The amniotic membrane market comprises amniotic membrane-based products used for various applications in wound care, ophthalmology, and reconstructive surgeries. Amniotic membrane obtained from placenta promotes faster healing of wounds and damaged tissues due to its anti-inflammatory and anti-scarring properties. It acts as a biological dressing and scaffold to enhance re-epithelialization and replace damaged epithelia. The growing prevalence of chronic wounds such as diabetic foot ulcers and increasing awareness about advantages of amniotic membranes are driving the demand for amniotic membrane products significantly.
The Global Amniotic Membrane Market is estimated to be valued at US$ 3.62 Bn in 2024 and is expected to exhibit a CAGR of 13% over the forecast period 2023 to 2030.
Key Takeaways
Key players operating in the amniotic membrane are 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, Surgenox, and Ventri Medical. The rising prevalence of chronic diseases and increasing adoption of advanced wound care treatment options have fueled the demand for amniotic membrane products globally. Also, favorable reimbursement policies for wound care treatment and rising product approvals are expected to boost market growth during the forecast period. With growing clinical evidence on effectiveness of amniotic membranes, major players are focusing on geographic expansion plans to strengthen their market position.
Market Key Trends
One of the key trends observed in the amniotic membrane market is the increasing adoption of amniotic membrane for regenerative medicine applications. Amniotic membrane provides an ideal scaffold suitable for tissue regeneration due to expression of various growth factors and anti-scarring properties. Researchers are exploring its potential for regenerating tissues such as small intestinal submucosa, cartilage, bone, tendons, liver, fat, and vasculature. Considering its wound repair and anti-fibrotic properties, amniotic membrane can serve as a promising biomaterial for various regenerative therapies and tissue-engineered products. This expanding application scope of amniotic membrane in regenerative medicine holds immense growth opportunities for participants in this market.
Porter's Analysis
Threat of new entrants: Low barrier for new companies to enter into market as technologies required for amniotic membrane production are widely available. However, established players have strong brand names and distribution network.
Bargaining power of buyers: Buyers have moderate bargaining power as there are many established manufacturers providing amniotic membrane products. Buyers can negotiate on price to some extent.
Bargaining power of suppliers: Suppliers have low bargaining power due to availability of suppliers for amniotic membranes and other raw materials required. Suppliers do not have pricing power against manufacturers.
Threat of new substitutes: Threat of substitution is low as amniotic membrane has certain unique characteristics and advantages over other wound care products.
Competitive rivalry: Intense competition among existing players to increase their market share. Companies compete based on product quality, reliability, price and innovation.
The North American region accounts for around 40% of the global amniotic membrane market in terms of value, owing to high adoption of advanced wound care treatments and presence of major industry players in the region. The Asia Pacific region is expected to witness fastest growth during the forecast period, attributed to increasing medical tourism, rising geriatric population, and growing awareness about advanced wound care therapies.
The United States holds largest share of the North American amniotic membrane market due to advanced healthcare infrastructure and availability of reimbursement. China dominates the Asia Pacific market and is poised to grow at highest CAGR during 2023-2030 period led by growing medical facilities, and rising healthcare expenditure in the country.
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