Tissue banks facilitate the collection and banking of freshly-frozen tissue specimens. These tissues play a vital role in research into diseases and disorders, and general healthcare. They can be used to repair damaged heart muscles post-heart attacks, in skin replacement for burn victims, and in the treatment of spinal cord injuries, among other significant applications. The advancement of clinical trials and biomedical research in organ transplantation has created many prospects for tissue preservation and banking.
The global tissue banking market is segmented on the basis of products, services, applications, and geographies. Based on products, the tissue banking market is categorized into equipment, consumables, media, and accessories. The tissue banking market, by services, is segmented into screening, tissue retrieval, testing, processing, quarantine storage, and other services. The market, by application, is segmented into biobanking, regenerative medicine, drug discovery, therapeutics, and other applications.
Significant growth in the preservation of tissues owing to tremendous advancement in medical research, clinical trials, and biopharmaceutical industries has boosted the market for tissue banking products and services. In addition, advances in regenerative medicine, biobanking, and drug discovery, increased investments by governments and non-government and corporate organizations, and advances in the treatment of cell and tissue disorders are factors expected to boost the growth and development of the tissue banking market.
However, the high expenses stemming from expensive equipment and requirement of media in large quantities, issues related to stability, tissue injury, and thawing, regulatory hurdles, reimbursement concerns, and ethical issues are the major factors restraining the growth of this market.
Some major players in this market are Thermo Fisher Scientific, Inc. (U.S.), Sigma-Aldrich Corporation (U.S.), Panasonic Biomedical Sales Europe B.V. (Netherlands), Custom BioGenic Systems (U.S.), Taylor-Wharton International LLC (U.S.), AbD Serotec (a Bio-Rad company) (U.K.), EMD Millipore Corporation (U.S.), Organ Recovery Systems, Inc. (U.S.), BioCision LLC (U.S.), Teva Pharmaceutical Industries Ltd. (Israel), Genzyme Corporation (U.S.), Fisher BioServices, Inc. (U.S.), EPL Archives, Inc. (U.S.), BioStorage Technologies, Inc., AMS Biotechnology (Europe) Limited (U.K.), Eppendorf AG (Germany), and Beckman Coulter, Inc. (U.S.), among others.