Market Trends of Amniotic Membrane Industry
Surgical Wounds Segment is Expected to Grow Significantly Over the Forecast Period
- Amniotic membrane has several antimicrobial and biological properties in corneal surgery, as it enhances epithelialization, reinforces adhesion of basal epithelial cells, maintains epithelial phenotype, and modulates the proliferation of normal corneal, conjunctival, and limbal fibroblast. These membranes also prevent apoptosis as well as inhibit scarring, inflammation, and neovascularization. Several research studies have underlined the diverse applications of amniotic membranes for the surgical treatment of various wounds. For instance, a study published in the journal Membrane in June 2021 highlighted the vast potential of the human amniotic membrane in tissue engineering and tissue regeneration and has shown desirable results in vascular, bone repair, cartilage repair, and oral surgery.
- Furthermore, the key developments by the market players are expected to boost the growth of the segment. For instance, in October 2022, the hydrated human amnion membrane allograft product by BioLab Sciences, Membrane Wrap - Hydro, was recognized by the United States Food and Drug Administration (US FDA) Tissue Reference Group (TRG) as a human cell, tissue/ cellular/tissue-based product (HCT/P). The product is indicated for the management of surgical wounds and other wounds. Such recognition by the USFDA would enable the product to be easily reimbursed by the insurance bodies, which would make the product very affordable and in high demand.
- In September 2022, MiMedx Group, Inc. launched its Amnioeffect, a tri-layer Purion processed human tissue allograft, which consists of the chorion, amnion, and intermediate membrane layers of the placenta. The products offer suitable healing of the surgical wound. The company stated that the product launch would expand its surgical recovery product portfolio. Such developments would create more opportunities for the amniotic membrane to be used in the management of surgical wounds, which would be able to meet the high demand for surgical wound healing.
- Therefore, owing to the factors stated above, the surgical wounds segment is growing, and it is expected to have significant growth over the forecast period. Hence driving the growth of the studied market.
Understand The Key Trends Shaping This Market
Download Sample
North America is Expected to Grow Significantly Over the Forecast Period
- North America is the largest regional market in terms of revenue, owing to high healthcare expenditure, highly developed healthcare infrastructure, and the recent developments by the market players. For instance, according to the data published by the United States Centers for Medicare & Medicaid Services in February 2023, the national healthcare expenditure has increased by 2.7% to USD 4.3 trillion in 2021 compared to 2020.
- The same source also stated that Medicare and Medicaid expenditures increased by 8.4% to USD 900.8 billion in 2021 and 9.2% to USD 734.0 billion, respectively, in 2021 as compared to 2020. The increase in reimbursement of medical products will make medical care products more affordable, and it will enable more patients to adopt medical care, including amniotic membrane products, which will boost the market growth in the region.
- Furthermore, the key developments by market players are anticipated to boost market growth in the North American region. For instance, in March 2021, TissueTech received clearance from the Food and Drug Administration (FDA) to proceed with a Phase 2 study using morselized Cryopreserved Amniotic Membrane (CAM) and Cryopreserved Umbilical Cord (CUC) Investigational New Drug (IND) TTBT01.
- Again, in May 2021, Vivex Biologics, Inc., a leading regenerative medicine company specializing in the development of naturally sourced treatments, launched Viagenex, which is a family of amniotic allografts are processed to retain the inherent mechanical properties of amniotic tissue and rich supply of extracellular matrix, growth factors, and cytokines. Thus, the rigorous product development in countries across North America is expected to boost the amniotic membrane market growth in the region.
- Therefore, owing to the aforementioned factors, the growth of the studied market is anticipated in the North America Region.
Get Analysis on Important Geographic Markets
Download Sample
