microbial, mammalian, yeast, insect, stem cell, and avian, among others. Among them, the segment of mammalian currently has a significant share in the market. It generates most of the revenue and would probably rise at a healthy clip in the years to come. Meanwhile, the microbial segment is predicted to emerge as the most attractive in the upcoming years.
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Global GMP Cell Banking Services Market: Regional Outlook
The global GMP cell banking services market is spread across North America, Europe, Asia Pacific, and the Middle East and Africa. North America, among them, is considered one of the attractive GMP cell banking services market with the mammalian cell type segment generating most of the revenue. The segment has also been generating substantial revenue in the Asia Pacific GMO cell banking services market. In fact, the Asia Pacific market is seeing solid rise because of the shift of research and development activities in the region from North America and Europe.
Global GMP Cell Banking Services Market: Competitive Dynamics
The global GMP cell banking services market is fragmented in nature. This is because of the presence of several companies offering a range of services in it. This also limits their global outreach and localizes competition. Some the key players among them profiled in the report include WuXi AppTec, Eurofins Scientific, Charles River Laboratories International, Inc., Lonza Group Ltd., and SGS Ltd.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
-Customer Experience Maps
-Insights and Tools based on data-driven research
-Actionable Results to meet all the business priorities
-Strategic Frameworks to boost the growth journey
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