(PharmaNewsWire.Com, January 05, 2022 ) The growth in Amniotic Products 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
According to the new market research report "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", published by MarketsandMarkets™, the global Amniotic Products 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.
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 amniotic membrane segment is expected to grow at the highest CAGR during the forecast period and iodinated contrast media accounted for the largest share in 2020.
Based on type, the amniotic products market is segmented into amniotic membranes and amniotic suspensions. Amniotic membrane account for the largest share of the market. The large share of this segment can be attributed to the increased use in a number of procedures. Moreover, amniotic membranes are more effective than amniotic suspensions.
The amniotic membranes 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 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.
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).
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