The global amniotic membrane market size is expected to reach USD 5.81 billion by 2025
LONDON, March 18, 2019 /PRNewswire/ -- Amniotic Membrane Market Size, Share & Trends Analysis Report By End Use (ASC, Hospital), By Enzyme (Dehydrated, Cryopreserved), By Application (Ophthalmology, Surgical Wounds), And Segment Forecasts, 2018 - 2025
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The global amniotic membrane market size is expected to reach USD 5.81 billion by 2025, according to a new report by Grand View Research, Inc. The market is estimated to witness a CAGR of 12.6% during the forecast period. Rise in trauma, burn cases and resulting surgeries along with increasing awareness regarding the benefits of these products are boosting the market growth. Rising number of cosmetic surgeries performed is also anticipated to drive the market during the forecast period. Amniotic membrane is also used in the treatment of a large number of ocular surface diseases as it protects surfaces from microbial colonization preventing the risk of infections.
Moreover, presence of growth factors including basic Fibroblast Growth Factor (bFGF), Transforming Growth Factors (TGFs), Epidermal Growth Factor (EGF), Vascular Endothelial Growth Factor (VEGF), Nerve Growth Factor (NGF), and Keratinocyte Growth Factor (KGF) in amniotic membranes promote wound healing, accelerating its adoption globally.Thus, its benefits, such as anti-inflammatory properties, reduced fibrosis and scarring at the site of surgery, pain reduction, and wound healing properties, are also fueling the demand.
These products are thus most commonly used in surgeries, treatment of venous, pressure, and diabetic foot ulcers, ophthalmology, and in the management of chronic wounds.
The American Association of Tissue Banks is a non-profit organization that regulates tissue donation in U.S. Presence of such tissue banks ensures zero disease transmission, which, in turn, propels market growth. Furthermore, a number of institutes are trying to introduce novel areas of applications for these products by focusing on the research activities in stem cell and regenerative medicines. This factor is also likely to support market expansion. The use of cryopreserved amniotic membrane is largely seen in hospitals, Ambulatory Surgical Centers (ASCs), and specialty clinics. Lyophylization of the tissue post donation preserves the histological and biological activity of the tissue facilitating faster wound recovery.
Further key findings from the study suggest:
• Cryopreserved is expected to be the dominant segment in future as it's highly effective and ensures preservation of histological and biological properties
• Surgical wounds segment is projected to witness high growth due to increasing usage of these products for surgical applications
• Specialty clinics are anticipated to register the highest CAGR during the forecast period due to increasing number of cosmetic and reconstructive surgeries being performed
• North America is a leading regional market owing to presence of a large number of key companies and high incidence of chronic and infectious diseases
• The Asia Pacific region is expected to record the highest CAGR during the forecast period due to growing population and rising incidence of chronic diseases and burn injuries
• Major companies in the amniotic membrane market include Alliqua BioMedical Inc.; Amnio Technology, Applied Biologics LLC; Human Regenerative Technologies DermaSciences; Katena Products, MiMedx Group Inc.; and Skye Biologics, Inc.
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