The global tissue banking market is majorly driven by an increasing number of biobanking technologies that has improved in the areas of science such as biospecimen and biorepository. The usage of robotic sample handling and software designed for storage management makes the biobanking process more effective. With the rising in the harmonization of biobanks and research collaboration, the tissue banking industry is anticipated to grow at a significant rate during the forecast period. Newly established biobanks collaborate with each other to enhance the existing tissue banking potentials. Biobanks are the place that stores human biological samples for future use. It is called as biorepositories, bioresources, and tissue banks.
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One of the largest cord blood & tissue bank of Australia in 2018 completed the acquisition of the largest private cord blood & tissue bank of Canada, Inspection Lifebank. The combined entity creates one of the top 10 companies of the globe in the tissue banking industry. Together, these banks store more than 100,000 client samples and establish an excellent platform for further international expansion. With this collaboration, the two companies are provided with a stronger base from which to expand current clinical trials and R&D activities across the globe. The merger between these two tissue banks creates an ample opportunity to bring together cord blood innovators and research potential new therapy opportunities; thereby, they tend to drive the global tissue banking market in the near future.
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LifeLink Tissue Bank is a division of LifeLink Foundation, Inc. based in Tampa, Florida. The tissue bank in September 2017, has established a new distribution partnership HCT Regenerative, in which allografts for patients suffering from sports, orthopedic and/or spine injuries will be provided by LifeLink Tissue Bank. HCT Regenerative is a Taiwan-based company, incorporated in July 2016. It is the first company in Taiwan focusing on processing human tissue for producing regenerative biomaterials for clinical use. LifeLink will procure and provide some bone and tissues to HCT for use in its operations. Such collaboration in the tissue banking industry is expected to catalyze the market in the near future.
Global Tissue Banking Market- Segmentation
By Product
- Equipment
- Consumables & Media
By Application
- Medical Research & Drug Development
- Therapeutics
- Others
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