(PharmaNewsWire.Com, October 30, 2020 ) According to the new market research report “Amniotic Products Market by Type [Amniotic Membranes (Cryopreserved Amniotic Membranes, Dehydrated Amniotic Membranes), Amniotic Suspensions], Application (Wound Care, Ophthalmology, Orthopedics), End User (Hospital, ASCs) – Global Forecast to 2025″ published by MarketsandMarkets™.
Revenue Growth Opportunities and Growth Drivers?
The Global Amniotic Products Market is projected to reach USD 1,095 million by 2025 from USD 748 million in 2020, at a CAGR of 7.9%.
Growth Boosting Factors:
- Growth in the target patient population - Rising incidence of burn injuries - Awareness programs for wound care treatment and management - Rise in venture capital investment and government funding - Implementation of the 21st Century Cures Act (US)
On the basis of type, the Amniotic Membranes 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.
Based on end user, 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.
The Amniotic Membranes Market is segmented into North America, Europe, the Asia Pacific, and Rest of the World. In 2019, North America was the largest market, followed by Europe. 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 in this region. 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.
Key Market Players:
The prominent players operating in Amniotic Membranes Market include MiMedx (US), Smith & Nephew (UK), Organogenesis (US), Integra LifeSciences Corporation (US), 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).
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