Tissue Banking Market is Expected to Reach US$ 2,903.3 Million to 2026| TMR Study

The global 𝐭𝐢𝐬𝐬𝐮𝐞 𝐛𝐚𝐧𝐤𝐢𝐧𝐠 𝐦𝐚𝐫𝐤𝐞𝐭 reached a value of US$ 1,056.4 million in 2017 and is projected to nearly triple to US$ 2,903.3 million by 2026, with a robust Compound Annual Growth Rate (CAGR) of approximately 12.0% from 2018 to 2026. Factors such as increasing awareness about tissue donation, technological advancements, and a growing target patient population are anticipated to propel market growth during this period.

Moreover, the market is expected to benefit from a surge in government initiatives aimed at enhancing facilities, as well as increased strategic collaborations, mergers, and acquisitions. The expanding applications of human tissue further contribute to market expansion. Nevertheless, stringent regulatory requirements pose a significant challenge to the global tissue banking market's growth trajectory.

𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐒𝐚𝐦𝐩𝐥𝐞 𝐏𝐃𝐅:
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The expansion of the global tissue banking market can be attributed to the growing elderly population and the rising incidence of cancer, diabetes, cardiovascular diseases, and other lifestyle-related ailments. Heart disease stands as the primary cause of death across various ethnicities in the U.S., including African-Americans, Hispanics, and individuals of Caucasian descent. According to the Center for Disease Control and Prevention (CDC), approximately 610,000 individuals succumb to heart disease annually in the U.S., accounting for 1 in every 4 deaths. Among heart diseases, coronary heart disease (CHD) claims the lives of over 370,000 people each year.

Technological advancements in tissue banking are leading to the development of innovative products such as ultra-low freezers and automated freezers. These advancements enable the storage of around one billion samples worldwide at extremely low temperatures. Furthermore, there is a growing demand for the preservation of umbilical cord blood owing to the increasing prevalence of kidney diseases, lymphoblastic leukemia, lung diseases, and diabetes mellitus.

𝐌𝐚𝐣𝐨𝐫 𝐩𝐥𝐚𝐲𝐞𝐫𝐬:

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. 

𝐌𝐚𝐫𝐤𝐞𝐭 𝐒𝐞𝐠𝐦𝐞𝐧𝐭𝐬-

Product

Equipment
Cryopreservation equipment
Thawing equipment
Quality Control Equipment
Others
Media & Consumables

Tissue Type

Heart Valves
Cornea
Bone
Skin
Brain & Spinal Cord
Others

Application

Therapeutic
Cosmetic
Research & Development
Drug Discovery
Others

𝐌𝐚𝐫𝐤𝐞𝐭 𝐃𝐫𝐢𝐯𝐞𝐫𝐬 𝐚𝐧𝐝 𝐂𝐡𝐚𝐥𝐥𝐞𝐧𝐠𝐞𝐬:

Drivers:

Growing prevalence of chronic diseases.
Technological advancements in tissue banking procedures.
Increasing awareness about the benefits of regenerative medicine.

Challenges:

Stringent regulatory requirements for tissue banking.
Ethical concerns associated with tissue procurement.
High cost associated with tissue banking procedures.

𝐑𝐞𝐠𝐢𝐨𝐧𝐬 𝐂𝐨𝐯𝐞𝐫𝐞𝐝:

North America(USA, Canada and Mexico)
Europe(UK, Germany, France and the Rest of Europe)
Asia Pacific(China, Japan, India, and the Rest of the Asia Pacific region)
South America(Brazil, Argentina and the Rest of South America)
Middle East and Africa(GCC and Rest of the Middle East and Africa)

𝐀𝐜𝐪𝐮𝐢𝐫𝐞 𝐅𝐮𝐥𝐥 𝐑𝐞𝐩𝐨𝐫𝐭 𝐍𝐨𝐰:
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𝐌𝐚𝐫𝐤𝐞𝐭 𝐓𝐫𝐞𝐧𝐝𝐬:

Personalized Medicine: Rising demand for personalized therapies is driving the adoption of autologous tissue banking.

Automation: Integration of automation and robotics in tissue banking processes to enhance efficiency and accuracy.

Collaborations and Partnerships: Strategic collaborations between tissue banks, research institutions, and pharmaceutical companies to accelerate innovation and product development.

𝐅𝐮𝐭𝐮𝐫𝐞 𝐎𝐮𝐭𝐥𝐨𝐨𝐤:

The tissue banking market is expected to witness sustained growth in the coming years, fueled by advancements in biotechnology, increasing R&D activities, and expanding applications of tissue-based therapies. However, overcoming regulatory hurdles and addressing ethical concerns will be crucial for market expansion.

𝐊𝐞𝐲 𝐌𝐚𝐫𝐤𝐞𝐭 𝐒𝐭𝐮𝐝𝐲 𝐏𝐨𝐢𝐧𝐭𝐬:

Market size and growth projections.
Regional analysis highlighting key growth regions.
Segmentation analysis based on service type, sourcing type, application, industry vertical, and region.
Identification of market drivers, challenges, and trends.
Future outlook and growth prospects.

𝐁𝐫𝐨𝐰𝐬𝐞 𝐌𝐨𝐫𝐞 𝐑𝐞𝐩𝐨𝐫𝐭𝐬 𝐛𝐲 𝐓𝐌𝐑:

𝐂𝐨𝐦𝐦𝐞𝐫𝐜𝐢𝐚𝐥 𝐒𝐚𝐭𝐞𝐥𝐥𝐢𝐭𝐞 𝐈𝐦𝐚𝐠𝐢𝐧𝐠 𝐌𝐚𝐫𝐤𝐞𝐭- https://www.globenewswire.com/news-release/2022/10/11/2531707/0/en/Commercial-Satellite-Imaging-Market-to-Reach-Value-of-US-7-0-Bn-by-2031-States-TMR-Assessment.html'

𝐕𝐞𝐫𝐭𝐢𝐜𝐚𝐥 𝐈𝐧𝐣𝐞𝐜𝐭𝐢𝐨𝐧 𝐌𝐨𝐥𝐝𝐢𝐧𝐠 𝐌𝐚𝐜𝐡𝐢𝐧𝐞 𝐌𝐚𝐫𝐤𝐞𝐭
- https://www.globenewswire.com/news-release/2022/10/11/2532018/0/en/Vertical-Injection-Molding-Machine-Market-to-Gain-Value-of-US-10-6-Bn-by-2031-TMR-Study.html

𝐀𝐛𝐨𝐮𝐭 𝐓𝐫𝐚𝐧𝐬𝐩𝐚𝐫𝐞𝐧𝐜𝐲 𝐌𝐚𝐫𝐤𝐞𝐭 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡

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