The Global Amniotic Membrane Market is a rapidly growing segment owing to its wide applications in wound care treatment and surgical procedures. Amniotic membrane refers to the innermost layer of the placenta which has anti-inflammatory, anti-scarring and anti-angiogenic properties making it an ideal biological material for wound healing. It acts as a temporary cover for damaged tissues until it regenerates with own cells. As amniotic membrane when used on wounds helps in faster re-epithelialization with reduced inflammation and scarring, its demand is increasing across hospitals and burn centers for treatment of venous ulcers, pressure ulcers, diabetic foot ulcers and surgical or trauma wounds. Owing to properties like rapid re-epithelialization and low cost of treatment compared to other substitutes, amniotic membrane products are becoming first line therapy for wound care management. The Global Amniotic Membrane Market is estimated to be valued at US$ 3.62 Bn in 2023 and is expected to exhibit a CAGR of 13% over the forecast period 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 increasing incidence of chronic wounds worldwide is driving the demand for amniotic membrane products in wound care therapy. Advancements like development of amnion-chorion composite grafts and use of micronized and cryopreserved amniotic membranes are expanding the scope of amniotic membrane applications.
Growing demand for advanced wound care treatment options along with rising geriatric population prone to chronic wounds is a major factor boosting the Amniotic Membrane Market. According to Global Burden of Disease Study, the number of people suffering from diabetic foot ulcers is projected to increase to over 190 million cases by 2030. This growing prevalence of chronic wounds with need for cost-effective treatment is fueling the demand for amniotic membranes. Technological advancements like micronization and cryopreservation of amniotic membranes have enhanced their stability, shelf life and surgical handling properties paving way for new applications.
Market Trends
Increasing Adoption of Micronized Amniotic Membranes: Micronization of amniotic membranes yields amniotic membrane particles sized 500 microns or less which have enhanced therapeutic properties. Being easier to handle in fluid form, micronized amniotic membranes are gaining popularity over intact membranes sheets in wound management.
Rise of Amnion-Chorion Composite Products: Combining amnion and chorion layers of placental membranes maximizes their benefits. Compared to single layer amnion products, amnion-chorion composites have superior mechanical strength and tissue remodeling capabilities spurring their adoption.
Market Opportunities
Ophthalmology Applications: Amniotic membranes are promising biomaterials for ocular surface reconstruction in conditions like corneal ulcers and reconstructive surgeries due to anti-angiogenic and anti-scarring properties. Their potential to treat ocular disorders is an emerging opportunity.
Cellular Therapy: Incorporating amniotic membrane-derived cells like mesenchymal stem cells can enhance wound healing efficacy. Combining cellular components with amniotic membranes opens possibilities for advanced regenerative therapies.
Impact of COVID-19 on Amniotic Membrane Market
The COVID-19 pandemic has significantly impacted the growth of the global amniotic membrane market. During the initial months of the pandemic in 2020, the amniotic membrane market witnessed sluggish growth due to lockdowns and restrictions imposed by various governments worldwide. This halted both elective as well as non-urgent surgical procedures that utilize amniotic membranes. However, with the resumption of healthcare services and relaxation of lockdowns from mid-2020, the demand for amniotic membranes picked up pace as the backlog of postponed surgeries was cleared.
Despite the initial setback, the amniotic membrane market is anticipated to grow at a steady rate in the forecast period from 2024 to 2031. This is mainly attributed to the critical role played by amniotic membranes in ocular surface reconstruction procedures for various ophthalmic conditions. In the post-COVID scenario, the market is witnessing high demand from emerging economies in Asia Pacific and Latin America which are focusing more on advanced treatment options. At the same time, developed regions like North America and Europe are utilizing amniotic membranes extensively for wound care and surgical applications.
Considering the impact of the ongoing pandemic, market players need to focus on ensuring steady supply chains, optimizing production capacities, enhancing R&D for new applications, and expanding into high growth regions. Telemedicine and e-commerce platforms can also be leveraged to sustain business operations and meet the rising demand from healthcare practitioners and consumers in the long run.
North America Amniotic Membrane Market
North America currently dominates the global amniotic membrane market, accounting for over 35% of the total market value. Being an economically advanced region with a high adoption rate of advanced therapies, the U.S. is the major revenue contributor. Factors such as the presence of key industry players, rising prevalence of ocular disorders, favorable reimbursement policies, and growing awareness about amniotic membrane-based treatments are fueling market growth in the region.
Asia Pacific Amniotic Membrane Market
The Asia Pacific region is poised to be the fastest growing market for amniotic membranes during the forecast period from 2024 to 2031. This is attributed to factors such as the rising geriatric population, increasing healthcare expenditures, growing medical tourism industry, and government initiatives to promote advanced technologies in countries like China, India, Japan and South Korea. Moreover, a large patient pool and rapidly developing medical infrastructure make Asia Pacific an extremely lucrative market with high growth opportunities. The market is projected to expand at a CAGR of over 15% through 2031