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(Health-NewsWire.Net, June 09, 2021 ) The research study involved four major activities in estimating the current size of the Amniotic Products Market. Exhaustive secondary research was carried out to collect information on the market, its peer markets, and its parent market. The next step was to validate these findings, assumptions, and sizing estimates with industry experts across the value chain through primary research. Both top-down and bottom-up approaches were employed to estimate the complete market size.
Expected Revenue Surge: 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%.
The Amniotic Membranes 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.
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Market Segmentation in Detailed:
Based on application;
The amniotic products market is categorized into wound care, ophthalmology, orthopedics, and other applications. Wound care was the largest application segment in the 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;
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.
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North America was the largest regional market for amniotic products in 2019.
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 products 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).
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