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Amniotic Membrane Market Report Up to 2031
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COVID-19 Impact on Amniotic Membrane Market
The COVID-19 pandemic has deleteriously affected all the countries and industries. Similarly, the amniotic membrane market is anticipated to take a hit. The target industry is now facing challenges to manage the interrupted demand and supply of components. Also, unpredictable and disturbing supply chain activities and the unavailability of human resources are anticipated to impact the target industry growth. In contrast, the rising research & development activities for developing novel treatments against COVID-19 is creating a lucrative opportunity for the companies. Hence, the overall COVID-19 impact is expected to continue to moderate for the global key players operating in the industry.
Market Drivers
Awareness Regarding the Benefits Associated With the Amniotic Membranes Key Factor Fuels the Market Growth
The rising cases of hazardous trauma, burn and trends of surgical cures, and increasing awareness of amniotic membrane product advantages are forcing the amniotic membrane market growth. The increasing number of aesthetic surgeries has also contributed favorably towards rising the market demand and subsequently, adopting its services.
The amniotic membrane market has extensively profited from rapid growth in the geriatric population, the growing amniotic membrane transplantations, and focused on research & development activities globally, raised awareness regarding the benefits of amniotic membrane transplants.
Wide Application of Amniotic Membrane
Amniotic membranes are also used for indications, such as regenerative medicine, reconstruction of the conjunctiva surface, pressure, corneal ulcers, pterygium excisions, surgical wounds, and venous leg ulcers, and limbal stem cell deficiency. Thus, factors such as the global upsurge in the number of surgeries being performed are further enhancing the target industry growth.
The usage of amniotic membranes is extensively seen to treat eye surface disease. Treatment of corneal ulcers, cataract, glaucoma, bacterial keratitis, bullous keratopathyocular dystrophy, eyelid reconstruction, corneal degeneration, and various others. A growing number of ophthalmology surgeries owing to the growing old population across the world is creating an enormous demand for these tissue-based products.
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Market Opportunities
Increasing Demand for Stem Cell Research & Regenerative Medicine
Amniotic membranes are used in several applications in foetal tissue engineering, cardiovascular tissue engineering, and kidney injury repair, etc, for the treatment of chronic medical conditions. Rising research & development activities and funding from government and numerous public-private organizations in stem cell studies are fueling the growth of the target industry around the world. The rising government initiatives in emerging economies, the existence of a huge number of stem cell product pipelines, and its use in regenerative medicine to treat diseases are the crucial factors contributing to the growing acceptance of regenerative medicine and stem cells worldwide.
Competitive Landscape
Key players operating in the global Amniotic Membrane market are Skye Biologics Inc., Tissue-Tech Inc., Amniox Medical, Inc., FzioMed, Inc., IOP Ophthalmics, Applied Biologics, Derma Sciences Inc., Human Regenerative Technologies, LLC, Alliqua BioMedical, MiMedx Group, Inc., and Amnio Technology.
The key players have adopted new product development, product launches, product approval, agreement, partnerships, and merger as its key business development strategies to tap into the global Amniotic Membrane market. For instance, on 24th February 2020, Integra LifeSciences Holding Corporation launched the AmnioExcel® Plus Placental Allograft Membrane, its newest wound care solution to aid soft tissue repair. This is a next-generation, tri-layer, thicker, non-side explicit allograft comprising of amnion-chorion-amnion layers that helps in making a suitable atmosphere to support close complex wounds.
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