Zion Market Research, the market research group announced the analysis report titled 'Tissue Banking Market: Global Industry Analysis, Size, Share, Growth, Trends, and Forecasts 2016–2022'
Sarasota, FL -- (SBWIRE) -- 01/12/2018 -- Zion Market Research has published a new report 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". The global tissue banking market was valued at around USD 3.39 billion in 2016 and is expected to reach approximately USD 5.93 billion by 2022, growing at a CAGR of around 10% between 2016 and 2022.
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Histology is the study of function and structure of tissues, cells, and organs of the body, at the microscopic level. Tissues are societies of cells, specialized in delivering specific function. Basic types of tissues include nervous tissue, connective tissue, muscle tissue, and epithelium tissue. Tissue banking is an important application of modern science and tissue bank contains human organs or tissues stored as the potential resource for future research or for patient care and service. The aim of tissue banking is to provide the quality sample for organ transplantation across the tree of life.
Tissue banking market is mainly driven by increasing awareness for blood and tissue donation. On an average 22 people die each day while waiting for organ transplantation and every 10 minutes someone is added to the waiting list for organ transplantation. Moreover, increasing chronic diseases, the government initiative, and improvement of health care facilities influence the growth of tissue banking market. However, bioethical issues and cost of tissue preservation are responsible for restraining the growth of tissue banking market. Nevertheless, untapped market and new advanced techniques for tissue banking are likely to open new opportunities for the tissue banking market in the forecast period.
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On the basis of tissue type, the market of tissue banking is segmented as cardiovascular tissue, lung tissue, kidney tissue, pancreas tissue, liver tissue, eye tissue and other tissues. Among these types eye, tissue banking segment was leading the market with around 40% market share and it is expected to show its dominance in the forecast period. Kidney tissue banking segment is a second largest market with around 30% market share followed by cardiovascular tissue banking segment. Cardiovascular tissue banking segment provides variety of preserved implantable tissues, such as patch materials, pulmonary valves, and aortic valves.
Based on equipment type, the tissue banking market is segmented into cold storage equipment, tissue processor, freezers, thawing equipment, labeling & coding equipment, reagents & chemicals, specimen collection, and accessories. Freezers and cold storage equipment are the two largest market segment covered by tissue banking market. Freezers segment covers more than 20% of global tissue banking market & these freezers are ideal for tissue banking which are equipped with microprocessor controller with temperature chart recorder & digital temperature display. Cold storage equipment is also an emerging segment with more than 15 % revenue contribution in the year 2016.
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Based on the application type, the market of tissue banking has been bifurcated into the human application and research application. In 2016, human application segment dominated the tissue banking market with lucrative market share and during the forecast period, research application market is expected to grow at the healthy rate due to increasing investment in research and development by the manufacturer.
Key operating players in tissue banking market are like Backman Coulter Inc., Thermo Fisher Scientific, BioLife Solutions, Inc., Taylor-Wharton, Custom Biogenic Systems, Inc., Sigma-Aldrich Corporation, Panasonic Biomedical and Brooks Automation.
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