Zion Market Research has published a new report titled “Tissue Banking Market by Tissue Type (Cardiovascular Tissue, Lung Tissue, Kidney Tissue, Pancreas Tissue, Liver Tissue, Eye Tissue And Other Tissues) and by Equipment Type (Cold Storage Equipment, Tissue Processor, Freezers, Thawing Equipment, Labeling & Coding Equipment, Reagents & Chemicals, Specimen Collection and Accessories) for Human and Research Application - Global Industry Perspective, Comprehensive Analysis and Forecast, 2016 – 2022”. The global tissue banking market was valued at around USD 3.39 billion in 2016 and is expected to reach approximately USD 5.93 billion by 2022, growing at a CAGR of around 10% between 2016 and 2022.
The tissue is the group of specialized cells associated with extracellular substance to perform similar structure and function. Histology is the branch of science which deals with the microscopic study of tissue structure and function. Four primary types of tissues include epithelium tissue, connective tissue, muscle tissue, and nervous tissue. Tissue banking is a well-known application of biotechnology and tissue banking is the process of processing, harvesting, distribution and storage of transplantable human organs. Tissues derived from the human body are used to replace and repair the lost or diseased tissues of living human body. The common tissues being stored and used are skin, cornea, cartilage, bones, fascia, joints, tendons and heart valves from the human cadaver. Tissue banking is also known as biobanks, bio-repositories or bio-resources.
Tissue banking market is mainly driven by increasing prevalence of chronic diseases. Chronic diseases are the leading cause of deaths across the world, according to World Health Organization, approximately 60% deaths due to chronic diseases. Tissue banking market is propelled by the rapid change in the healthcare industry, increasing dynamic drug discoveries and pressure driving medical device business decisions. Medical device industry is under growing rapid development due to increasing investment by the manufacturer and future-oriented government initiatives in developing countries. Moreover, increasing awareness about tissue & blood donation and rising success in clinical trials are continuously responsible for the growth of tissue banking market. However, bioethical issues in clinical trials and cost for tissue preservation may hamper the growth of tissue banking market. Nonetheless, untapped market and increasing advancement in tissue banking are projected to generate new opportunities in coming years.
Based on the tissue type, the market of tissue banking has been segmented into cardiovascular tissue, lung tissue, kidney tissue, pancreas tissue, liver tissue, eye tissue, and other tissues. In 2016, eye tissue segment dominated the market of tissue banking with major market share. In the forecast period, skin tissue segment is expected to exhibit noticeable growth due to demand for eye tissue products and increasing geriatric population.
Based on equipment type, the market is segmented as cold storage equipment, tissue processor, freezers, thawing equipment, labeling & coding equipment, reagents & chemicals, specimen collection, and accessories. Freezers and cold storage equipment segment are the largest market segments of tissue banking market. Freezers segment covers the considerable amount of market share of global tissue banking market due to increasing advancement in tissue preservation.
Based on application, tissue banking market has been bifurcated into the human application and research application. With high market share, human application segment market is leading the market of tissue banking. Research application is expected to generate new opportunities during the forecast period due to increasing investment in research and development for tissue banking.
Based on the geography, the tissue banking market has been segmented into North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. North America is dominating the tissue banking market due to increasing prevalence chronic diseases. In Europe, the market has been dominated by U.K. due to increasing awareness of tissue and blood donation. Asia-Pacific is expected to show noticeable growth during the forecast period due to increasing initiative by the new government towards healthcare infrastructure development.
Key operating players in tissue banking market are like Backman Coulter Inc., Thermo Fisher Scientific, BioLife Solutions, Inc., Taylor-Wharton, Custom Biogenic Systems, Inc., Sigma-Aldrich Corporation, Panasonic Biomedical and Brooks Automation.
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