Amniotic membrane has several advantages such as reduced scarring and pain, improved healing of chronic wounds, anti-microbial and anti-inflammatory properties. The amniotic membrane products are used for surgical wound repair, ophthalmology applications, and chronic wound care. With growing prevalence of ophthalmic disorders, chronic wounds and burns cases, the demand for amniotic membrane is increasing rapidly.
The global amniotic membrane market is estimated to be valued at US$ 3.62 Bn in 2024 and is expected to exhibit a CAGR of 13% over the forecast period of 2023 to 2030.
Key Takeaways
Key players operating in the amniotic membrane market are Smith & Nephew, Applied Biologics, Organogenesis Holdings Inc., Osiris Therapeutics, Inc., Alliqua BioMedical, Inc., Amnio Technology, LLC, Next Biosciences, Integra LifeSciences, MiMedx, LifeCell International, Human Regenerative Technologies, LLC, Amniox Medical, Inc, Skye Biologics Inc., Wright Medical, TissueTech, Katena Products, Inc., NuVision Biotherapies, Surgenex, and Ventris Medical.
Key opportunities in the market include rising awareness about amniotic membrane benefits, shift towards minimally-invasive procedures as well as new product launches. Rapid adoption of amniotic membranes for ophthalmic and burn & surgical applications also present new growth avenues.
Advent of dried and cryopreserved amniotic membranes will boost adoption rates. Advances in tissue processing technologies are further strengthening industry prospects.
Market Drivers
Growing geriatric population susceptible to chronic wounds and ophthalmic disorders is a key factor driving the amniotic membrane market growth. According to WHO, by 2050 over 2 billion people will be aged 60 years and above. Rise in obesity levels and lifestyle diseases will further augment the target patient population. Significant investments in wound care management programs across developed countries are also propelling the market. Favorable reimbursement scenarios for amniotic membrane based procedures especially in the U.S. and Europe provides impetus to industry expansion.
Current challenges in Amniotic Membrane Market:
The amniotic membrane market faces various challenges such as high costs associated with the treatment procedures. Amniotic membranes have a short shelf life of only 5 days, which makes them difficult to store and transport from the collection site to the clinical application site. Hence, companies are investing in R&D to develop ways to effectively preserve amniotic membranes for longer durations while maintaining their viability and effectiveness. Maintaining sterility during collection, processing, and storage of amniotic membranes is also challenging. The availability of skilled professionals for harvesting, processing, and administering amniotic membrane grafts is limited in certain developing regions.
SWOT Analysis
Strength: The amniotic membrane exhibits properties like anti-scarring, anti-microbial, anti-inflammatory, anti-angiogenic effects which help in faster wound healing and repair. It also provides structural support and retains growth factors that promote tissue regeneration.
Weakness: Amniotic membrane has a short shelf life of only 5 days which makes storage and transportation difficult. Maintaining sterility during processing and storage is also challenging.
Opportunity: Rising geriatric population worldwide who are more prone to chronic wounds and ophthalmic disorders drives the demand. Increasing awareness about amniotic membrane's clinical benefits in regeneration of oral mucosa, skin grafting and ocular surface reconstruction.
Threats: Stringent regulatory norms delay product approvals. Unavailability of skilled workforce in developing regions hampers market growth. Development of alternative tissue regeneration technologies threatens amniotic membrane's market share.
Geographical regions with high market concentration:
North America accounts for the largest share of the global amniotic membrane market value owing to availability of advanced medical facilities, rising elderly population and higher healthcare spending. Within North America, the United States represents the dominant regional market.
Europe is the second largest region in terms of market value driven by growing prevalence of chronic wounds and burns among aging population in countries like Germany, U.K and Italy.
Fastest growing geographical region:
Asia Pacific region is expected to witness the highest growth during the forecast period from 2023 to 2030. Improving medical infrastructure and expanding healthcare access across densely populated countries like India and China provide immense opportunities. Availability of skilled surgeons, low-cost treatments also attract medical tourists to Asia Pacific region, propelling the amniotic membrane market growth.
Priya Pandey is a dynamic and passionate editor with over three years of expertise in content editing and proofreading. Holding a bachelor's degree in biotechnology, Priya has a knack for making the content engaging. Her diverse portfolio includes editing documents across different industries, including food and beverages, information and technology, healthcare, chemical and materials, etc. Priya's meticulous attention to detail and commitment to excellence make her an invaluable asset in the world of content creation and refinement.
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