The global Amniotic Membrane Market is estimated to be valued at US$ 3.62 Bn in 2023 and is expected to exhibit a CAGR of 13% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
The amniotic membrane is the innermost layer of the placenta which consists of epithelial cells, a thick basement membrane, and an avascular stroma. It possesses properties such as anti-inflammatory, anti-scarring, antimicrobial, anti-angiogenic and pain-relieving properties. This makes it ideal for use in wound healing applications including wounds, burns, ophthalmic disorders, surgical wounds etc. It acts as a biological scaffold and releases growth factors that aid in tissue regeneration. Compared to synthetic skin substitutes or skin grafts, amniotic membrane grafts have lesser probability of developing infection and rejection. With increasing cases of trauma, accidents and chronic wounds worldwide, the demand for effective wound care treatments is growing steadily. This is expected to propel the amniotic membrane market growth over the forecast period.
Market key trends:
One of the key trends gaining traction in the amniotic membrane market is the rising adoption of amniotic membrane for ophthalmic disorders. Amniotic membrane plays a crucial role in ocular surface reconstruction due to its anti-angiogenic, anti-inflammatory and anti-scarring properties. It is increasingly being used to treat ocular disorders like keratitis, corneal ulcers, persistent epithelial defects and corneal perforations. Also, continuous efforts by market players to develop new amniotic membrane products through advanced processing techniques like cryopreservation, lyophilization etc. is expected to drive the market growth. Development of amniotic membrane tissue engineered products for regenerative therapies is another emerging trend in the market.
Threat of new entrants: Low, as the market requires high capital investment and regulatory approvals for entering.
Bargaining power of buyers: Moderate, as the presence of substitute products provides options to buyers.
Bargaining power of suppliers: High, as raw materials have limited sources of supply globally.
Threat of new substitutes: Moderate, as new substitutes are emerging but amniotic membrane has established use cases over years.
Competitive rivalry: High, as the key players compete on the basis of quality, price and technology.
The global amniotic membrane market size is expected to witness high growth at a CAGR of 13% over the forecast period 2023 to 2030, due to increasing cases of ocular surface disorders.
Regional analysis: North America dominates the global market currently owing to increasing healthcare expenditure and growing patients’ population. However, Asia Pacific is expected to grow at the fastest pace during the forecast period with rising medical tourism and improving healthcare infrastructure in emerging countries.
Key players operating in the amniotic membrane market include 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 players are focused on new product launches and regulatory approvals to strengthen their market position.