The growth of the Amniotic Products market is majorly driven by rising awareness programs for wound care treatment and management and venture capital investments and government funding. However, competition from alternative therapies may challenge the growth of this market.
The report Amniotic Products Market is projected to reach USD 1,289 million by 2028 from USD 900 million in 2023, at a CAGR of 7.4% during the forecast period.
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Market Segmentation: -
The Europe amniotic products market is segmented into Germany, France, the UK, and the Rest of Europe. UK is projected to occupy the highest share during the forecast period. The major factors contributing to the growth of this market are the high prevalence of diabetes and venous ulcers in the UK, increasing R&D activities, strategic developments by key players, and the growing geriatric population.
Based on the end user, the amniotic products market is segmented into Hospitals, & Ambulatory Surgical Centers, and Other End Users. The Hospitals, & Ambulatory Surgical Centers registered the highest CAGR, increasing hospital admissions due to chronic wounds (such as pressure and diabetic foot & venous leg ulcers) and the rising incidence of hospital-acquired pressure ulcers are key drivers for the growth of this end-user segment.
Regional Analysis:
The APAC amniotic products market is segmented into Japan, China, and Rest of Apac. In 2022, China accounted for the largest share of the Asian amniotic products market. The large share of China can be attributed to the economic growth in the country, rising incidence of diabetes, significantly high cases of road accidents, increasing disposable income of the middle-class population, growth in the geriatric population, and favourable government support.
Recent Developments of Amniotic Products Industry
In 2021, The company VIVEX Biologics (US) launched Cygnus Matrix Disks with the latest configuration of the Cygnus family of amniotic tissue allografts.
In 2021, MiMedx (US) received approval from the Japanese Ministry of Health, Labour, and Welfare for the commercialization of EPIFIX in Japan.
In 2021, The company Celularity Inc. (US) entered into an exclusive distribution agreement for the commercial distribution rights for orthopedic surgery and sports medicine products with Arthrex, Inc. (US).
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Top Key Players:
The significant players in the amniotic products market are mimedx (US), Smith+Nephew (UK), Organogenesis Inc. (US), Integra LifeSciences (US), Stryker (US), APPLIED BIOLOGICS. (US), Celularity Inc. (US), Corza Ophthalmology (US), Lucina BioSciences (US), and Next Biosciences. (South Africa).
Conclusion:
The Amniotic Products Industry is poised for substantial growth, driven by increasing awareness, investments, and the need for innovative solutions in wound care and regenerative medicine. As we move forward, it will be exciting to witness how this industry continues to evolve and contribute to improving patient outcomes worldwide.
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