(PharmaNewsWire.Com, December 08, 2021 ) The Research Report on "Amniotic Products Market by Type (Amniotic Membranes (Cryopreserved Amniotic Membranes, Dehydrated Amniotic Membranes), Amniotic Suspensions), Application (Wound Care, Ophthalmology, Orthopedics), End User (Hospitals, ASCs) - Global Forecast to 2026", the global Amniotic Membranes Market is projected to USD 1.0 billion by 2026 from USD 0.7 billion in 2021, at a CAGR of 8.2% during the forecast period.
Growth Driver: Rising incidence of burn injuries;
The high incidence of burn wounds has resulted in a significant increase in the demand for wound care biologics, including amniotic membranes. According to the WHO, a majority of burn cases occur in low- and middle-income countries, and almost two-thirds occur in the WHO African and Southeast Asian regions. For instance, in India, 1 million people suffer from moderate and severe burns every year (Source: WHO). The incidence of burns is also high in other Southeast Asian countries such as Bangladesh and Nepal. An estimated 173,000 children suffer from moderate or severe burns in Bangladesh every year. In Nepal, burns are the second-most common injury, accounting for 5% of all disabilities.
The growth in Amniotic Membranes Market can be attributed to the growth in the target patient population, rising incidence of burn injuries, awareness programs for wound care treatment and management, rising venture capital investments and government funding, increasing number of traumatic wounds, growing number of amniotic membrane transplantations, and the increasing number of ophthalmology, cosmetic, and orthopedic surgeries. Emerging economies, implementation of the 21st-century cures act, and increasing demand for stem cell research and regenerative medicine are expected to offer strong growth opportunities for players in the market.
Amniotic membrane segment dominated the Amniotic products market in 2020.
Based on type, segmented into amniotic membranes and amniotic suspensions. Amniotic membrane account for the largest share of the amniotic products market. The large share of this segment can be attributed to its increased use in a number of procedures. Moreover, amniotic membranes are more effective than amniotic suspensions.
The wound care segment to witness the highest CAGR during the forecast period.
Based on application, segmented into wound care, ophthalmology, orthopedics, and other applications. The wound care applications segment commanded the largest share of the amniotic products market. . The large share of this segment can be attributed to the growing incidence of ulcers, traumatic and surgical wounds, and burns and the need for advanced technologies for treatment.
The global amniotic products market is consolidated. The prominent players operating in this market include MiMedx (US), Smith & Nephew (UK), Organogenesis Inc. (US), Integra LifeSciences (US), Stryker (US), Applied Biologics (US), Celularity, Inc. (US), Katena Products, Inc. (US), Lucina Biosciences (US), Skye Biologics Holdings, LLC (US), Surgenex (US), TissueTech, Inc. (US), and Ventris Medical, LLC (US).
MiMedx (US) is the leading player in the amniotic products market in 2020. The company has two distribution channels—direct to customers (healthcare professionals and/or facilities) and sales through distributors. The company has a strong presence in the US and is considering business expansion primarily in Europe and the Asia Pacific.
Smith & Nephew (US) accounted for the high share of the amniotic products market in 2020. The company has a wide geographical presence across the US, Europe, Africa, Asia, Australia, and the Middle East, operating in more than 100 countries. In the past three years, the company reported a continuous increase in revenue and R&D expenditure, which has helped it in developing novel products in the market.
Geographical Analysis in Detailed:
The amniotic products market is segmented into five major regions, namely, North America, Europe, Asia Pacific, Latin America and the Middle East & Africa (MEA). North America was the largest regional market for Amniotic Membranes Market in 2020. North America is expected to hold the largest market share and highest market growth during the forecast period. The large share of the North American market can be attributed to high prevalence of target diseases, increasing geriatric population, rising awareness about advanced treatment options, and the strong presence of key market players in the region.
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