Global Tissue Banking Market Expected To Reach XX Million By 2025
Tissue Banking Market Overview According to a new report published by Reports Monitor titled, “Tissue Banking Market by Product, Services, and Application: Global Opportunity Analysis and Industry Forecast, 2017–2025,” the tissue banking market was valued at XX million in 2016, and is projected to reach at XX million by 2025, growing at a CAGR of XX% from 2017 to 2025.
Earlier availability of enough amounts of tissues at the time of requirement was the major challenge faced by clinicians. Therefore it provoked clinicians to explore techniques to preserve the living tissue for long duration for later use thus the foundation of tissue banking was rooted in early twentieth century. Tissue banks are the organizations that facilitate the collection, storage and distribution of human tissue specimens. A tissue bank also refers to place where biomedical tissues are stored under controlled environmental conditions and usually used for medical research purpose. Tissues are integral part of human body and play vital role in research into various disorders & diseases and in general healthcare.
Increasing research and developmental activities, growing prevalence of chronic disease compels the need for tissue banking driving the growth of the market. Regenerative medicine is highly potential area in medical field now days that boost the market growth. Increasing demand for human tissue and blood products research and various other purposes along with development in biobanking technology further leads the growth of the market. Besides, government supportive activities and burgeoning healthcare sector is anticipated to add up to the market expansion. However, regulatory compliances, problems regarding stable and efficient storage, lack of donations and less awareness among population might hinder the growth of the market. North America tissue banking market growth is led by well-developed healthcare facilities & great access, increasing number of baby boomers, increasing awareness and advancement in biobanking technology.
The global tissue banking market is segmented on the basis of products, services, applications and region. In terms of product the market is divided into equipment, consumables, media and accessories. Depending upon services, the market is categorized into screening, tissue retrieval, testing, processing, quarantine storage and other services. Considering application, the market is spilt into regenerative medicine, biobanking, drug discovery, therapeutics and other applications.
Competitive Landscape Panasonic Healthcare Co., Thermo Fisher Inc., Custom Biogenic Systems Inc., Worthington Industries, Inc. and Brooks Automation are some of the major operators running in the market. Recently Ontario has expanded the province’s system for collecting, storing and distributing donated tissues to better serve patient who need heart valve, skin, bone tissue transplants.
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