pune, Maharashtra -- (SBWIRE) -- 12/06/2023 -- Amniotic Products Market by Type (Cryopreserved Amniotic Membranes, Dehydrated Amniotic Membranes), Application (Wound Care, Ophthalmology, Orthopedics), End User (Hospital & Ambulatory Surgical Centers) - Global Forecast to 2028", 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. The growth of this 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 amniotic products industry is poised for significant growth and innovation in the near future. With advancements in medical research and technology, the utilization of amniotic membrane and fluid-based products has expanded beyond traditional applications. These products, derived from the placenta and amniotic fluid, are increasingly recognized for their regenerative and therapeutic properties in wound healing, ophthalmology, orthopedics, and dermatology. In the coming years, we can expect the development of more targeted and specialized amniotic products, tailored to specific medical conditions and patient needs. Moreover, the industry is likely to witness advancements in the manufacturing process, resulting in higher quality and more cost-effective products. As the demand for regenerative medicine continues to grow, the amniotic products industry is poised to play a vital role in revolutionizing healthcare practices and improving patient outcomes.

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Key Market 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).

Amniotic Products Market Dynamics:

Drivers:

- Growth in the target patient population

Opportunities:

- Emerging economies

Challenges:

- High cost of amniotic membrane products

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UK in European amniotic products market to witness the highest shares during the forecast period.

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.

Hospitals, & Ambulatory Surgical Centers in End user' amniotic products market to witness the highest growth rate during the forecast period.

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.

China dominates the Asia Pacific amniotic products market.

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:

- 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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