Tissue Banking Market is Estimated to Witness High Growth Owing to Significant Rise in Demand for Regenerative Medicine Treatments

Tissue Banking Market



Tissue banking refers to the storing, preserving and distributing of human and animal tissues for the purpose of performing medical research and treating ailments and injuries that involve transplantation of tissues like bone, skin, heart valves, tendons and ligaments. There has been a rising demand for tissues used in regenerative medicine treatments and surgeries. With the growing geriatric population and rising cases of trauma injuries and chronic diseases, regenerative medicine using tissues has gained increased prominence.

The Global Tissue Banking Market is estimated to be valued at US$ 1.81 Bn in 2023 and is expected to exhibit a CAGR of 10% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Opportunity:

With growing applications of stem cell research and regenerative medicine, the demand for high-quality tissues with intact viability is increasing. Tissue banks help in storing tissues safely and efficiently while maintaining cellular viability over long periods of time by using cryopreservation techniques. The significant rise in demand for tissues for regenerative applications presents a major market opportunity for Tissue Banking Market players. With greater R&D in stem cell therapies and tissue engineering, more clinical applications are expected to emerge, driving the need for robust and reliable tissue sourcing through banking facilities. Market players can capitalize on this opportunity by expanding their tissue collection networks and enhancing their processing and storage infrastructure and capacities to reliably meet the growing demand.

Porter's Analysis
Threat of new entrants: Low capital requirements and lack of patents make entry easy however established brands and certifications make it difficult for new players.
Bargaining power of buyers: Large number of buyers with differentiated needs gives them higher bargaining power.
Bargaining power of suppliers: Specialized equipment and trained professionals give suppliers a better position in negotiations.
Threat of new substitutes: Technological advances can potential substitute some traditional methods but regulations protect established practices.
Competitive rivalry: Large number of players fragmented across regions compete on quality, reliability and innovation.

SWOT Analysis
Strength: Established infrastructure, expertise and certifications. Standardization of processes boosts quality assurance.
Weakness: Highly regulated making changes difficult and costly. Dependency on limited raw material sources.
Opportunity: Expanding into new applications and therapeutic areas like regenerative medicines. Tapping into emerging markets.
Threats: Stringent regulations and compliance issues. Competition from alternative preservation methods.

Key Takeaways
Global Tissue Banking Market Demand is expected to witness high growth during the forecast period of 2023 to 2030. The market size for 2023 is US$ 1.81 Bn forecasting a CAGR of 10%.

Regional analysis shows North America has been the largest market for tissue banking due to supportive regulations and healthcare infrastructure. The US contributes majorly owing to availability of resources and presence of advanced research facilities. However, Asia Pacific is emerging as the fastest growing region driven by healthcare reforms, expanding private sector and increasing demand for tissue transfusions in countries like China and India.

Key players operating in the Tissue Banking Market incorporate AbD Serotec, AMS Biotechnology Limited, BioLife Solutions, Inc., Beckman Coulter, Inc., BioCision LLC, BioStorage Technologies, Inc., Custom BioGenic Systems, Eppendorf AG, EMD Millipore Corporation, Fisher BioServices, Inc., Genzyme Corporation, Hamilton Company, Merck KGaA, PHC Corporation, and Teva Pharmaceutical Industries Ltd. The players focus on expanding their service portfolio and geographic presence through collaborations and acquisitions to consolidate their market shares. 


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