(PharmaNewsWire.Com, May 01, 2021 ) The 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“ the global Amniotic Membranes Market is projected to reach USD 1,095 million by 2025 from USD 748 million in 2020, at a CAGR of 7.9%.
What Drives the Market Growth?
The 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.
Based on application, 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, is segmented into hospitals & ASCs and other end users. In 2019, hospitals & ASCs accounted for the largest share of the Amniotic Membranes 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.
Geographical View in-detailed:
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 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 Amniotic Membranes 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).
Organogenesis (US) is another leading player in the amniotic products market owing to its strong brand recognition and comprehensive suite of amniotic products such as NuCel, NuShield, ReNu, and Affinity. The company has a robust brand presence, serving more than 4,000 healthcare facilities, inclusive of hospital systems, IDNs, and GPOs. The company sells its products to various end users, including hospitals, wound care centers, government facilities, ASCs, and physicians’ offices.
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