Amniotic membrane market is expected to reach $ 1,563 million by 2023
Amnion market by product, application and end-user published by Allied Market Research: According to a new report titled Global Opportunity Analysis and Industry Forecasting for 2017-2023, the value of the global amnion market in 2016 was 810 million in 2016. It was valued at $5 million. It is expected to reach $1,563 million by 2023, an average annual growth of 9.7% from 2017 to 2023. The cryopreserved amnion sector accounted for about 3/4 of the world market in 2016.
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The amniotic membrane is the innermost layer that forms the fetal membrane. Amniotic membrane has the ability to promote healing, so it is used in the genitourinary tract, skin, brain, and surgical procedures related to the head and neck. In addition, the amniotic membrane can also be used as a dressing that facilitates reconstruction of the ocular surface and promotes healing for various diseases.
The increase in the elderly population and the increased adoption of amniotic membrane in various applications are the main drivers driving the growth of this market. However, the lack of healthcare professionals is a major constraint on market growth. Moreover, increased awareness of the benefits of amniotic membrane in various surgical procedures that enhance surgery will provide a favorable opportunity for market growth in the near future.
Since lyophilized amniotic membrane can be stored at ambient temperature for a long period of time, lyophilized amniotic segment is expected to grow at a significant CAGR during the forecast period. Further, almost 240 amniotic membranes are obtained from a single amniotic membrane sheet.
The surgical wound segment accounted for the largest revenue share in 2016 and is expected to grow at an annual average rate of 8.9% over the forecast period. This is due to the challenges posed by surgical wounds, as they can lead to complications such as surgical ulcers.
The outpatient surgery center is expected to record a significant growth rate of 9.9% over the forecast period due to the advantages of the outpatient surgery center, such as shorter hospital stays and faster recovery after treatment.
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The main discoveries of the amnion market:
• Other applications accounted for about a quarter of the total market in 2016 and are expected to record a CAGR of 10.8% per year from 2017 to 2023.
• The ophthalmology sector accounted for a quarter of the total market in 2016 and is expected to grow to a high CAGR of 11.2% during the forecast period.
• The United States dominated the North American amniotic membrane market and is expected to grow at an annual average rate of 9.2% in 2017-2023.
• Hospital end users dominated the amnion market and the amnion market, which accounts for a third of the total market, is expected to grow at a CAGR of 10.0% over the forecast period.
The Asia-Pacific region is expected to have the highest growth rate in the world market and is expected to continue this trend during the forecast period. This is due to the high population density and increased disposable income in countries such as India and China. In addition, the rapid growth of the elderly population and the increase in the number of eye diseases in developing countries promotes market growth. For example, there are 2.5 million individuals suffering from cataracts in China, and about 1 million children suffer from blindness, which is mainly due to vitamin A deficiency. This promotes market growth by creating sufficient demand for upgraded surgery using amniotic membrane.
The major players operating in the global amnion market are FzioMed, Inc., Skye Biologics Inc., IOP Ophthalmics, Amniox Medical, Inc., Amnio Technology, LLC, Applied Biologics LLC, Alliqua BioMedical, Inc., Human Regenerative Technologies, LLC. Other companies operating in the value chain include AlloCure, Bellicum Pharmaceuticals, Biogen Idec, BIOTIME, Bone Therapeutics, Cell Medica, CESCA THERAPEUTICS and Fibrocell Science.