Global Tissue Banking Market: Type (Roasted, Crystal, and Dark), Application (Food, Dairy & Frozen products, Beverages, Bakery & Confectionary and others), Source (Barley, Wheat, Rye and Others), Extract (Malt Flours, Dry & Liquid), and Geography

 

Global Tissue Banking Market was valued at US$ 1,056.5 Million in 2021 and is anticipated to grow at US$ 2,903.4 Million till 2028 recording a CAGR of 12.1% during the forecast period 2022-2028. Rise in demand for regenerative medicines, the prevalence of cancer, diabetes, cardiovascular diseases, and other diseases related to change in life style, technological advancements in the tissue storage technologies, increasing healthcare expenditure, enhanced awareness regarding tissue donation, and establishment of various tissue banks are the major factors driving the growth of the global tissue banking market over the forecast timeframe. The growing elderly population, as well as the increased prevalence of cancer, diabetes, cardiovascular disease, and other lifestyle disorders, are driving the worldwide tissue banking market. For persons of most races in the United States, including African-Americans, Hispanics, and Caucasians, heart disease is the top cause of mortality. According to the Centers for Disease Control and Prevention, over 610,000 individuals die in the United States each year as a result of heart disease, accounting for one out of every four deaths. Coronary heart disease (CHD) is the leading cause of death in the United States, killing approximately 370,000 individuals each year. Technological advances in the field of tissue banking have resulted in new and novel products such as ultra-low freezers and automated freezers, which can store nearly one billion samples at a very low temperature around the world.