Tissue Banking Market Expected To Grow At A Rapid Rate Reaching Almost USD 5.93 Billion By 2022

Backman Coulter Inc., Brooks Automation, Thermo Fisher Scientific, Panasonic Biomedical, BioLife Solutions, Inc., Taylor-Wharton, Custom Biogenic Systems, Inc., and Sigma-Aldrich Corporation are the key participants in the tissue banking market. The active participation of these players is likely to boost the tissue banking market growth. The global tissue banking market, in 2016, was valued at nearly USD 3.39 Billion and by 2020’s end is likely to surpass nearly USD 5.93 Billion, growing at a CAGR of nearly 10% between 2016 and 2022.

This review is based on a report by Zion Market Research, 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”- https://www.zionmarketresearch.com/report/tissue-banking-market 

Tissue Banking Market Expected To Witness Growth Owing To Increasing Awareness About Blood And Tissue Donation

Increasing awareness of blood and tissue donation is the key factor contributing to the growth of tissue banking, as per Zion Market Research analysts. Every day, 22 individuals die on an average while awaiting organ transplantation. Furthermore, after every 10 Minutes, a new entry is being added to the waiting list for organ transplantation. In addition, increasing chronic diseases, improvements in healthcare services, and government initiatives are poised to impact the tissue banking market growth is a positive manner. For instance, the foremost tissue bank was established by C Vijaya Baskar (India’s Health Minister) in January 2018 at the Government Kilpauk Medical College Hospital, thus supporting the growth of the tissue banking market. Conversely, bioethical issues and cost of tissue preservation are few factors anticipated to hamper the tissue banking market growth. However, new sophisticated techniques for tissue banking and unexploited market are anticipated to bring up new opportunities for the tissue banking market in the forecast period.

Cold Storage Equipment Segment To Dominate The Tissue Banking Market In The Near Future

The tissue banking market, based on equipment type, is bifurcated into reagents & chemicals, cold storage equipment, thawing equipment, specimen collection, labeling & coding equipment, tissue processor, freezers, and accessories. The two largest segments of the global tissue banking market are freezers and cold storage equipment. More than 20% is held by the freezers segment of the global tissue banking market. Being provided with a temperature chart recorder and digital temperature display along with microprocessor controller makes these freezers just apt for tissue banking. Cold storage equipment is among the budding segments with more than 15% revenue contribution in 2016, propelling the growth of the market.

The tissue banking market, based on application type, is divided into the human application and research application. The human application segment governed the tissue banking market in 2016 with a profitable market share. Additionally, the research application segment in the tissue banking market is expected to grow at a significant rate during the forecast period on account of increasing expenditure by the manufacturer in R&D.

This report segments the tissue banking market as follows:

Tissue Banking Market: Tissue Type Analysis

• Cardiovascular tissue
• Lung tissue
• Kidney tissue
• Pancreas tissue
• liver tissue
• Eye tissue
• Other tissues

Tissue Banking Market: Equipment Type Analysis

• Cold storage equipment
• Tissue Processor
• Freezers
• Thawing Equipment
• Labeling and coding Equipment
• Reagents and Chemicals
• Specimen Collection
• Accessories

Tissue Banking Market: Application Type Analysis

• Human Application
• Research Application

Tissue Banking Market: Regional analysis

• North America
  • U.S.
• Europe
  • UK
  • France
  • Germany
• Asia Pacific
  • China
  • Japan
  • India
• Latin America
  • Brazil
• Middle East and Africa

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