Tissue Banking Market Offering Deep Insight Related to Growth Trends Until 2028

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Tissue Banking Market
Tissue Banking Market

The process of gathering, processing, storing, and distributing transplantable human tissues is known as tissue banking. Tissues taken from the human body are utilised to repair or replace sick or missing tissues in the human body. Cornea, bones, fascia, heart valves, skin, cartilage, joints, tendons, and duramater from human cadavers are among the most commonly extracted and used tissues.

The global Tissue Banking Market was valued at US$ 1.04 billion in 2017 and is predicted to grow at a CAGR of 10.8 percent between 2018 and 2026. The global tissue banking market is divided into five regions: North America, Latin America, Europe, Asia Pacific, the Middle East, and Africa. Due to increased government assistance, the European tissue banking market is likely to produce a large revenue share during the forecast period. For example, NHS Blood and Transplant (NHSBT) is a special health authority in the United Kingdom that is responsible for blood, organ, and tissue donation.

Tissue banking is a sophisticated system that requires a high level of technical competence and qualified employees to operate properly in a dedicated facility. Minor deviations from the approved protocol can result in the loss of valuable tissues, injury to recipients, and an increased risk of illness and tumour transmission. Tissue scarcity is another important stumbling block to the Tissue Banking Market expansion. According to the Organ Procurement and Transplantation Network (OPTN), over 119,000 men, women, and children in the United States awaited lifesaving organ transplants in 2016, with over 8,000 individuals dying each year owing to a dearth of available organs.

Due to government initiatives to meet rising demand and supply gaps for tissue banking, the Asia Pacific Tissue Banking Market is expected to grow at the fastest CAGR over the forecast period. The National Biomaterial Centre (National Tissue Bank) was established in New Delhi, India, in 2017 with the goal of bridging the gap between tissue demand and supply. The centre will also ensure that varied tissues are available in good condition. The national level tissue bank, according to the Indian Ministry of Health, would meet the demands of tissue transplantation, comprising activities such as procurement, storage, and distribution of biomaterials.

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