The global amniotic membrane market accounted for $812 million in 2016, and is estimated to garner $1.56 billion by 2023, registering a CAGR of 9.7% from 2017 to 2023.
Amniotic membrane has potential benefits in the field of ophthalmology as well as surgical wounds and orthopedic wounds owing to its ability of promoting healing. Amniotic membrane transplantation is currently being used for a continuously widening spectrum of ophthalmic indications as it is an effective method of reconstruction of the ocular surface. Thus, the steady increase in use of amniotic membrane is expected to supplement the growth of amniotic membrane market globally.
Rise in the geriatric population, increase in technological advancements, rise in amniotic membrane transplantation, and surge in awareness to reduce healthcare costs have boosted the growth of the global amniotic membrane market. However, dearth of skilled professionals hampers the market. On the contrary, rise in awareness regarding the advantage of amniotic membrane transplant is expected to create lucrative opportunities in the near future.
The market across Asia-Pacific is estimated to register the fastest CAGR and the surgical wounds segment dominated the market in 2016.
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The global amniotic membrane market is divided on the basis of product, application, end user, and geography. Based on product, the market is segmented into cryopreserved amniotic membrane and lyophilization amniotic membrane. The lyophilized amniotic membrane segment is projected to grow at the fastest CAGR during the forecast period as it can be stored at ambient temperatures for prolonged periods.
On the basis of application, the market is categorized into surgical wounds, ophthalmology, and others. The surgical wounds segment dominated the market in 2016 and is estimated to manifest the fastest CAGR of 8.9% during the forecast period, owing to the challenges posed by surgical wounds as they can result in complications such as surgical ulcers.
Based on end user, the market is segmented into hospitals, ambulatory surgical centers, specialized clinics, and research centers & laboratories. The ambulatory surgical centers segment is projected to portray a remarkable CAGR of 9.9% during the forecast period, due to the advantages of ambulatory surgical centers including less hospital stay and faster recovery post-treatment.
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The market is analyzed across various regions such as North America, Europe, Asia-Pacific, and LAMEA. The market across Asia-Pacific is estimated to register the fastest CAGR and is expected to dominate the global market.
The global amniotic membrane market report includes an in-depth analysis of the major market players such as Skye Biologics Inc., FzioMed, Inc., Amniox Medical, Inc., IOP Ophthalmics, Applied Biologics LLC, Amnio Technology, LLC, Human Regenerative Technologies, LLC, Alliqua BioMedical, Inc., and MiMedx Group, Inc., and Derma Sciences Inc.
Scope Of The Report
|Market size available for years||2017-2023|
|Base year considered||2018|
|Forecast units||Value (USD)|
|Segments covered||By surgical wounds, by ophthalmology|
|Geographies covered||North America, Europe, Asia-Pacific, LAMEA|
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