Market Research Report
Global Ophthalmology Amniotic Membrane Market - 2019-2028
|Global Ophthalmology Amniotic Membrane Market - 2019-2028|
Published: September 9, 2021
Content info: 161 Pages
Delivery time: 1-2 business days
The Global Ophthalmology Amniotic Membrane Market is expected to grow at a high CAGR during the forecasting period (2021-2028).
The amniotic membrane is the placenta's innermost layer, which comprises tissue and cells, which act as a wound healing for re-growth of soft tissue. These amniotic membranes are used in eye surgery for healing and replacing the damaged eye tissues as the biologically active cells are present in the epithelial and stromal layer of the Amniotic membrane release the growth factors and cytokines with anti-inflammatory, anti-immunogenic, and anti-fibrotic properties.
The market growth is driven by the rising demand for the use of amniotic membrane as a biological bandage suitable for use on the eye surface due to its properties such as thin, lightweight, elastic, and transparent. These membranes are used to treat chemical burns, cornea ulcers, and disorders leading to ulcerations during the surgical procedures involving the eye tissue excision.
The market is dominated by the presence of several ophthalmology amniotic membrane products. For instance, Dehydrated AmnioMatrix developed by Next Biosciences is a dry amniotic membrane with the epithelial layer of cells removed. It acts as a scaffold to which new cells can grow once placed on the wound. There is an increase in the research and development activities for developing ophthalmology amniotic membranes over the forecasted period.
The market is witnessing the filing of new patents related to the ophthalmology amniotic membrane. For instance, in May 2018, TissueTech Inc had been awarded patent 9,808,491 by the U.S. Patent Trademark Office. The patent covers the use of a gel composition comprising a morselized placental amniotic membrane and/or morselized umbilical cord as a method for treating an ocular wound or repairing damaged ocular tissue.
The increase in the number of accreditation from the different organizations and associations to several market players shall positively impact the market. For instance, in January 2020, LifeCell International had received accreditation from the American Association of Tissue Banks (AATB) for its birth tissue products, including the placenta, umbilical cord, amniotic fluid, and placental amniotic membrane. This accreditation would position LifeCell as the first & only company in India and outside the US to receive this accreditation. This accreditation certifies the entire process of consent, birth tissue acquisition, processing, release, storage, and distribution.
The global ophthalmology amniotic membrane market is segmented into type Cryopreserved Amniotic Membrane and Lyophilization Amniotic Membrane. The cryopreserved amniotic membrane segment accounts for the highest market share due to the high usage of cryopreserved amniotic membranes in eye surgeries to heal or replace the eye tissue due to their ability to retains the histological and morphological properties of fresh tissue. Slow-rate freezing preservation techniques involving the slow freezing of Cryopreserved amniotic membrane at -80°C using DMEM/glycerol preservation media. This slow-rate freezing preservation technique effectively retains the extracellular matrix components, such as heavy-chain hyaluronic acids, growth factors, fibronectin, and collagen, all of which promote anti-inflammatory effects and healing.
Lyophilization amniotic membrane segment is expected to witness positive market growth in 2019. Lyophilization amniotic membrane has a higher graft take rate, longer shelf life, easier to store, and safer due to gamma irradiation than the Cryopreserved amniotic membrane.
Further, the market is also classified based on end-users into hospitals, ambulatory surgical centers (ASCs), specialty clinics, and research and academic institutes. The hospital segment accounts for the highest market share as the hospitals are primary care settings facilitating easy treatment. A large number of patients with eye disorders visit hospitals. There is the easy availability of ophthalmology amniotic membranes in hospitals. It is further expected that this segment would maintain its dominant position over the forecasted period.
The research and academic institutes segment is expected to have positive market growth owing to rising research and development activities for ophthalmology amniotic membranes. There is an increase in the investment by major companies and organizations for accelerating the development of ophthalmology amniotic membranes.
By region, the global ophthalmology amniotic membrane market is segmented into North America, South America, Europe, Asia-Pacific, Middle-East and Africa. Among all of the regions, the North American region dominated the global ophthalmology amniotic membrane market due to many companies developing the ophthalmology amniotic membrane. The presence of well-developed healthcare infrastructure with increased healthcare spending shall positively impact the market. According to the Committee for a Responsible Federal Budget, healthcare spending is highest in the United States than in other countries. Healthcare spending was USD 3.5 trillion in the United States in 2017.
The Asia-Pacific region is expected to have a significant market share due to increased investment in the research and development activities for ophthalmology amniotic membranes. Several multinational companies are investing in developing countries, especially India, China, and Japan. The market is witnessing the technological advancement for developing ophthalmology amniotic membranes. Growing awareness, rising disposable income, and growing purchasing power shall stimulate market growth over the forecasted period.
The global ophthalmology amniotic membrane market is highly competitive with the presence of several domestic and international players. FzioMed, Inc., Amniox Medical, Inc., Human Regenerative Technologies, LLC, Amnio Technology, LLC, Derma Sciences, and MiMedx Group, Inc are leading market players with a significant market share. Companies are following new product launches, product diversification, market expansion strategies for increasing their market penetration.
The market entry of new players intensifies the market competition. For instance, in July 2018, BioStem Life Sciences had entered the market with four placental-derived tissue products, including the multiple indications, including ophthalmology, orthopedic and advanced wound care markets. These four products are an amniotic tissue allograft flowable matrix, a chorion-free amniotic tissue allograft membrane, an amniotic tissue allograft membrane with a chorion layer, and an extracellular amniotic membrane allograft for ocular repair.
The companies enter into collaborations, mergers, strategic partnerships, purchasing agreements, and acquisitions to increase the demand for ophthalmology amniotic membrane and their expansion across the globe. For instance, in December 2017, AMNIOX Medical, Inc. (a TissueTech, Inc. company) had awarded a group purchasing agreement for Regenerative Skin Grafting Products with Premier. This agreement would allow the premier members to take advantage of special terms pre-negotiated by Premier for the full AMNIOX Medical portfolio of the wound and surgical solutions, known under the respective NEOX CLARINEX brand names.
In March 2017, Altacor had entered into the collaboration with NuVision Biotherapies to distribute the sight-saving therapy, Omnigen in England, Scotland, and Wales. In October 2017, Bio-Tissue had entered into a strategic agreement with Bright Optical for bringing the PROKERA to the Canadian eyecare professionals market. In July 2016, Derma Sciences, Inc. had acquired BioD, LLC for an immediate transaction value of $21.3 million and a potential total transaction value of an estimated $77.8 million. BioD would operate as a wholly-owned subsidiary of Derma Sciences.
The market players are also investing to increase their production capabilities and market expansion around the globe. For instance, in June 2019, TissueTech, Inc., had closed an $82.25m in Series C equity financing. This funding would be used for regulatory approvals from the FDA for several of its development projects to comply with the agency's new guidance documents and support ongoing commercial development.
*The global Ophthalmology Amniotic Membrane report will provide access to approximately 53 market data tables, 44 figures, and 180 pages.