Amniotic Membranes Market Poised to Reach US$ 2.3 Billion by 2028 with Remarkable 9.0% CAGR Growth

The value of the global Amniotic Membranes Market is anticipated to reach approximately US$ 1.4 Bn in 2022. The total sales of amniotic membranes are also anticipated to increase at an impressive CAGR of 9.0% between 2022 and 2028, reaching over US$ 2.3 Bn by the end of 2028 due to the increasing adoption of amniotic membranes for various purposes in ophthalmology.

According to the latest market report published by Future Market Insights, titled 'Global Amniotic Membrane Market: Global Industry Analysis 2013 - 2017 and Opportunity Assessment 2018 - 2028', the global amniotic membrane market is expected to expand at a CAGR of 9.3% over the forecast period 2018-2028.

FMI estimates that the global market for amniotic membranes is to be valued at US$ 955.2 Mn in 2018 and is expected to expand at a CAGR of 9.3% over 2018-2028, to surpass US$ 2,322 Mn by 2028 end. Based on product type, the cryopreserved amniotic membrane segment dominated the global amniotic membrane market, with over 70% value share in 2017. The segment is expected to grow at above 9% CAGR over the forecast period of 2018-2028. North America is expected to maintain its dominance in the global market due to regulatory approvals of several new products in the U.S.

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The population of all age groups has emerged as a prominent consumer base, characterised by untapped product segments for amniotic membranes to offer effective wound healing and eye surgeries. This has prompted the amniotic membrane product manufacturers to capitalize on the emerging latent opportunity. The companies in the market are optimistic about increasing amniotic membrane transplants and increasing demand for amniotic membrane products around the world, particularly in North American countries. It is more than likely that over the next four to five years, the companies focus on developing innovative products and designing market-level strategies to leverage the potential opportunities emerging in parallel with the growing human population with various chronic diseases.

Amniotic membrane products such as Amniotic Allograft Membrane and Amniotic Allograft Suspension used to treat surgical wounds and defects of the corneal epithelia have gained traction over the last two decades. The major types of amniotic membranes such as cryopreserved amniotic membrane and lyophilized amniotic membrane evolved back in the 1990s, but they became significant and the market for amniotic membranes to be used on humans boomed over the past fifteen years.

The global amniotic membrane market has been segmented based on product type, application, end-user and region. Globally, cryopreserved amniotic membrane is the most attractive segment from manufacturers' point of view. Cryopreserved amniotic membrane is majorly used in ocular surface eye surgery owing to its positive effect on wound healing due to its anti-inflammatory property. Among all end, users of amniotic membranes, high demand for amniotic membranes is expected to come from the hospital segment due to the rising application of amniotic membranes in advanced surgical healing.

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By volume, the global amniotic membrane market is expected to expand at 11.4% over the forecast period of 2018-2028. With nearly 43% market value share, North America dominated the global amniotic membrane market in 2017, partly due to the penetration of newly approved products in the U.S. Western Europe, the second large market globally, with U.K., France and Germany being countries with high growth rates., is expected to gain 110 BPS in its market share over 2018-2028. APEJ is expected to be the third large market for amniotic membranes. APEJ and China collectively are expected to contribute over 15% share in the global market by 2028 over 2018.

The market for amniotic membranes is highly consolidated with the top 5 players contributing over 60% of the revenue share in 2017. Examples of some of the key players identified in the global market are Integra LifeSciencesm Inc., MiMedx Group, Inc., Alliqua BioMedical, Inc., Skye Biologics Inc., Katena Products, Inc., Tissue-Tech Inc., Amnio Technology, LLC, Applied Biologics LLC, Human Regenerative Technologies, LLC, etc. Depth of research, along with proper documentation and statistical validation are factors that could determine a player's success in the global amniotic membrane market

Some of the key points identified in the global amniotic membrane market are:

-FMI forecasts the global amniotic membrane market to grow at a CAGR of 9.3% over the forecast period by 2028 end. The growth in revenue generation across the amniotic membrane market is registered on the account of rise in amniotic membrane transplants in both developed and developing economies.
-The hospitals segment has proved to be the leading end-user segment on account of the increase in the number of amniotic membrane transplants, and growing awareness among the people about the benefits of the amniotic membrane transplant.
-The ease of FDA approval for novel and innovative amniotic membrane allografts coupled with the adoption of amniotic membranes for varied applications would boost the revenue growth in Germany & the U.S. markets.
-Most often, apart from major applications including surgical wound and ophthalmology, the use of amniotic tissue in orthopaedic surgery, sports medicine and podiatry treatment has increased in recent years.
-The amniotic membranes used majorly to treat human surgical wound needs to be FDA-approved, thus amniotic membrane manufacturers focus on getting fast FDA approvals.

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Key Segments of Amniotic Membranes Market Industry Survey

Amniotic Membranes Market by Product Type:

-Cryopreserved Amniotic Membranes
-Lyophilized Amniotic Membranes

Amniotic Membranes Market by Application:

-Surgical Wounds
-Ophthalmology
-Others

Amniotic Membranes Market by End User:

-Amniotic Membrane Treatment in Hospitals
-Amniotic Membrane Treatment in Specialized Clinics
-Amniotic Membrane Treatment in Ambulatory Surgical Centres
-Amniotic Membrane Treatment in Academic Research Centres

Amniotic Membranes Market by Region:

-North America Amniotic Membranes Market
-Latin America Amniotic Membranes Market
-Europe Amniotic Membranes Market
-East Asia Amniotic Membranes Market
-South Asia & Pacific Amniotic Membranes Market
-Middle East & Africa (MEA) Amniotic Membranes Market

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, Stevie Award - recipient market research organization, and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunity es that will favor the market growth in various segments based on Source, Application, Sales Channel, and End Use over the next 6 years.

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This release was published on openPR.