Press release
Increased Efficiency Due to Automation to Boost Global Sales of Tissue Banking Equipment
The report offers essential insights into the dynamics of the global market for tissue banking equipment. It uses various analytical tools to derive the competitive landscape in the market. It segments the market based on several criteria, including product and geography, for a better understanding. The study has been performed for the forecast period between 2016 and 2022.
Tissue banking equipment are used for the storage and handling of umbilical cord tissues and blood. These tissues are said to have the potential to treat various diseases and injuries such as cancer, immune and genetic diseases, and blood diseases. The changing perception of public towards tissue banking and advancements in the techniques used for storage and application of chord tissues are stoking the growth of the global tissue baking equipment market. Besides this, the growing trend of automation in medical research facilities and increasing collaboration between tissue banks and research laboratories are driving the market. The demand for automated tissue banking equipment is gaining traction as it helps in reducing the complications and errors in storage, tracking, and integrity of samples.
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On the basis of product, the global market for tissue banking equipment is segmented into storage systems, freezers, thawing equipment, labelling and coding equipment, and others. Based on end users, the market can be categorized into hospitals, tissue banks, diagnostic laboratories, research and academic institutes, and others. Each segment has been analyzed on the basis of sales volume, growth rate, market share, and revenue.
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From the geographical standpoint, the report divides the global tissue banking equipment market into United States, Europe, China, India, Japan, and Southeast Asia. Europe is anticipated to be a major revenue contributor to the market. The presence of a large number of tissue banks and research centers in the region is escalating the adoption of tissue banking equipment. Moreover, high awareness regarding the merits of stem cells is positively impacting the growth of the market in the region. However, developing regions such as India, China, and most of Southeast Asia will offer immense growth opportunities owing to high unmet medical needs and expanding research facilities.
The global tissue banking equipment market features a highly fragmented vendor landscape. Despite the low scope of product differentiation, the market is primarily dominated by large players. The majority of players are focusing towards automation of existing technologies, mergers, and collaborations with tissue banks and research laboratories to ensure sustainable growth in the market. Some of the prominent companies operating in the global tissue banking equipment market are Merck, Custom Biogenic Systems, Brooks Automation, Hamilton Bonaduz, Beckman Coulter, Bluechiip, Thermo Fisher Scientific, BioLife Solutions, Panasonic Healthcare, and Worthington Industries.
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