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Amniotic Membrane Market Size, Share & Trends Analysis 2024-2033
Amniotic Membrane Market Size
According to The Business Research Company's, The amniotic membrane market size has grown strongly in recent years. It will grow from $1.61 billion in 2023 to $1.74 billion in 2024 at a compound annual growth rate (CAGR) of 8.2%. The growth in the historic period can be attributed to increasing patient demand, medical advancements, wound healing research, surgical innovations, burn treatment evolution.
The amniotic membrane market size is expected to see strong growth in the next few years. It will grow to $2.53 billion in 2028 at a compound annual growth rate (CAGR) of 9.8%. The growth in the forecast period can be attributed to expanding applications, regenerative medicine growth, rising prevalence of chronic diseases, aging population demographics, clinical trials and research. Major trends in the forecast period include patient-centric healthcare, focus on anti-inflammatory effects, clinical validation and research, biological dressing innovations, customized and personalized treatments.
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Market Drivers and Trends:
The rise in the number of transplants is expected to propel the growth of the amniotic membrane market going forward. Transplantation is a surgical operation that involves the transfer of tissue or an organ from one person (the donor) to another. Amniotic membrane is used in transplants for surgical procedures. For instance, in 2021, according to the Australian Department of Health and Aged Care, an Australia-based department of the government responsible for health research, funding, promotion, and regulation, stated that there were 10.81k reported tissue transplant recipients from 3k tissue donors, including 2.7k living tissue donors which were doubled compared to 2020. Therefore, the rise in the number of transplants is driving the growth of the amniotic membrane market.
Major companies operating in the amniotic membrane market are developing new surgical wounds to gain a competitive edge in the market. Surgical wounds refer to incisions or injuries made intentionally during a surgical procedure. For instance, in September 2022, MiMedx Group Inc., a Georgia-based biomedical company, launched AMNIOEFFECT, a tri-layer PURION processed human tissue allograft designed for surgical procedures. It supports the healing cascade by aiding the development of granulation tissue. The tissue provides a biocompatible human extracellular matrix (ECM) and retains more than 300 regulatory proteins. Comprising the amnion, intermediate, and chorion membrane layers of the placenta, AMNIOEFFECT enhances the company's Surgical Recovery product portfolio. It offers superior handling characteristics and allows surgeons to secure tissue in place with sutures for addressing surgical wounds.
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Major Key Players of the Market:
Alliqua BioMedical Inc.; Amnio Technology LLC; Applied Biologics LLC; Human Regenerative Technologies LLC; Rivela DermaScience; Katena Products Inc.; MiMedx Group Inc.; Skye Biologics Inc.; Amniox Medical Inc.; Integra LifeSciences Co.; Organogenesis Holdings Inc.; Bio-Tissue Inc.; Stryker Corporation; Osiris Therapeutics Inc.; Sandlot Medical LLC; FzioMed Inc.; Tissue-Tech Inc.; DermaSciences Inc.; Laboratoire CCD; VIVEX Biologics Inc.; Merakris Therapeutics Inc.; Thea Pharma Inc.; Centauri Therapeutics Inc.; Celularity Inc.; IOP Ophthalmics; John Bean Technologies Corporation; Air T Inc.; Mallaghan Engineering Ltd.; Bharat Earth Movers Limited; Cavotec SA; Textron Inc.; Vestergaard Company
Amniotic Membrane Market 2024 Key Insights:
• The amniotic membrane market will grow to $2.53 billion in 2028 at a compound annual growth rate (CAGR) of 9.8%.
• Surge In Transplants Drives Growth In The Amniotic Membrane Market
• Product Innovations Transforming The Amniotic Membrane Market
• North America was the largest region in the amniotic membrane market share in 2023
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