Global Amniotic Membrane Market to Surpass US$ 7,438.2 Million by 2028; inorganic activities such as collaborations and acquisitions to Augment Growth, Says Coherent Market Insights (CMI)
SEATTLE, June 25, 2021 (GLOBE NEWSWIRE) -- According to Coherent Market Insights, the global amniotic membrane market is estimated to be valued at US$ 3,201.1 million in 2021 and is expected to exhibit a CAGR of 12.8% during the forecast period (2021-2028).
Key Trends and Analysis of the Global Amniotic Membrane Market:
Key trends in the market include increasing prevalence of ocular disorders, increasing product launches and approvals, increasing research and development activities, and inorganic activities such as acquisitions, mergers, collaborations, and others.
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Increasing prevalence of ocular disorders or diseases leads to a high demand of reconstruction and wound care techniques such as amniotic membrane transplant, this is expected to fuel the market growth of amniotic membrane market over the forecast period. For instance, according to the Centers for Disease Control and Prevention (CDC) report 2019, approximately 1 million people in U.S. suffer from eye infections each year.
Increasing number of research and development activities for improving the effectiveness and longevity of amniotic membrane is expected to bolster growth of the amniotic membrane market. For instance, in 2018, Surgenex, an American regenerative medicines company manufactured SurGraft, a dehydrated amniotic membrane, which provides an improved shelf-life to increase the longevity of amniotic membrane.
The increasing number of product approval and launch is expected to drive growth of the market over the forecast period. For instance, in July 2020, Merakris Therapeutics, an American regenerative medicine company launched Dermacyte Matrix, which is an amniotic membrane used for protection and repair of damaged tissues. The Dermacyte Matrix amniotic membrane provides a nurturing environment to the damaged tissues, which helps in rejuvenation and repair of the damaged tissues.
Increasing focus of market players in market strategies such as acquisitions and partnerships is expected to drive the growth of the global amniotic membrane market over the forecast period. For instance, in 2019, Smith & Nephew, a British medical equipment manufacturer, acquired Osiris Therapeutics, an American regenerative medicine company, to expand their product portfolio.
However, high amniotic membrane treatment cost and the risk of diseases associated with use of amniotic membrane is expected to hamper the growth of the market. For instance, according to a study published in Clinical Ophthalmology Journal in July 2020, there is a risk of acquiring infectious diseases such as HIV, Hepatitis B, Hepatitis C and Prion infection while using amniotic membrane products. Also, few complications such as formation of Hypopyon, Haemotomas and Granulomas can be seen in some cases of amniotic membrane transplantation. Moreover, lack of randomized clinical trials and inadequate classification system for clinical conditions result in improper evaluation of amniotic membranes. This could act as a restraint in the growth of amniotic membrane market.
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Key Market Takeaways:
Increasing research and development activities, rising product launches and approvals, inorganic activities such as collaborations, acquisitions, and others are expected to drive growth of the global amniotic membrane market over the forecast period. For instance, in September 2018, NuVasive, Inc., an American medical devices company, launched Amniotic Membrane DS, it is used to reduce inflammation and scar tissue formation caused during surgical procedures.
Competitive Landscape:
Key players operating in the global amniotic membrane market include Applied Biologics, Smith & Nephew, 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.
Market Segmentation:
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Global Amniotic Membrane Market, By Product Type:
- Amniotic Membranes
- Cryopreserved Amniotic Membranes
- Dehydrated Amniotic Membranes
- Amniotic Suspensions
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Global Amniotic Membrane Market, By Application:
- Wound Care
- Orthopedics
- Ophthalmology
- Others
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Global Amniotic Membrane Market, By End User:
- Hospitals
- Ambulatory Surgical Centers
- Specialty Clinics
- Research and Academic Institutes
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Global Amniotic Membrane Market, By Region:
- North America
- By Country:
- U.S.
- Canada
- By Country:
- Latin America
- By Country:
- Brazil
- Mexico
- Argentina
- Rest of Latin America
- By Country:
- Europe
- By Country:
- U.K.
- Germany
- Italy
- Spain
- France
- Russia
- Rest of Europe
- By Country:
- Asia Pacific
- By Country:
- China
- India
- Japan
- Australia
- South Korea
- ASEAN
- Rest of Asia Pacific
- By Country:
- North America
- Middle East
- By Country:
- GCC
- Israel
- Rest of Middle East
- By Country:
- Africa
- By Country/Region:
- South Africa
- Central Africa
- North Africa
- By Country/Region:
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