Global Tissue Banking Market: Overview
Tissue banking refers to recovery and collection of human cadaver tissue for medical purposes. The tissues are stored under cryogenic conditions for keep them safe and usable. Technological developments, growing geriatric pool, and increasing blood donations are collectively expected to fuel the growth of the global tissue banking market in the coming years.
The research report on the global tissue banking market offers a detailed outlook on the market dynamics. The market has been assessed using Porter’s five forces analysis and SWOT analysis to determine the various factors likely to influence the trajectory of the overall market.
Global Tissue Banking Market: Segmentation
In terms of application, the global tissue banking market is segmented into clinical and therapeutic, drug discovery, and research and development. Of these, the freezers segment held a dominant share in the global market in 2015. This application is projected to witness a high demand in the coming years due to a growing need for organ transplants, regenerative medicines, blood transfusions, vaccines, and cellular therapies. The segment also stands to benefit from the exponential population growth, increasing expenditure on healthcare, and increasing usage of a wide range of tissues for research and development purposes.
The demand for freezers is expected to improve in the coming years as they are being developed to offer temperatures as low as -86°C for storage of tissues on a long-term basis. The demand for storage of tissues will continue to rise in the coming years due to widespread of chronic diseases that are likely to propel import and export of tissues.
Global Tissue Banking Market: Regional Outlook
Geographically, the global tissue banking market is segmented into Asia Pacific, Europe, North America, the Middle East and Africa, and Latin America. Over the past few years, North America has held a dominant position in the global market as region has a well-established healthcare facility and access, which has allowed a high rate of diagnosis of various diseases. Thus, awareness and diagnosis of various diseases such as cancer, diabetes, and cardiovascular conditions in North America has propelled the region’s growth over the past few years.
Europe followed North America’s lead with government initiatives such as Cells Directives (EUTCD) and the European Union Tissues. This move is aimed at improving the responsiveness of safety and quality standards for human cells and tissues across the region. Meanwhile, Asia Pacific is also expected to offer lucrative opportunities for growth to the global market due an exponentially growing patient pool, improving disposable incomes, and robust government initiatives to improve healthcare facilities.
Key Players Mentioned in the Report are:
The important leading players operating in the global tissue banking market are Taylor-Wharton, Sigma-Aldrich Corporation, Backman Coulter Inc., Custom Biogenic Systems, Inc., Panasonic Biomedical, BioLife Solutions, Inc, and Brooks Automation.
The global tissue banking market is segmented based on:
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