Global Tissue Banking Market

Global Tissue Banking Market Overview:

The global tissue banking market is estimated to reach USD 4.3 billion by 2030, growing at a CAGR of 10.56% during the forecast period, 2022-2030. It was valued at USD 1.4 billion in 2022. A tissue bank is an establishment that fetches and recovers human cadaver tissue for medical research, education, and allograft transplantation. A tissue bank may also belong to a place where biomedical tissue is stored under cryogenic conditions and is generally used more clinically. The common tissue types found in tissue banking are bones, ligaments, tendons, heart valves, skin, veins, cartilage, and the eye. The sources of tissue banking are the live donor and deceased donors. Additionally, tissue is used in skin replacement, limbal stem cell replacement, bone marrow and immunological replacement, regenerative medicine, and other purposes. Moreover, Tissue banking is a form of biological insurance where parents bank their baby’s stem cells for future therapies. The main benefits of banking cord tissue are to have different types of cells and more stem cells from the same child. Translational biomedical research has faith in the availability of human tissue to explore disease etiology and prognostic factors, intending to develop better-targeted treatments.

Global Tissue Banking Market Insights

The significant factors are the growing demand for tissue banking, regenerative medicine, bio-banking, and the development of drugs. Moreover, the increasing improvement in tissue banking leads to the rising progress in medical analysis, research laboratories, and pharmaceutical industries with the advancement in storage processes and conditions. Additionally, the increasing diseases such as neurological & cardiovascular disorders, diabetes, cancer, and other diseases will spur the demand for tissue banking in the health care industry. Furthermore, the growing public-private funding for tissue storage activities and the easy maintenance of data through bioinformatics is expected to witness remarkable growth of tissue banking. Moreover, the increasing need for the storage of organs for transplant and the ability to treat debilitating conditions such as heart diseases, Parkinson’s diseases, lung cancer, and injuries to bones and cartilage are expected to propel the demand for tissue banking over the coming years. Furthermore, regulatory norms by the government or FDA for the storage of tissues and approval of new products are fueling the demand for tissue banking in the healthcare market.

Growth Driver

Tissue banking is the activity of harvesting, processing, storage, and distribution of transplantable human tissues. Tissues salvage from the human body is used to repair or replace the diseased or lost tissues of the living human body and save many precious lives. Bio-banking of normal tumor cells and stem cells from bone marrow, umbilical cord, and adipose tissue is increasingly used by pathologists and researchers to maintain cell lines and bioengineering. From quality management and legal & regulatory approvals & aspects to clinical grafting, tissue banking became an advanced therapy. Moreover, Private newborn stem cell banks are planning in exploring the application of cord blood in the evolving field of immunotherapies and more than minimally manipulated products due to the massive advantage of cord blood in the treatment of over 80 diseases, including hematologic malignancies and disorders, certain metabolic disorders and congenital immunodeficiency disorders.

Tissue Type Segmental Analysis

Based on the tissue type, the global tissue banking market is segregated into connective tissue, epithelial tissue, muscle tissue, and nervous tissue, including skin, blood, kidney, pancreas, liver, eye, bone, and lymph tissues. The blood tissue segment is estimated to witness the highest growth over the analysis timeframe due to the rise in donations and increasing illnesses such as thalassemia and sickle cell disease and is used to make products such as clotting attributes for people with hemophilia. The bone tissue will grow significantly due to increasing age-related bone diseases and bone marrow transplants.

Products Segmental Analysis

The global tissue banking market is divided into equipment, media, and consumables based on the product. Furthermore, the equipment segment is divided into storage systems, freezers, thawing equipment, alarming & coding equipment, and labeling & coding equipment. The equipment segment held a significant market share in 2021 and will gain maximum market revenue by 2030. It is due to associated benefits such as high culture integrity, easy maintenance, and quality control. The Consumables segment is poised to witness significant growth over the forecast period due to increasing demand for bio-banking products and inventory to secure samples.

Application Segmental Analysis

The global tissue banking market is divided into cosmetic, research & development, drug discovery, and therapeutic based on the application. The therapeutics segment is to be the highest revenue share for tissue banking during the forecast period. The segment’s revenue is primarily attributed to the involvement of different types of grafting& allografts, cell therapy, and treatment of heart disorders using heart valves. The drug discovery will witness a lucrative growth rate in the estimated period due to the increasing development of regenerative medicine and new drugs.

Region Segmental Analysis

The global tissue banking market is segmented into North America, Europe, Asia Pacific, South America, and Middle East & Africa. North America is estimated to project considerable growth over 2022-2030. Due to the advent of technology, leading industry players are offering innovative products and increasing donations among medical personnel. The Asia Pacific will produce a prominent share of the tissue banking market by 2030. Due to the increasing government initiatives and continually improving healthcare infrastructure in the region, mounting healthcare expenditures in up growing countries such as India and China.

Competitor Analysis

Companies such as Atlanta Biologics Inc, BioLife Solutions Inc, BioCision, Cesca Therapeutics, Core Dynamics Ltd, Custom Biogenic Systems, Lifeline Scientific, Sigma-Aldrich Co, Thermo Fisher Scientific Inc, Taylor-Wharton, Panasonic Corporation, QIAGEN, and VWR International LLC are the key players in the global tissue banking market.

Key Stakeholders

• Market research and consulting firms
• Industry associations
• Global tissue banking equipment & consumables manufacturing firm
• Research organizations and consulting companies
• Organizations, associations, and alliances related to tissue banking
• Regulatory bodies
• Suppliers
• Retailers

Recent Development

November 2022: the Department of Health (DoH), Abu Dhabi, the controller of the healthcare sector in the United Arab Emirate, and United States-based Eversight, one of the non-profit eye banks in the world, partnered to launch the world’s first Eye and Tissue Bank. June 2022: LifeLink Tissue Bank established the Birth Tissue Donation Program, the first of its type in the Tampa Bay area, in partnership with Tampa General Hospital (TGH).

The objective of the research

• Market modeling commences with identifying a target market where historical data exists. A Market can include prediction problems, economic factors, analyzing customer behavior, and identifying new patterns from past events, which helps our client to have deep dive into the market.
• Product analysis involves examining product features, costs, availability, quality, and other aspects. Product analysis is conducted to understand potential buyers and measure competition in the market.
• Market Trend and Economic Factors Analysis helps assess potential changes to an economy’s inflation rate, taxes, interest rates, exchange rates, trading regulations, and excise duties that can or have a major effect on the target market.
• Market Segmental Analysis defines an in-depth scenario of the target market by grouping consumers into naturally existing created segments of consumers who share similar product choices or characteristics.
• The geographical mapping approach helps our patients to understand national or international markets because the different patients in different regions have different needs, wants, and cultural characteristics that can specifically target.

Market Modelling

By Tissue Type

• Connective tissue
• Epithelial tissue
• Muscle tissue
• Nervous tissue

By Technology

• Equipment
• Media
• Consumables

By Application

• Cosmetic
• Research & Development
• Drug Discovery
• Therapeutic

By Region

• North America
• Europe
• Asia Pacific
• South America
• Middle East & Africa

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