Amniotic Membrane Market to Surpass US$ 7,438.2 Million by 2028, a CAGR of 12.8% over the forecast period (2021-2028)

Published : 3 years ago, on 14/09/2021

Amniotic membrane is an avascular layer of fetal membrane which can be extracted from placenta and stored in a sterile environment right after collection. It can be efficiently used in surgical procedures and in the treatment of ocular diseases or disorders such as ligneous conjunctivitis, corneal disease, etc. as well as for treating tissue damage. An amniotic membrane transplant (AMT) can be done using traditional suture and fibrin glue approach or by an advanced suture-less approach as well. AMT can be used to protect damaged tissues, stimulate growth of new cells, and reduce inflammation and pain by decreasing friction in the eyelids. According to a study published by the National Center for Biotechnology Information (NCBI) in February 2021, 94.3% of people who had undergone amniotic membrane transplant reported of healed epithelial defects while 88% people reported symptomatic relief from symptoms such as dryness, discomfort and pain.

Market players are focused on research and development activities to obtain approvals for novel products or techniques associated with amniotic membrane, this could contribute to the growth of the market over the forecast period. For instance, in 2018, MiMedx, an American biomedical company received the status of Regenerative Medicine Advanced Therapy (RMAT) by the U.S. Food and Administration for its product AmnioFix, an amniotic membrane that is designed for use in osteoarthritis treatment.

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Market players are focusing on product launches, which is expected to strengthen their position in the global market. For instance, on February, 2020, Integra LifeSciences, an American medical technology company launched AmnioExcel Plus amniotic membrane that helps in wound care.

Market players are involved in expanding their global presence by adopting strategies such as acquisitions and partnerships, this is expected to drive the growth of the amniotic membrane market globally. For instance, in 2017, Organogenesis Holdings Inc., an American regenerative medicine company acquired NuTech Medical, an American biologics company, to expand their company product portfolio and support the development of next generation amniotic membrane products.

Detailed Segmentation:

By Product Type:

• • Amniotic Membranes
  • Cryopreserved Amniotic Membranes
  • Dehydrated Amniotic Membranes
  • Amniotic Suspensions

By Application:

• • Wound Care
  • Orthopedics
  • Ophthalmology
  • Others

By End User:

• • Hospitals
  • Ambulatory Surgical Centers
  • Specialty Clinics
  • Research and Academic Institutes

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The COVID-19 pandemic and lockdown in various countries across the globe have impacted the financial status of businesses across all sectors including private healthcare sector. The COVID-19 pandemic has impacted the entire supply chain of the healthcare industry mainly due to strict lockdown in several regions. The COVID-19 pandemic has affected the economy of various regions across the globe in three main ways; 1) by directly affecting the production and demand; 2) by creating disruptions in distribution channels; and 3) through its financial impact on companies and financial markets. Many countries such as Thailand, Indonesia, and Singapore are facing problems with regards to transportation and distribution of healthcare products.

Thus, impact of the coronavirus (COVID-19) pandemic is expected to limit the growth of the global amniotic membrane market during the forecast period, owing to the decrease in the supply of healthcare products, suspension of ophthalmological surgery and risk of positive COVID-19 cases associated with amniotic membrane. For instance, according to an article published in the Nature scientific journal on June, 2020, amniotic membrane of COVID-19 positive females were tested to be positive for COVID-19 infection. Hence, the article suggests medical practitioners to carry out COVID-19 testing of asymptomatic amniotic membrane donors.

Also, COVID-19 pandemic resulted in a halt of ophthalmology procedures due to which the demand of amniotic membrane decreased. According to data provided by the National Centre for Biotechnology Information (NCBI), in case if ophthalmological surgeries are suspended for 2 years due to COVID-19 pandemic, over 1.1 million cases of ophthalmological surgery are estimated to be at halt in Monte Carlo wherein the patients have registered for ophthalmological surgery but the surgery has not been performed yet due to suspension of surgeries in view of the pandemic. This is expected to hamper the growth of amniotic membrane market.

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Major players operating in the global amniotic membrane market include Smith & Nephew, Applied Biologics, Organogenesis Holdings Inc., Osiris Therapeutics, Inc., Alliqua BioMedical, Inc., Amnio Technology, LLC, Next Biosciences, Integra LifeSciences, MiMedx, LifeCell International, Human Regenerative Technologies, LLC, Amniox Medical, Inc, Skye Biologics Inc., Wright Medical, TissueTech, Katena Products, Inc., NuVision Biotherapies, Surgenex, and Ventris Medical

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