(PharmaNewsWire.Com, October 15, 2021 ) MarketsandMarkets Research Report's View on Revenue Impact?
The global amniotic products market is projected to reach USD 1.0 billion by 2026 from USD 0.7 billion in 2021, at a CAGR of 8.2% during the forecast period.
Factors Responsible for Growth and In-Depth Analysis?
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.
In contrast, the complications and limitation associated with the use of amniotv membrane may challenge market growth to a certain extent.
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.
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 Membranes 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, the Amniotic Membranes Market is 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.
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