The global amniotic membrane market is anticipated to secure a market value of USD 11.12 Bn in 2032 while expanding at a CAGR of 14% during the 2022-2032 forecast period, projects a recently published Fact.MR study. Growing demand for surgeries for aesthetic appeal is likely to enhance the market growth significantly.
From 2015 to 2021, sales of amniotic membranes expanded at a CAGR of 14%, reaching US$ 2 Bn by the end of the aforementioned historical period. During the COVID-19 pandemic, prospects somewhat declined, as high priority was given to patients infected with the diseases. This led to the relegation of non-COVID procedures to a later date, causing a decline in deployment.
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The American Society of Plastic Surgeons revealed that there were about 17.7 million cosmetics surgeries in 2018. In addition, the increasing ocular disorder is likely to grow demand for techniques such as amniotic membrane transplant, which is projected to boost the market in the forecast period. Furthermore, growing initiatives to improve the efficiency of amniotic membranes is anticipated to expand the market size in forthcoming years.
Key Takeaways from the Market Study
- The global amniotic membrane market to value about USD 3 Bn in 2022
- North America to accumulate a revenue share of about 30% for amniotic membranes in 2032
- Europe to experience noteworthy growth, accelerating at a CAGR of 10% through 2032
- By application, surgical wounds to comprise 36% of the global market revenue
- Hospitals to be primary end users, expected to account for nearly 2/5th of the global market share
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“The growing popularity of surgeries to enhance aesthetic appeal and the increasing awareness about the benefits of using tissue-based treatment is expected to grow the market in the forecast period.”- says an analyst at Fact. MR.
Competitive Landscape
The players of the global amniotic membrane adopt various strategies to enhance their global influence and secure the forefront position in the market. Some of the recent developments among the key players are:
- In December 2021, Audax Private Equity revealed that it had successfully completed the sale of Katena Products to Corza Medical. Corza Medical is a GTCR portfolio company. Katena is a globally acknowledged entity for offering ophthalmic devices and therapeutics to hospitals, surgical centers, and clinics.
- In July 2002, Merakris Therapeutics rolled out Dermacyte Matrix, which is an amniotic membrane used for the repair and protection of damaged tissues.
- In February 2022, TissueTech, announced its plan of rebranding with a new name and a new logo. BioTissue, Inc and Amniox Medical, Inc. will both be known under a single entity called, BioTissue, Inc.
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More Valuable Insights
Fact.MR, in its new offering, presents an unbiased analysis of the global amniotic membrane market, presenting historical market data (2015-2021) and forecast statistics for the period of 2022-2032.
The study reveals essential insights on the basis of product (cryopreserved and dehydrated), application (surgical wounds, ophthalmology and others) and end use (hospitals, ambulatory surgical centers, specialty clinics and academic & research institutes) across five major regions (North America, Latin America, Europe, Asia Pacific and Middle East & Africa)
Key Market Segments Covered in the Global Amniotic Membrane Market
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By Product
- Cryopreserved Amniotic Membrane
- Dehydrated Amniotic Membrane
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By Application
- Amniotic Membrane for Surgical Wounds
- Amniotic Membrane for Ophthalmology
- Amniotic Membrane for Other Applications
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By End Use
- Amniotic Membrane for Hospitals
- Amniotic Membrane for Ambulatory Surgical Centers
- Amniotic Membrane for Specialty Clinics
- Amniotic Membrane for Academic & Research Institutes
For More Insights- https://www.prnewswire.com/news-releases/demand-for-industrial-gear-solutions-with-complex-designs-driving-gear-measuring-machines-market-factmr-301266718.html
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