Global Amniotic Membrane Market, By Product Type (Amniotic Membranes (Cryopreserved Amniotic Membranes, Dehydrated Amniotic Membranes), Amniotic Suspensions) By Application (Wound Care, Orthopedics, Ophthalmology, Others), By End User (Hospital, Ambulatory Surgical Centers, Specialty Clinics, Research and Academic Institutes), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) is estimated to be valued at US$ 3.63 Billion in 2023 and is expected to exhibit a CAGR of 13.0% during the forecast period (2023-2030), as highlighted in a new report published by Coherent Market Insights.
Key market players are focusing on adopting growth strategies such as collaboration, agreement to increase their market footprint, which is expected to propel market growth over the forecast period. For instance, on January 11, 2023, Celularity Inc., a U.S.-based biotechnology company developing placental-derived allogenic cell therapies and biomaterial products, and CH Trading Group LLC, an international import, export, and trading company, announced that they had entered into an exclusive territory distribution agreement. CH Trading Group will act as the exclusive territory distributor of Celularity products. Celularity’s suite of biomaterial products includes Biovance, a decellularized, dehydrated human amniotic membrane derived from the placenta of a healthy, full-term pregnancy. Biovance 3L and Biovance 3L Ocular, tri-layer human amniotic membrane products focused on the surgical and ocular markets and available in both sheet and disk form.
Global Amniotic Membrane Market– Impact of Coronavirus (COVID-19) Pandemic
The World Health Organization (WHO) designated the illness caused by the Severe Acute Respiratory Syndrome Coronavirus 2 (SARS-CoV-2), which first appeared in Wuhan (province of Hubei, China) in the last months of 2019, as "coronavirus disease 2019" or COVID-19. This virus spread quickly and had a serious negative impact on the economies, social behaviors, and healthcare of every country in the world.
COVID-19 affected the economy in three main ways: by directly affecting production and demand, by creating disruptions in distribution channels, and through its financial impact on firms and financial markets. Due to the lockdown, several countries, such as India, China, Brazil, and others, faced problems with regard to the transportation of things from one place to another.
COVID-19 had a negative impact on the global amniotic membrane market. For instance, according to an article published in the Nature scientific journal in June, 2020, the amniotic membrane of COVID-19-positive females were tested to be positive for COVID-19 infection. Hence, the article suggests medical practitioners carry out COVID-19 testing on asymptomatic amniotic membrane donors.
Global Amniotic Membrane Market: Key Development
On February 14, 2022, Amnio Technology, a development and distribution company of amniotic tissue allografts, announced the launch of two new PalinGen membrane products, PalinGen® Dual-Layer Membrane and Dual-Layer PalinGen X-Membrane.
Browse 36 Market Data Tables and 26 Figures spread through 180 Pages and in-depth TOC on “Global Amniotic Membrane Market”- Forecast to 2030, Global Amniotic Membrane Market, By Product Type (Amniotic Membranes (Cryopreserved Amniotic Membranes, Dehydrated Amniotic Membranes), Amniotic Suspensions), By Application (Wound Care, Orthopedics, Ophthalmology, Others), By End User (Hospitals, Ambulatory Surgical Centers, Specialty Clinics, Research and Academic Institutes), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa).
To know the latest trends and insights prevalent in this market, click the link below:
https://www.coherentmarketinsights.com/market-insight/amniotic-membrane-market-4477
Key Takeaways of the Global Amniotic Membrane Market:
- The global amniotic membrane market is expected to exhibit a CAGR of 13% during the forecast period. The merger with emerging economies offers lucrative growth opportunities for players in the global amniotic membrane market.
- Among application, the ophthalmology segment is expected to hold a dominant position in the global amniotic membrane market during the forecast period, and this is attributed to increasing research and development activities in the space. For instance, on July 12, 2021, NuVision Biotherapies, a biotechnology company, in conjunction with Dendrite Clinical Systems, a specialist supplier of clinical database and analysis software and consultancy services for the international healthcare sector, launched ROMEO Ophthalmology, a free-to-use online registry platform that allows eye care professionals in the UK and further afield to log their clinical and safety outcomes of all amniotic membrane procedures.
- Among regions, North America is expected to be the dominant region in the global amniotic membrane market, owing to the key players focusing on organic strategies to start new product launches.
- Major players operating in the global 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
