Tissue Banking Market To Find Better Growth with US$ 2.5 Billion By 2026 | CAGR: 10.8%: Coherent Market Insights
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The Global Tissue Banking Market, by Product (Media and Consumables, and Equipment), by Tissue (Bone, Brain & Spinal Cord, Cornea, Heart Valves, Skin, and Others), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) was valued at US$ 1.04 billion in 2017 and is estimated to exhibit a CAGR of 10.8% during the forecast period (2018-2026), as highlighted in a new report published by Coherent Market Insights.
Transplantation is a complex area of medicine, where organs or tissues are transplanted from one person to another. Human cells and tissue transplantation are mainly performed for saving lives and/or to restore essential functions. For instance, a corneal graft can restore sight in corneal blindness, and transplantation of a human heart valve can save lives even of pediatric patients.
Moreover, government plays an important role in tissue banking establishments and management, which is expected to drive the market growth over the forecast period. For instance, in 2013, three institutes at the National Institute of Health, including the National Institute of Mental Health (NIMH), the National Institute of Neurological Disorders and Stroke (NINDS), and the National Institute of Child Health and Human Development (NICHD) launched a joint initiative ‘NeuroBioBank’ in the U.S. It links together six large organ and tissue repositories through a common web portal.
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Key players in tissue banking market are proactively working towards the research and development of new opportunities. For instance, in October 2018, MTF Biologics announced the formation of a new tissue recovery relationship with Regenerative Biologics, Inc. 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.
Similarly, in 2017, Natera, a leader in genetic testing launched Evercord, a new offering that enables expectant parents to collect, store, and potentially retrieve their newborn’s cord, blood, and tissue for therapeutic use in transplantation and regenerative medicine applications.
Browse 38 Market Data Tables and 27 Figures spread through 152 Pages and in-depth TOC on “Tissue Banking Market, by Product (Media and Consumables, and Equipment), by Tissue (Bone, Brain & Spinal Cord, Cornea, Heart Valves, Skin, and Others), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Global Forecast to 2026”
To know the latest trends and insights related to tissue banking market press release, click the link below: https://www.coherentmarketinsights.com/press-release/tissue-banking-market-to-surpass-us-25-billion-by-2026-1378
Key Takeaways of the Tissue Banking Market:
- The global tissue banking market is expected to exhibit a CAGR of 10.8% over the forecast period (2018-2026), and the market growth is attributed to rising government support about tissue banking
- On the basis of tissue type, the heart valve and cornea segment are expected to account for significant share in 2018, attributed to rising prevalence of cardiovascular diseases and eye related disorders. For instance, according to the WHO 2017 report, cardiovascular diseases (CVDs) accounts for 17.7 million deaths each year, globally.
- 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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