The growth of the Amniotic Products market is majorly driven by rising awareness programs for wound care treatment and management and venture capital investments and government funding. However, competition from alternative therapies may challenge the growth of this market.
The report Amniotic Products Market
is projected to reach USD 1,289 million by 2028 from USD 900 million in 2023,
at a CAGR of 7.4% during the forecast period.
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Market Segmentation: -
The Europe amniotic products market is segmented
into Germany, France, the UK, and the Rest of Europe. UK is projected to occupy
the highest share during the forecast period. The major factors contributing to
the growth of this market are the high prevalence of diabetes and venous ulcers
in the UK, increasing R&D activities, strategic developments by key
players, and the growing geriatric population.
Based on the end user, the amniotic products market
is segmented into Hospitals, & Ambulatory Surgical Centers, and Other End
Users. The Hospitals, & Ambulatory Surgical Centers registered the highest
CAGR, increasing hospital admissions due to chronic wounds (such as pressure
and diabetic foot & venous leg ulcers) and the rising incidence of
hospital-acquired pressure ulcers are key drivers for the growth of this
end-user segment.
Regional Analysis:
The APAC amniotic products market is segmented into
Japan, China, and Rest of Apac. In 2022, China accounted for the largest share
of the Asian amniotic products market. The large share of China can be
attributed to the economic growth in the country, rising incidence of diabetes,
significantly high cases of road accidents, increasing disposable income of the
middle-class population, growth in the geriatric population, and favourable
government support.
Recent
Developments of Amniotic Products Industry
- In 2021, The company VIVEX
Biologics (US) launched Cygnus Matrix Disks with the latest configuration
of the Cygnus family of amniotic tissue allografts.
- In 2021, MiMedx (US) received
approval from the Japanese Ministry of Health, Labour, and Welfare for the
commercialization of EPIFIX in Japan.
- In 2021, The company Celularity
Inc. (US) entered into an exclusive distribution agreement for the
commercial distribution rights for orthopedic surgery and sports medicine
products with Arthrex, Inc. (US).
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Top Key Players:
The significant players in the amniotic products
market are mimedx (US), Smith+Nephew (UK), Organogenesis Inc. (US), Integra
LifeSciences (US), Stryker (US), APPLIED BIOLOGICS. (US), Celularity
Inc. (US), Corza Ophthalmology (US), Lucina BioSciences (US), and Next
Biosciences. (South Africa).
Conclusion:
The Amniotic Products Industry is poised for
substantial growth, driven by increasing awareness, investments, and the need
for innovative solutions in wound care and regenerative medicine. As we move
forward, it will be exciting to witness how this industry continues to evolve
and contribute to improving patient outcomes worldwide.
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