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The global amniotic membrane market was valued at $812 million in 2016, and is expected to reach $1,563 million by 2023, registering a CAGR of 9.7% during the forecast period.
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Amniotic membrane has potential benefits in the field of ophthalmology as well as surgical wounds and orthopedic wounds owing to its ability of promoting healing. Amniotic membrane transplantation is currently being used for a continuously widening spectrum of ophthalmic indications as it is an effective method of reconstruction of the ocular surface. Thus, the steady increase in use of amniotic membrane is expected to supplement the growth of amniotic membrane market globally. Get Sample Report
According to a new report published by Allied Market Research, titled, Amniotic Membrane Market by Product, Application, and End User: Global Opportunity Analysis and Industry Forecast, 2017-2023," the global amniotic membrane market was valued at $812 million in 2016, and is projected to reach $1,563 million by 2023, growing at a CAGR of 9.7% from 2017 to 2023. The cryopreserved amniotic membrane segment accounted for about three-fourth share of the global market in 2016.
Amniotic membrane is the innermost layer forming the fetal membranes. Amniotic membrane has the ability to promote healing and hence it is being utilized in surgical procedures related to genitourinary tract, skin, brain, and head and neck. In addition, amniotic membrane can also be used as a dressing to ease ocular surface reconstruction and promote healing for various ailments. The rise in geriatric population and the increased adoption of amniotic membrane for varied applications are the major factors that drive the growth of this market. However, dearth of healthcare professionals is the key restraint for the market growth. Moreover, the increase in awareness about the advantages of amniotic membrane in various surgical procedures that enhances the surgeries, would offer lucrative opportunities for the market growth in the foresee future.
Key Findings of the Amniotic Membrane Market: • The other applications segment accounted for about one-ninth share of the total market in 2016, and is expected to register a CAGR of 10.8% from 2017 to 2023. • The ophthalmology segment accounted for one-fourth share of the total market in 2016 and is expected to grow at a high CAGR of 11.2% during the forecast period. • The U.S. dominated the North American amniotic membrane market and is projected to grow at a CAGR of 9.2% from 2017-2023. • Hospitals end user dominated the amniotic membrane market accounting for one-third share of the total market is expected to grow at a high CAGR of 10.0% during the forecast period.
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