Tissues are aggregate of similar cells forming a definite structural material that act together to perform a specific function in an organism. Tissues are important for proper functioning of the body as these are cellular intermediates between cells and body organs. Muscle tissue, epithelial tissue, connective tissue, and nervous tissue are four basic types of tissues in the human body. Tissue banking refers to storage of human cadaver tissues and organs in cryogenic conditions for potential medical research and effective use in treating different diseases. Tissue banking has always been an important application of modern science and in the global healthcare sector.
One of the major factors driving growth of the global tissue banking market is increasing demand for regenerative medicines. These medicines are capable of replacing, engineering, and regenerating functional cells, tissues for treating tissue loss due to age-related diseases or conditions, diseases, major injury, or congenital defects. Other prominent factors driving market growth include rising prevalence of cardiovascular and neurological disorders, a variety of cancers, diabetes, and other diseases. Moreover, increasing need for storage of organs for transplant, and research of new patient medicines in research center initiatives by healthcare organizations to improvise healthcare facilities are expected to fuel growth of the global tissue banking market.
Bioethical issues related to storage and stability of tissues and high-cost involved in preservation of biological tissues under controlled environments are factors hampering growth of the global tissue banking market. Unavailability of tissues and tissues banks in certain countries and regions also acts as a restraining factor. Moreover, stringent regulatory norms by government for storage of tissues and approval of new products hampers growth of the global tissue banking market.
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North America market accounts for comparatively higher revenue contribution to the global tissue banking market. Advanced technologies, presence of accredited tissue banks, and increased donation of tissues due to rising awareness of preventive care measures is expected to drive growth of the North America tissue banking market to a significant extent. Europe is second-largest tissue banking market and is projected to generate new opportunities in the upcoming years owing to rising prevalence of chronic diseases, and increasing geriatric and obese population in countries in the region. Asia Pacific is an emerging market for tissue banking and is expected to witness a high growth rate during the forecast period owing to various biotech research initiatives initiated by governments and high number of private players of countries in this region. Markets in India and China are leading in Asia Pacific. The tissue banking market in India is projected to emerge with a strong pool of expertise in research department.
Key players include Backman Coulter Inc., Thermo Fisher Scientific, Tecan Group Ltd., BioCision LLC, BioLife Solutions Inc., Taylor-Wharton, Custom Biogenic Systems Inc., Sigma-Aldrich Corporation, Panasonic Biomedical, and Brooks Automation.