According to the market research report “Tissue Banking Market Analysis: By Tissue (Bone, Skin, Heart Valves, Soft tissues, Corneas, Umbilical Cord); By Equipment (Cryopreservation systems, Thawing equipment and others); By Application (Clinical, Cosmetic, Research) & By Geography – Forecast(2016-2021)”, published by IndustryARC, the global tissue banking market is estimated to reach $48.1 billion by 2021.
Tissue banks are generally used to store human tissue such as blood, bone, heart valves, skin, cornea, blood vessels and soft tissues which can be utilized later on to cure different disorders such as neurological diseases, cardiovascular, cancer, diabetes mellitus and other autoimmune diseases. The process of extracting the tissue and integrating it into the living body is known as grafting.
The grafting is primarily performed under three different conditions namely Allotransplantation, Autotransplantation and Xenotransplantation.
According to a recent study from IndustryARC, the global tissue banking market estimated to be $34.6 billion in 2015 and is projected to escalate to $48.1 billion by 2021. Tremendous advancements in drug discovery, clinical trials, regenerative medicine, bio-banking, increased investments by governments and private organizations are the factors accelerating the growth and development of the tissue banking market.
The tissues can be extracted from a deceased person or a live person and is solely dependent upon the rightful consent of the donor, or the associated family members. On a global scale, an estimated 133,700 people registered as tissue donors in 2014.
Chronic diseases are the leading cause of death globally. As per the WHO, worldwide deaths due to chronic diseases and disease burden rates have 45% and 86% share respectively under the 70 years of age group.
Tissue banking is a novel way to treat myriad of chronic diseases including blood disorders, immune diseases and in the development of regenerative medicine. Stem cells, which have a property to differentiate into specialized type of cells, can be used for specific purposes like cell based therapies and drug screening and have capability to treat more than 80 diseases.
The collection and storage of cord blood at time of baby birth is gaining popularity due to the rich source of stem cells and its use in the treatment of various medical conditions. Bone grafts for instance can be used to enhance orthopaedic repairs and improve bone healing.
Tissue banks provide a completely new perspective on dynamic and functional aspect of diseases by providing detailed information on gene and protein expression patterns that will drive the market in future.
Recently, in April, 2015, BioStructures LLC announced that they received FDA clearance for their new Silhouette Bone Graft which allows improved introduction of autogenic bone marrow aspirate, allowing for improved healing. Additionally, in April, 2015, Professor Grima from University of Malta proposed a model under which skin grows fat when stretched.
Since the amount of skin to be removed for grafting is limited, it is a problem in cases of treating large areas. So, this could prove to be a breakthrough in the field of skin grafting for it can solve the problem of limited skin availability.
Human tissues are used for medical research to help scientists understand the root cause of disease and also help in finding new ways of diagnosing and treating a disease. There are different types of research studies underway, which are associated with human tissues such as testing new treatments for heart diseases, diabetes and other such diseases, to understand the working of immune system, to study the working of stem cells and so on.
According to Industry ARC analysis, the skin & soft tissue market is expected to grow at a CAGR of 7.98% & 4.9% respectively and total tissue banking market is expected to reach $45.5 billion by 2020.
The key global players in tissue banking market are
CCLG tissue bank
Taylor-Wharton International LLC
Tecan Group Ltd
Biocision LLC
Thermo fisher Scientific
All the 5 companies hold a significant market share in the industry globally with a few smaller players showing presence regionally.
