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.
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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.
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.
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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.
Key Players of Tissue Banking Report:
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.
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