Tissue Banking Market Challenges with Forecast to 2028 with Top Players AbD Serotec, AMS Biotechnology, BioLife Solutions, Beckman Coulter, BioCision

Tissue banking is the method of harvesting, processing, storage, and distribution of transplantable human tissues. Tissues retrieved from human body are used to repair or replace the diseased or lost tissues of living human body. The common tissues being harvested and used are cornea, bones, fascia, heart valves, skin, cartilage, joints, tendons, and duramater from human cadaver.

The global tissue banking market size was valued at US$ 1.04 billion in 2017 and is expected to witness a CAGR of 10.8% over the forecast period (2018 – 2026).

According to University of Texas Southwestern Medical Center 2018 report, about 450,000 Americans underwent tissue transplants to improve or save their lives and nearly 45,000 corneal transplants were done to restore sight. As per the same source, over 300,000 bone grafts were expected to be used in the treatment of degenerative bone diseases, malignancies, and traumatic injuries. Demand for other tissue such as heart valves, and venous and connective grafts also have increased. Heart valves are frequently utilized in pediatric surgeries, even in infants. According to Ovarian Cancer Canada (OCC), 2017, the OCC Tissue Banking Network collects samples from 800 to 1,000 women with ovarian cancer each year. In 2016, around 1,409 women with gynecological cancers gave tissue, resulting in over 7,000 samples being collected, processed, and banked by the Network.

Request A Sample Copy:
https://www.coherentmarketinsights.com/insight/request-sample/2600

Tissue Banking Market Restraints

Tissue banking organization is a complex system and needs high technical expertise and skilled personnel for proper functioning in a dedicated facility. Minor errors in the established protocol can lead to loss of expensive tissues, harm to recipients as well as can increase risk of transmission of deadly diseases and tumors. Dearth in tissue availability is also a major factor hindering growth of the tissue banking market. According to Organ Procurement and Transplantation Network (OPTN), in 2016, over 119,000 men, women, and children await lifesaving organ transplants in the U.S., and over 8,000 people die each year due to lack of required organs.

Tissue Banking Market - Regional Insights

On the basis of region, the global tissue banking market is segmented into North America, Latin America, Europe, Asia Pacific, Middle East, and Africa. Europe tissue banking market is expected to generate significant revenue share during the forecast period, owing to increasing government support. For instance, NHS Blood and Transplant (NHSBT) is a special health authority with responsibility for blood, organ, and tissue donation within the U.K.

Asia Pacific tissue banking market is anticipated to grow at the highest CAGR during the forecast period, owing to initiatives by government to fulfil rising demand and supply gap for tissue banking. In 2017, National Biomaterial Centre (National Tissue Bank), was inaugurated at New Delhi, India, which aims to fill the gap between demand and supply of tissues. The center will also provide quality assurance in the availability of various tissues. According to Health Ministry of India, the national level tissue bank will fulfill the demands of tissue transplantation including activities for procurement, storage, and fulfill distribution of biomaterials.

Key players operating in the global tissue banking market include AbD Serotec (a Bio-Rad company), AMS Biotechnology Limited, BioLife Solutions, Inc., Beckman Coulter, Inc., BioCision LLC, BioStorage Technologies, Inc., Custom BioGenic Systems, Eppendorf AG, EMD Millipore Corporation, Fisher BioServices, Inc., Genzyme Corporation, Hamilton Company, Merck KGaA, PHC Corporation, and Teva Pharmaceutical Industries Ltd.

Download the PDF brochure:
https://www.coherentmarketinsights.com/insight/request-pdf/2600

About Coherent Market Insights:
Coherent Market Insights is a prominent market research and consulting firm offering action-ready syndicated research reports, custom market analysis, consulting services, and competitive analysis through various recommendations related to emerging market trends, technologies, and potential absolute dollar opportunity.

Contact Us:
Mr.Shah
Coherent Market Insights
1001 4th Ave,
#3200
Seattle, WA 98154
Tel: +1-206-701-6702
Email:sales@coherentmarketinsights.com

This release was published on openPR.