The demand for transplants and expanding government initiatives are anticipated to fuel the expansion of the worldwide tissue banking market. According to a 2018 report from the University of Texas Southwestern Medical Center, approximately 45,000 corneal transplants were performed to restore sight, and about 450,000 Americans had tissue transplants to enhance or save their lives. In order to treat severe injuries, cancers, and degenerative bone diseases, over 300,000 bone grafts were anticipated to be required. Other tissues, like cardiac valves, venous grafts, and connective tissue, are also in higher demand. Throughout the projection period, it is anticipated that increasing adoption of cutting-edge tissue banking methodologies would fuel market expansion. To preserve organ and tissue, for instance, the Biothermal Technologies Laboratory at Carnegie Mellon University presented a novel model method for isochoric preservation in August 2022 under the name cryopreservation. The concepts of thermodynamics must be carefully applied in order to cryopreserve tissues and organs without causing harm. Only very small tissues, such embryos and stem cells, have been successfully preserved by cryopreservation.
According to Coherent Market Insights, The market for Tissue Banking is anticipated to reach US$ 1.63 billion in 2022 and grow at a CAGR of 10.8% during the following five years (2022-2030).
Top Companies in the Tissue Banking Industry:
1. BioLife Solutions, Inc.
The business was established in 1987 and is headquartered in Bothell, Washington, United States. Health care product manufacturers include BioLife Solutions, Inc. The company offers bloodstor, cryostor, hypothermosol, and other comparable goods. The first ever non-toxic, non-hazardous, and non-flammable phase change material ("PCM") for ultra-low temperature (ULT) protection, Ultraguard, was announced for release by BioLife Solutions Inc. in March 2023.
2. Beckman Coulter, Inc.
The business was founded in 1935 and has its headquarters in Brea, California, United States. Diagnostic system development, production, and marketing are all done by Beckman Coulter, Inc. The business offers life science tools, early sepsis indicators, and drug monitoring and detection. The business stated in October 2022 that it has acquired StoCastic, LLC, a market-leading artificial intelligence provider of evidence-based decision support for hospital emergency rooms.
3. BioCision LLC,
The company was founded in 2007 and has its main office in Larkspur, California. Tools for standardising sample handling and storage practises are created by BioCision, LLC. The company sells warming platforms, freezing boxes, cooling workstations, cooling racks, and warming plate modules.
4. BioStorage Technologies, Inc.
The business was founded in 2002 and is situated in Indianapolis. For the biotechnology and pharmaceutical industries, BioStorage Technologies, Inc. is the market leader in sample storage, inventory management, and cold-chain logistics. The business supplies biomaterials to be returned the next day and offers secure, temperature-controlled storage, real-time monitoring of stored biological samples.
5. Eppendorf AG,
The company was founded in 1945 and has its main office in Hamburg, Germany. Eppendorf creates, manufactures, and sells tools, supplies, and services for labs. Eppendorf constructed a new facility in Wismar in April 2022 for using high-tech polymers in laboratories. In September 2022, Eppendorf expands its high-tech facility in Jülich and celebrates the topping-out of a multipurpose structure.
6. Merck KGaA
The company has its headquarters in Darmstadt, Germany, and was established in 1668. The corporation is split into the life sciences, electronics, and healthcare sectors. The sale of Merck's Allergopharma subsidiary to Dermapharm for an unknown sum was announced in February 2020. In December 2021, the US and Canadian subsidiaries of the Merck Group, EMD Serono, announced that it will acquire Chord Therapeutics, a Swiss company, along with its flagship drug, cladribine.
7. Teva Pharmaceutical Industries Ltd.
The business was founded in 1901 and has its headquarters in Tel Aviv, Israel. Despite focusing on generic medications, it also has certain subsidiary business interests in pharmaceutical active ingredients and, to a lesser extent, patented medications. According to the Science Based Goals programme, Teva's ambitious climate goals will have obtained external confirmation on January 19, 2023. (SBTi). On January 9th, 2023, Teva announced that the federal opioids deal would pass with support from many states.
Definition: A tissue bank is a facility that gathers and preserves human cadaver tissue for allograft transplantation, medical research, and educational purposes. A tissue bank is sometimes used in a more clinical meaning to describe a facility where biomedical tissue is kept in cryogenic storage.
