New York, Oct. 20, 2022 (GLOBE NEWSWIRE) -- Kenneth Research has published a detailed market report on ‘Global Amniotic Membrane Market’ for the forecast period, i.e. 2022 – 2031 which includes the following factors:
- Market growth over the forecast period
- Detailed regional synopsis
- Market segmentation
- Growth drivers
- Challenges
- Key market players and their detailed profiling
Global Amniotic Membrane Market Size:
The global amniotic membrane market is estimated to grow with a CAGR of ~5% over the forecast period. The growth of the market can be attributed to rise in number of burn cases. According to the World Health Organization, burns are thought to be the cause of 180 000 fatalities annually, with the majority taking place in low- and middle-income nations. In past few years amniotic membrane has gained huge importance owing to its ability of restoring the epidermal function and integrating itself into healing process.
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Amniotic membrane is also used as a patch in the treatment of eye diseases, depending on the indications. Hence growing prevalence of dry eyes is another important factor expected to boost the growth of the market. Newly developed treatments for challenging cases of dry eye illness use amniotic membranes. These membranes are ethically obtained stem cell tissues that have the ability to mend and regenerate the surface of the eye.
About 20 million Americans aged 50 or older have less severe dry eye symptoms, while about 5 million have more severe symptoms.
Global Amniotic Membrane Market: Key Takeaways
- North America to hold the highest market share
- Cryopreserved amniotic membranes segment to propel highest growth
- Asia Pacific region to show significant presence
Rise in Accidents and Sport Injuries to Boost Market Growth
Athletics playing sport getting injuries is quite common. However, sometimes the injury could be severing. Sports-related injuries are the second most common reason that kids and teenagers visit the ER, and they are also the second most common reason that kids and teenagers are hurt at school. Approximately 2 million young people are treated for sports-related injuries in hospital emergency departments, and another about 4 million young people are treated for injuries by their general care physician or at a sports medicine clinic. Hence this factor is estimated to boost the growth of the amniotic membrane market.
In the modern world, there are various events that might cause tissue damage or dysfunction, such as trauma or congenital or genetic illnesses. There has been growing cases of accidents all across the world. According to World Health Organization, a road traffic accident results in the premature death of about 1.3 million persons each year. Between 20 and 50 million additional people have non-fatal injuries, with many of them becoming disabled as a result.
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Global Amniotic Membrane Market: Regional Overview
The global amniotic membrane market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa region.
Growing Geriatric Population to Drive Market Growth in North America Region
The amniotic membrane market in North America is estimated to garner the largest revenue by the end of 2031, backed by growing geriatric population in this region. The number of Americans aged 45 to 64 (who might turn 65 over the next 20 years) increased by 4% from 80.3 million to 83.3 million between 2009 and 2019. Americans aged 60 and over climbed from 55.7 million to 74.6 million, a 34% rise. Dry eye disease is commonly seen in older people. Hence the demand is expected to increase.
Rising Burning Incidences to Favour Growth in Asia Pacific Region
The market in the Asia Pacific region is estimated to show significant growth by the end of 2031. The growth of the market in this region can be attributed to rising burning incidences. According to the World Health Organization, every year, more than 100,000 people in India suffer mild to severe burns. Another factor expected to boost the growth of the market in this region includes high population growth, increased spending on reconstructive surgeries.
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The study further incorporates Y-O-Y growth, demand & supply and forecast future opportunity in:
- North America (U.S., Canada)
- Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC [Finland, Sweden, Norway, Denmark], Poland, Turkey, Russia, Rest of Europe)
- Latin America (Brazil, Mexico, Argentina, Rest of Latin America)
- Asia-Pacific (China, India, Japan, South Korea, Indonesia, Singapore, Malaysia, Australia, New Zealand, Rest of Asia-Pacific)
- Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of Middle East and Africa).
Global Amniotic Membrane Market, Segmentation by Product Type
- Cryopreserved Amniotic Membranes
- Lyophilized Amniotic Membranes (Dehydrated Amniotic Membrane)
The cryopreserved amniotic membranes segment is anticipated to hold the largest revenue by the end of 2031, owing to its increasing use in ophthalmic surgeries. According to studies, it is capable of successfully reducing inflammation in HSV keratitis, the main cause of blindness. In addition, according to the American Academy of Ophthalmology, HSV Keratitis is becoming more common, with 1.5 million cases reported annually worldwide.
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Global Amniotic Membrane Market, Segmentation by End-User
- Hospitals
- Specialized Clinics
- Ambulatory Surgical Centers
- Academic Research Centers
The hospital segment is estimated to hold the largest market share over the forecast period. The growth of the segment can be attribute to large number of people visiting hospitals. According to an estimation, over 35 million people were admitted to hospitals in the US in 2019. Another reason that is anticipated to boost market expansion is the increasing use of amniotic membranes in ASCs. These products are simple to apply, efficient, and help the wound heal without requiring numerous trips to clinics or hospitals.
Global Amniotic Membrane Market, Segmentation by Application
- Surgical Wounds
- Dermatology
- Ophthalmology
- Others
Few of the well-known market leaders in the global amniotic membrane market that are profiled by Kenneth Research are MIMEDX, Inc., Skye Biologics Holdings, LLC, Katena Products, Inc., Amnio Technology, LLC, Applied Biologics LLC, Integra LifeSciences Corporation, Human Regenerative Technologies, LLC, Stryker, Organogenesis Inc., BioTissue, Inc., and other key market players.
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Recent Development in Global Amniotic Membrane Market
- In June 15, 2022, A collaborative agreement between MiMedx Group, Inc., a revolutionary placental biologics firm, and Nordic Bioscience Clinical Development A/S (NBCD), a premier Contract Research Organization (CRO) that specialises in osteoarthritis (OA) clinical trials, was announced. The Company's placental biologic injectable, micronized dehydrated Human Amnion Chorion Membrane (mdHACM), may act as a Disease Modifying Osteoarthritis Drug (DMOAD) and possibly moderate the progression of OA. Image Analysis Group, a specialist imaging company, will also provide cutting-edge tools to detect this potential.
- In June 27, 2022, The research undertaken by the co-founder and chief technology officer of BioTissue, Inc., a pioneer in using human birth tissue to enable regenerative repair for ocular surface diseases, has become the most widely cited laboratory study in the field of corneal research.
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