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Nuclear power plants are like big machines that make electricity using a special process called nuclear fission. This process involves breaking apart uranium atoms, and the heat produced turns water into steam. This steam spins a turbine, which then powers generators to create electricity. In 2018, about 10.15% of the world's electricity came from nuclear power. The World Nuclear Industry Status Report from 2019 says that by September of that year, there were 415 nuclear reactors working worldwide. Also, as of July 2019, there were 46 nuclear power plants being built globally. Many countries, including the US, China, and Russia, are putting efforts into building new nuclear power plants and upgrading the existing ones. For example, China is constructing nuclear power plants like Fuqing units 5 and 6 in the Fujian province to generate electricity and meet the growing demand in China.
In these nuclear power plants, control valves play a crucial role. They are used in different parts of the plant to control the systems that manage the steam turbine and control the flow of water, cooling water, and chemicals. Control valves are also responsible for regulating and directing the pressure of water and steam. Installing new control valves in existing nuclear plants is a smart and cost-effective way to maintain them rather than building entirely new ones. This not only saves money but also ensures that the nuclear power plant operates efficiently and safely.
So, the growth in building and upgrading nuclear power plants is expected to boost the global market for control valves in the coming years. As more countries focus on nuclear power as a source of electricity, the demand for control valves to keep these plants running smoothly is on the rise. This, in turn, is likely to drive the growth of the global control valves market during the forecast period.
Covered Aspects:
| Report Attribute/Metric | Details |
|---|---|
| Segment Outlook | Type, Tissue Type, Application, and Region |
Tissue Banking Market Highlights:
Global Tissue Banking Market Overview
Tissue Banking Market size was valued at USD 1.36 billion in 2022. The tissue banking market industry is projected to grow from USD 1.46 billion in 2023 to USD 3.42 billion by 2032, exhibiting a compound annual growth rate (CAGR) of 8.5% during the forecast period (2024 - 2032). The increased incidence of cardiovascular disease, cancer, diabetes is driving the market growth.
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Tissue Banking Market Trends
- Increasing prevalence of cardiovascular, cancer, and diabetes disease boosts the market growth.
The increasing prevalence of chronic diseases such as cancer, heart disease, and diabetes disease majorly impact all over the world as well as raises the demand for advanced treatment alternatives for the treatment of chronic disease. As rising risk of chronic disease seems the best treatment alternative for tissue banking. In addition, as per the American Cancer Society, approximately 1.9 million new cases of cancer were diagnosed in the US. Furthermore, heart disease is considered as the leading cause of death for women and men. One person dies every 33 seconds in the US from cardiovascular disease. Approximately 4,66,566 people suffered from heart disease in the US. Heart disease costs the US around USD 239.9 billion every year from 2018 to 2019. Thus, the rising prevalence of heart disease cancer, and diabetes is increasing the demand for tissue banking so key players are keenly interested in the research and development activity for new product development which propels the growth of tissue banking.
Tissue Banking Market Segment Insights
Tissue Banking Type Insights
The Tissue Banking Market segmentation, based on type, includes media and consumable, cryopreservation equipment, thawing equipment, quality control equipment, and others. The media and consumable segment are to hold the majority share in 2022 in the Tissue Banking Market revenue due to the launch of new products in the market. For instance, in May 2022, the major US report of selective fertility preservation outcomes to date found that 70% of women who froze eggs when they were youthful than 38 as well as defrosted at least 20 eggs at a future date.
January 2021: Biomedical research is stayed by National Investigation Agency (NIA) through numerous programs that expect studying ageing in animal models. Non-human primates (NHPs) are important models for probing the biology of aging, including the effects of environmental and social determinants.
Tissue Banking Tissue Type Insights
The Tissue Banking Market segmentation is based on tissue types that include heart valve, cornea, bone, skin, brain & spinal cord, and others. The heart valve segment has dominated the market in 2022 due to the increasing prevalence of heart disease across the globe. For instance: As per the British Heart Foundation in 2023, around 200 million population suffer from coronary heart disease. Globally 80 million and 110 million men had coronary heart disease.
October 2019: Regenerative Biologics, Inc. announced the partnership with male-to-female (MTF) Biologics for the formation of new tissue recovery. The organizations were requested to provide expanded birth-tissue donation opportunities for eager mothers and their families and increase patients’ access to the best quality placental tissues for wound care applications.
Tissue Banking Application Insights
The Tissue Banking Market segmentation is based on applications that include therapeutics, medical research, and others. The therapeutics segment has dominated the market in 2022 due to the development of novel therapeutics for the treatment of various chronic diseases as well as growing research and development activity for the new products.
February 2022: Merck announced the organizational transformation of the life sciences sector to boost CDMO offerings as well as increase business growth. By this organizational transformation the company strengthens its business growth.
Figure 2: TISSUE BANKING MARKET, BY APPLICATION, 2024 & 2032 (USD BILLION)
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
Tissue Banking Regional Insights
By Region, the study segments the market into North America, Europe, Asia-Pacific, and Rest of the World. North America accounted for the largest market share in 2022 owing to the North Americas is expected to command the largest market share due to the increasing tendency of egg frozen in the US, availability of advance technology, increasing healthcare infrastructure, developed economic condition boos the growth of tissue banking in the North America region.
Further, the major countries studied are the U.S., Canada, Germany, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
Figure 3: TISSUE BANKING MARKET, BY REGION, 2024 & 2032 (USD BILLION)
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
Europe tissue banking market is expected to account for the second-largest market share due to the growth of the market are increasing technological development and product innovation, rising research and development activity, increasing occurrence of life threating disease such as heart disease, cancer, and others. Furthermore, increasing numbers of organ donors across the region is driving the growth of tissue banking. Furthermore, the Germany tissue banking market held the largest market share in 2022 and UK tissue banking market is the fastest growing market in the Europe region.
The Asia-Pacific tissue banking market is expected to grow at a CAGR of 6.90% from 2019 to 2032. This is due to increasing investment by foreign companies, huge chronic disease population, increasing penetration of frozen eggs are driving the growth of tissue banking in the Asia-pacific region. Moreover, Japan tissue banking market held the largest market share in 2022 and India tissue banking market is the fastest growing market in the Asia-Pacific region.
The Rest of the World includes the Middle East, Africa, and Latin America. Latin America holds the major market share in the middle east and Africa region due to the region’s growth is attributed to a growing use of tissue banking, rising awareness about the organ donation for saving other life, growing new technological development and advance medical facility across the region are boost the growth of tissue banking in region.
Tissue Banking Key Market Players & Competitive Insights
The Tissue Banking Market is distinguished by the presence of numerous global, regional, and local players catering to the increasing need for products in the emerging threat. Moreover, factors such as the increasing threat of bioterrorism, growing awareness of the potential for pandemics, and advances in biotechnology have made it possible to develop new and more effective tissue banking products. Moreover, the numerous pipeline products are responsible for the intense competition and huge opportunities during the forecast period.
Additionally, manufacturers are entering into strategic alliances such as acquisitions, mergers, collaborations, product launches, and product approvals. These strategic alliances are creating intense rivalry for the newcomer as well as for the existing brand.
Thermo Fisher Scientific Inc specializes in various biotechnology products such as analytical instruments, laboratory supply chain programs and e-commerce, laboratory equipment, lab services, specialty diagnostics, and others. The company helps its customers accelerate life sciences research, solve complex analytical challenges, improve patient diagnostics, deliver medicines to the market, and increase the productivity of the laboratory. It has five premier brands, namely, Thermo Scientific, Applied Biosystems, Invitrogen, Fisher Scientific, and Unity Lab Services through which it offers an unmatched combination of innovative technologies, purchasing convenience, and comprehensive services.
Key Companies in the Tissue banking Market Include.
- Thermo Fisher Scientific Inc. (US)
- Sigma-Aldrich Co. (US)
- BioLifeSolutions (US)
- Lifeline Scientific (US)
- BioCision, Cesca Therapeutics, Inc. (US)
- core dynamics GmbH (US)
- Custom Biogenic Systems (US)
- Atlanta Biologics Pvt. Ltd. (US)
- Taylor-Wharton (US)
- Panasonic Holdings Corporation (Japan)
Tissue Banking Industry Developments
April 2022: Avantor Korea announced collaboration with kyung Hee University Medical Centre (KHMC) Medical Science Research Institute. Through this collaboration the company strengthens its business as well as expand their product portfolio.
March 2017: Natera announced the new launch of Evercord which is provide keen parents to store, collect, and potentially retrieve their newborn’s cord, blood, and tissue for therapeutic use in regenerative medicine and transplantation applications.
Tissue Banking Market Segmentation
Tissue Banking Type Outlook
- Media and Consumable
- Cryopreservation Equipment
- Thawing Equipment
- Quality Control Equipment
- Others
Tissue Banking Tissue Type Outlook
- Heart Valve
- Cornea
- Bone
- Skin
- Brain & Spinal Cord
- Others
Tissue Banking Application Outlook
- Therapeutics
- Medical Research
- Others
Tissue Banking Regional Outlook
- North America
- US
- Canada
- Europe
- Germany
- France
- UK
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- Australia
- South Korea
- Rest of Asia-Pacific
- Middle East and Africa
- Middle East
- Africa
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