Report : Amniotic Membrane Market Forecast to 2027 - COVID-19 Impact and Global Analysis by Enzyme (Cryopreserved Amniotic Membrane, and Dehydrated Amniotic Membrane); Application (Surgical Wounds, Ophthalmology, and Others); End User (Hospitals, Ambulatory Surgical Centers, Specialty Clinics, and Research Institute and Academic Institutes), and Geography
Development of Amniotic Membrane-Derived Products to Drive Growth of Amniotic Membrane Market during 2020–2027
According to our new market research study titled ”Amniotic Membrane Market –Global Analysis and Forecast – by Enzyme, Application, and End User” the global amniotic membrane market is expected to reach US$ 2,577.74 million by 2027 from US$ 1,484.83 million in 2019; it is estimated to grow at a CAGR of 7.3% from 2020 to 2027. The report highlights the trends prevalent in the global amniotic membrane market, and the drivers and deterrents pertaining to its growth.
The amniotic membrane-derived products are widely used in regenerative medicine. Moreover, several players operating in this market have developed and are developing amniotic membrane-derived products. For instance, SURGENEX, LLC, headquartered in the US, offers SurGraft a dehydrated amniotic membrane sheet that has a wide application in wound management, ophthalmology, orthopedic surgery, and podiatry. It also provides SurFactor, an injectable amniotic tissue allograft that offers protective cushion to the damaged joints, tendons, cartilage, ligaments, and other soft tissues. Additionally, the company offers SurForce, a highly concentrated, cryopreserved, minimally manipulated, and biological injectable.
Similarly, the US-based Genesis Biologics provides amniotic fluid and amniotic membrane products that are used to treat conditions such as inflamed nerves, intra-articular pain, muscle tears, plantar fasciitis, repetitive motion injuries, soft tissue injuries, and tendonitis.
Further, an-vision GmbH, headquartered in Germany, offers Vetrix EyeQ amniotic eye drops that provides superior healing environment suitable for corneal tissue repair.
Thus, the growing trend of developing amniotic membrane-derived products is likely to favor the growth of the market during the forecast period.
The growth of the market is attributed to the factors such as growing applications of amniotic membrane and rising number of target patient population. However, the challenges in using amniotic membranes such compatibility are expected to hinder the market growth.
Applied Biologics LLC; Integra Life Sciences Corporation; Skye Biologics Inc.; MiMedx; Organogenesis Inc.; Smith & Nephew; Amniox Medical, Inc.; Katena Products. Inc.; Amnio Technology, LLC; and Surgenex, LLC are among the prominent players operating in the amniotic membrane market. The market players are focused on organic strategies to sustain their position in the market. For instance, in August 2020, TissueTech, Inc.’s proprietary PROKERA Slim corneal bandage, an amniotic membrane medical device was approved for eye care professionals’ use in Taiwan.
The report segments the global amniotic membrane market as follows:
By End User