CELL BANKING OUTSOURCING MARKET ANALYSIS
Cell Banking Outsourcing Market – Regional Insights
The U.S. is expected to drive growth of the cell banking outsourcing market during the forecast period. The U.S. recorded over 1 million stem cell donors in 2016, according to a report by World Marrow Donor Association (WMDA). Increasing number of ongoing research and development projects in the domain of gene therapy, cell therapy, and biological products in the country are also boosting market growth. Cells are used to express different proteins such as antigen, anti-bodies, and to utilize viruses to produce live attenuated and inactivated vaccines, thus cell banking is increasingly being used as an essential part of the development of biologics. Regions such as Asia Pacific are expected to witness significant growth due to increasing awareness among new parents about benefits of storing umbilical cord blood of their new born children.
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