The amniotic membrane is the innermost placental layer that grows around the fetus. It finds widespread usage in ophthalmology procedures such as management of ocular surface disorders, limbal stem cell deficiency, and corneal ulcers owing to its anti-inflammatory, anti-scarring and anti-angiogenic properties.
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 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The increased usage of amniotic membrane in ophthalmology procedures is one of the major trends propelling the market growth. With rising cases of limbal stem cell deficiency, corneal ulcers and other ocular surface disorders globally, the demand for amniotic membrane as a biological wound dressing agent for management of these conditions is experiencing significant uptick. The availability of processed forms of amniotic membrane grafts suitable for transplantation is further increasing its usage in ophthalmology. This widespread adoption in eye care is expected to drive the amniotic membrane market substantially over the forecast period.
SWOT Analysis
Strength: Amniotic membrane has anti-inflammatory, anti-scarring and anti-microbial properties which make it ideal for wound healing and tissue regeneration.
Weakness: Low shelf life and the risk of disease transmission limit the use of amniotic membrane.
Opportunity: Rising chronic wound incidences, burns and surgeries expand the growth opportunity for amniotic membrane market.
Threats: Stringent regulations and high R&D costs associated with amniotic membrane based products.
Key Takeaways
The global amniotic membrane market is expected to witness high growth over the forecast period of 2023 to 2030. 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 2023 to 2030.
Regional analysis: North America holds the largest share in amniotic membrane market and is expected to dominate the market over the forecast period owing to established healthcare infrastructure, availability of reimbursements and growing cases of chronic wounds. Asia Pacific is expected to exhibit fastest growth owing to rising medical tourism, increasing healthcare spending and growing incidence of diabetic foot ulcers.
Key players: Key players operating in the amniotic membrane market are Smith & Nephew, MiMedx, Integra LifeSciences Holdings Corporation, Organogenesis, Stryker Corporation and Mylan. Smith & Nephew holds leading share in amniotic membrane market and continues to launch innovative amniotic membrane based wound care products
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it