Amniotic Membrane Market is Likely To Expand By Exhibiting A Striking CAGR Of ~10% During 2019 – 2027February 23, 2021
Transparency Market Research (TMR) has published a new report on the amniotic membrane market for the forecast period of 2019-2027. According to the report, the global amniotic membrane market was valued at ~US$ 980 Mn in 2018 and is projected to expand at a CAGR of ~10% from 2019 to 2027.
Global Amniotic Membrane Market: Overview
- The amniotic membrane is a thin tissue that covers the fetal side of the placenta. Human amniotic membranes have been used for more than 100 years as a biomaterial for the surgical reconstruction of different tissues because they promotes wound healing.
- The two primary types of amniotic membranes are cryopreserved amniotic membranes and lyophilization amniotic membranes.
- Growth of the global amniotic membrane market can be attributed to increase in the number trauma cases, burn injuries, and other accidental cases where amniotic membranes can be used for wound healing.
- North America dominated the global amniotic membrane market in 2018, and the trend is anticipated to continue during the forecast period. Increase in the incidence of trauma cases and accidents, and rise in the number of FDA approvals and product launches in the U.S. contribute to North America’s leading share. Moreover, the presence of well-developed healthcare infrastructure and leading companies fuel the growth of the amniotic membrane market in the region.
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- Asia Pacific is expected to be a highly lucrative market for amniotic membranes during the forecast period. The amniotic membrane market in the region is likely to expand at a high CAGR from 2019 to 2027.
Increase in Research on Stem Cell Biology & Regenerative Medicine to Drive Market
- Several regenerative medicines for orthopedics and wound healing have received U.S. FDA approval, and many are currently being studied in preclinical and clinical stages. Amniotic membranes along with their epithelial and mesenchymal stem cells are an appropriate source for regenerative medicine and skin tissue engineering.
- In May 2019, a team from the University of Alexandria, Egypt, began research on the therapeutic efficiency of human amniotic membrane plugs in promoting the closure of large macular holes.
- A number of players are also investing in the improvement of the efficiency of amniotic membranes for wide acceptance.
- Increase in research on amniotic membranes as a regenerative medicine is projected to drive the global amniotic membrane market.
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Cryopreserved Amniotic Membrane Products to Dominate Market
- The cryopreserved amniotic membrane segment dominated the global amniotic membrane market in 2018, and the trend is likely to continue during the forecast period.
- Using a cryopreserved amniotic membrane is the first-line approach in an ocular surface surgery, owing to its positive effects on wound healing and anti-inflammatory properties.
Ophthalmology to be Promising Application
- In terms of application, the global amniotic membrane market has been classified into surgical wounds, ophthalmology, and others
- The surgical wounds segment dominated the global amniotic membrane market in 2018. Rise in the number of injuries while playing sports and due to falls is likely to drive the segment.
- Growth of the ophthalmology segment can be attributed to increase in the number of ophthalmic indications.
Hospitals Account for Major Share of Global Market
- The hospitals segment dominated the global amniotic membrane market in terms of revenue in 2018, and the trend is projected to continue during the forecast period.
- Growth of the segment can be attributed to rise in hospitalization rates and wide range of services offered at a single site.
North America to Dominate Global Amniotic Membrane Market
- North America accounted for a major share of the global amniotic membrane market in 2018, owing to the introduction of new products, increase in regulatory approval of amniotic membranes, and rise in the usage of these membranes for wound healing in countries such as the U.S.
- The amniotic membrane market in Asia Pacific is likely to expand at a high CAGR from 2019 to 2027. Significant growth of the amniotic membrane market in the region can be attributed to increase in the incidence of trauma cases, accidents, and burn injuries, and rise in the demand for wound healing therapeutics.
Global Amniotic Membrane Market: Competitive Landscape
- MiMedx, Integra LifeSciences, and Osiris Therapeutics, Inc. are the leading players in the global amniotic membrane market.
- The global amniotic membrane market is fragmented in terms of number of players. Key players in the global amniotic membrane market include Amnio Technology, LLC, Katena Products, Inc., MiMedx, Skye Biologics, Inc., Integra LifeSciences, Applied Biologics, Human Regenerative Technologies, LLC, Tissue Tech, Osiris Therapeutics, Inc., and Stryker.
- New product development through robust R&D activities and mergers & acquisitions are the key strategies adopted by these players to expand in the global amniotic membrane market.