Besides, factors such as the rising amniotic membrane transplantations, rapid growth in the geriatric population, and growing research activities across the world drive the market growth. Moreover, growing demands for 3Dimentional reconstruction in patients who have undergone an eye surgery escalate the market demand on furthered height.
The market for amniotic membrane market was estimated to be worth USD 1.2 billion by 2022. The amniotic membrane industry is expected to expand from USD 1.25 billion in 2023 to USD 1.78 billion by 2032, with a compound annual growth rate (CAGR) of 16.26% over the forecast period (2023-2032). Rising awareness for disease is driving the growth of the market. Increasing reconstructive surgeries due to the increasing numbers of accidents, limb amputation, and implants are fostering the growth of the market.
Besides, factors such as increasing geriatric populations, rising number of patients suffering from chronic diseases, and continuous development in the technology are propelling the growth of the market. Additionally, the area of reconstruction is pushing the market growth, promoting the demand for cryopreserved amniotic membrane and lyophilized amniotic membrane.
On the other hand, rising healthcare cost is restricting the growth in the amniotic membrane market. Also, stringent regulatory approvals are acting as a headwind obstructing market growth. Nevertheless, factors such as the increasing demand for alternative treatments such as stem cell surgeries, government support for the new product development, and rising per capita healthcare expenditures would support the market growth over the assessment period.
Amniotic Membrane Market - Segments
The analysis has been segmented into four main dynamics to widen the scope of understanding,
By Type: Cryopreserved Amniotic Membrane and Lyophilized Amniotic Membrane.
By Application: Surgical Wounds, Ophthalmology, Stem Cell Biology, Regenerative Medicine, Prenatal Diagnosis, and others.
By End User: Ambulatory Surgical Centers, Hospitals & Clinics, Research Centers & Laboratory, and others.
By Regions: Americas, Europe, Asia-Pacific, Middle East & Africa, and Rest-of-the-World.
The growth of the cryopreserved amniotic membrane and lyophilized amniotic membrane segment is majorly driven by the rising cases of surgeries, increasing numbers of reconstruction procedures, and cosmetic surgeries. The segment cryopreservation amniotic membrane dominates the total market share. The segment is expected to reach USD 1,339.66 MN by the end of 2025. However, the segment - lyophilized amniotic membrane is projected to grow at the highest as in 14.69% CAGR from 2019 to 2025.
Amniotic Membrane Market - Regional Analysis
North America dominates the global amniotic membrane market. The largest market share attributes to the notable increase in stem cell surgeries and encouraging support for R&D to discover new therapeutics. Moreover, the increasing uptake of advanced technologies and high healthcare expenditures drive the market growth in the region. The US, among other North American countries, backed by the high healthcare expenditure, accounts for the major contributor to the regional market growth. Heading with the rising demand for stem cell procedures, the amniotic membrane market in North America is projected to grow at 11.75% CAGR during the forecast period.
Europe stands second in the global amniotic membrane market. Increasing prevalence of disorders and diseases such as cicatricial pemphigoid, Stevens-Johnson syndrome, pterygium, and persistent epithelial defects with ulceration, acts as a major tailwind for the market growth. Also, increasing surgeries of conjunctival surface reconstruction and ocular surface reconstruction drive the market growth.
Besides, rising cases of chemical and thermal burns in the region are driving the growth of the amniotic membrane market. Germany accounts for major market share and hence a key contributor to the growth of the regional market, followed by France. Witnessing the growth in R&D funding support from public & private sectors, the European amniotic membrane market is estimated to create a revenue pocket of USD 870.41 MN by 2025.
The amniotic membrane market outlook in the Asia Pacific region is growing briskly due to the increasing numbers of ocular surgeries, reconstruction procedures, and cosmetic surgeries. Besides, rising cases of venous and pressure leg ulcers are is driving the growth of the regional market. Additionally, the development of related technologies, alongside the rising advances in biotechnologies, is projected to increase the size of the regional market. The APAC amniotic membrane market is estimated to register a phenomenal CAGR during the forecast period.
Global Amniotic Membrane Market - Competitive Analysis
Fiercely competitive, the amniotic membrane market appears fragmented due to the presence of many well-established players. Innovation/ new technology launch remains a popular trend among market players. Also, they are focusing on expanding their global footprints by entering untapped markets.
Major Players:
Players driving the global amniotic membrane market report include Alliqua BioMedical, Inc. (US), Applied Biologics (US), Integra LifeSciences (US), MiMedx (US), Skye Biologics Inc. (California), Amniox Medical, Inc. (Florida), Human Regenerative Technologies, LLC (US), Katena Products, Inc. (US), Osiris Therapeutics, Inc. (US), and Amnio Technology, LLC (US), among others.
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