Amniotic Membrane Market to Surpass US$ 7,438.2 Million by 2028 - Coherent Market Insights

Global Amniotic Membrane Market, by Product Type (Amniotic Membranes {Cryopreserved Amniotic Membranes and Dehydrated Amniotic Membranes}, and Amniotic Suspensions), by Application (Wound Care, Orthopedics, Ophthalmology, and Others), by End User (Hospitals, Ambulatory Surgical Centers, Specialty Clinics, and Research and Academic Institutes), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa), 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).

Rising number of ophthalmology surgeries in geriatric population is expected to drive growth of the global amniotic membrane market during the forecast period. For instance, according to the Centers for Medicare and Medicaid Services (CMS), in 2017, over 50.7 million people in the U.S. were above 65 years of age meanwhile the total number of glaucoma surgeries performed were approximately 174,788. Amniotic membrane transplantation is used in glaucoma surgeries to prevent inflammation as these membranes lack immunogenicity and cannot be recognized by the immune system of human body. Hence, growing number of glaucoma surgeries is expected to fuel the growth of amniotic membrane market.

Market players are engaged in inorganic activities such as partnership, merger and acquisitions, this is expected to drive growth of the amniotic membrane market. For instance, in November 2018, Generex Biotechnology Corporation, a biotechnology company, acquired 51% stakes of Olaregen Therapeutix Inc., a regenerative medicine company based in New York, this acquisition is expected to help the company to expand its product portfolio.

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

COVID-19 outbreak was first reported on December 31, 2019 in Wuhan, China. According to the Coronavirus (COVID-19) Weekly Epidemiological Update by the World Health Organization, over 169 million cases and 3.5 million deaths have been reported due to Coronavirus (COVID-19) up till May 30, 2021 across the globe.

The COVID-19 pandemic has affected several markets across the globe and is also expected to hamper the global amniotic membrane market. The COVID-19 pandemic has affected the demand and supply of healthcare products in three main ways; by directly affecting the production and demand; by creating disruptions in distribution channels; and due to its financial impact on firms and financial markets. Many ophthalmology surgeries are currently at halt due to COVID-19 crisis in order to ensure safety of the patients. For instance, according to a news article published by the Times of India on October, 2020, many cataract surgeries were at total halt during the nationwide lockdown period in India.

According to the National Centre for Biotechnology Information, coronavirus can cause ocular infections, a meta-analysis study by Nasiri et al. in 2020 shows that 11.03% of COVID-19 patients in China reported ocular manifestations, with conjunctivitis being the most common ocular disease. As the number of cases of coronavirus infection increase, a rise in COVID-19 ocular manifestations has been observed during the study. This is expected to fuel the market growth of amniotic membrane market as these membranes are widely used in management of ocular manifestations.

Browse 33 Market Data Tables and 25 Figures spread through 167 Pages and in-depth TOC on Global Amniotic Membrane Market, by Product Type (Amniotic Membranes {Cryopreserved Amniotic Membranes and Dehydrated Amniotic Membranes}, and Amniotic Suspensions), by Application (Wound Care, Orthopedics, Ophthalmology, and Others), by End User (Hospitals, Ambulatory Surgical Centers, Specialty Clinics, and Research and Academic Institutes), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa)

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Moreover, clinical trials for launch of new improved products is expected to drive the amniotic membrane market growth over the forecast period. For instance, in 2019, Organogenesis Inc., an American regenerative medicine company carried out clinical trials for assessing the efficiency of their amniotic membrane derived product NuShield for the treatment of chronic diabetic ulcers. This study is expected to be completed in December, 2021.

Key Takeaways of the Global Amniotic Membrane Market:

• The global amniotic membrane market is expected to exhibit a CAGR of 12.8% over the forecast period (2021-2028). North America is expected to account for major market share over the forecast period (2021-2028) owing rising number of product launches. For instance, in November 2018, Generex Biotechnology Corporation announced the launch of Excellagen, which is a skin matrix used for wound care.
• Some of the 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.