Amniotic
Membrane Market is
projected to reach $1,563 million by 2023, growing at a CAGR of 9.7% from 2017
to 2023. The cryopreserved amniotic membrane segment accounted for about
three-fourth share of the global market in 2016.
Amniotic membrane is the innermost layer forming
the fetal membranes. Amniotic membrane has the ability to promote healing and
hence it is being utilized in surgical procedures related to genitourinary
tract, skin, brain, and head and neck. In addition, amniotic membrane can also
be used as a dressing to ease ocular surface reconstruction and promote healing
for various ailments.
The rise in geriatric population and the
increased adoption of amniotic membrane for varied applications are the major
factors that drive the growth of this market. However, dearth of healthcare
professionals is the key restraint for the market growth. Moreover, the
increase in awareness about the advantages of amniotic membrane in various
surgical procedures that enhances the surgeries, would offer lucrative
opportunities for the market growth in the foresee future.
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The key players operating in the global
amniotic membrane market are FzioMed, Inc., Skye Biologics Inc., IOP
Ophthalmics, Amniox Medical, Inc., Amnio Technology, LLC, Applied Biologics
LLC, Alliqua BioMedical, Inc., Human Regenerative Technologies, LLC, Derma
Sciences Inc., and MiMedx Group, Inc. Other players operating in the value
chain are AlloCure, Bellicum Pharmaceuticals, Biogen Idec, BIOTIME, Bone
Therapeutics, Cell Medica, CESCA THERAPEUTICS, and Fibrocell Science.
The lyophilized amniotic membrane segment is
expected to grow at a significant CAGR during the forecast period as
lyophilized amniotic membrane can be stored at ambient temperatures for
prolonged periods. Moreover, nearly 240 pieces of amniotic membrane are
obtained from a single amnion sheet.
The surgical wounds segment accounted for the
maximum share in terms of revenue in 2016 and is expected to grow at a CAGR of
8.9% during the forecast period. This is due to the challenges posed by
surgical wounds as they can result in complications such as surgical ulcers.
Ambulatory surgical centers is expected to
register a significant growth rate of 9.9% during the forecast period owing to
the advantages of ambulatory surgical centers such as less hospital stay and
faster recovery post treatment.
Key Findings of the Amniotic
Membrane Market:
- The other applications segment accounted
for about one-ninth share of the total market in 2016, and is expected to
register a CAGR of 10.8% from 2017 to 2023.
- The ophthalmology segment accounted for
one-fourth share of the total market in 2016 and is expected to grow at a
high CAGR of 11.2% during the forecast period.
- The U.S. dominated the North American
amniotic membrane market and is projected to grow at a CAGR of 9.2% from
2017-2023.
- Hospitals end user dominated the amniotic
membrane market accounting for one-third share of the total market is
expected to grow at a high CAGR of 10.0% during the forecast period.
Asia-Pacific is expected to witness highest
growth rate in the global market and is expected to continue this trend
throughout the forecast period. This is owing to high population density and
rise in disposable income across the countries such as India and China. In
addition, rapid growth in geriatric population and increase in number of
ophthalmic diseases in the developing economies boost the market growth. For
instance, China has 2.5 million individuals suffering from cataract and an
estimated one million children suffer from blindness, which is mainly caused
due to vitamin A deficiency. This creates an ample demand for upgraded
surgeries employing amniotic membrane, fueling the market growth.
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