Market Trends of Cell Banking Outsourcing Industry
Induced Pluripotent Stem Cell Banking Segment is Expected to Hold a Major Share in the Market Studied.
Human pluripotent stem cells, such as induced pluripotent stem cells (iPSCs), provide unprecedented opportunities for cell therapies to treat intractable diseases and injuries. iPSC is created from skin or blood cells reprogrammed into an embryonic-like pluripotent state. It allows the generation of an infinite supply of any human cell required for therapeutic applications.
The pluripotent stem cell banking segment is expected to witness significant growth in the cell banking outsourcing market over the forecast period owing to factors such as the rising adoption of iPSC for treating cancers and growing product launches.
According to an article published in Stem Cell Research in February 2021, pluripotent stem cell research and innovation are increasingly employed to model development and disease, conduct drug testing and toxicological analyses, and generate cellular therapeutic solutions. Additionally, as per an article published in Dovepress in January 2021, it was observed that the ability of cancer stem cells to silence cell surface signals could help the immune system. It can recognize tumor locations and prevent tumor cargo from adhering to healthy cells, thus preventing their transformation. In addition, as per the same source, induced pluripotent stem cells (iPSCs) can be used to immunize and vaccinate people against tumor cells in the future due to surface-antigen similarity between iPSCs and cancer cells. Thus, increasing research studies related to iPSCs are expected to increase segment growth over the forecast period.
Furthermore, the rise in funding for iPSC research is also expected to propel the segment growth. For instance, according to the data published by NIH, in May 2022, the government funded an estimated USD 740 million to support the research and development of induced pluripotent stem cells in the United States in 2022, compared to USD 713 million in 2021. Such a huge investment in iPSC is anticipated to increase its adoption, thereby driving the demand for banking services.
Moreover, the growing company provides induced pluripotent stem cell services to companies and other research institutes for clinical research, contributing to the segment growth. For instance, in September 2021, I Peace, Inc. is planning to launch its clinical-grade personalized iPSC banking service in the United States. This launch assists the company in expanding its stem cell banking services with its novel system technology. It is how to massively and simultaneously produce clinical-grade iPSCs from many donors in a single facility. In addition, the company is also planning to produce up to a few thousand lines of clinical-grade iPSCs in a year by 2025.
Therefore, owing to the factors above, the studied segment is expected to grow over the forecast period.
North America is Expected to Hold the Significant Market Share Over the Forecast Period
North America is expected to hold a significant market share over the forecast period. It is due to factors such as the rising prevalence of chronic diseases, increasing development of cell therapy or gene therapy-based products, growing research funding for stem cells, and the presence of key market players.
The rising number of stem cell-based research studies for treating various chronic diseases, such as type 1 diabetes (T1DM), Parkinson's disease, amyotrophic lateral sclerosis, Alzheimer's disease, heart disease, and others, is the key factor driving the segment's growth. For instance, as per an article published in Stem Cell Research and Therapy in July 2022, it was observed that mesenchymal stem cells (MSCs) are the most promising. It can develop into dopaminergic neurons and release neurotrophic factors, thus treating neurodegenerative illnesses. Also, according to an article published in Frontiers in Endocrinology in March 2022, it was observed that stem cells could effectively cure T1DM by restoring immunotolerance and maintaining islet-cell activity. Stem cell transplantation is one of the most promising alternatives for treating T1DM. Thus, such research studies are anticipated to increase the adoption of stem cell-based therapies and drugs for treating various diseases. It, in turn, is anticipated to fuel the demand for cell banking services, bolstering the market growth.
The increasing number of stem cell research studies and their related funding are also contributing to the segment's growth. For instance, according to the data published by NIH, in May 2022, about USD 2,279 million was funded by the government for stem cell research in 2022 in the United States, compared to USD 2,186 million in 2021. These types of funding are anticipated to increase the development and availability of effective stem cell medicines for treating various chronic diseases among the population, thereby propelling market growth.
Furthermore, the growing number of companies manufacturing banking services centers and providing cell banking outsourcing services in the region is also contributing to the market growth. For instance, in September 2021, STEMCELL Technologies launched human pluripotent stem cell (hPSC) characterization and banking services in partnership with WiCell. These services provide researchers with comprehensive cell quality assessments and enable them to generate cell banks using standardized practices.
Therefore, owing to the factors above, the studied market is expected to grow over the forecast period.
