(PharmaNewsWire.Com, February 18, 2021 ) Major Growth Boosting Factors: 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.
Revenue Growth Opportunities: 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%
Amniotic Membranes Market Recent Developments:
# In 2019, Smith & Nephew acquired Osiris Therapeutics, complementing the company’s advanced wound management unit by offering regenerative medicine products inclusive of skin, bone graft, and articular cartilage substitutes.
# In 2018, the US FDA granted the Regenerative Medicine Advanced Therapy (RMAT) designation to MiMedx’s AmnioFix Injectable for use in the treatment of osteoarthritis (OA) of the knee.
# In 2017, Organogenesis acquired NuTech to support the firm’s development of next-generation amniotic products. The newly-combined company offers a portfolio of advanced next-generation products for the wound care and surgical biologics markets.
The Amniotic Membranes Market is categorized into wound care, ophthalmology, orthopedics, and other applications. Wound care was the largest application segment in the amniotic products market in 2019 and is expected to grow at the highest CAGR during the forecast period. Growth in this market is largely driven by the rising prevalence of diabetic foot ulcers, venous leg ulcers, surgical & traumatic wounds, and burn injuries.
On the basis of end user, |
The Amniotic Membranes Market is segmented into hospitals & ASCs and other end users. In 2019, hospitals & ASCs accounted for the largest share of the amniotic products market and are expected to register the highest CAGR. Growth in this segment can primarily be attributed to 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.
The amniotic products 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.
Global Leaders: The prominent players operating in this 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).
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.
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