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The amniotic membrane market has been gaining rising prominence in recent years as amniotic membrane is used as an alternative therapy for wound healing applications. Amniotic membrane refers to the innermost layer of the placenta which acts as a biological scaffold or a substrate for epithelial regeneration, promoting faster healing of acute and chronic wounds., diabetic foot ulcers, pressure ulcers, etc. due to its anti-inflammatory, anti-scarring, and antimicrobial properties. The use of amniotic membranes has been shown to reduce the time for wound healing in case of surgical wounds and burns and prevent complications like infection.
The global amniotic membrane market is estimated to be valued at US$ 5.12 billion in 2024 and is expected to exhibit a CAGR of 13% over the forecast period of 2024-2031.
Key Takeaways
Key players operating in the amniotic membrane market are 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.
The key opportunities in the amniotic membrane market include growing awareness about its therapeutic applications in ophthalmology and wound care. Moreover, the market is witnessing a lot of research and development focused on utilizing the amniotic membrane for various regenerative medicine applications like repairing tendons, ligaments, and cartilage.
The growing adoption of amniotic membrane products in advanced wound care management owing to advancements like cryopreservation technique that helps increase shelf-life and ease of handling of amniotic membrane grafts is significantly fueling market growth.
Market drivers:
Growing geriatric population susceptible to chronic wounds like diabetic foot ulcers and pressure ulcers is a major market driver. According to the International Diabetes Foundation, 422 million people suffered from diabetes in 2014 and this number is projected to rise to 642 million by 2040.
High incidence of burn injuries worldwide necessitating effective wound care treatment using amniotic membranes is another factor fueling market growth. According to WHO, around 180,000 people die each year due to burn injuries.
Challenges in the Amniotic Membrane Market
The amniotic membrane market faces several challenges currently that can affect its future growth potential. The high costs associated with procuring and processing amniotic membranes make them inaccessible for certain patients. Lack of standardized and validated methods for harvesting, processing, and storing amniotic membranes can affect their quality, safety, and clinical outcomes. While the possibilities of amniotic membrane therapy are immense, limited understanding of their mechanisms of action restrict their applications. Complex regulations around human tissue transplantations globally also impose compliance challenges. Scarce skilled professionals for procuring and processing amniotic membranes precisely as per protocols is another hurdle.
SWOT Analysis
Strengths: Amniotic membranes have anti-microbial, anti-inflammatory and anti-scarring properties making them useful for wound healing and ocular surface reconstruction. They aid regeneration and reduce inflammation at injury sites.
Weaknesses: High costs of procurement and processing limit affordability. Variable quality due to lack of standardized methods can impact clinical efficacy.
Opportunities: Emerging fields like regeneration of vocal cords, meniscus and cartilage present new application areas. Robust evidence on mechanisms of action can facilitate new indications and product development.
Threats: Stringent regulatory norms and compliance issues pose commercialization challenges. Limited expertise and infrastructure for amniotic membrane therapy in some regions.
Geographical Regions
North America holds the major share in the amniotic membrane market currently in terms of value, encouraged by favorable reimbursement policies, robust research, and access to advanced medical technologies. Asia Pacific is expected to emerge as the fastest growing regional market during the forecast period owing to rising medical tourism, improving access and huge patient population complementing amniotic membrane applications in ophthalmology and wound care. Countries like China, India and Malaysia are prominent emerging markets in this region.
Fastest Growing Geographical Region
Asia Pacific region will witness the highest growth in the global amniotic membrane market during the forecast period from 2024 to 2031 propelled by factors like rising medical tourism, growing awareness about advanced wound care and ocular surface reconstruction therapies, increasing investments by industry players, and expanding insurance coverage in developing countries encouraging amniotic membrane adoption. With improving healthcare infrastructure and rapid economic developments, countries like India, China, Malaysia, Indonesia present immense opportunities in this region.
*Note:
- Source: Coherent Market Insights, Public sources, Desk research
- We have leveraged AI tools to mine information and compile it
