A cell bank, also known as a blood bank, is a facility that stores cells of certain specific genetic makeup for medical needs or experimental treatment. They usually contain large numbers of primary cell material which is used for many different projects. These projects can range from studying the properties of new medicines to finding out the structure of DNA in humans. There are many uses for a cell bank and they are constantly in need of additional staff and funding.
Many research facilities across the world utilize cell banking. This is particularly true for those involved with studying diseases that have no cure at the moment. In such cases, it is necessary to test samples of cells to ensure that they are normal before initiating treatments or trying to find out how they might affect the human body in general. These banks also make it easier for research scientists to collect these cells and make them available for testing purposes. It is also useful for those who work with diagnosing cancer patients, as it helps them find out what is going on with their patients and how these cells may affect them.
The increasing number of cell therapies in the world is the main factor that is driving the growth of the global cell banking outsourcing market. For instance, according to Parent's Guide to Cord Blood Foundation, expects that the total inventory unit of family cord blood banks in the globe is around 6.75 million. Stem cell therapies are used for treating over 100 diseases. Moreover, the increasing adoption of acquisitions and collaboration strategies by key market players along with increasing development and research in several therapy areas such as treating immunotherapy are being used for the treatment of critical diseases such as cancer are also fueling the growth of the global cell banking outsourcing market.
In the case of HIV patients who often suffer from what is known as opportunistic infections that target the immune system as they attempt to fight off the infection. If the immune system is strong, it can easily fend off these viruses, but it becomes weaker when it is already infected. Cell banking allows doctors to store healthy cells, so when they are needed, they can be immediately rushed to a patient's location. However, the high cost of storing these cells in various cell banks is the main challenge that is faced by the global cell banking outsourcing market.
With the increased expansion of blood banks in the region, North America is witnessing high demand in the global cell banking outsourcing market. For instance, according to LifebankUSA, there are 20 public cord blood banks in the United States. Moreover, the increasing advancements in the healthcare sector are also aiding the market growth. Owing to these factors, there have been significant industrial developments in the global cell banking outsourcing market. For instance, in January 2018, Biotechnology firm LifeCell introduced a new community stem cell banking called Baby Cord Share in India.