Global Tissue Banking Market Size, Share & Trends Analysis Report, By Products (Equipment and Consumables & Media,) By Applications (Medical Research, Therapeutics, and Others), and Forecast 2022-2028

The Global Tissue Banking Market is Anticipated to Grow at the CAGR of 11.2% During the Period 2017-2022

The global tissue banking market is anticipated to grow at a substantial CAGR of 9.3% during the forecast period. Increasing demand for bio banks with growing investment for drug development for various diseases is increasing the global tissue bank market.

A biobank is a practice of creating wide-range repositories for the collection, storage, and distribution of human samples such as blood, plasma, serum, urine, tissues, cells, and others. Globally, there are several types of biobanks, such as diseases-oriented biobanks, population-based biobanks, tissue banks, and blood banks which are contributing to the market growth. According to American red cross around 29,000 units of red blood cells are needed every day in the U. S., Nearly 5,000 units of platelets and 6.500 units of plasma are needed daily, Nearly 16 million blood components are transfused each year in the U.S.

The global tissue banking market is segmented based on products, and application. Based on products the market is sub-divided into equipment and consumables & media. The equipment used for tissue banking includes thawing equipment, quality control equipment, cryopreservation equipment, and others. Tissue banking equipment is expected to hold a significant share in the global market. Increasing product development is one of the major factors contributing to the growth of the market. Further, on the basis of application, the market is segmented into medical research and therapeutics will experience the major growth in the tissue banking market industry. Government and private funding for the research is also fuelling the growth for then tissue bank market.

Geographically market is segmented into North America, Europe, Asia-Pacific, and the Rest of the World. North America dominates the market and is expected to continue its presence over the forecast period. The growth can be attributed to the increasing R&D activities and increasing adoption of tissue banking solutions and increasing tissue donors for various transplantation. As according to American Association of Tissue Banks (AATB), around 58,000 peoples donates tissues in US annually. The main role of tissue banking is to ,provide tissues for different treatments as a result, the demand for Tissue banking is set to increase over the coming years, which has contributed to the growth of the market in the North America region.

The major companies serving the global tissue banking market includes Custom Biogenic Systems, Inc., Eppendrof AG, Genzyme Corp. (A Sanofi Company), GlaxoSmithKline PLC, Merck KGaA and others. The market players are considerably contributing to the market growth by the adoption of various strategies including mergers & acquisitions, collaborations, funding, and new product launches, to stay competitive in the market. For instance, in 2022 Sanofi and IGM Biosciences announce collaboration agreement for oncology, immunology and inflammation targets. This collaboration is done to create, develop, manufacture and commercialize new class of potential therapeutics combining the superior features of multi-valent IgM antibodies over conventional IgG antibodies for stimulating cell surface receptors

Research Methodology

The market study of the global tissue banking market is incorporated by extensive primary and secondary research conducted by the research team. Secondary research has been conducted to refine the available data to breakdown the market into various segments, derive total market size, market forecast, and growth rate. Different approaches have been worked on to derive the market value and market growth rate. The team collects facts and data related to the market from different geography to provide a better regional outlook. In the report, the country-level analysis is provided by analyzing various regional players, regional tax laws and policies, consumer behavior, and macro-economic factors. Numbers extracted from secondary research have been authenticated by conducting proper primary research. It includes tracking down key people from the industry and interviewing them to validate the data. This enables the analyst to derive the closest possible figures without any major deviations in the actual number. The analysts try to contact as many executives, managers, key opinion leaders, and industry experts. Primary research brings authenticity to the reports.

Secondary Sources Include

• Financial reports of companies involved in the market.
• Whitepapers, research papers, and news blogs.
• Company websites and their product catalog.

The report provides an in-depth analysis of market size, intended quality of the service preferred by consumers. The report will serve as a source for a 360-degree analysis of the market thoroughly integrating different models.

Market Segmentation

1. Global Tissue Banking Market Research and Analysis by Products
2. Global Tissue Banking Market Research and Analysis by Application

The Report Covers

• Comprehensive research methodology of the global tissue banking market.
• This report also includes a detailed and extensive market overview with key analyst insights.
• An exhaustive analysis of macro and micro factors influencing the market guided by key recommendations.
• Analysis of regional regulations and other government policies impacting the global Tissue banking market.
• Insights about market determinants that are stimulating the global Tissue banking market.
• Detailed and extensive market segments with the regional distribution of forecasted revenues.
• Extensive profiles and recent developments of market players.