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Amniotic membrane, also known as the amnion, is the innermost of the three fetal membranes. It acts as a biological scaffold that facilitates tissue regeneration. Amniotic membrane products provide several advantages such as enhanced wound healing, reduced inflammation and scar formation. With increasing cases of burns, diabetic foot ulcers, and ocular surface disease, the demand for amniotic membranes for tissue regeneration is growing rapidly.
The global amniotic membrane market is estimated to be valued at US$ 5.12 billion in 2024 and is expected to exhibit a CAGR of 13% over the forecast period of 2024-2031.
Key Takeaways
Key players operating in the amniotic membrane market 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, Surgenex, and Ventris Medical.
The increasing prevalence of chronic wounds such as diabetic foot ulcers and burns and rising geriatric population are major factors driving the demand for amniotic membrane products for wound care management. According to World Health Organization (WHO), around 15% of all health expenditure is spent on treatment of diabetic foot ulcers alone.
Key players are expanding their global footprint through acquisitions and partnerships to cater to the large untapped growth opportunities in emerging markets. For instance, in 2023, Organogenesis acquired Celularity’s wound care business synergizing their product portfolios and expertise in regenerative medicine. Similarly, MiMedx expanded to over 60 countries through strategic partnerships and distribution agreements.
Market Key Trends
One of the key trends gaining traction in the amniotic membrane market is its increasing application in ocular surface reconstruction. Amniotic membrane exhibits anti-angiogenic properties and supports re-epithelialization of damaged ocular tissues. It is widely used for conditions like pterygium, persistent epithelial defects and keratitis. Furthermore, amniotic membrane is being evaluated for its potential in stem cell therapy and tissue engineering applications owing to presence of growth factors, cytokines and proteins that facilitate regeneration. Leading players are investing in R&D to develop amniotic membrane products incorporated with growth factors, peptides or stem cells for enhanced wound healing properties.
Porter’s Analysis
Threat of new entrants: Low startup costs but industry requires technical skills and expertise to develop amniotic membrane products and meet regulations.
Bargaining power of buyers: Multiple players exist in the market that produce amniotic membrane products providing buyers with alternative options.
Bargaining power of suppliers: Specialized equipment and expertise required to isolate and process the amniotic membrane giving suppliers higher bargaining power.
Threat of new substitutes: Constant research leads to new products that can be substitutes but amniotic membrane still considered the gold standard for wound care and ocular surface reconstruction.
Competitive rivalry: Intense competition among major players to maintain leadership through continuous innovations, new product launches and strategic acquisitions and collaborations.
Europe accounts for approximately 30% share of the amniotic membrane market in terms of value due to favorable reimbursement policies and high adoption of advanced wound care therapies. Countries like Germany, UK, and France are major revenue generators for amniotic membrane products in the region.
Asia Pacific excluding Japan region is expected witness fastest growth during the forecast period owing to rising healthcare expenditure, increasing cases of wounds & injuries due to road accidents, and growth of the medical device industry in China and India. Emerging players from South Korea and India are anticipated to offer significant opportunities.
*Note:
- Source: Coherent Market Insights, Public sources, Desk research
- We have leveraged AI tools to mine information and compile it
