As per our research report, the amniotic membrane market is anticipated to grow at a CAGR of 12.16% from 2022 to 2027 and was valued at USD 765.17 million in 2022.
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The amniotic membrane (AM) or amnion is a thin membrane on the fetal placenta’s inner side. It completely envelops the embryo and demarcates the amniotic cavity filled with amniotic fluid. Furthermore, the amniotic membrane can be employed as a dressing to help with ocular surface reconstruction and speed up healing time. Due to various benefits, such as restoring epidermal function and integrating itself into the healing process, and being a skin substitute in wound treatment, the amniotic membrane has piqued the interest of healthcare practitioners and clinicians. Depending on the indication, the amniotic membrane is used as a graft or patch to treat eye problems.
COVID-19 continues to have a negative impact on the amniotic membrane market. Due to nationwide lockdowns, wound care services have been denied, and elective procedures have been canceled or postponed. Elective operations were rejected (canceled/postponed) so that scarce capacities and resources (like patient care professionals and hospital beds) may be allocated or redirected to COVID-19 patient care. In addition, several countries implemented lockdowns and curfews to combat the rising number of COVID-19 instances. Patients were unable to visit hospitals, outpatient clinics, or clinics due to the lockdowns. The global amniotic membrane market is limited by this temporary suspension of non-emergent healthcare services. However, demand for amniotic membrane products is likely to increase in the following years.
Due to technical advancements in the development of cost-effective medicines, the amniotic membrane market is likely to rise significantly during the forecast period. Furthermore, the market is expected to develop due to increased amniotic membrane transplantation, increased knowledge and education about the benefits of amniotic membrane transplantation, and the growing senior population. In addition, implementing the 21st-century cures act, emerging economies, and growing demand for stem cell research and regenerative medicine are expected to provide significant growth opportunities for market players. Furthermore, increased government measures to develop healthcare infrastructure increase demand for high-quality hospital-based healthcare services, which helps the category grow.
In addition, due to technical advancements in the development of cost-effective medicines, the amniotic membrane market is likely to rise significantly during the forecast period. Furthermore, the market is expected to develop due to increased amniotic membrane transplantation, increased knowledge and education about the benefits of amniotic membrane transplantation, and an increase in the geriatric population.
On the other hand, the lack of healthcare experts is likely to limit the expansion of the amniotic membrane market. However, during the projection period, the enormous market potential in developing regions is expected to provide opportunities for market expansion.
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KEY MARKET INSIGHTS:
- Based on the amniotic product type, due to its high effectiveness and acceptance rates internationally, the cryopreserved amniotic membrane segment was the leading segment in 2021 and is expected to continue this trend during the forecast period. This membrane type is typically kept at -80°C in a cell culture medium containing 50% glycerol. The histological and biochemical features of the amniotic membrane are well preserved in cryopreserved amniotic membranes. As a result, cryopreserved membranes are frequently utilized in visual procedures to help minimize eye irritation and speed healing. As a result, this category is expected to increase at a profitable pace during the projected period. The demand for lyophilized amniotic membrane, on the other hand, is likely to expand at the fastest rate over the forecast period because the placement of this membrane has not been linked to any substantial adverse reactions or unforeseen long-term repercussions.
- Based on the application, the surgical wound sector now leads the market and is projected to do so for the foreseeable future. The membrane has an anti-inflammatory scarring effect, which reduces the build-up of scar tissue; therefore, this section is expected to expand rapidly.
- Based on the end-user, the hospital sector currently dominates the market due to an increase in the number of amniotic membrane transplantations performed at hospitals. It is likely to continue to do so over the forecast period. In addition, growing government measures to improve healthcare infrastructure and the expansion of the middle class in developing countries like India result in increased demand for excellent healthcare services offered by hospitals, assisting segment growth.
- Geographically, with a share of more than 31% in 2021, North America dominated the amniotic membrane market. The presence of prominent market companies in North America and well-established healthcare facilities are the main drivers of regional market growth. Increased focus on alternative technologies and the adoption of modern technologies are projected to drive market expansion in this area throughout the forecast period. The second-largest revenue share was accounted for by Europe, which is predicted to expand at a steady CAGR from 2022 to 2030. The European region’s healthcare system is publicly funded, and some nations have implemented universal healthcare systems, increasing product demand. The usage of amniotic membranes among healthcare practitioners is predicted to increase as the number of patients suffering from chronic diseases rises. Over the projection period, Asia Pacific is expected to grow at a considerable CAGR. The majority of the countries in this region are economically developing, and disposable income is steadily rising. As a result, several multinational corporations have made significant investments in this region. Furthermore, substantial unmet needs and increasing healthcare infrastructure are expected to drive market expansion, particularly in Japan and India.
- The following are some of the major market participants in the amniotic membrane market Amnio Technology LLC, Amniox Medical Inc. (TissueTech Inc.), Genesis Biologics, Human Regenerative Technologies LLC, Smith & Nephew plc, Integra LifeSciences Holdings Corporation, MiMedx Group, Next Biosciences, Skye Biologics Holdings LLC, Katena Products Inc., Surgenex LLC, Ventris Medical LLC, and Wright Medical Group N.V. (Stryker B.V.).
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SEGMENTS COVERED UNDER THIS REPORT:
By Product:
- Cryopreserved
- Lyophilization
By Application:
- Surgical Wounds
- Ophthalmology
- Stem Cell Biology
- Regenerative Medicine
- Others
By End-User:
- Hospitals
- Ambulatory Surgical Centers
- Specialized Clinics
- Research Centers & Laboratory
By Region:
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
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