Global Tissue Banking Market - Snapshot

Expansion of the global tissue banking market is attributed to the rising geriatric population and increasing prevalence of cancer, diabetes, cardiovascular diseases, and other lifestyle diseases. Heart disease is the leading cause of death for people of most ethnicities in the U.S., including African-Americans, Hispanics, and Caucasian-descent. According to Center of Disease Control and Prevention, about 610,000 people die due to heart disease in the U.S. every year, i.e. 1 in every 4 deaths. Coronary heart disease (CHD) is a highly common type of heart disease, killing over 370,000 people annually. Technological advancements in the field of tissue banking are resulting in new and innovative products such as ultra-low freezers and automated freezers, which can store approximately one billion samples, worldwide, under very low temperature. Demand for umbilical cord blood preservation has increased due to increasing prevalence of kidney diseases, lymphoblastic leukemia, lung diseases, and diabetes mellitus.

Global Tissue Banking Market

The global tissue banking market was valued at US$ 1,056.4 Mn in 2017 and is anticipated to reach nearly US$ 2,903.3 Mn by 2026, expanding at a CAGR of around 12.0% from 2018 to 2026. Increase in awareness for tissue donation, technological advancements and target patient population is likely to fuel the global tissue banking market from 2018 to 2026. Surge in government initiatives to promote better facilities, increase in strategic collaborations along with mergers and acquisitions, and rise in applications of human tissue are expected to drive the global tissue banking market. However, stringent regulatory requirements is a major factor restraining the global tissue banking market.

The global tissue banking market can be segmented based on product, tissue type, application, and geography. In terms of product, the global tissue banking market has been classified into equipment and media & consumables. The equipment segment is further sub-segmented into cryopreservation equipment, thawing equipment, quality control equipment, and others. The equipment segment is likely to hold major share of the market by the end of the forecast period. Increasing product development and rising mergers and acquisitions are expected to drive the market during the forecast period. Based on tissue type, the global tissue banking market has been segregated into heart valves, cornea, bone, skin, brain & spinal cord. Based on application, the global tissue banking market has been split into therapeutics, cosmetic, research & development, drug discovery, and others.

 In terms of geography, the global tissue banking market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.

Based on tissue type, the heart valve and cornea segment dominated the global tissue banking market. Rise in prevalence of cardiovascular diseases and obesity drives the segment. According to WHO report (2017), cardiovascular diseases (CVDs) accounts for 17.7 million deaths each year, i.e., 31% of all global deaths. Increase in government awareness programs in developing economies is expected to fuel the tissue banking market during the forecast period.

In terms of application, the therapeutic segment dominates the global tissue banking market. Increasing prevalence of chronic diseases such as cancer is expected to drive the demand for human tissue in the near future.

North America accounted for 45.0% share of the market in 2017. Increasing prevalence of cardiovascular diseases as well as high per capita health care expenditure and availability of better and advanced health care facilities have resulted in people spending more on health care. Increasing mergers & acquisition, new product launches, and technological advancements are anticipated to drive the tissue banking market in Europe during the forecast period. China and India are lucrative markets and also new product launches are factors driving the tissue banking market in Asia Pacific. In July 2018, PHC Corporation introduced the new -85°C ultra-low temperature freezer VIP ECO series 1 using natural refrigerants 2 and new inverter compressors for the market in Japan, designed specifically for pharmaceutical companies and research and medical institutions.

Latin America and Middle East & Africa are expected to hold a significant share of the global tissue banking market during the forecast period. Increase in the usage of different allograft products has been observed in these countries. Establishment of various bio banking organizations is expected to drive the tissue banking market during the forecast period. Numerous government and private organizations are working toward development of the tissue banks to address the increasing demand for human tissue in the region, which in turn is expected to offer lucrative growth opportunities in the next few years.

Major players operating in the global tissue banking market include Thermo Fisher Scientific Inc., Brooks Automation, Inc., VWR Corporation, BioLife Solutions, Inc., PHC Corporation, Custom Biogenic Systems, Inc., Bluechiip Limited, Merck KGaA, Beckman Coulter, Inc., and Hamilton Company. These players adopt organic and in-organic growth strategies to expand product offerings, strengthen geographical reach, increase customer base, and capture market share. For instance, In June 2017, according to the agreement signed between Bluchip and Labcon, Bluechip shipped the first order consisting of Bluechiip Buttons, Bluechiip Cryoboxes and Bluechiip Readers.

Global Tissue Banking Market: Overview

This report on the tissue banking market analyzes the current and future scenario of the global market. Increasing product development, rising demand for biologic therapeutics, and increasing research on stem cells are major drivers of the global tissue banking market.

The tissue banking market report comprises an elaborate executive summary, which includes a market snapshot that provides information about various segments of the market. It also provides information and data analysis of the global market with respect to the segments based on product, tissue type, application, and geography. A detailed qualitative analysis of drivers and restraints of the market and opportunities has been provided in the market overview section. Additionally, the section comprises competitive matrix and company profiles with business overview to understand the competitive landscape in the market. This section of the report also provides market attractiveness analysis, by geography and market share analysis by key players, thus presenting a thorough analysis of the overall competitive scenario in the global tissue banking market.

Global Tissue Banking Market: Key Segments

Based on product, the market has been segmented into equipment and media & consumables. The equipment segment has been further sub-segmented into cryopreservation equipment, thawing equipment, quality control equipment, and others. The market segments have been analyzed based on available product categories in tissue banking market, cost-effectiveness, and preference for industries. Cryopreservation equipment are routinely used for storing tissue samples. Based on tissue type, the global tissue banking market has been classified into heart valves, cornea, bone, skin, brain & spinal cord, and others. In terms of application, the global tissue banking market has been split into therapeutic, cosmetic, research & development, drug discovery, and others.

The market size and forecast for each of these segments have been provided for the period from 2016 to 2026, along with their respective CAGRs for the forecast period from 2018 to 2026, considering 2017 as the base year.

Global Tissue Banking Market: Regional Outlook

In terms of region, the global tissue banking market  has been categorized into five major regions and the key countries in the respective region are: North America (U.S., Canada), Europe (U.K., Germany, France, Spain, Italy, and Rest of Europe), Asia Pacific (India, China, Japan, Australia & New Zealand and Rest of Asia Pacific), Latin America (Brazil, Mexico, and Rest of Latin America) and Middle East & Africa (South Africa, GCC Countries, and Rest of Middle East & Africa). The market size and forecast for each of these regions and the mentioned countries have been provided for the period from 2016 to 2026, along with their respective CAGRs for the forecast period from 2018 to 2026, considering 2017 as the base year. The research study also covers the competitive scenario in these regions.

Companies Mentioned in Report

The report also profiles major players in the global tissue banking market based on various attributes such as company overview, financial overview, product portfolio, business strategies, and recent developments. The major players profiled in the tissue banking market report include Thermo Fisher Scientific Inc., Brooks Automation, Inc., VWR Corporation, BioLife Solutions, Inc., PHC Corporation, Custom Biogenic Systems, Inc., Bluechiip Limited, Merck KGaA, Beckman Coulter, Inc., and Hamilton Company.

The global Tissue Banking Market is segmented as given below:

  • Global Tissue Banking Market, by Product
    • Equipment
      • Cryopreservation equipment
      • Thawing equipment
      • Quality Control Equipment
      • Others
    • Media & Consumables
  • Global Tissue Banking Market, by Tissue Type
    • Heart Valves
    • Cornea
    • Bone
    • Skin
    • Brain & Spinal Cord
    • Others
  • Global Tissue Banking Market, by Application
    • Therapeutic
    • Cosmetic
    • Research & Development
    • Drug Discovery
    • Others
  • Global Tissue Banking Market, by Geography
    • North America
      • U.S.
      • Canada
    • Europe
      • Germany
      • U.K.
      • Italy
      • France
      • Spain
      • Rest of Europe
    • Asia Pacific
      • India
      • China
      • Japan
      • Australia & New Zealand
      • Rest of Asia Pacific
    • Latin America
      • Brazil
      • Mexico
      • Rest of Latin America
    • Middle East & Africa
      • GCC countries
      • South Africa
      • Rest of Middle East & Africa
.