Service providers in the global GMP cell banking services market are focusing on offering innovative services to retain market share. For instance, key players in the global GMP cell banking services market are focusing on the development of new and innovative service models and expanding the existing capacity. Providers are also adopting innovative marketing strategies to gain market share. Balancing fixed costs while offering competitive pricing is a major focus area for vendors in this market. For example, biopharmaceutical companies are focusing on outsourcing the manufacturing of biologics to the APAC region in order to reduce their manufacturing costs and thus set competitive pricing. Another strategy that key players are adopting in this market is increasing storage capacity and offering end-to-end services across all the nodes of the value chain. Companies are also entering into mergers and acquisitions as well as partnering with small biotech startups to expand service offerings, capacity and market presence globally.
In a new publication titled “GMP Cell Banking Services Market: Global Industry Analysis and Forecast, 2017–2025,” XploreMR analysts have targeted five key geographies and have observed that North America represents the most lucrative market, followed by Europe and Asia Pacific. The GMP cell banking services market in MEA is expected to record comparatively less growth due to low awareness about these services and presence of limited manufacturing facilities.
The U.S. Food and Drug Administration guidance on contract manufacturing
The U.S. Food and Drug Administration issued its first guidance for quality agreements between pharmaceutical companies and CMOs in November 2016. The following is the regulatory overview of the FDA regarding contract manufacturing.
- All manufacturing facilities to ensure compliance with cGMP regulations
- Requirement of a quality unit in pharmaceutical companies to monitor adherence to regulations by a CMO
- Various ICH guidelines have been published that are relevant to cGMP recommendations for contract manufacturing arrangements
- Requirement of quality unit activities to be in writing
Global Market Study on GMP Cell Banking Services: Mammalian Cell Type Segment Revenue Projected to Grow 3.2x by 2025 End as Compared to that in 2017Buy Now
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