Global Amniotic Membranes Industry Poised to Exceed US$2.3 Billion by 2028 with Impressive 9.0% CAGR | FMI Analysis Reveals

The Global Amniotic Membranes Industry is embarking on an extraordinary growth journey, anticipated to achieve a value of approximately US$1.4 billion in 2022. Future Market Insights (FMI) has released its latest report, forecasting an impressive Compound Annual Growth Rate (CAGR) of 9.0% from 2022 to 2028. By the close of 2028, the industry is projected to reach a staggering US$2.3 billion.

The driving force behind this exponential growth is the increasing adoption of amniotic membranes in ophthalmology, a trend underscored by the insights presented in the ‘Global Amniotic Membranes Industry’ report by Future Market Insights.

According to the report, the market is poised for a substantial CAGR of 9.3% from 2018 to 2028, starting at US$955.2 million in 2018 and projected to surge beyond an impressive US$2,322 million by 2028. Of particular significance is the dominance of cryopreserved amniotic membranes, commanding a substantial 70% market share and expected to sustain growth at a commendable 9% CAGR from 2018 to 2028.

In the geographical landscape, North America is expected to retain its leading position, primarily driven by regulatory approvals for new products in the U.S. These developments underscore the immense potential and opportunities within the global amniotic membranes industry.

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The population of all age groups has emerged as a prominent consumer base, characterised by untapped product segments for amniotic membranes to offer effective wound healing and eye surgeries. This has prompted the amniotic membrane product manufacturers to capitalize on the emerging latent opportunity. The companies in the market are optimistic about increasing amniotic membrane transplants and increasing demand for amniotic membrane products around the world, particularly in North American countries. It is more than likely that over the next four to five years, the companies focus on developing innovative products and designing market-level strategies to leverage the potential opportunities emerging in parallel with the growing human population with various chronic diseases.

Amniotic membrane products such as Amniotic Allograft Membrane and Amniotic Allograft Suspension used to treat surgical wounds and defects of the corneal epithelia have gained traction over the last two decades. The major types of amniotic membranes such as cryopreserved amniotic membranes and lyophilized amniotic membranes evolved back in the 1990s, but they became significant and the market for amniotic membranes to be used on humans boomed over the past fifteen years.

The global amniotic membrane market has been segmented based on product type, application, end-user and region. Globally, cryopreserved amniotic membrane is the most attractive segment from manufacturers’ point of view. Cryopreserved amniotic membrane is majorly used in ocular surface eye surgery owing to its positive effect on wound healing due to its anti-inflammatory properties. Among all end users of amniotic membranes, high demand for amniotic membranes is expected to come from the hospital segment due to the rising application of amniotic membranes in advanced surgical healing.

By volume

The global amniotic membrane market is expected to expand at 11.4% over the forecast period of 2018–2028. With nearly 43% market value share, North America dominated the global amniotic membrane market in 2017, partly due to the penetration of newly approved products in the U.S. Western Europe, the second largest market globally, with the U.K., France and Germany being countries with high growth rates., is expected to gain 110 BPS in its market share over 2018–2028. APEJ is expected to be the third-largest market for amniotic membranes. APEJ and China collectively are expected to contribute over 15% share in the global market by 2028 over 2018.

The market for amniotic membranes is highly consolidated with the top 5 players contributing over 60% of the revenue share in 2017.

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Examples of some of the key players identified in the Global Amniotic Membranes Industry are Integra

1. LifeSciencesm Inc.
2. MiMedx Group, Inc.
3. Alliqua BioMedical, Inc.
4. Skye Biologics Inc.
5. Katena Products, Inc.
6. Tissue-Tech Inc.
7. Amnio Technology, LLC
8. Applied Biologics LLC
9. Human Regenerative Technologies, LLC

Depth of research, along with proper documentation and statistical validation are factors that could determine a player’s success in the global amniotic membrane market

Some of the key points identified in the Global Amniotic Membranes Industry are:

• FMI forecasts the global amniotic membrane market to grow at a CAGR of 9.3% over the forecast period by 2028 end. The growth in revenue generation across the amniotic membrane market is registered on the account of rise in amniotic membrane transplants in both developed and developing economies.
• The hospitals segment has proved to be the leading end-user segment on account of the increase in several amniotic membrane transplants, and growing awareness among the people about the benefits of the amniotic membrane transplant.
• Ease of FDA approval for novel and innovative amniotic membrane allografts coupled with the adoption of amniotic membranes for varied applications would boost the revenue growth in Germany & the U.S. markets.
• Most often, apart from major applications including surgical wound and ophthalmology, the use of amniotic tissue in orthopaedic surgery, sports medicine and podiatry treatment has increased in recent years.
• The amniotic membranes used majorly to treat human surgical wounds need to be FDA-approved, thus amniotic membrane manufacturers focus on getting fast FDA approvals.

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Key Segments of Global Amniotic Membranes Industry Survey

Global Amniotic Membranes Industry by Product Type:

• Cryopreserved Amniotic Membranes
• Lyophilized Amniotic Membranes

Global Amniotic Membranes Industry by Application:

• Surgical Wounds
• Ophthalmology
• Others

Global Amniotic Membranes Industry by End User:

• Amniotic Membrane Treatment in Hospitals
• Amniotic Membrane Treatment in Specialized Clinics
• Amniotic Membrane Treatment in Ambulatory Surgical Centres
• Amniotic Membrane Treatment in Academic Research Centres

Global Amniotic Membranes Industry by Region:

• North America Amniotic Membranes Market
• Latin America Amniotic Membranes Industry
• Europe Amniotic Membranes Market
• East Asia Amniotic Membranes Industry
• South Asia & Pacific Amniotic Membranes Market
• Middle East & Africa (MEA) Amniotic Membranes Industry

Author

Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.

Identifying key challenges faced by clients and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.

Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5,000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

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