Amniotic Products Market: $900M to $1,289M Growth Forecast (2023-2028) | MarketsandMarkets™
Chicago, Aug. 16, 2024 (GLOBE NEWSWIRE) -- The "Amniotic Products Market Size, Share & Trends by Type (Cryopreserved Amniotic Membranes, Dehydrated Amniotic Membranes), Application (Wound Care, Ophthalmology, Orthopedics), End User (Hospital & Ambulatory Surgical Centers) & Region - Global Forecast to 2028”, report highlights substantial growth projections. It anticipates the market to escalate from $900 million in 2023 to $1,289 million by 2028, at a notable CAGR of 7.4%. The amniotic products market is primarily driven by increased outsourcing of bio-decontamination services, a growing healthcare sector, and rising outsourcing in emerging economies. However, variability in pathogen resistance poses a threat to market growth. The global recession could impact the market through reduced healthcare budgets, increased price sensitivity, and delayed elective procedures. The market dynamics include growing demand due to chronic conditions like diabetes and obesity, which drive the need for advanced wound care products. Emerging economies, particularly in Asia, present significant growth opportunities due to improving healthcare infrastructure and rising demand. Conversely, the high cost of amniotic products—driven by complex manufacturing, donor screening, storage, and regulatory compliance—poses a challenge. The US led the North American market, while Japan experienced the highest growth rate in Asia Pacific. In Europe, the UK is expected to grow significantly. Major players include Mimedx, Organogenesis, Smith+Nephew, and Integra LifeSciences, with Mimedx holding the leading market position.
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Mimedx (US): Leader in Amniotic Products
Mimedx, headquartered in the US, is a prominent player in the amniotic products market, holding a 30-33% share in 2022. The company's extensive portfolio includes over 1.8 million placental tissue-based allografts used across wound care, burn treatment, surgical, orthopedic, spine, sports medicine, ophthalmic, and dental applications. Mimedx employs two main distribution channels: direct sales to healthcare professionals and facilities, and through distributors. The company is also focused on inorganic growth; for instance, it received regulatory approval for EPIFIX in Japan in 2021 and secured reimbursement approval in 2022. Additionally, Mimedx has partnered with Gunze Medical Limited to distribute EPIFIX in Japan, with sales expected to start in 2023.
Smith+Nephew (UK): Advanced Wound Management Specialist
Smith+Nephew, based in the UK, ranks second in the amniotic products market with a 19-22% share in 2022. Known for its strong presence in advanced wound management, the company has developed a robust portfolio and geographic reach. It invests heavily in expanding its product offerings and enhancing its brand, supported by a wide supplier network. To keep medical professionals informed, Smith+Nephew is launching Education Unlimited, an online platform for updates on innovations. The company also introduced the WOUND COMPASS Clinical Support App, a digital tool to aid wound assessment and decision-making, thus reducing practice variation.
Organogenesis Inc. (US): Comprehensive Amniotic Product Provider
Organogenesis, located in the US, holds the third position in the amniotic products market with a 14-17% share in 2022. The company is well-regarded for its strong brand and comprehensive range of amniotic products, including NuShield and Affinity. It serves over 4,000 healthcare facilities and has a solid pipeline targeting advanced wound care, surgical, and sports medicine markets.
Integra LifeSciences (US): Expanding Amniotic Products Innovator
Integra LifeSciences, also based in the US, is the fourth-largest player in the amniotic products market with a 7-9% share in 2022. The company’s success is driven by its broad product portfolio and strong brand recognition. Integra invests in both new product development and clinical studies to support product launches and improve reimbursement. Recent acquisitions, such as A Cell, Inc. in 2021 and Innovation Associates, Inc. in 2022, highlight its strategy to enhance market growth and profitability in the amniotic products sector.
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Type Segment Insights
In the Amniotic Products market, the Cryopreserved Amniotic Membrane segment is poised for the highest growth rate during the forecast period. This growth is attributed to its superior preservation qualities and effectiveness in various medical applications, contributing to its increasing adoption.
Application Segment Insights
Among the applications of amniotic products, Wound Care is anticipated to lead the market during the forecast period. This dominance is driven by the rising incidence of abscesses, distressing injuries, surgical wounds, and burns, coupled with the demand for advanced treatment technologies. The extended therapeutic process associated with these conditions further propels the growth of the wound care segment.
End-User Segment Insights
The Hospitals and Ambulatory Surgical Centers segment is expected to dominate the amniotic products market in the forecast period. This is due to the growing number of surgical procedures and the specialized care required for patients with traumatic, surgical, infected, or chronic wounds. Additionally, the cost-effective and convenient treatments offered by ambulatory surgical centers contribute to this segment’s prominence.
Regional Market Overview
The Amniotic Products market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. North America led the market in 2022, driven by the high prevalence of relevant diseases, an aging population, and increased awareness of advanced treatment options. The region's significant growth is supported by the presence of major market players, a well-established healthcare system, and ongoing investments by hospitals to enhance and expand their capabilities.
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