Market Trends of Global Tissue Banking Industry
This section covers the major market trends shaping the Tissue Banking Market according to our research experts:
Medical Research Segment is Expected to Witness Growth Over the Forecast Period
Medical research using tissues generally helps to expand knowledge regarding human biology and helps to develop disease diagnosis techniques, future therapies, and treatment protocols. In addition, conducting research using tissues enables the faster development of more effective, safer drugs and a better understanding of the underlying disease processes that affect humans. Human tissues are the most effective tissues for medical research. They are typically obtained from post-mortem of people who are organ donors, as leftovers from surgery, and through blood or other body fluids. Thus, owing to the increase in the medical research segment, growth is expected over the analysis period.
The increasing use of tissues and the wide applicability of tissues in medical research is one of the key drivers for segment growth. For instance, according to an article published by the Physicians Committee for Responsible Medicine in May 2022, the use of human tissues in scientific research has improved health care by leading to discoveries in disease progression, drug development, and medical procedures. Organs on chips, 3D bioprinting, and other methods that use human tissue instead of animals provide results that translate better to human health.
The source above also reported that human tissues are currently used in many areas of biomedical research, including research on conditions and diseases such as cancer, heart disease, diabetes, Alzheimer's disease, and other dementias, and for the treatment of conditions such as Parkinson's disease and multiple sclerosis. Human tissue is also used in microfluidic systems for toxicology testing and as biosensors for detecting biological or chemical hazards. Thus, owing to the upsurge in medical research, the demand for tissue banking is increasing. This is further expected to fuel the segment's growth.
North America is Expected to Hold a Significant Share of the Market
North America is expected to dominate the overall tissue banking market over the forecast period. The growth is due to factors such as increasing research activities, a rise in chronic diseases, and an increasing number of pharmaceutical companies in the North American region.
As tissue banks provide donor screening, recovery, processing, storage, and/or distribution of allograft tissue, the increasing prevalence of heart diseases among chronic diseases is creating demand for tissue banks in the United States. According to the July 2022 update by CDC, heart disease is common among the population of the United States, and coronary heart disease was the most common type of heart disease which affected nearly 20.1 million adults aged 20 or above in 2020.
In addition, according to the report published by the Government of Canada in August 2021, more than 3.0 million Canadians, or 8.8% of the population were diagnosed with diabetes in 2020, and 6.1% of Canadian adults are at high risk of developing diabetes in the upcoming years. It also reported that the increasing prevalence of diabetes in Canada and the negative impacts of COVID-19 on people with diabetes have underscored the importance of continued investment in diabetes research, treatment, and prevention. Therefore, such a scenario is expected to propel market growth in North America.
Key product launches, high concentration of market players or manufacturers, acquisitions, and partnerships among major players are among the factors driving the growth of the tissue banking market in the country. Additionally, government organizations are heavily investing in various tissue-banking projects, which is further fueling the market growth.
For instance, in October 2021, the National Human Genome Research Institute planned to expand existing gene expression resources to include developmental tissues by awarding USD 38.5 million over five years to the Developmental Genotype-Tissue Expression (dGTEx) project. This project aims to build a widely available tissue bank and database with information about human developmental gene expression in many types of tissues from children for use in basic and clinical research in the United States. Such investments are expected to contribute to the overall, market growth in the region. Therefore, owing to increasing investments and the prevalence of various diseases, the studied market is anticipated to witness growth in North America.
