AMNIOTIC MEMBRANE MARKET SIZE & SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2023 - 2030)

Amniotic membrane is the innermost layer of fetal membrane which is extracted from placenta of women and harvested to be used as a transplant material for reconstructive surgery for cases such as severely burnt skin, trauma wounds, chronic wounds and others. Amniotic membrane was initially used as a substrate for skin graft (skin transplantation surgery). According to the National Centre of Biotechnology Information (NCBI), amniotic membranes can also be used in a variety of applications such as ophthalmic surgery, cosmetic surgery, anticancer treatment, and as a regenerative medicine. Use of amniotic membrane is preferred due to its non-immunogenicity, anti-scarring property, antimicrobial property, and ability to reduce inflammation.

Global Amniotic Membrane Market - Impact of the Coronavirus (COVID-19) Pandemic

Coronavirus (COVID-19) outbreak was first reported on December 31, 2019, in Wuhan, China. The World Health Organization declared COVID-19 as pandemic on March 11, 2020. According to the Coronavirus (COVID-19) Weekly Epidemiological Update by the World Health Organization, over 169 million cases and 3.5 million deaths due to coronavirus disease (COVID-19) were reported till May 30, 2021, across the globe.

Impact of COVID-19 on Demand and Supply of Amniotic Membrane

The COVID-19 pandemic and lockdown in various countries across the globe have impacted the financial status of businesses across all sectors including private healthcare sector. The COVID-19 pandemic has impacted the entire supply chain of the healthcare industry mainly due to strict lockdown in several regions. The COVID-19 pandemic has affected the economy of various regions across the globe in three main ways; 1) by directly affecting the production and demand; 2) by creating disruptions in distribution channels; and 3) through its financial impact on companies and financial markets. Many countries such as Thailand, Indonesia, and Singapore are facing problems with regards to transportation and distribution of healthcare products.

Thus, impact of the coronavirus (COVID-19) pandemic is expected to limit the growth of the global amniotic membrane market during the forecast period, owing to the decrease in the supply of healthcare products, suspension of ophthalmological surgery and risk of positive COVID-19 cases associated with amniotic membrane. For instance, according to an article published in the Nature scientific journal on June, 2020, amniotic membrane of COVID-19 positive females were tested to be positive for COVID-19 infection. Hence, the article suggests medical practitioners to carry out COVID-19 testing of asymptomatic amniotic membrane donors.

Also, COVID-19 pandemic resulted in a halt of ophthalmology procedures due to which the demand of amniotic membrane decreased. According to data provided by the National Centre for Biotechnology Information (NCBI), in case if ophthalmological surgeries are suspended for 2 years due to COVID-19 pandemic, over 1.1 million cases of ophthalmological surgery are estimated to be at halt in Monte Carlo wherein the patients have registered for ophthalmological surgery but the surgery has not been performed yet due to suspension of surgeries in view of the pandemic. This is expected to hamper the growth of amniotic membrane market.

The global amniotic membrane market is estimated to be valued at US$ 3,201.1 Mn in 2021, and is expected to exhibit a CAGR of 12.8% over the forecast period (2021-2028).

Figure 1: Global Amniotic Membrane Market Share (%) Analysis, By Product Type, 2021

The increasing number of ophthalmology & cosmetic surgeries is the major factor that is expected to drive the market growth over the forecast period.

Large numbers of ophthalmology and cosmetic surgery procedures are adopted by people all around the world, this is expected to bolster the growth of global amniotic membrane market. According to the American Society of Plastic Surgeons report, over 2.3 million cosmetic surgery procedures and over 6.8 million reconstructive procedures were carried out in U.S. in 2020.

Rising geriatric population also aids the growth of amniotic membrane market as majority of ophthalmological disorders are diagnosed in older population. According to the National Center for Biotechnology Information (NCBI) report 2020, over 800,000 cataract surgeries are performed every year in Germany and the frequency of these surgeries is seen to be increasing with growing age. The frequency of cataract surgeries is reported to be approximately 26% for age group 70 years and above.

Research and Development activities

Increasing number of research and development activities for improving the efficacy of amniotic membrane and development of new products is expected to aid in the growth of the amniotic membrane market over the forecast period. For instance, in November 2020, Amnio Technology, an American regenerative medicine company, initiated Phase II clinical trials for testing the efficacy of their product PalinGen, which is an amniotic membrane allograft used for treating diabetic ulcers.

Increasing applications of amniotic membrane is expected to fuel the growth of market over the forecast period. Amniotic membrane finds its applications in a variety of sectors such as wound care, ophthalmology, orthopedics, and others. For instance, AlloSource, an American non-profit organization, provides AlloSkin skin graft which is useful in reconstructive procedures and cosmetic surgery. Moreover, Geistlich Derma-Gide, manufactured by Geistlich Pharma AG, an American regenerative medicine company, is a porous 3-D matrix used in wound management.

Global Amniotic Membrane Market – Restraints

However, growth of the amniotic membrane market may be hampered due to high cost associated with the treatment as well as due to challenges associated with user-friendliness of the amniotic membrane treatment. According to the Review of Optometry’s article published in January 2017, poor insertion or removal of an amniotic membrane transplant can result in corneal abrasion moreover, patient intolerance to some components of amniotic membrane formulations also limits the use of amniotic membranes.

Global Amniotic Membrane Market – Regional Analysis

On the basis of region, the global amniotic membrane market is segmented into North America, Latin America, Europe, Asia Pacific, Middle East, and Africa.

North America is expected to hold dominant position in the global amniotic membrane market over the forecast period, owing to the number of product launches. For instance, in September 2017, Amnio Technology launched PalinGel, which is an amniotic fluid derived allograft used in wound care for the purpose of supporting damaged soft tissues. Moreover, rising geriatric s of people falling in the age group of 60 years and above is estimated to reach 1.3 billion in Asia-Pacific region by 2050.

Figure 2: Global Amniotic Membrane Market Value (US$ 1203.6 Mn), by Region, 2021

Global Amniotic Membrane Market – Competitive Landscape

Major players operating in the global amniotic membrane market include 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