Global Tissue Banking Market to Reach US$ 2.8 Billion by 2027, Impelled by Rising Prevalence of Tissue Injuries

December 19, 2022

According to the latest report by IMARC Group, titled "Tissue Banking Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027," the global tissue banking market size reached US$ 1.5 Billion in 2021. Tissue banking refers to the system that deals with the processing, harvesting, storing and transporting of allograft tissues for clinical use. This system is run by skilled personnel and technical experts who focus on preserving the living tissues for a prolonged period of time for later usage. The tissues obtained are generally preserved in low-temperature storage containers that are widely used for replacing and healing the affected or lost tissues of the patients. With the increasing awareness regarding the benefits of tissue implantation and inflating disposable income levels of individuals, there has been a significant rise in the overall tissue banking market across the globe.   

Global Tissue Banking Market Trends:

The global market is primarily driven by the growing incidences of missing or damaged tissues among the masses. This can be attributed to the rising prevalence of injuries to the spinal cord, skin from severe burns and damaged heart muscles. In addition to this, the escalating prevalence of chronic diseases among individuals is catalyzing the demand for tissue banks for the transplantation of bones, corneas and tendons. Along with this, the increasing investments by private and public agencies for continual developments in the field of tissue engineering are providing a boost to the market. Moreover, continuous technological advancements in the healthcare industry and the tissue collecting and preserving process are creating a positive market outlook. Other factors, including rapid urbanization, the rising geriatric population, the growing number of clinical trials and drug delivery procedures, continual improvements in the overall healthcare infrastructure, and extensive research and development (R&D) activities conducted by key players in the field of tissue engineering, are also positively influencing the market. On account of the aforementioned factors, the market size is anticipated to reach a value of US$ 2.8 Billion by 2027, exhibiting a CAGR of 11.9% during 2022-2027.

Market Summary:

  • On the basis of the product, the market has been segmented into equipment (cryopreservation, thawing, quality control and other equipment) and media and consumables.
  • Based on the application, the market has been classified into therapeutics, medical research and others.
  • On the basis of the tissue type, the market has been segregated into cardiovascular, lung, kidney, pancreas, liver, eye and other tissues.
  • Based on the region, the market has been divided into North America (the United States and Canada), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia and others), Latin America (Brazil, Mexico and others) and the Middle East and Africa.
  • The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market. Some of the key players include AMS Biotechnology, Beckman Coulter Inc. (Danaher Corporation), Bio-Rad Laboratories Inc., Brooks Life Sciences Inc. (Brooks Automation Inc.), Eppendorf AG, Merck KGaA, PHC Corporation, QIAGEN N.V., Sartorius AG, Taylor-Wharton, Thermo Fisher Scientific Inc., and VWR International LLC (Avantor Inc).
     

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Global Tissue Banking Market to Reach US$ 2.8 Billion by 2027, Impelled by Rising Prevalence of Tissue Injuries
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