Tissue Banking Market Growth Accelerated by Increasing Demand for Tissue Replacement Therapies

Tissue banking refers to the storage of human tissue for medical use. Some of the key tissues preserved are bone, skin, heart valves, veins etc. Tissue banking helps store and preserve human donated tissues and make them available for transplantation, research and other medical therapies. With growing prevalence of chronic diseases and increasing occurrence of trauma injuries, there is a rising demand for organ and tissue replacement therapies. This has propelled the need for proper preservation of tissues for future use. 

Market key trends:

The increasing demand for tissue replacement therapies is one of the key trends driving the tissue banking market growth. With higher life expectancy and aging population across the world, diseases like cardiovascular disorders and osteoarthritis have increased manifolds in past years. This has led to growing number of joint replacement surgeries, cardiac bypass procedures and other transplant therapies using preserved tissues like bone, skin and heart valves. According to recent estimates, over 600,000 knee and hip replacement surgeries are performed annually in the US alone. This substantial demand for transplantable tissues is a major factor boosting the tissue banking market.

Segment Analysis

The global tissue banking market is dominated by the musculoskeletal segment which accounts for the largest share. This is due to the large number of orthopedic procedures carried out annually which require tissue grafts. The musculoskeletal tissues include tendons, ligaments, cartilage, and bone tissue which are commonly stored at tissue banks for future need in surgical procedures.

Key Takeaways:

The Global Tissue Banking Market Demand is expected to witness high growth over the forecast period of 2023-2030.

Regional analysis: North America currently dominates the global tissue banking market owing to presence of sophisticated healthcare infrastrucure and high adoption of advanced treatment procedures. However, Asia Pacific region is expected grow at the fastest pace during the forecast period due to growing medical tourism industry in countries like India and China coupled with increasing healthcare expenditure.

Key players operating in the tissue banking market are Thermo Fisher Scientific Inc., CUSTOM BIOGENIC SYSTEMS., Bio-Rad Laboratories, Inc., International Stem Cell Corporation, Genzyme Corporation, Promega Corporation, Agilent Technologies, Inc. The Tissue Genesis, Musculoskeletal Transplant Foundation, Beijing Cancer Hospital & Others.

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