(MENAFN- America News Hour) Recent report published by research nester titled“Global Tissue Banking Market : Global Demand Analysis & Opportunity Outlook 2027″ delivers detailed overview of the global tissue banking market in terms of market segmentation by type, tissue type, application type, service type and by region.
The global tissue banking market is segmented by tissue, service, equipment and application type. By tissue, the market is segmented into skin, heart valves, corneas, umbilical cord. By equipment type, the market is segmented into cryopreservation, thawing, quality control and others. By application type, the market is segmented into cosmetic, therapeutic and medical research. Based upon the service, the market is sub-segmented into screening, serological testing and others.
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The global tissue banking market is foreseen to record a CAGR of 12.4% over the forecast period i.e. 2019-2027 owing to rise in tissue transplant cases and rising incidences of cancers, cardiovascular diseases and diabetes. The cryopreservation segment is anticipated to witness leading market shares owing to ongoing product development and constant market expansion through mergers and acquisitions.
Additionally, the wide range of applications for instance storage, handling, transportation and maintenance of specimens and samples is anticipated to increase the market growth. The therapeutic segment is expected to have significant growth on the back of increasing chronic disease cases. Additionally, the demand for skin, tendon, and cardiovascular tissues has resulted in their increased preservation in safe and sterilized tissue banks.
North America is anticipated to witness leading market share of around 47% during the forecast period owing to advanced technology and high awareness regarding tissue donation among the people followed by Europe which is expected to attain a significant growth on the back of increasing geriatric population and unhealthy lifestyle prevailing in the region.
Asia-Pacific is anticipated to record a CAGR of around 13.6% on the account of government initiatives for expanding medical facilities coupled with presence of key market players in the region. Middle East and Africa is expected to witness moderate growth on the back of gradual increase in allograft product usage.
Technological advancement in the healthcare sector such as development in bio banking technology coupled with rise in regenerative tissue demand are expected to drive the market growth. However, high transplant cost, bioethical issues and unavailability of tissue banks in many remote countries coupled with stringent government rules and regulations regarding testing and clearance document are expected negatively impact the growth of global tissue banking market over the forecast period.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter's five force model.
This report also provides the existing competitive scenario of some of the key players of the global tissue banking market which includes company profiling:
Tissue Banks International, Thermo Fisher Scientific Inc., Brooks Automation, Inc., VWR Corporation, BioLife Solutions, Inc., PHC Corporation, Custom Biogenic Systems, Inc., Bluechiip Limited, Merck KGaA, Beckman Coulter, Inc., Hamilton Company and Other prominent players.
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The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global tissue banking market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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