Global Tissue Banking Market to Surpass US$ 2.5 Billion by 2026 – Coherent Market Insights

SEATTLE–(BUSINESS WIRE)–#TissueBanking–According to Coherent Market Insights, the global tissue banking market
was valued at US$ 1.04 billion in 2017, and is projected to exhibit a
CAGR of 10.8% over the forecast period (2018–2026).

Key Trends and Analysis of the Tissue Banking Market:

Companies in global tissue banking market are proactively working
towards the research and development to explore new opportunities. In
October 2018, MTF Biologics announced the formation of a new tissue
recovery relationship with Regenerative Biologics, Inc. The
organizations will seek to provide expanded birth-tissue donation
opportunities to expectant mothers and their families and enhance
patients’ access to high-quality placental tissues for wound care
applications.

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Furthermore, in 2017, Natera, announced the launch of 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. The company will offer Evercord through direct sales
channel in the U.S.

Furthermore, in 2017, Americord expanded customer options by offering
placental tissue banking as a stand-alone service, thereby eliminating
the requirement to bank umbilical cord blood.

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Key Market Takeaways:

• The global tissue banking market is expected to exhibit a CAGR of
  10.8% during the forecast period (2018–2026), attributed to rising
  demand for transplantation. According to the University of Texas
  Southwestern Medical Center 2018 report, around 450,000 Americans
  underwent tissue transplants to improve or save their lives and around
  45,000 corneal transplants were done to restore sight. As per the same
  source, over 300,000 bone grafts were expected to be used in the
  treatment of degenerative bone diseases, malignancies, and traumatic
  injuries.
• Asia Pacific tissue banking market is expected to grow at the highest
  CAGR during the forecast period, owing to initiatives taken by
  government to fulfil rising demand and supply gap for tissue banking.
  For instance, in 2017, National Biomaterial Centre (National Tissue
  Bank), was inaugurated at New Delhi, India, which aims to fill the gap
  between demand and supply for tissues. The center will also provide
  quality assurance in the availability of various tissues.
• 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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About Coherent Market Insights:

Coherent Market Insights is a prominent market research and consulting
firm offering action-ready syndicated research reports, custom market
analysis, consulting services, and competitive analysis through various
recommendations related to emerging market trends, technologies, and
potential absolute dollar opportunity.

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