Amniotic Membrane Market Expected to Reach $1,728.05. Million by 2030

According to a new report published by Allied Market Research, titled, “Amniotic Membrane Market by Product Type, Application, and End User: Global Opportunity Analysis and Industry Forecast, 2021-2030,” The global amniotic membrane market size was valued at $1,102.45 million in 2020 and is projected to reach $1,728.05 million by 2030, registering a CAGR of 4.6% from 2021 to 2030.

Amniotic membrane is the innermost layer forming the fetal membranes. It is used as a graft or as a dressing in different surgical subspecialties. In the field of ophthalmology, this tissue is used as a tissue bandage for cornea infections and sterile melts, and to reconstruct the ocular surface for various procedures. In addition, this membrane protects and stimulates the repair of injured tissues via paracrine actions and also acts as a vector for bio-delivery of exogenous factors to treat injury and ailments. Also, the anti-inflammatory property of transplanted amniotic membrane is used as therapy against chronic inflammation in geriatric population. In addition, amniotic membrane is increasingly used for ocular surface reconstruction, including the treatment of persistent epithelial defects and non-healing corneal ulcers, corneal perforations and descemetoceles, bullous keratopathy, a corneal disorders with associated limbal stem cell deficiency.

Increase in the rapid expansion of the geriatric population and increase in adoption of amniotic membrane for varied applications are expected to drive the market growth. In addition, technological innovations to develop cost-effective therapies are expected to lead to a paradigm shift in the amniotic membrane market, globally. However, lack of healthcare professionals is expected to impede the market growth.

On the basis of product type, the global amniotic membrane market is categorized as cryopreserved amniotic membrane and lyophilization amniotic membrane. Lcryopreserved amniotic membrane is expected to dominate the market during the forecast period as this membrane can be stored at ambient temperatures for prolonged periods. Lyophilization amniotic membrane is expected to register a CAGR of 5.2% during the forecast period. Increase in awareness among patients towards the diagnosis and treatment options for amniotic membrane transplantation is expected to increase the growth of the market. Moreover, several pharmaceutical companies focus on developing products for the amniotic membrane transplantation, which is expected to drive the growth of the market during the forecast period.

On the basis of application, the surgical wound segment accounted for a major share of the market in the global amniotic membrane market in 2020. Owing to the rise in number of chronic and infectious diseases, a global rise in the number of surgeries has been witnessed that boosts the market potential. In addition, the ophthalmology segment is expected to register a CAGR of 4.9% during the forecast period. This segment is expected to exhibit a prominent growth rate, owing to the utilization of amniotic membrane, which leads to faster recovery of various eye-associated ailments.

On the basis of end user, the hospitals segment presently dominates the market, and is expected to remain dominant during the forecast period, due to frequent visits by patients, as hospitals are the primary care settings facilitating easy treatment for a wide range of diseases. The rise in usage of amniotic membranes in ASCs is another factor that is expected to enhance the market growth. The use of these products is easy and effective and also facilitates recovery of the wound without frequent visits to hospitals or clinics, which further drives the growth of market.

North America accounted for more than 40% of the global market share in 2020, and is expected to remain dominant during the forecast period. This was attributed to the well-established healthcare system and increase in adoption of amniotic membrane transplantation for varied applications, increase in number of geriatric patients, and supportive reimbursement policies in the healthcare system. Asia-Pacific is projected to register the highest CAGR of 5.9% during the forecast period. Rise in disposable income and presence of large geriatric population in developing countries are expected to drive the growth of amniotic membrane market in the region. In addition, increase in healthcare expenditure offers a lucrative opportunity for the market growth.

The major companies profiled in the report include AlloSource, Inc, Amnio Technology, LLC, Applied Biologics LLC, FzioMed, Inc., Human Regenerative Technologies, LLC, Integra Lifesciences Holdings Corporation, Corza Ophthalmology, MiMedx Group, Inc, Skye Biologics Inc., and TissueTech, Inc.

Key findings of study

• The study provides an in-depth analysis of the global amniotic membrane market, with current trends and future estimations to elucidate the imminent investment pockets.
• Comprehensive analysis of factors that drive and restrict the amniotic membrane market growth is provided.
• A detailed quantitative analysis of the industry from 2020 to 2030 is provided to enable the stakeholders to capitalize on the prevailing amniotic membrane market opportunities.
• Extensive analysis of the key segments of the industry helps understand the type of products and applications used globally.
• Key players and their strategies are provided to understand the competitive outlook of the amniotic membrane market.