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Future Market Insights

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Europe and APAC Promising Markets in Global Amniotic Membrane Market

According to the latest market report published by Future Market Insights titled ‘Global Amniotic Membrane Market: Global Industry Analysis 2013 – 2017 and Opportunity Assessment 2018 – 2028’, the global amniotic membrane market is expected to expand at a compound annual growth rate (CAGR) of 9.3% over the 2018–2028 forecast period.

FMI estimates that the global market for amniotic membranes is to be valued at $955.2m in 2018 and is expected to expand at CAGR of 9.3% over the 2018–2028 period, to surpass $2.322bn by 2028 end.

Based on product type, the cryopreserved amniotic membrane segment dominated the global amniotic membrane market with more than 70% value share in 2017. The segment is expected to grow at above 9% CAGR over the 2018–2028 forecast period. North America is expected to maintain its dominance in the global market due to regulatory approvals of several new products in the US.

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 capitalise on the emerging latent opportunity.

The companies in the market are optimistic in regards to 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 span of 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 growing human population with various chronic diseases.

Amniotic membrane products such as amniotic allograft membranes and amniotic allograft suspensions 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 membrane and lyophilised amniotic membrane evolved in the 1990s, but became significant. The market for amniotic membranes to be used on humans has greatly increased over the past fifteen years.

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

By volume, the global amniotic membrane market is expected to expand at 11.4% over the 2018–2028 forecast period. With nearly 43% market value share, North America dominated the global amniotic membrane market in 2017, partly due to penetration of newly approved products in the US and Western Europe. The UK, France and Germany are expected to gain 110BPS in their market share over the 2018–2028 forecast period.

The Asia Pacific excluding Japan (APEJ) market is expected to be the third largest for amniotic membranes. APEJ and China collectively are expected to contribute a 15% share of the global market by 2028.

The market for amniotic membranes is highly consolidated with the top five players contributing more than 60% of the revenue share in 2017. Examples of some of the key players identified in the global market are Integra LifeSciences, MiMedx Group, Alliqua BioMedical, Skye Biologics, Katena Products, Tissue-Tech, Amnio Technology, Applied Biologics and Human Regenerative Technologies.

The 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 membrane market are:

  • FMI forecasts the global amniotic membrane market to grow at a CAGR of 9.3% by 2028. The growth in revenue generation across the amniotic membrane market is registered on the account of a rise in amniotic membrane transplants in both developed and developing economies.
  • The hospital segment has proved to be the leading end-user segment on account of an increase in the number of amniotic membrane transplants and growing patient awareness of the benefits of an amniotic membrane transplant.
  • Ease of US Food and Drug Administration (FDA) approval for novel and innovative amniotic membrane allografts coupled with the adoption of amniotic membrane for varied applications would boost the revenue growth in Germany and the US markets.
  • Apart from major applications such as surgical wound and ophthalmology, the use of amniotic tissue in orthopaedic surgery, sports medicine and podiatry treatment has increased in the recent years.
  • The amniotic membranes used majorly to treat human surgical wound needs to be FDA approved, thus amniotic membrane manufacturers focus on getting fast FDA approvals.

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