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).), By Region - Industry Forecast 2024-2031

Global 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 global cell banking outsourcing market is expected to experience significant growth in the coming years, driven by various factors. One of the major drivers is the rising advancement of cryopreservation and cell bank preparation methodologies. Additionally, the increasing adoption of stem cell therapies and growing demand for monoclonal antibodies and effective biopharmaceuticals contribute to market growth. According to CellTrials.org, global enrollments of new trials in advanced cell therapy increased almost 30% in the first quarter of 2020, indicating a growing demand for cell banking services. Moreover, favorable government initiatives and the introduction of new technology for cell line storage and characterization are expected to further propel market growth. Several key players in the market are involved in research collaborations, which are expected to drive market growth. For instance, in May 2021, Opsis Therapeutics, FUJIFILM Cellular Dynamics, and Blue Rock Therapeutics entered into a strategic research and development collaboration to develop off-the-shelf iPSCs to cure ocular diseases. In March 2022, a study led by the Indiana University School of Medicine found that human-induced pluripotent stem cells can improve visual acuity and vascular health, indicating the potential of stem cell banking in managing the vascular health complications associated with type 2 diabetes. Additionally, research for introducing cry protective agents to preserve tissue stability during cryopreservation is expected to drive market growth.

US Cell Banking Outsourcing Market is poised to grow at a sustainable CAGR for the next forecast year.