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(Medical-NewsWire.com, July 22, 2021 ) The Amniotic Products 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.
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 (Hospital, ASCs) - Global Forecast to 2025" published by MarketsandMarkets™, the Amniotic Membranes Market is projected to reach USD 1,095 million by 2025 from USD 748 million in 2020, at a CAGR of 7.9%.
- In 2019, Smith & Nephew acquired Osiris Therapeutics, complementing the company’s advanced wound management unit by offering regenerative medicine products inclusive of skin, bone graft, and articular cartilage substitutes.
- In 2018, the US FDA granted the Regenerative Medicine Advanced Therapy (RMAT) designation to MiMedx’s AmnioFix Injectable for use in the treatment of osteoarthritis (OA) of the knee.
- In 2017, Organogenesis acquired NuTech to support the firm’s development of next-generation amniotic products. The newly-combined company offers a portfolio of advanced next-generation products for the wound care and surgical biologics markets.
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Geographically; 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 amniotic products 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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Amniotic Membranes Market Segmentation in Detailed:
The amniotic membranes segment is expected to grow at the highest CAGR during the forecast period.
On the basis of type, categorized into two segments, amniotic membranes and amniotic suspensions. The amniotic membranes segment accounted for the largest share of the amniotic products market in 2019. It is also projected to record the highest CAGR during the forecast period. Amniotic membranes have anti-inflammatory, anti-angiogenic, anti-fibrotic, and anti-microbial properties. These benefits of amniotic membranes support their adoption. This is a major factor driving market growth.
Hospitals & ASCs are the largest end users of amniotic products.
Based on end user, segmented into hospitals & ASCs and other end users. In 2019, hospitals & ASCs accounted for the largest share of the amniotic products market. 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 are driving the growth of this segment.
Mr. Aashish Mehra