Surging Demand for Novel Pharmaceuticals is Driving the Commercialization of GMP Cell Banking Services
Rockville, Dec. 20, 2023 (GLOBE NEWSWIRE) — As per Fact.MR, a provider of market research and competitive intelligence, in 2024, the global GMP Cell Banking Service Market value is estimated to be around US$ 882.1 million. The global market for GMP cell banking services is projected to grow at 13.7% between 2024 and 2034. The report further predicts the overall market valuation to reach US$ 3,123.5 million by the end of this projection period.
GMP cell banking services are critical to guarantee the quality, purity, and traceability of the cell lines utilized in the research and development of new treatments. GMP cell banking services also reduce the possibility of contamination and drug price fluctuation by guaranteeing the consistency and quality of cell lines.
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Key Segments of GMP Cell Banking Service Industry Research Report
| By Cell Type | By End User | By Region |
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The size and competitiveness of different GMP cell line end users are anticipated to determine the future growth prospects for the market under discussion. Companies that can deploy modern equipment to produce and preserve cell lines are expected to adapt to the ever-changing GMP cell banking services market.
“GMP cell banking services are advancing rapidly with the expansion of biopharmaceutical businesses bringing about therapeutic medicines on a commercial scale. Nowadays, biopharmaceutical businesses’ higher reliance on contract manufacturing companies for cell line production and banking has resulted in market players focusing more on CMOs,” says an analyst.
Key Takeaways from the Global GMP Cell Banking Service Market Study Report
- The United States is the leading market for GMP cell banking services, which is expected to advance with a 13.1% annual growth rate till 2034.
- Canada is estimated to have around 22.8% of the North American market and is projected to follow 12.7% CAGR through 2034.
- In Europe, Germany is observed to have around 33.4% of the total demand for GMP cell banking services. The regional market is projected to expand further at 12% per year between 2024 and 2034.
- The adoption of GMP cell banking services in the United Kingdom spurred after the pandemic, and it is likely to experience a 10.7% CAGR through 2034.
Competitive Landscape for GMP Cell Banking Service Market Players
A few leading players hold a significant share of the global market and offer complete GMP-compliant services, encompassing characterization, testing, and storage. Businesses that outsource cell banking services also look for partners who have experience, resources, and a history of adhering to GMP regulations.
Recent Developments by the GMP Cell Banking Service Market Players
- In September 2022, FUJIFILM Diosynth Biotechnologies revealed that it was expanding its large-scale microbial production facility at the Billingham campus located in the United Kingdom. Fujifilm is a renowned contract development and manufacturing organization for biologics, vaccines, and advanced medicines and hopes to enter the European market with this expansion.
- In April 2022, SGS collaborated with Liveome, a drug developer based in Korea, to formulate, develop, and clinically manufacture a targeted-release formulation containing lyophilized microbial cells. Moreover, SGS, a contract manufacturing company based in the United States, is aiming to establish a cell bank to develop and produce drugs in the country.
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| Report Attribute | Details |
| Value Projection (2034) | USD 3,123.5 Million |
| Growth Rate (2024-2034) | 13.5% CAGR |
| No. of pages | 170 Pages |
| No. of Tables | 24 Tables |
| No. of Figures | 120 Figures |
Biopharmaceutical Companies Increasingly Rely on Outsourcing to CMOs
According to market analysis, there is a projected 13.9% Compound Annual Growth Rate (CAGR) in the demand for GMP cell banking services by contract manufacturing companies through 2034.
The current trend in the biopharmaceutical industry involves outsourcing specific phases of the production process to contract manufacturing organizations (CMOs). Biopharmaceutical companies find that collaborating with CMOs not only provides access to infrastructure and expertise at a reasonable cost but also proves to be a more efficient alternative to developing internal cell line banking capabilities, which can be resource-intensive.
At the Core: Efficiency and Quality Assurance Requirements of Biopharmaceutical Companies
A survey across various end-use verticals for GMP cell banking service providers reveals that biopharmaceutical companies contribute to over 70% of the total demand. The analysis suggests a CAGR of 13.3% for this segment between 2024 and 2034.
GMP cell banking services play a crucial role for biopharmaceutical companies in ensuring the consistency, quality, and legal compliance of the cell lines used in developing new drugs. Additionally, these services streamline the time required for the development and commercialization of treatments by providing ready-to-use and compliant cell banks.
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