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The latest report by IMARC, titled “
Tissue Banking Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2 028
” " the global tissue banking market size reached US$ 1.6 Billion in 2022.
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.
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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$ 3.1 Billion by 2028, exhibiting a CAGR of 11.65% during 2023-2028.
Looking forward, the market value is projected to reach a strong growth during the forecast period (2023-2028).
Market Summary:
Breakup by Product:
• Equipment
• Cryopreservation Equipment
• Thawing Equipment
• Quality Control Equipment
• Others
• Media and Consumables
Breakup by Application:
• Therapeutics
• Medical Research
• Others
Breakup by Tissue Type:
• Cardiovascular Tissue
• Lung Tissue
• Kidney Tissue
• Pancreas Tissue
• Liver Tissue
• Eye Tissue
• Others
Breakup by Region:
• North America
• United States
• Canada
• Asia-Pacific
• China
• Japan
• India
• South Korea
• Australia
• Indonesia
• Others
• Europe
• Germany
• France
• United Kingdom
• Italy
• Spain
• Russia
• Others
• Latin America
• Brazil
• Mexico
• Others
• Middle East and Africa
Competitive Landscape with Key Players:
• 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.
• VWR International LLC (Avantor Inc)
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