The “Global Amniotic Membrane Market” is estimated to be Valued at USD 1,210.9 Mn by 2023 and is Expected to Register a CAGR of 12.16% During the Forecast Period 2018-2023. The Market Show as Industry Updates, Size, Share, Segmentation and Sub- Segmentation by 2023
Amniotic Membrane Market: Highlights
Amniotic membrane finds application in surgical wounds, prenatal diagnostic application, ophthalmology, stem cell biology, and regenerative medicine. Biologically active cells in the epithelial and stromal layers of the amniotic membrane promote growth factors and cytokines due to which they are helpful in treatment procedures. Additionally, their anti-inflammatory, anti-immunogenic, anti-fibrotic, and anti-bacterial properties make them more desirable.
Amniotic membrane transplantation is currently being utilized for a broad spectrum of ophthalmic conditions. It has demonstrated its efficacy as a method of reconstruction of the ocular surface.
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The rise in global geriatric population is primer driver of the global amniotic membrane market. The aged population is more prone to disorders of the outer eye, corneal defects, and various other ocular surface conditions. In addition, increasing patient population and rising healthcare expenditure across the globe also boosts the growth of the global amniotic membrane market.
Significant new developments in clinical outcomes and expanding application range of amniotic membrane are likely to augur the growth of the global amniotic membrane market over the forecast period.
However, the growth of the global amniotic membrane market is constrained by concerns arising out of indiscriminate use of human amniotic membrane as there lies risk of complications such as transmission of bacterial, viral or fungal infections to the recipient if the donors are not adequately screened for communicable diseases, or due to improper storage of amniotic membrane. Lack of awareness regarding amniotic membrane transplant is also a limiting factor in the growth of the global amniotic membrane market.
Amniox Medical, Inc., Skye Biologics Inc., Derma Sciences Inc., Human Regenerative Technologies, LLC, Tissue-Tech Inc., FzioMed, Inc., Alliqua BioMedical, MiMedx Group, Inc., IOP Ophthalmics, APPLIED BIOLOGICS, and Amnio Technology are the eminent players in the global amniotic membrane market.
The global amniotic membrane market has been segmented based on type, application, and end-user.
By type, the global amniotic membrane market has been segmented into Cryopreservation Amniotic Membrane, Lyophilized Amniotic Membrane, and others.
By application, the global amniotic membrane market has been segmented into surgical wounds, ophthalmology, stem cell biology, and regenerative medicine.
By end user, the global amniotic membrane market has been segmented into hospitals, ambulatory surgical centers, specialized clinics, research centers, and laboratories.
In October 2018, BioStem Life Sciences, a company focused on the development of placental-based amniotic tissue products, announced that it had entered the amniotic membrane market with four placental-derived tissue products. The new products can be utilized for multiple indications within the ophthalmology, orthopedic and advanced wound care markets. The four products include an amniotic tissue allograft flowable matrix, an amniotic tissue allograft membrane with chorion layer, a chorion-free amniotic tissue allograft membrane, and an extracellular amniotic membrane allograft for ocular repair.
The Americas, Europe, Asia Pacific (APAC), and the Middle East & Africa (MEA) are the key markets for the amniotic membrane.
The Americas is the largest market for amniotic membrane. The concentration of major players in the region and growth in the biotechnology and pharmaceutical industries in the region supports the growth of the Americas market. The US and Canada are the key markets in the region. In addition, a growing geriatric population is also a key growth influencer.
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Europe accounts for a substantial share of the global amniotic membrane market. The presence of skilled professionals and an established healthcare infrastructure drives the market in Europe. High healthcare expenditure and augmenting need for advanced technologies are other motivating factors.
APAC market is slated to be the fastest growing market for amniotic membrane. The rise in the number of healthcare organizations, healthcare initiatives taken up the government, and increasing awareness regarding newer technologies is likely to enhance the growth of the market. Besides, a rising standard of living in urban areas is also expected to aid the growth of the APAC market for amniotic membrane.
The MEA market is expected to witness limited growth due to factors such as lack of awareness and lack of treatment facilities. United Arab Emirates is the largest market in the MEA region which is driven by the development of the healthcare sector and a growing number of specialty care centers.
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