HYDERABAD, India and MINNEAPOLIS, August 3, 2016 /PRNewswire/ --
The Report "Tissue Banking Market Analysis: By Tissue (Bone, Skin, Heart Valves, Soft tissues, Corneas, Umbilical Cord); By Equipment (Cryopreservation systems, Thawing equipment and others); By Application (Clinical, Cosmetic, Research) & By Geography - Forecast (2016-2021)", published by IndustryARC, estimates the market to reach $48,125 Million by 2021.
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Browse - Around 28 Market Tables, 42 Figures spread through 160 Pages and an in-depth TOC on "Global Tissue Banking Market (2016 - 2021)"
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Growth in the government initiatives and funding to drive the market; estimated to reach $48,125 Million by 2021
Tissue banking is the collection and preservation of allograft/autograft tissue from people who died from sudden illness or accident or some other reason. Rising shortage of tissues has led to millions of premature deaths. The feasibility of transplant and trauma procedures is limited not by the availability of donor tissue but by the time required to deliver that tissue to the recipient. Immediate transplant medicine, surgical cancer treatment, the treatment of combat trauma and industrial accidents is thus possible with tissue banking along with ability to prepare for mass casualty events. The global market for tissue banking is segmented based on type, equipment type, service type, end use type and geography.
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The Total Tissue Banking Market was estimated to be $34,673 Million in 2015. This market is led by robust growth in clinical/therapeutic, cosmetic and medical research end use sectors. Clinical/therapeutic end use segment is estimated to continue its dominance in the global tissue banking market during the forecast period. Blood banking is the single largest segment for tissue banking market, mainly due to its significance and frequent requirement coupled with huge base of donor availability. Umbilical cord banking on the other hand is estimated to witness fastest growth during 2016-2021 owing to growing instances of metabolic and genetic diseases. Growth in government funding, advancements in bio banking technology, evolution in regenerative medicine and growing awareness are the other major factors that are driving the tissue banking market globally.
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Americas held the major share in the market mainly driven by increased spending on healthcare, rise in geriatric population and private investments. On the bank of government initiatives, rise in incidences of cardiovascular diseases and increasing per capita income will act as a catalyst for the market in the APAC region. Countries such as Israel, South Africa and Turkey are estimated to foster the market growth in the Rest of World Region making it the fastest growing region during 2016-2021.
The Key Players in this Market Include:
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Top Five Companies held more than 40% of the market share in 2015. The growing number of start-ups coupled with technological advancements is estimated to however shift the market share slightly from key players to smaller companies. Furthermore, the entry of cloud competitors into the market will lead to competitive development of innovative software and solutions. Acquisitions and expansion are few of the growth strategies of the key players in the industry who are striving to increase their market share.
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