Amniotic Membrane Market Size is Expected to Reach at USD 10.2 Billion by 2030, Registering a CAGR of 14.2%, Owing to Increasing Prevalence of Chronic Diseases
The Global Amniotic Membrane Market Size is predicted to reach USD 10.2 Billion by 2030 from USD 3.1 Billion in 2021, at a CAGR of 14.2% between 2022 and 2030, as per the Acumen Research and Consulting
Increasingly dangerous occurrences of trauma and burns leading to cure through operations, as well as increased awareness highlighting the benefits of amniotic membrane-based products, is driving the global amniotic membrane market growth. Another factor projected to boost market expansion over the forthcoming years is an increase in the number of cosmetic procedures performed globally. Amniotic membrane is also used in the treatment of a wide range of ocular surface illnesses because it protects surfaces against microbial colonization, lowering the risk of infection.
Furthermore, growth factors such as keratinocyte growth factor (KGF), epidermal growth factor (EGF), nerve growth factor (NGF), fibroblast growth factor (bFGF), vascular endothelial growth factor (VEGF), and basic transforming growth factors (TGFs) in amniotic membranes promote wound healing, sparking its global adoption. Furthermore, its therapeutic benefits, such as anti-inflammatory capabilities, reduced fibrosis, and scarring at the site of surgery, pain reduction, and faster wound healing properties, is boosting demand. However, these products are most generally utilized in the treatment of surgery, venous, hypertension, ophthalmology, chronic wound management, and the repair of ulcers in diabetic feet.
Amniotic Membrane Market Statistics
- Global amniotic membrane market value was worth USD 3.1 Billion in 2021, with a 14.2% CAGR from 2022 to 2030
- North America amniotic membrane market share occupied around 32.2% in 2021
- By geography, the Asia-Pacific accounts for the rapidly growing demand for amniotic membrane market
- By enzyme, the cryopreserved amniotic membrane capture over 59.1% of total market share in 2021
- Increasing demand for minimally invasive surgical procedures, propels the amniotic membrane market size
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Amniotic Membrane Market Trends
The amniotic membrane market has been growing in recent years due to an increase in the use of amniotic membrane products in a variety of medical applications, such as wound healing, ophthalmology, and orthopedics. The amniotic membrane is a naturally occurring and biocompatible substance that has been found to improve wound healing and tissue regeneration. The amniotic membrane is also being used to treat a range of eye problems, including dry eye, corneal ulcers, and age-related macular degeneration, due to its unique features. Furthermore, the amniotic membrane is being used to treat orthopedic problems such as osteoarthritis and tendonitis. As more medical professionals become aware of the benefits of amniotic membrane products and new applications are developed, the market is projected to expand in the future.
Amniotic Membrane Market Segmentation
Acumen Research and Consulting has segmented the global amniotic membrane market by enzyme, application, and end-use.
- Based on the enzyme, the industry is categorized into dehydrated amniotic membrane, and cryopreserved amniotic membrane. Cryopreserved enzyme type is expected to be the dominant segment in terms of market share in the upcoming years owing to its effective preservation of biological and histological properties. According to the amniotic membrane market forecast, the dehydrated amniotic membrane segment is estimated to grow significantly over the next several years.
- Based on the application, the market is divided into ophthalmology, surgical wounds, and others. The surgical wound application segment is predicted to experience greater growth in comparison to its other application segments, with the expected rising usage of these product offerings for medical applications.
- Based on the end-use, the market is classified into ambulatory surgical centers, research and academic institutes, hospitals, and specialty clinics. Among the end-use segment, specialty clinics are expected to experience a larger CAGR over the coming years due primarily to the growing number of corrective surgery and cosmetic treatments being performed internationally.
Amniotic Membrane Market Regional Overview
Geographically, the worldwide amniotic membrane market is segmented into Europe, Latin America, North America, Asia Pacific, and the MEA. According to an amniotic membrane industry analysis, North America has the largest market share in 2021. The presence of a significant number of major companies, as well as the high frequency of chronic and infectious diseases, contributes to this dominance. North America region is likely to continue holding the greatest market share during the projection period. Due to the emergent population and increased prevalence of chronic diseases and burn injuries, the Asia-Pacific market is predicted to develop at the fastest pace during the projected time frame.
Amniotic Membrane Market Players
Some of the leading amniotic membrane market companies include Organogensis, Inc., DermaSciences, Alliqua BioMedical Inc., Applied Biologics LLC, Amniox Medical Inc., Skye Biologics, Inc., Katena Products, Inc., MiMedx Group Inc., Amnio Technology, and Human Regenerative Technologies. These worldwide players are continually spending on R&D and inventing in order to have upgraded product offerings to attract more and more commercial prospects from rising countries like China and India. Customers' evolving preferences are prompting global firms to develop novel technology solutions to effectively serve the industry. Moreover, rising R&D spending, together with technical improvements, are predicted to provide profitable prospects for market participants.
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