Coherent Market Insights

Tissue Banking Market to Surpass US$ 3.70 Bn by 2030

Tissue Banking Market to Surpass US$ 3.70 Bn by 2030 - Coherent Market Insights

Publish In: Sep 02, 2022

Global Tissue Banking Market, by Product (Media and Consumables, and Equipment), by Tissue Type (Bone, Brain & Spinal Cord, Cornea, Heart Valves, Skin, and Others), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) is estimated to be valued at US$ 1.63 Billion in 2022 and is expected to exhibit a CAGR of 10.8% during the forecast period (2022-2030), as highlighted in a new report published by Coherent Market Insights.

Companies in tissue banking market are proactively working towards the research and development of new opportunities. For instance, in 2017, Natera, a leader in genetic testing, launched Evercord, a new offering that enables expectant parents to collect, store, and potentially retrieve their newborn's cord, blood, and tissue for therapeutic use in transplantation and regenerative medicine applications.

Global Tissue Banking Market– Impact of Coronavirus (COVID-19) Pandemic

The COVID-19 pandemic and lockdowns in various countries across the globe have impacted the financial status of businesses across all sectors, including the private healthcare sector. The COVID-19 pandemic has impacted the entire supply chain of the healthcare industry, mainly due to strict lockdown in several regions. Private healthcare is one such sector that has been impacted significantly by the COVID-19 pandemic.

However, the COVID-19 pandemic had a negative impact on the global tissue banking market, owing to decrease in the demand for tissue banking during COVID-19 pandemic. For instance, according to an article published by the National Center for Biotechnology Information, a series of databases relevant to biotechnology and biomedicine, in November 2021, the primary outcome was the decrease in number of corneal procurements. Additional outcomes were national algorithms for donor selection, classified according to their stringency (donors with COVID-19 history, suspected for COVID-19, asymptomatic, PCR testing) and the pandemic severity in each country. The calculated Spearman’s correlation coefficient to determine, two by two, the relationship between the 3-month decline in eye banking activity (procurement), the stringency of donor selection algorithm and the grading of pandemic severity (cases and deaths). Procurements of cornea donation decreased by 38%, 68% and 41%, respectively, in March, April and May 2020 compared with the mean of the previous 2 years, while grafts decreased, respectively, by 28%, 68% and 56% corresponding to 3,866 untreated patients in 3 months. Significant disparities between countries and the decrease in activity correlated with stringency in donor selection independent of pandemic severity. The above data demonstrates significant differences between countries regarding donor screening algorithms based on precautionary principles and, consequently, a decrease in the donor pool, already constrained by a long list of contraindications. Fundamental studies are needed to determine the risk of SARS-CoV-2 transmission by corneal transplantation and guide evidence-based recommendations for donor selection to justify their substantial medical and economic impact. During the period 1st March to 30th April 2020, the key players in the market have observed a general drop in the number of tissue donors that ranged from 33.3% in the Navarra Community to 78.8% in the Basque Country, compared with the average number of tissue donors in the same period three years before. The average drop in number of donors has been from 55.8% in the Banks consulted.

Global Tissue Banking Market: Key Developments

In July 2022, NYU Langone Health, an academic medical center located in New York City, U.S. successfully transplanted two genetically engineered pig hearts into recently deceased humans in June and July, marking the latest advances toward addressing the nationwide organ shortage and developing a clinical protocol that would provide an alternative supply of organs for people with life-threatening heart disease. The surgeries, known as xenotransplants, were performed on June 16, 2022 at NYU Langone's Tisch Hospital. Nader Moazami, MD, surgical director of heart transplantation at the NYU Langone Transplant Institute, led the investigational procedures using hearts procured from a facility hundreds of miles away and transplanted into recently deceased donors maintained on ventilator support.

Browse 38 Market Data Tables and 27 Figures spread through 152 Pages and in-depth TOC on “Global Tissue Banking Market”-  Forecast to 2030, Global Tissue Banking Market, by Product (Media and Consumables, and Equipment), by Tissue (Bone, Brain & Spinal Cord, Cornea, Heart Valves, Skin, and Others), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa)

To know the latest trends and insights related to tissue banking market, click the link below:

https://www.coherentmarketinsights.com/market-insight/tissue-banking-market-2600

Moreover, increasing organ transplantation is expected to drive the global tissue banking market over the forecast period. For instance, in July 2022, Montefiore Health System, Montefiore Medical Center is a premier academic medical center, performed the world’s first HIV-positive to HIV-positive heart transplant. Montefiore is one of only 25 centers in the U.S. eligible to offer this complex surgery, having met prior surgical benchmarks and outcomes set by the Organ Procurement and Transplantation Network. Its Heart Transplantation Team is internationally renowned for spearheading innovative methods, like transplanting a heart from a donor who died after their heart stopped beating– a novel approach that has the potential to save hundreds more people in need of a new heart each year. The goal of the Montefiore heart transplant team is to constantly push and establish new standards so that anyone who is appropriate for an organ transplant can benefit from this life-saving procedure. In the U.S., there are between 60,000 and 100,000 people who could benefit from a new heart, however only around 3,800 transplants were performed in 2021.

Key Takeaways of the Global Tissue Banking Market:

  • The global tissue banking market is expected to exhibit a CAGR of 10.8% during the forecast period due to the increasing adoption inorganic strategies like partnership by the key players in the market is expected to drive the market over the forecast period. For instance, in April 2022, Blood Centers of America (BCA) partnered with the American Association of Tissue Banks (AATB) to provide value to its 125 accredited institutional members with aggregated purchasing power and critical supply management services. BCA is a member-owned cooperative that provides group purchasing services to its members and associates. Now every AATB institutional member establishment has the opportunity to participate in BCA's Group Purchasing Program. The American Association of Tissue Banks (AATB) is a professional, non-profit, scientific, and educational organization. AATB is the only national tissue banking organization in the U.S., and its membership totals more than 120 accredited tissue banks and over 6,000 individual members.
  • Among tissue type, the heart valve and cornea segment are expected to generate significant share in 2022, due to rising prevalence of cardiovascular diseases and eye related disorders. According to the WHO 2017 report, cardiovascular diseases (CVDs) accounts for 17.7 million deaths each year, globally. Furthermore, in June 2022, American College of Cardiology Foundation, Heart transplantation in 2022 is both surprisingly low-tech and high-tech. In a presentation at the 2022 International Society for Heart and Lung Transplantation meeting in May, new data on the SherpaPak cardiac transport system (Paragonix Technologies) showed a one-year survival of 96.4% compared with 88.7% for those who received cold-storage hearts (p=0.03).2 The study included 569 adult heart recipients (from October 2015 to January 2022) and utilized propensity scoring. The United Network for Organ Sharing (UNOS) in 2018 implemented new adult heart and heart-lung allocation criteria aimed at prioritizing the sickest patients and reducing waitlist mortality, while enhancing geographic organ sharing and improving organ distribution equity. The new allocation system moved from a three-tiered system to a six-tiered system, with the use of extracorporeal membrane oxygenation (ECMO) and nondischargeable biventricular assist devices (VADs) defining the patients at highest risk.
  • Major 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.

Need a Custom Report?

We can customize every report - free of charge - including purchasing stand-alone sections or country-level reports


Want to Buy a Report but have a Limited Budget?

We help clients to procure the report or sections of the report at their budgeted price. Kindly click on the below to avail


Logo

Reliability and Reputation

ESOMAR
DUNS Registered
Clutch
DMCA Protected

9001:2015

Reliability and Reputation

27001:2022

Reliability and Reputation

EXISTING CLIENTELE

Created billion dollars of revenue impact on thousands of clients

trusted clients logo
© 2024 Coherent Market Insights Pvt Ltd. All Rights Reserved.