Global Tissue Banking Market Size By Tissue Type (Heart Valves, Cornea, Brain And Spinal Cord), By Application (Therapeutic, Cosmetic, Research And Development), By End-User (Biobanks, Hospitals And Clinics, Research And Academic Institutes), By Geographic Scope And Forecast

Tissue Banking Market Size And Forecast

Tissue Banking Market size was valued at USD 1.37 Billion in 2021 and is projected to reach USD 3.24 Billion by 2030, growing at a CAGR of 11.46% from 2023 to 2030.

The increasing demand for regenerative medicines and the rising prevalence of cardiovascular and neurological disorders, cancers, and diabetes patients globally are expected to fuel the growth of the global Tissue Banking Market. The Global Tissue Banking Market report provides a holistic evaluation of the market.

Global Tissue Banking Market Drivers

The market drivers for the Tissue Banking Market can be influenced by various factors. These may include

• Growing Prevalence of Chronic Diseases There is a growing need for tissue banking services for both research and therapeutic applications due to the rising incidence of chronic diseases like cancer, cardiovascular disease, and orthopaedic problems.
• Growing Senior Population Tissue banking is becoming more and more necessary for a range of medical treatments, such as organ transplantation and regenerative medicine, as the world’s senior population ages.
• Technological Advancements By extending the shelf life and quality of stored tissues, innovations in tissue preservation methods like vitrification and cryopreservation, as well as breakthroughs in biobanking technologies, automation, and digitization, propel market expansion.
• Growing Emphasis on Personalised Medicine As medical care becomes more individualised for each patient based on their genetic composition and other characteristics, tissue samples are becoming more and more necessary for research and the creation of focused medicines.
• Initiatives for Funding and Regulatory Support Government funding and regulatory supports for tissue research and biobanking promote the development of infrastructure and tissue banking facilities.
• Stem Cell Research is Gaining Popularity As stem cell research for applications in regenerative medicine receives more attention and funding, there is an increasing need for tissue banking services to store and preserve different kinds of stem cells.
• Growing Biopharmaceutical Industry The market for tissue banking is growing as a result of the growing biopharmaceutical industry’s need for a steady supply of high-quality tissue samples for drug development, testing, and discovery.
• Growing Knowledge and Acceptance Growing knowledge about the advantages of tissue banking for medical research, therapy, and illness prevention among patients and healthcare professionals supports market growth.
• Emerging Markets Tissue banking businesses have enormous development potential to extend their operations and target new clientele thanks to the rapidly expanding healthcare infrastructure and rising healthcare spending in these regions.
• Impact of the COVID-19 Pandemic By highlighting the value of tissue banking for medical research, vaccine development, and comprehending the pathophysiology of infectious diseases, the COVID-19 pandemic has accelerated market adoption and expansion.

Global Tissue Banking Market Restraints

Several factors can act as restraints or challenges for the Tissue Banking Market. These may include

• Exorbitant expense of Tissue Banking Services The acquisition, preparation, preservation, and upkeep of tissue samples all come at a substantial expense when it comes to tissue banking. Adoption may be hindered by the high initial and recurring expenditures, especially in healthcare settings with limited resources.
• Legal and Ethical Issues The acquisition and use of human tissue samples raises legal and ethical issues related to permission, privacy, and ownership rights. These issues may cause regulatory obstacles and public attention, which could impede tissue banking efforts.
• Restricted Donor Pool There may be a shortage of acceptable tissue donors, particularly for uncommon tissues or particular racial or ethnic groupings. This scarcity can impede studies and postpone the creation of treatments that call for a variety of tissue samples.
• Difficulties with StandardisationDifferences in the methods used by various biobanks for tissue collection, processing, and storage might result in inconsistent sample quality and dependability, which can have an impact on clinical results and research reproducibility.
• Risk of Contamination and deterioration Over time, particularly during handling, transportation, and storage, tissue samples are subject to contamination, deterioration, and loss of viability. It can be difficult, but maintaining sample integrity and quality control is crucial.
• Complicated Regulatory Environment Tissue banking facilities may find it difficult and resource-intensive to comply with a variety of constantly changing rules, such as those pertaining to tissue procurement, storage, and data administration. This could impede market expansion.
• Limited Education and Awareness Misconceptions or the stigma attached to tissue donation, together with a lack of knowledge about the advantages of tissue banking among researchers, healthcare professionals, and the general public, may prevent people from supporting and participating in tissue banking projects.
• Infrastructure and Logistics Challenges It can be difficult to establish and maintain a strong infrastructure for tissue collecting, processing, storage, and distribution. It can also be difficult to provide dependable transportation and logistics networks, especially in rural or underdeveloped areas.
• Security and Data Privacy Concerns Ensuring that discreet and secure tissue banking operations depends on protecting sensitive patient data and adhering to data protection laws, such as GDPR in Europe and HIPAA in the United States.
• Competition from Alternative Technologies Developments in alternative technologies could provide substitutes for traditional tissue banking services in drug testing and tissue modelling. Examples of these technologies include 3D bioprinting and organ-on-a-chip platforms.

Global Tissue Banking Market Segmentation Analysis

The Global Tissue Banking Market is Segmented on the basis of Tissue Type, Application, End-User, And Geography.

Tissue Banking Market, By Tissue Type

• Heart Valves
• Cornea
• Brain & Spinal Cord
• Bone & Skin

Based on Tissue Type, The market is segmented into Heart Valves, Cornea, Brain & Spinal Cord, and Bone & Skin.

Tissue Banking Market, By Application

• Therapeutic
• Cosmetic
• Research & Development
• Drug Discovery

Based on Application, The market is segmented into Therapeutic, Cosmetic, Research & Development, and Drug Discovery. The therapeutic segment accounted for the highest market share. Tissues preserved in tissue banks can be used to address a lot of people’s medical needs, such as heart valves in patients with heart disorders. Tissue banking is commonly used in clinical/therapeutic applications because it involves various types of grafting such as cord blood, stem cell, and others.

Tissue Banking Market, By End-User

• Biobanks
• Hospitals and Clinics
• Research and Academic Institutes
• Others

Based on End-User, The market is segmented into Biobanks, Hospitals and Clinics, Research and Academic Institutes, and Others.

Tissue Banking Market, By Geography

• North America
• Europe
• Asia Pacific
• Rest of the world

On the basis of Geography, The Global Tissue Banking Market is classified into North America, Europe, Asia Pacific, and the Rest of the world. In the Global Tissue Banking Market, North America held the largest market share. Because of the strong foothold of healthcare infrastructure and a large number of patients. Factors such as advanced technology and high awareness regarding tissue donation among medical personnel and healthcare professionals are also contributing to the market growth. Whereas, Asia-Pacific is anticipated to grow at the highest CAGR during the forecast period on the account of government initiatives for expanding medical facilities coupled with the presence of key market players in the region.

Key Players

The “Global Tissue Banking Market” study report will provide valuable insight with an emphasis on the global market. The major players in the market are Thermo Fisher Scientific Inc., Brooks Automation Inc., VWR Corporation, BioLife Solutions Inc., PHC Corporation, Custom Biogenic Systems Inc., Merck KGaA, Bluechiip Limited, Hamilton Company, Beckman Coulter Inc., and Others. The competitive landscape section also includes key development strategies, market share, and market ranking analysis of the players mentioned above globally.

Key Developments

• In October 2021, MTF Biologics announced the formation of a new tissue recovery relationship with Regenerative Biologics, Inc.
• In 2019, Natera, a leader in genetic testing, launched Evercord, a new offering that enables expectant parents to collect, store, and potentially retrieve their newborn’s cord, blood, and tissue for therapeutic use in transplantation and regenerative medicine applications.
• October 11, 2022StoCastic’s TriageGo, a triage decision support tool that integrates electronic health records and emergency department workflows, will be a cornerstone of Beckman Coulter’s Clinical Decision Support portfolio.
• July 20, 2022Beckman Coulter, a global leader in clinical diagnostics, and Scopio Labs, a medtech company that develops AI-powered workflow solutions, announced today a worldwide partnership to accelerate adoption of Scopio’s next generation peripheral blood smear platforms.

Ace Matrix Analysis

The Ace Matrix provided in the report would help to understand how the major key players involved in this industry are performing as we provide a ranking for these companies based on various factors such as service features & innovations, scalability, innovation of services, industry coverage, industry reach, and growth roadmap. Based on these factors, we rank the companies into four categories as Active, Cutting Edge, Emerging, and Innovators.

Market Attractiveness

The image of market attractiveness provided would further help to get information about the region that is majorly leading in the global Tissue Banking market. We cover the major impacting factors that are responsible for driving the industry growth in the given region.

Porter’s Five Forces

The image provided would further help to get information about Porter’s five forces framework providing a blueprint for understanding the behavior of competitors and a player’s strategic positioning in the respective industry. Porter’s five forces model can be used to assess the competitive landscape in the Global Tissue Banking