Tissue Banking Market: Global Industry Size, Share, Growth, Trends, Analysis and Forecast 2018 to 2026

The latest market report published by Credence Research, Inc. “Tissue Banking Market – Growth, Future Prospects, and Competitive Analysis, 2018 – 2026” the market for tissue banking was valued at US$ 1,656.7 million in 2017 and is expected to reach US$ 3,674.5 million by 2026 for a CAGR of 9.2 per cent during the 2018-2026 forecast period.

Market Insights

The global market for tissue banking shows a successful increase in the forecast period from 2018 to 2026 due to an increase in the prevalence of heart disease, diabetes, cancer and other lifestyle diseases. New technology assessment in tissue banking technology, increased production and demand for regenerative medicines worldwide and improved tissue preservation techniques through advanced equipment, media & consumables are driving market growth during the forecast period.

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The production of high quality systems with increased costs in the equipment segment, such as cryopreservation systems, labeling and coding equipment, thawing equipment and quality control equipment, is also a key driver of overall growth. In the current scenario, tissue-banking technology has congratulated the collection of freshly frozen tissue specimens, further used for various applications such as skin repair, burn cases, repair of damaged heart muscles following a severe attack, treatment of spinal cord injury and other repair of cord tissue. These tissues in the bank play a dynamic role in the research of various disorders, diseases (cardiology, bone tissue, respiratory, kidney) and general health. 

Other key factors driving overall market demand include advancements in the smart digital biobanking industry, new technology assessment in robotic sample handling and processing technology, the use of advanced software systems used for laboratory storage management. Major industrial factors include the expansion of better storage facilities along with high-quality systems, and the increase in human tissue applications, mainly cardiac tissue, cord tissue, skin, spinal cord, and brain tissue type, contributes to the maximum revenue share during the forecast period. Rising mergers, acquisitions and strategic partnerships between private players, along with new product development in the equipment segment, are showing lucrative growth in the forecast period. The use of top services in tissue banking is growing significantly, especially in developed countries. Advanced screening and treatment of tissue specimens, tissue retrieval, serological and microbial testing is gaining traction on the market. Increased procedures for high storage and preservation in the clinical and therapeutic sectors also generate revenue globally.

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Cryopreservation in the equipment segment holds maximum share during the forecast period, due to excessive need and demand for freezers. In addition, growing advancements in R&D for tissue banking technology, implementation of in-house sample storage in laboratories, high investments in biobanks and personalized medicine is further going to spur revenue growth during the forecast period.

The increased cost of the equipment, less awareness about the treatment and management of tissue processing, lack of skilled professionals in the developing nations, are few external factors restraining the overall growth of the tissue banking market globally. Other external factors include less or no infrastructure in the developing economies, chances of tissue injury during thawing and preservation, increased regulations for medical devices by governing bodies mainly in the U.S., Europe, China, and Japan.

Key Market Movements:

  • Globally, the tissue banking market remains to exhibit a profitable growth with a CAGR of 9.2% for the period from 2018 to 2026
  • Higher technology assessment in the equipment segment is gaining traction in the market
  • Eastern Europe, Latin America, and the Asia Pacific to show promising opportunities and shows growing CAGR during the forecast period owing to rising awareness among the individuals about advanced tissue banking technology and regenerative medicines
  • Increasing number of advanced healthcare settings, easy accessibility of branded equipment along with high storage and preservation. Enhanced digital applications with top quality services and increasing healthcare spending in China, India, Mexico, Russia, Brazil, and Japan will contribute to the growth of the market during the forecast period.
  • Major players in this vertical are Beckman Coulter, Inc., BioLife Solutions, Inc., Thermo Fisher Scientific Inc.KGaA, Brooks Automation, Inc., Bluechiip Limited, VWR Corporation, PHC Corporation, Custom Biogenic Systems, Inc., Merck, Hamilton Company, Biostorage Technologies, Inc. and others

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 [Note: Our Free Complimentary Sample Report Accommodate a Brief Introduction To The Synopsis, TOC, List of Tables and Figures, Competitive Landscape and Geographic Segmentation, Innovation and Future Developments Based on Research Methodology are also Included]

Report Scope by Segments

By Equipment Type

  • Cryopreservation systems
  • Labeling and Coding Equipment
  • Thawing Equipment
  • Quality Control Equipment
  • Alarming and Monitoring Systems

By Application Segment

  • Clinical/Therapeutic
  • Medical Research
  • Cosmetics

By Tissue Type Segment

  • Heart Valves
  • Cornea, Bone
  • Skin
  • Brain & Spinal Cord
  • Cord Tissues

By Geography Segment

  • North America (the U.S., Rest of North America)
  • Europe (U.K., Germany, France, Rest of Europe)
  • Asia Pacific (China, Japan, India, Rest of Asia Pacific)
  • Rest of World (Middle East & Africa (MEA), Latin America)

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