Tissue Banking Market Outlook 2017-2026 | Americord Registry, LLC, Beckman Coulter, BioCision
Tissue Banking market is accounted for $916.20 million in 2017 and is expected to reach $2774.50 million by 2026 growing at a CAGR of 13.1% during the forecast period. Some of the factors driving the market are increasing demand for regenerative medicines, growth in geriatric population, methods used in cellular therapy for the use of cord tissues. In addition, immediate cures for cancers, advancements in bio banking technology and increasing demand for human cells are enhancing the market growth. However, high equipment costs, complex accreditation and strict license legislations, ethical issues, and regulatory hurdles are the factors restraining the market growth.
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Tissue Banks is the method of collecting and banking freshly-frozen tissue specimens, they help in repairing injured heart muscles post-heart attacks, replacing skins for burn victims, spinal cord damaged persons and also play essential role in research into diseases and disorders, and general healthcare.
On the basis of equipment type, freezers has acquired largest market share and expected to remain larger in the forecast period, due to increasing usage in research institutes and hospitals. Based on Application, clinical and therapeutic category is bench topper among other applications and subjected to remain constant in the forecast period due to rising demand of preserving tissues for wider clinical applications.
By Geography, North America region held the largest market revenue on increasing health care expenditure, growing number of tissue banks, rising health care insurance coverage, improvement in health care facilities. However, Asia Pacific is projected to grow with highest CAGR during the forecast period due to government-driven awareness programs, and growing expenditure on health care.
Some of the key players in Tissue Banking market include Americord Registry, LLC, Beckman Coulter, BioCision, BioKryo, Biostorage Technologies, Inc., Bone Bank Allografts, Brooks Automation, Chernobyl Tissue Bank, IMA Pharma , LifeLink Tissue Bank, LIFENET Health, Inc., Novabone Products LLC, Tata Memorial Hospital Tissue Bank, Tecan Group, and Thermo Fisher Scientific.
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