Seattle, Sept. 05, 2022 (GLOBE NEWSWIRE) -- According to Coherent Market Insights, the global tissue banking market is estimated to be valued at US$ 1.63 billion in 2022 and is expected to exhibit a CAGR of 10.8% during the forecast period (2022-2030).
Key Trends and Analysis of the Global Tissue Banking Market:
Companies in tissue banking market are proactively working towards the research and development of new opportunities. For instance, in January 2021, biomedical research is supported by National Investigation Agency (NIA) through several programs that require studying aging in animal models. Non-human primates (NHPs) are important models for investigating the biology of aging, including the effects of environmental and social determinants. They also have the potential to provide data more directly translatable to human biology and aging. The National Advisory Council on Aging (NACA) aimed to maximize the use of already available NHP biospecimens and provide a mechanism for multiple investigators to share tissue. The proposed contract will maintain and manage a collection of tissues and blood derivatives. Furthermore, it will expand the reach of the Non-human primates- NHP-TB, improve coordination with NHP-holding institutions and other tissue banks, increase the number of species and ages, and establish a registry of donors for efficient tissue collection.
Furthermore, in October 2018, male to female (MTF) Biologics announced the formation of a new tissue recovery relationship with Regenerative Biologics, Inc., Biotechnology Research Center. The organizations will seek to provide expanded birth-tissue donation opportunities for expectant mothers and their families and enhance patients’ access to high-quality placental tissues for wound care applications.
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Key Market Takeaways:
The global tissue banking market is expected to exhibit a CAGR of 10.8% during the forecast period due to the increasing funding from the Capital market company. For instance, in September 2021, OrbiMed Advisors LLC, Capital Market Company, funds the LifeCell International, Stem Cell Bank with US $255 billion for meeting growth capital requirements and foray into adjacent stem cell units. The funds will help in development growth plans in the storage divisions of the stem cell. LifeCell seeks to further leverage its technological expertise, strong brand position, and wide network to foray into adjacent new categories like fertility health and cell based therapeutics. The funds raised by OrbiMed will help to accelerate this agenda and further strengthen the LifeCell market position.
On the basis of product, the media and consumables segment is expected to dominate the segment growth over the forecast period, owing to the launch of new products in the market. For instance, in May 2022, the largest U.S. report of elective fertility preservation outcomes to date found that 70 percent of women who froze eggs when they were younger than 38—and thawed at least 20 eggs at a later date—had a baby. Led by experts at NYU Grossman School of Medicine and the NYU Langone Fertility Center, the new finding was based on 15 years of real-life frozen egg thaw outcomes for women who had delayed childbearing and faced natural, age-related fertility decline.
Key players operating in the global tissue banking market include AbD Serotec (a Bio-Rad company), 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.
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Global Tissue Banking Market, By Product:
Media and Consumables
Quality Control Equipment
Global Tissue Banking Market, By Tissue Type:
Brain & Spinal Cord
Global Tissue Banking Market, By Region:
Rest of Latin America
Rest of Europe
Rest of Asia Pacific
Rest of Middle East
Related Market Intelligence Reports:
Cell Cryopreservation Market, by Product Type (Cryoprotectant Agents(Glycerol,Dimethyl Sulfoxide (DMSO),Others) and Equipment), by Application (Stem Cells, Oocytes and Embryos, Sperm, Semen, and Testicular Tissue, Hepatocytes, and Others), by End User (Pharmaceutical and Biotechnology Companies, Academic and Research Institutes, Biobank, and Others), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) - Size, Share, Outlook, and Opportunity Analysis, 2022 – 2030
Tissue engineering Market, by Material Type (Synthetic, Biological, and Others), by Application (Dermal, Orthopedic, Dental, Neurology, and Others), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa)- Size, Share, Outlook, and Opportunity Analysis, 2022 - 2030
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