Global tissue banking market segmented by tissue into skin, heart valves, corneas, umbilical cord; by equipment into cryopreservation, thawing, quality control and others; by application into cosmetic, therapeutic, medical research; by service into screening, serological testing and others and by region. The global tissue banking market is anticipated to record a CAGR of 12.4% over the forecast period i.e. 2019-2027.
Increasing Demand for Transplant Medicine
Regenerative medicine is the process of creating living, functional tissues in order to repair or replace damaged tissue. Tissue banking has the potential to remedy donor organ shortage crisis. Rapid development of transplant medicine along has fueled the demand for viable tissues and organs over the recent years.
Tissue banking has improved the areas of science such as bio-repository and bio-specimen science. Usage of robotic sample handling, processing and artificial intelligence along with software specifically designed for storage management in the facilities have positively impacted the tissue banking market.
North America is panned to observe substantial growth in the global tissue banking market on the back of high per capita health care expenditure the and availability of advanced health care facilities. Also, with the rising spending on health care, there has been an increased demand for new product launches and technological advancements which are anticipated to drive the tissue banking market in Europe over the forecast period.
Asia pacific is anticipated to witness a high demand for tissue banking due to increase in healthcare budget of major economies like China and India.
Middle East & Africa is expected to hold a modest share of the global tissue banking market over the forecast period due to a moderate rise in the usage of different allograft products especially in the GCC countries. Various bio banking organizations are expected to drive the tissue banking market over the forecast period. Numerous government and private organizations are working toward development of the tissue banks to address the increasing demand for tissue transplant in the region.
However, lack of availability of donors, high cost of surgery and lack of highly experienced and qualified individuals to perform the surgeries are anticipated to restrain the growth of global tissue market over the forecast period.
The report titled “Tissue Banking Market: Global Demand Analysis & Opportunity Outlook 2027” delivers detailed overview of the Global tissue banking market in terms of market segmentation by tissue, by equipment, by application, by service and by region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model. This report also provides the existing competitive scenario of some of the key players of the global tissue banking market which includes company profiling of Thermo Fisher Scientific Inc., Brooks Automation, Inc., VWR Corporation, BioLife Solutions, Inc., PHC Corporation, Custom Biogenic Systems, Inc., Bluechiip Limited, Merck KGaA, Beckman Coulter, Inc. and Hamilton Company. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global tissue banking market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.