Amniotic Products Market growth is largely driven by factors such as growth in the target patient population, the rising incidence of burn injuries, awareness programs for wound care treatment and management, and the rise in venture capital funding and government investments.
The emerging economies and the implementation of the 21st Century Cures Act are expected to provide a wide range of growth opportunities for players in the market. On the other hand, the complications and limitations associated with the use of amniotic membranes are expected to challenge market growth to a certain extent.
Industry Segmentation in Depth:
The amniotic membranes segment is expected to grow at the highest CAGR during the forecast period.
On the basis of type, the amniotic products market is categorized into two segments, amniotic membranes and amniotic suspensions. The amniotic membranes segment accounted for the largest share of the amniotic products market in 2019. It is also projected to record the highest CAGR during the forecast period. Amniotic membranes have anti-inflammatory, anti-angiogenic, anti-fibrotic, and anti-microbial properties. These benefits of amniotic membranes support their adoption. This is a major factor driving market growth.
Hospitals & ASCs are the largest end users of amniotic products.
Based on end user, the amniotic products market is segmented into hospitals & ASCs and other end users. In 2019, hospitals & ASCs accounted for the largest share of the amniotic products market. Factors such as the high demand for wound care biologics (including amniotic tissue products) in hospitals and ASCs, the high patient inflow in this care setting, and the availability of reimbursements are driving the growth of this segment.
North America was the largest regional market for amniotic products in 2019.
The global amniotic products market has been divided into four major regions, namely, North America, Europe, Asia Pacific, and the Rest of the World (RoW). North America accounted for the largest share of the global amniotic products market in 2019. This can be attributed to the high prevalence of target diseases, increasing geriatric population, rising awareness about advanced treatment options, and the strong presence of key market players of amniotic products. The presence of a well-established healthcare system and ongoing investments by hospitals to upgrade & expand their operating capabilities are other factors supporting market growth in North America.
The prominent players operating in this market include MiMedx (US), Smith & Nephew (UK), Organogenesis (US), and Integra LifeSciences Corporation (US). Other players include Stryker Corporation (US), Wright Medical (Netherlands), Applied Biologics (US), Celularity (US), Katena Products (US), Lucina BioSciences (US), Next Biosciences (South Africa), Skye Biologics (US), Surgenex (US), TissueTech (US), Ventris Medical (US), StimLabs (US), VIVEX Biologics (US), LifeCell International (India), NuVision Biotherapies (England), and Genesis Biologics (US).
MiMedx was one of the leading players in the amniotic products market in 2019. This can be attributed to its wide range of amniotic-based product offerings. The company has supplied more than 1.8 million placental tissue-based allografts for various applications in the wound care, burn, surgical, orthopedic, spine, sports medicine, ophthalmic, and dental sectors of healthcare. A significant portion of the firm’s revenue comes from the government since the company provides sales for the same.
We just sent you an email. Please click the link in the email to confirm your subscription!
OKSubscriptions powered by Strikingly