Tissue Banking Market Size Analysis (2023 - 2030)

The global tissue banking market size is projected to reach USD 2.81 billion by 2030 from USD 1.56 billion in 2022. The market is estimated to grow with a CAGR of 11.2% from 2023 - 2030.

Tissue banks accelerate the collection and storage of tissue specimens. The tissue banks play a crucial role in research into diseases and disorders and healthcare. Tissues can be used to repair damaged heart muscles, skin repair of burns, and spinal cord injury treatment. Different types of tissues can be donated like eye tissue, bone and tendon tissue, heart tissues, and skin tissues.

Market Drivers

The regenerative medicines demand is rising which propels the tissue banking market growth. Factors like rising chronic diseases like cardiovascular diseases, cancer, neurological disorders, and excellent treatment with advanced technologies fuel the tissue banking market growth throughout the forecast period. 

Along with public organizations, private and other corporate organizations are investing huge capital, enhancements in bio-banking technology and rising expenses in healthcare are some factors boosting the global tissue banking market growth. Past few years, blood donation is increasing, fueling the tissue bank market growth during the forecast period. 

Market Restrains

• Lack of professionals and donors

The absence of well-experienced and trained professionals to perform transplant surgeries is one of the key factors hindering the tissue banking market. Also, the lack of availability of donors hampers the growth of the market. 

• Expensive treatment

The cost factor associated with transplantation surgery limits the tissue banking market growth globally.

COVID-19 Impact on Global Tissue Banking Market

The sudden outburst of novel coronavirus (COVID-19) has created an unprecedented challenge in the tissue banks market. Due to the pandemic period, people stopped visiting hospitals, and also gave a break to blood donations, and other medical donations. During the first wave and due to lockdown imposed by different nations, the absence of donors obstructed the tissue banking market growth.

TISSUE BANKING MARKET REPORT COVERAGE

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Segmentation Analysis

The research report on the global tissue banking market has been segmented and sub-segmented based on the following categories:

Tissue Banking Market - By Tissue Type

• Blood
• Bone
• Skin
• Soft tissues
• Heart valves
• Corneas
• Umbilical Cord

Tissue Banking Market - By Application

• Clinical /Therapeutic
• Medical Research
• Cosmetics

Tissue Banking Market - By Equipment

• Cryopreservation Systems
• Labeling and Coding Equipment
• Thawing equipment
• Quality Control Equipment
• Alarming and Monitoring Systems

Tissue Banking Market - By End-User

• Hospitals
• Research & Academic Institutes
• Biotech Companies
• Ambulatory Surgery Centers
• Others 

Regional Analysis

North America accounts hold the majority of the share in the tissue banking market. The market is likely to continue its dominance throughout the historical period. The U.S market for tissue banking is driven by factors like increasing research and development activities and growth in chronic diseases burden. Around 6 in 10 adults have a chronic disease in the U.S., as per the Center for Disease Control and Prevention (CDC). Nearly 36,000units of red blood cells are required per day in the U.S. 

The European tissue banking market is accounted to produce a considerable growth rate over the period. The government of Europe supports tissue banking which accelerates the growth of the market. In the U.K., the NHS Blood and Transplant (NHSBT) is a special health authority with blood, tissue, and organ donation responsibility. The German Society for Tissue Transplantation (DGFG) prepares tissue donation and delivers patients with corneal transplants, bone grafts, and blood vessels. In Europe, the organ centers like Bio Implant Services (BIS) in cooperation with Eurotransplant that play an intermediate role in donating tissue to transplantation. Countries like Spain, Italy, and Sweden are the major countries accounting for a major share in the tissue banking market. The market growth in these countries is due to the high number of donors. Around 17,000people chose blood vessel tissue donation. 

Asia-Pacific is refined to record quick growth owing to government initiatives for extending medical services incorporated with the existence of key players throughout the region. 

Tissue banking in China is expected to have a quick development.

In 2016, Sanpower Group and its supplementary Nanjing Cenbest disclosed the purchase of China Cord Blood Corporation and Shandong Cord Blood Bank. The Sanpower Group has 8,00,000cord blood samples stored in China. Moreover, Sanpower Group and its secondary Nanjing Cenbest are the largest cord blood banking operators, not only in Asia-Pacific but also globally. 

Korea is accounted to hold a large network of tissue banks and also has substantial experience in storage techniques. Korea has even exported some tissues to the dentists of Japan to ease the problem of the lack of human tissue supply in Japan.

Past 30 years, the Indonesian tissue banking market has been experiencing notable developments in launching tissue banks at major hospitals. 

The Australian government has moved quickly to supervise the tissue banking sector. The Australian Breast Cancer Tissue Bank (ABCTB) is a breast cancer research resource. Breast cancer is supported by the association network of clinicians and researchers. 

However, Latin America is considered as the second quickest growing region globally. Brazil, Mexico and rest of Latin America are the major contributors in the tissue banking market with steady growing rate throughout the forecast period. 

The Middle East & African tissue banking market is at its developing stage. The tissue bank in South Africa has witnessed the enhancement and increase in cost to develop quality and safety controls. Building biobanks in Africa like cord blood banks, and other different types of tissue biobanks play a vital role in fighting against non-communicable diseases like sickle cell disease. Biobanking is promoted and accepted in Africa as the samples will be available for the enhancement of therapies and drugs. 

Market Key Players

Major companies in the tissue banking market include, Thermo Fisher Scientific, Inc. (U.S.), Custom BioGenic Systems (U.S.), Organ Recovery Systems, Taylor-Wharton International LLC (U.S.), AbD Serotec (a Bio-Rad company) (U.K.), Inc. (U.S.), EMD Millipore Corporation (U.S.), BioCision LLC (U.S.), Teva Pharmaceutical Industries Ltd. (Israel), Sigma-Aldrich Corporation (U.S.), Genzyme Corporation (U.S.), Fisher BioServices, Inc. (U.S.), EPL Archives, Inc. (U.S.), BioStorage Technologies, Inc., AMS Biotechnology (Europe) Limited (U.K.), Beckman Coulter, Inc. (U.S.), Panasonic Biomedical Sales Europe B.V. (Netherlands), and Eppendorf AG (Germany).

Recent Market Developments in the Global Tissue Banking Market

• On January 27, 2022, Thermo Fisher Scientific developed a new medium for developing and expanding human T lymphocytes for cell therapy developers using allogeneic workflows.
• On March 04, 2022, Beckman Coulter LifeSciences launched CytoFLEX SRT Benchtop Sorter.
• On September 11, 2022, Teva approved the HERZUMA for treating adult patients with breast cancer, metastatic breast cancer, and metastatic gastric cancer. HERZUMA is a biosimilar to HERCEPTIN.