Increasing surgical demands for allografts, demand for bone graft in hip replacements, and femoral head allografts, and increasing incidences of burn patients are the main factors for the growth of the tissue banking market. According to WHO March 2018 report, about 180,000 deaths are caused by burns every year, majority of the cases occur in low and middle income countries. Moreover, aging population is prone to chronic diseases, such as age-related macular degeneration (AMD), glaucoma, and diabetic retinopathy.
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Private and public organizations are playing crucial role in fulfilling the gap between demand and supply of tissue. For instance, in 2017, MTF Biologics distributed over 550,000 tissue grafts, which was made possible through the selfless donation by 5,700 individuals. These transplantable tissues helped to heal an estimated 400,000 lives in over 50 countries.
Dearth of highly trained professionals to maintain the tissue banks is the major restraining factor for growth of the tissue banking market. For instance, according to ALZFORUM 2018 report, over the last 50 years, the number of neuropathologists on staff at the Netherlands Brain Bank dropped from 65 to about 15.
On the basis of region, the global tissue banking market is segmented into North America, Latin America, Europe, Asia Pacific, Middle East, and Africa. Europe tissue banking market is expected to generate significant revenue share during the forecast period, owing to increasing government support. For instance, NHS Blood and Transplant (NHSBT) is a special health authority with responsibility for blood, organ, and tissue donation within the U.K.
Asia Pacific tissue banking market is anticipated to grow at the highest CAGR during the forecast period, owing to initiatives by government to fulfil rising demand and supply gap for tissue banking. In 2017, National Biomaterial Centre (National Tissue Bank), was inaugurated at New Delhi, India, which aims to fill the gap between demand and supply of tissues. The center will also provide quality assurance in the availability of various tissues. According to Health Ministry of India, the national level tissue bank will fulfill the demands of tissue transplantation including activities for procurement, storage, and fulfill distribution of biomaterials.
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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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