Amniotic Membrane Market Size

Amniotic Membrane Market Analysis

The amniotic membrane market is expected to register a CAGR of 11.1% over the forecast period.

• The outbreak of the COVID-19 pandemic impacted the amniotic membrane market initially. Most elective surgeries were suspended globally to mitigate the spread of COVID-19 infection. Due to delayed surgeries and the closure of elective procedures, most of the end-users witnessed the expiry of their stock of amniotic membranes coinciding with the COVID-19 outbreak, which adversely impacted the market. However, the growth of the market studied was balanced by the increasing need for surgeries and ophthalmic procedures accompanied by increased childbirth globally.
• An article, 'Amniotic membrane harvesting during COVID-19 pandemic,' published in March 2021, suggested that whether amniotic membranes from infected donors carry COVID-19 is unknown, and the probability of vertical transmission is low risk and not definite. Hence, followed by several research studies, the usage of amniotic membranes significantly increased in ophthalmic centers. Thus, the COVID-19 pandemic is anticipated to have a positive impact on the market studied.
• Factors such as a rise in the number of accident and trauma cases, increasing awareness about the benefits offered by an amniotic membrane, and rising research on stem cell biology and regenerative medicine are the major driving factors for the studied market growth. Additionally, the growing number of surgeries performed and rising expenditure on research and development (R&D) in the field of stem cells and regenerative medicine are also some of the key factors driving the overall market.
• For instance, as per the data published by the United States Department of Labor in December 2022, over 5,190 fatal work injuries were reported in the United States in 2021, which increased from 4,764 cases compared to 2020. Burn injuries represent a significant disease burden on the world population, with nearly 9 million injuries and an estimated 120,000-180,000 deaths annually, as mentioned in the research paper 'Burn injury prevention in low- and middle- income countries (LMICs): scoping systematic review' published in October 2021. According to the above-mentioned research, almost 18 million disability-adjusted life years (DALYs) can be accounted for burns, with a disproportionate 90% of this burden which is borne by LMICs. Also, in Bangladesh, Colombia, Egypt, and Pakistan, burn injuries account for up to 18% of permanent disabilities, as per the same research above. The amniotic membrane is commonly used to treat up to second-degree burn wounds. Thus, the rising burden of burn injuries globally is expected to create a high demand for the amniotic membrane for the purpose of tissue repair and regeneration, and it is expected to boost the market growth over the forecast period.
• The market studied consists of several major players, and their strategic product innovation is garnering market growth. For instance, in August 2021, Vivex Biologics, Inc., a leading regenerative medicine company, launched Cygnus Matrix Disks, which is the latest configuration from the Cygnus family of amniotic tissue allografts. Thus, the continuous innovation in the amniotic membrane segment is expected to drive the overall growth of the market studied.
• Therefore, owing to the aforementioned factors, it is anticipated that the studied market will witness growth over the analysis period. However, the lack of standardized guidelines and skilled professionals will likely impede market growth.