Press release
AM Potential in Tissue Engineering to Drive Amniotic Membrane Market's Growth
Global Amniotic Membrane Market
Based on Triton's research report, the global amniotic membrane market is expected to grow at a CAGR of 7.01% during the forecast period 2022-2028.
The amniotic membrane refers to the innermost layer of the fetal placenta. It is used for various treatments, including ocular surface repair and tissue transplantation.
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Amniotic membrane or amnion has shown potential to be used as a scaffold in numerous tissue engineering applications. In this regard, the genipin-crosslinked group (clAM) of human amniotic membranes has better biostability and biocompatibility. Therefore, the application of amnion in tissue engineering creates novel growth opportunities for the amniotic membrane market globally.
On the contrary, the use of an amniotic membrane is limited as its use in treating lung and other organ damages is still under research. Hence, the limited use of amnion restricts the amniotic membrane market's global growth.
The Asia-Pacific region is anticipated to witness the fastest growth over the forecast period. The region's robust growth is mainly owing to the growing applications of amnion across China, India, and South Korea. In China, the rising number of accidents and cosmetic surgery trends have increased the application of AM for various treatments. The demand for eye surgeries to prevent glasses is another reason supporting amniotic membrane use in eye treatments. Therefore, as stated above, all these factors drive the amniotic membrane market on a progressive path across the region.
The notable companies in the amniotic membrane market include Sky Biologics LLC, Human Regenerative Technologies, Labtician Ophthalmics Inc, Amino Technology LLC, Surgenix LLC, Organogenesis, MiMedx, Amniox Medical Inc, Celularity Inc, Integra Lifescience Corp, Bio Tissue Inc, Smith and Nephew Plc, Surgilogix LLC, and Katena Products Inc.
The market is heavily fragmented; however, it is expected to witness significant development over the forecast period. The barrier of entry is high as players require high capital investment in research, clinical trials, and more. Hence, the threat of new players is low. Further, since the market is emerging with no product differentiation, innovation and research are expected to drive the competition among existing players. This indicates the competition levels to be moderate over the forecast period.
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