Global Tissue Banking Market: Overview
Tissue Banking devices are used to store tissues in controlled environment for quality, safety and effective use in different disease treatment. The report on global Tissue Banking market, analyzes the current and future prospects of the market. The report consists of an executive summary that provides information about the products, its segments and sub-segments, along with a market snapshot and comparative analysis by geography, in terms of revenue %, for 2015.
Global Tissue Banking Market: Segmentation
Based on Equipment type, the global Tissue Banking market has been segmented into Freezers, Storage system, Thawing Equipment, Labelling and Coding Equipment, Alarming and Coding equipment. Freezers are the highly growing market growing at a CAGR of % which is followed by storage system. Based on applications, the Tissue Banking are segmented into Clinical and Therapeutic, Research & Development, Drug Discovery. Tissue banking are highly used in clinical and therapeutics and growing at a CAGR of % and followed by research and development. Based on end users, the market is segmented as Hospitals, Tissue Banks, Research and Academics Institutes and Diagnostic Laboratories. Umbilical cord blood transfusion is highly growing therapeutic treatment segment in tissue banking globally.
Global Tissue Banking Market: Geographical and Competitive Dynamics
Based on geography, the market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The regions are further segmented into major countries which include, U.S., Canada, Germany, U.K., France, Italy, Spain, rest of Europe, China, Japan, India, Australia, Rest of Asia Pacific, Brazil, Mexico, Rest of Latin America, Saudi Arabia, South Africa, Rest of Middle East & Africa. The report also comprises list major players in the market, their SWOT analysis, market share of these players in the Tissue Banking market, key business strategies, product portfolios, and recent developments. Key market players profiled in this report include, Thermo Fisher Scientific, Brooks Automation, Taylor-Wharton, Panasonic Biomedical, Backman Coulter Inc., Custom Biogenic Systems, Inc., Sigma-Aldrich Corporation, and BioLife Solutions, Inc., others. Majority of companies acquiring strategy of merger and acquisition for overall market growth. The technological advancement are another trend adopted by several companies for growth of business segment.
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Tissue Banking Freezers to Continue to Remain Dominant Equipment Type
Of the key variety of equipment commonly used across tissue banking facilities, the segment of freezers accounted for a significant share in the global tissue banking market in 2015. Increasing demand for regenerative medicines, cellular therapies, organ transplant, blood transfusions, and vaccines are the factors fueling the demand for freezers across the world. According to American Red Cross a total of 30 million blood components are transfused each year in the U.S. In addition, factors such as growing population, rising health care expenditure, and the rising use of a variety of tissues in the research institutes are fueling the demand for freezers in the field of tissue banking.
Freezers capable of plunging temperatures anywhere from -18°C to an ultra-low -86°C, for long-term storage of tissues are finding increased applications in the global market. The increased requirement for tissues for chronic diseases has driven the import and export of tissues globally, which is expected to fuel the market growth of storage system in the next few years. Favorable reimbursement policies are expected to support the growth of the segment in developing countries such as Brazil, China, and India.
Growth of Asia Pacific Market to Outpace Mature North America and Europe Markets
The tissue banking market in North America dominated the global tissue banking market, with a share of over 41.5% in 2015. Factors such as the rising prevalence of cancer, diabetes, cardiovascular diseases, the growing geriatric population, and technological advancements have supported the growth of the tissue banking market in the region in the past few years. Moreover, an estimated 1.6 million new cancer cases were detected in the U.S. alone in 2015. These factors collectively drive the vascular access devices market in North America. Currently in the U.S., approximately 850,000 tissue allografts are transplanted into patients annually. Much of this tissue is stored in the frozen form.
Europe ranked second in the global tissue banking market in 2015 with a 28.2% share in market’s overall revenue. Government initiatives such as the European Union Tissues and Cells Directives (EUTCD), which aim at improving awareness about safety and quality standards for human tissues and cells across the European Union, will drive Europe market in the next few years.
The tissue banking market in Asia Pacific, however, is expected to see the most promising development over the forecast period. Large population base, high target patient pool, increasing government initiatives to provide better health care facilities, rising disposable incomes, and per capita health care expenditure are driving the tissue banking market in Asia Pacific. According to Asian Diabetes Prevention initiative 60% of diabetics in the world live in Asia. By 2030, without intervention, both China and India combined will have almost half a billion diabetics. The consecutive rise in demand for regenerative medicines will provide a huge boost to the tissue banking market in the region.
Global Tissue Banking Market: Key Players
Key players in the global Tissue banking market includes Thermo Fisher Scientific, Brooks Automation, Taylor-Wharton, Panasonic Biomedical, Backman Coulter Inc., Custom Biogenic Systems, Inc., Sigma-Aldrich Corporation, and BioLife Solutions, Inc.
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