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The amniotic membrane has wide applications in ophthalmology due to its anti-inflammatory, anti-scarring, anti-microbial properties and ability to promote epithelialization. Derived from the inner layer of the amniotic sac, amniotic membrane acts as a scaffold for ocular surface reconstruction and healing of damaged or diseased ocular tissues. It is used as a biological bandage or contact lens for conditions like persistent epithelial defects, corneal ulcers and burns. Amniotic membrane transplantation provides immediate relief from pain and speeds up healing by reducing inflammation and scarring.
The global Amniotic Membrane Market is estimated to be valued at US$ 3.62 Billion 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.
Market key trends:
One of the major trends in the Amniotic Membrane Market is the increasing preference for cryopreserved amniotic membrane products over dehydrated amniotic membrane products. Cryopreservation allows for long-term storage of amniotic membrane at very low temperatures without damaging its structural or therapeutic properties. Cryopreserved amniotic membranes have better structural integrity, higher retention of growth factors, lower risk of disease transmission and longer shelf life compared to dehydrated amniotic membranes. Their use has increased significantly as they provide efficient alternative to fresh amniotic membrane with comparable clinical efficacy. This trend is expected to continue and drive the Amniotic Membrane Market growth over the forecast period.
Porter’s Analysis
Threat of new entrants: The amniotic membrane market requires heavy investments for R&D, limiting the threat of new entrants.
Bargaining power of buyers: The large number of players and availability of substitutes gives buyers moderate bargaining power.
Bargaining power of suppliers: Suppliers have moderate bargaining power due to specialized manufacturing processes required.
Threat of new substitutes: Substitutes like fetal skin grafts and genetically engineered matrices pose a moderate threat.
Competitive rivalry: The market is fragmented with the presence of global and regional players.
Key Takeaways
The global amniotic membrane market is expected to witness high growth. The global Amniotic Membrane Market is estimated to be valued at US$ 3.62 Billion in 2023 and is expected to exhibit a CAGR of 13% over the forecast period 2023 to 2030.
North America currently dominates the market owing to established healthcare infrastructure and rising adoption of advanced wound care therapies. Factors such as growing geriatric population, increasing prevalence of chronic wounds, and rise in awareness about amniotic membrane benefits are also expected to propel the regional market.
Europe is the second largest regional market due to strong government support and high healthcare spending. Asia Pacific exhibits significant growth potential attributed to rising medical tourism, increasing healthcare expenditures, and growing incidence of diabetic foot ulcers.
Key players operating in the amniotic membrane market are Smith & Nephew, MiMedx, Integra, TissueTech, Inc. Organogenesis Inc., and Stryker Corporation. Smith & Nephew offers amniotic membrane substitutes such as Clarix products for wound care. MiMedx provides dehydrated human amnion/chorion membrane allografts for different applications.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
