The tissue banking market involves the storage of human tissues for future therapeutic use. Tissue banking provides an invaluable resource for transplantation by ensuring a readily available supply of graft material.
Tissue banking allows storage of tendons, ligaments, skin, bone, and cartilage for future use in repairing damaged tissues. Tissue grafts are widely applied in orthopedic, dental and reconstructive surgeries. Banked tissues help reduce costs and waiting times associated with identifying suitable donors. The increasing prevalence of chronic diseases and accidents has augmented demand for tissue replacement therapies worldwide.
Market key trends:
The increasing adoption of regenerative medicine therapies is driving growth of the tissue banking market. Regenerative medicine utilizes banked tissues and cells to repair, restore or replace damaged cells and tissues. Technological advancements in cryopreservation techniques have improved long term viability of stored tissues. Researchers are developing innovative methods to 3D print complex living structures using banked cells and tissues. This is expected to open new avenues for tissue engineering and transplant procedures over the forecast period.
Segment Analysis:
The global tissue banking market is dominated by the skin tissue segment. This is because skin is the largest organ of the human body and collection and storage of skin tissues helps in treating severe burns, chronic wounds, and other skin disorders. Skin tissues are mainly collected from donations and used extensively in surgeries involving skin grafts.
Key Takeaways:
The Global Tissue Banking Market Demand is expected to witness high growth over the forecast period of 2023 to 2030. With an estimated market size of US$ 1.81 Bn in 2023, the market is projected to reach over US$ 3.5 Bn by 2030, growing at a CAGR of 10%.
Regional analysis:
North America holds the largest share in the global tissue banking market currently. Major tissue banks in countries like the US and Canada along with availability of advanced technologies drive the growth of the regional market. However, Asia Pacific region is expected to grow at the fastest pace during the forecast period owing to increasing healthcare expenditure, rising patient awareness, and improving healthcare infrastructure in emerging economies of China and India.
Key players:
Key players operating in the tissue banking market are 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.
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