Market Overview

Tissue Banking Market is anticipated to reach US$ 2,903.3 Mn by 2026, Says TMR

Share:

Albany, New York, Sept. 03, 2018 (GLOBE NEWSWIRE) -- Transparency Market Research (TMR) has published a new report titled, "Tissue Banking Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2018–2026". According to the report, the global tissue banking market was valued at US$ 162.3 Mn in 2017 and is anticipated to reach US$ 2,903.3 Mn by 2026, expanding at a CAGR of 12.0% from 2018 to 2026. Increasing demand for regenerative medicines, advancements in bio banking technology, increasing health care expenditure, and rising awareness are likely to fuel the global tissue banking market from 2018 to 2026.

Request to View Sample of Report - https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=14681

Increasing demand for regenerative medicines to propel market

Regenerative medicine is the process of creating living, functional tissues in order to repair or replace tissue, which has been lost due to age, disease, damage, or congenital defects. Regenerative medicine has the potential to solve the problem of shortage of organs available through donation. Rapid development of transplant medicine along with the aging of the baby boomer generation has fueled the demand for tissues and organs far exceeding the available donor organs. Approximately 500,000 people in the U.S. benefit from a transplant each year. Regenerative medicine is expected to improve the quality of life of individuals by providing healthy, functional tissues and organs. This is likely to propel the tissue banking market during the forecast period.

Request PDF Brochure of Report: https://www.transparencymarketresearch.com/sample/sample.php?flag=B&rep_id=14681

Advancements in biobanking technology

Advancements in biobanking technology have improved the new areas of science such as biorepository and biospecimen science. Usage of robotic sample handling and processing, along with software specifically designed for storage management in the facilities is anticipated to make the biobanking process easy and effective, as biobanking expands. For instance, in July 2018, PHC Corporation introduced the new -85°C ultra-low temperature freezer VIP ECO series 1 using natural refrigerants 2 and new inverter compressors for the market in Japan.

Request For Discount On This Report: https://www.transparencymarketresearch.com/sample/sample.php?flag=D&rep_id=14681

Stringent regulatory requirement to restrain market

The complexity and novel applications of human cells, tissues, and cellular and tissue-based products (HCT/Ps), however, presents potential risks. The U.S. Food and Drug Administration has established a tiered, risk-based regulatory structure, in which more rigorous controls and safeguards are required for products. The proposed good tissue practices (GTPs) are intended to prevent contamination with infectious disease agents and to ensure that these cells and tissues maintain their integrity and function. These requirements are estimated to present significant challenges for clinician-investigators and laboratories. Product approvals and launch of medical devices are governed by various regulations established by the U.S. FDA and other regulatory bodies operating in each country. The U.S. FDA continues to increase testing and documentation required for the clearance of devices. Similar regulations are noted in the European Union (EU), Japan, and China. The various levels of approval processes can delay the product release in the market, which is likely to have a negative impact on revenue.

Read Press Release: https://www.transparencymarketresearch.com/pressrelease/tissue-banking-market.htm

Market in Asia Pacific to register exponential growth

In terms of revenue, the tissue banking market in Asia Pacific is expected to expand at a CAGR of 13.2% during the forecast period. Increase in product launches is expected to drive the tissue banking market in Asia Pacific. Increase in collaborations to promote tissue banking in the region and rise in awareness about the benefits of tissue banking among people in developing countries such as India is likely to drive the market in Asia Pacific. For instance, in March 2016, Panasonic Healthcare Co., Ltd. launched the new multi-gas incubator, MCO-170M Ideal, for various cell culture needs that require CO2 and sub-ambient or above-ambient oxygen control.

Thermo Fisher Inc., Brooks Automation, Custom Biogenic systems Inc., and Beckman Coulter, Inc. to lead the market

The report also provides profiles of leading players operating in the global tissue banking market, which include 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., and Hamilton Company.

More Trending Reports by Transparency Market Research -

About TMR

Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company's exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR's experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.

Contact
Mr. Nachiket Ghumare
Transparency Market Research
State Tower
90 State Street,
Suite 700,
Albany, NY - 12207
United States
Tel: +1-518-618-1030
USA - Canada Toll Free: 866-552-3453
Email: sales@transparencymarketresearch.com
Website: http://www.transparencymarketresearch.com

Research Blog: http://theglobalhealthnews.com/

Transparency Market Research.jpg

View Comments and Join the Discussion!
 

Latest Ratings

StockFirmActionPT
JBLGoldman SachsUpgrades0.0
IMOBarclaysUpgrades0.0
JRVRKeefe Bruyette & WoodsDowngrades40.0
ADMPB. Riley FBRDowngrades2.5
EAFVertical GroupDowngrades9.0
View the Latest Analytics Ratings
Don't Miss Out!
Join Our Newsletter
Subscribe to:
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Daily Analyst Rating
A summary of each day’s top rating changes from sell-side analysts on the street.
Fintech Focus
Your weekly roundup of hot topics in the exciting world of fintech.
Thank You
for registering for Benzinga’s newsletters and alerts.
• The Daily Analysts Ratings email will be received daily between 7am and 10am.
• The Market in 5 Minutes email will be received daily between 7am and 8am.
• The Fintech Focus email will be received every Friday between 2pm and 5pm.