According to a new report published by Progressive Markets Report, titled, "United States Amniotic Membrane Market by Product and Application: United States Opportunity Analysis and Industry Forecast, 2012-2022," the United States amniotic membrane market was valued at $189 million in 2012, and is projected to reach $722 million by 2022, growing at a CAGR of 13.6% from 2017 to 2022. The cryopreserved amniotic membrane is anticipated to be the highest revenue contributor during the forecast period.
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Amniotic membrane is the innermost layer of the placenta, which consists of a thick basement membrane and an avascular stromal matrix. It can been used as a graft and as a dressing to ease ocular surface reconstruction and promote healing for various ailments. Advanced wound care products, such as amniotic membranes, are gaining preference over traditional products, as they promote faster wound healing
The United States amniotic membrane market is driven by different factors such as increase in elderly population, growth in awareness to reduce healthcare costs, and technological advancements associated with amniotic membrane applications. However, dearth of skilled professionals involved in amniotic membrane treatment procedures restricts the market growth.
The impact of the drivers is significantly higher than that of the restraints in this market. Rise in awareness about the advantages of amniotic membrane transplants among the populace is expected to provide lucrative opportunities for market growth during the forecast period.
In the product segment, cryopreserved lyophilized amniotic membrane accounted for nearly 77% of share in 2012. The lyophilized amniotic membrane on the other hand is anticipated to be the fastest growing segment, poised to grow at a CAGR of 16.1% from 2017 to 2022. Based on region, the west region is anticipated to dominate the United States amniotic membrane market.
In the application segment, surgical wounds segment accounted for nearly 67% of the share in 2012. The ophthalmology segment is anticipated to grow at the highest CAGR of 15.4% from 2017 to 2022, owing to the fast recovery associated with amniotic membrane utilization for different eye-related ailments.
The study offers a comprehensive analysis of the key manufacturers operating in the United States amniotic membrane industry. An overview of each market player is provided in the study to assist market players, new entrants, investors, and stakeholders determine steps to be taken to achieve growth in the future.
The report highlights their overview, business performance, key strategic moves & developments, and market share with respect to the market players in the report. Important market players studied in the report include Fziomed, Inc., Skye Biologics Inc., IOP Ophthalmics, Amniox Medical, Inc., Amnio Technology LLC, Applied Biologics LLC, Alliqua Biomedical, Inc., Human Regenerative Technologies, LLC, Derma Sciences Inc., and Mimedx Group, Inc. Information about the players assists in assessing the competitiveness prevailing in the United States amniotic membrane market.