CELL BANKING OUTSOURCING MARKET ANALYSIS

Market Challenges And Opportunities

However, high cost associated with storing these cells in cell banks is a major challenge faced by this market. On an average, storage of cells account for up to US$ 2,500 annually, which in turn, is expected to hamper expansion of the cell banking outsourcing market. Furthermore, some legal challenges associate with banking a variety of cells, especially considering stem cells banking, are expected to restrain market growth. For instance, in October 2017, the Indian government banned cell banking of biological products, except umbilical blood, due to lack of evidence of it being a therapeutic agent. Storing of one’s own cord blood is still illegal in Italy and France. There is also a problem of reimbursement for cell banking. For instance, in the U.S., insurance companies provide reimbursement for cord blood banking only when medically necessary. This limits the choice of new parents to store such cells for future use, in turn hindering growth of the cell banking outsourcing market.