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The amniotic membrane market is used in various medical applications such as wound healing, ophthalmology, surgical & biomedical applications. It acts as a biological scaffold and facilitates cell growth, tissue repair and wound healing. Amniotic membrane demonstrates anti-inflammatory, anti-scarring and anti-angiogenic properties. The rising prevalence of ocular diseases such as keratitis, corneal ulcers and conjunctivitis is driving the demand for amniotic membrane for ophthalmic surgeries. The Global amniotic membrane market is estimated to be valued at US$ 3.62 Bn in 2023 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 include 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 key opportunities in the amniotic membrane market include rising demand for amniotic membrane-derived stem cells in regenerative medicine and tissue engineering applications. Furthermore, amniotic membrane is finding increasing usage in treating burns, diabetic foot ulcers, vascular ulcers and surgical wounds owing to its anti-inflammatory and anti-scarring properties.
The amniotic membrane market is expanding globally due to increasing incidence of ocular surface disorders and wound healing applications. Moreover, rising healthcare expenditure, growing geriatric population and increasing research & development activities in regenerative medicine are fueling the global market growth.
Market drivers
The major market driver for amniotic membrane market is the rising prevalence of ocular diseases globally. As per WHO, it is estimated that 2.2 billion people have vision impairment or blindness around the world in 2020. Other key drivers include growing number of surgical procedures, wound healing applications of amniotic membrane and increasing investments in tissue engineering and regenerative medicine research.
PEST Analysis (This is heading keep it unchanged) Content (Write (250 words) detailed PEST Analysis for given market. Ex. Political: explain in sentence explanation; Economic: explain in sentence explanation; Social: explain in sentence explanation; Technological: explain in two sentence explanation).
Political: The government regulations surrounding the use of amniotic membrane in wound care and other medical applications can influence the market. Regulations need to be followed regarding the processing and use of amniotic tissue products.
Economic: The rising healthcare costs and economic burden of chronic wounds on healthcare systems is driving the demand for advanced wound care options like amniotic membrane. The costs of amniotic membrane products can affect their usage.
Social: With an aging population and rise in lifestyle diseases, the incidence of chronic wounds is increasing which is driving the need for better wound healing solutions. Growing awareness about amniotic membrane therapy and its benefits can promote its usage.
Technological: Developments in processing techniques are helping manufacture amniotic membrane products with standardized quality while reducing costs. New applications of amniotic membrane are being explored in regenerative medicine due to its anti-inflammatory and anti-scarring properties.
Write 300 words long content about geographical regions where market in terms of value is concentrated and another about the fastest growing region for given market.
The amniotic membrane market in North America currently holds the largest share in terms of value, driven by factors such as the rising prevalence of chronic wounds, growing elderly population, availability of advanced treatment options, and favorable reimbursement policies. Within the region, the United States accounts for the maximum demand. Europe is the second largest regional market for amniotic membrane supported by growing research into its clinical applications and rising healthcare expenditures. Asia Pacific is poised to be the fastest growing market during the forecast period owing to the developing healthcare infrastructure, increasing medical tourism, large patient pools, and rising disposable incomes in many countries.
The amniotic membrane market in Asia Pacific region is projected to witness the highest growth during the forecast period. This can be attributed to factors such as the rising geriatric population, growing prevalence of chronic diseases, increasing healthcare spending, rapid improvements in healthcare infrastructure, and spread of medical tourism in the region. Within Asia Pacific, China and India are likely to showcase significant market potentials due to the large patient bases and improving access to advanced treatments in these countries. Furthermore, lower manufacturing and labor costs are encouraging product development activities in Asia Pacific.
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1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
