Northbrook, IL 60062 -- (SBWIRE) -- 08/08/2023 -- Amniotic Products Market in terms of revenue was estimated to be worth $900 million in 2023 and is poised to reach $1,289 million by 2028, growing at a CAGR of 7.4% from 2023 to 2028 according to a new report by MarketsandMarkets™. 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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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.

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Amniotic Products Market Dynamics:

Drivers:

1. Growth in the target patient population
Opportunities:

1. Emerging economies

Challenges:

1. High cost of amniotic membrane products

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).

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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Amniotic Products Market Advantages:

- Regenerative Potential: Amniotic products contain a rich source of growth factors, cytokines, and extracellular matrix components that promote tissue regeneration and healing. They have the potential to enhance the body's natural healing processes and stimulate the growth of new cells, making them valuable in treating chronic wounds, burns, and other tissue injuries.

- Reduced Risk of Rejection: Amniotic products are derived from the placenta and amniotic fluid, which are immunologically privileged sources. This means that they have a lower risk of triggering an immune response or rejection by the recipient's body compared to other tissue grafts or transplants. This advantage makes amniotic products a viable option for patients who may be at higher risk for complications or rejection.

- Versatile Applications: The versatility of amniotic products is a significant advantage in the medical field. They can be used in various specialties such as ophthalmology, dermatology, orthopedics, and wound care. Whether applied as grafts, injectables, or membranes, these products offer a range of options for healthcare professionals to address different medical conditions effectively.

- Minimally Invasive: Many amniotic products are available in minimally invasive forms, such as injectables or topical applications. This allows for easier administration and reduces the need for complex surgical procedures. Minimally invasive approaches not only minimize patient discomfort but also contribute to faster recovery times and reduced healthcare costs.

- Abundant Supply: The amniotic products market benefits from a readily available supply of placental tissue and amniotic fluid. As a byproduct of cesarean section deliveries, the procurement process is ethical and does not involve additional risks or discomfort for donors. This abundant supply ensures a steady availability of amniotic products for clinical use.

Overall, the advantages of the amniotic products market, including regenerative potential, reduced risk of rejection, versatility in applications, minimally invasive options, and an abundant supply, make them an increasingly attractive option for healthcare providers and patients seeking innovative and effective treatments.