Amniotic Membrane Market register a CAGR of 9.2% in terms of value during the forecast period 2018–2027
Amniotic membrane is the thin tissue that creates the walls of the amniotic sac. It is the innermost layer of placenta consisting of a thick basement membrane and an avascular stromal matrix. It can be used as a graft or as a dressing to facilitate ocular surface reconstruction and to promote healing.
Major factors driving growth of the global amniotic membrane market are increasing adoption of amniotic membrane for performing various ophthalmic and other surgeries due to its durability, hypoallergenic, anti-inflammatory and anti-scarring properties. In addition, amniotic membrane grafts can reduce Pterygium recurrence, which is expected to help show reliance on amniotic membrane, and thus increase its adoption for surgeries.
Increasing usage of amniotic membrane in injections and medicines for treating musculoskeletal diseases or disorders is expected to further increase demand and revenue growth of the market.
The global amniotic membrane market is segmented on the basis of product, application, end user, and region.
On the basis of product segmentation, the cryopreserved amniotic membrane segment is expected to contribute major revenue share to the global market and is expected to maintain its dominance over the forecast period. The fungicide segment witnesses a CAGR over 9.0%. Cryopreserved amniotic membranes help to treat various corneal, epithelial, and conjunctival disorders, including neurotrophic ulcers, persistent epithelial defects, microbial keratitis, band keratopathy, and chemical burns.
Among all the application segments, the surgical wound segment accounts for highest share in terms of revenue in the global market. The liquid segment is projected to register a CAGR over 8% during the forecast period. Manufacturers are focusing on getting FDA approvals as amniotic membranes used to treat human surgical wounds need to be FDA approved, which is another factor expected to support growth of this segment over the forecast period.
Among all the end user segments, the hospitals segment accounted for highest revenue share in terms of revenue in 2017 in the global market. The segment growth is attributed to increasing number of amniotic membrane transplants and rising awareness about the benefits and advantages of amniotic membrane transplants among the patient pool.
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The Europe market accounted for major share in terms of revenue in the global amniotic membrane market in 2017. The market in Europe is expected to witness considerable growth in terms of revenue during the forecast period. Increasing demand for amniotic membrane for ophthalmology to treat various types of ocular disorders in countries in the region is a major factor expected to propel growth of the market in the region over the forecast period. Furthermore, presence of prominent international players in the market such as Applied Biological Laboratories Inc., Tissuetech Inc., Amniox Medical, Inc., and others in the region are other factors expected to fuel growth of the Europe amniotic membrane market.
Key Players are Tissuetech, Inc., Integra LifeSciences Holdings Corporation (Derma Sciences Inc.), Alliqua BioMedical, Inc. (Celularity, Inc.), Skye Biologics, Inc., Human Regenerative Technologies, LLC, MiMedx Group, Inc., Amnio Technology, LLC, Katena Products Inc.