The global amniotic products market size is expected to reach USD 1,527.2 million by 2030 according to a new study by Polaris Market Research. The report “Amniotic Products Market Share, Size, Trends, Industry Analysis Report, By Application (Wound Care, Orthopedics, Ophthalmology, Others); By End-Use (Hospitals & ASCs, Others); By Type; By Region; Segment Forecast, 2022 - 2030” gives a detailed insight into current market dynamics and provides analysis on future market growth.
The major driving factor for the industry growth, such as the growing occurrence of burn injuries, coupled with the rising target patient pool, is spurring the industry demand. In addition, an increasing number of awareness programs for wound care management and treatment by the government is also supporting the industry development. Moreover, growing government funding & investment, escalating venture capital investments, and rising cosmetic, orthopedic, and ophthalmology surgeries are also accelerating the industry growth.
Based on the application, the wound care segment is dominating the global industry and is anticipated to lead the industry over the forecasting period. Factors such as rising cases of trauma, ulcer, and surgical & burn wounds and penetration of the emerging technologies are creating the major demand for amniotic biologics, which may fuel the industry growth. Whereas the ophthalmology segment is showing significant growth in the global industry. The growing utilization of the membrane in reconstructive surgeries and ophthalmic plastic to decrease diagnosis is stimulating the segment demand.
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Growing cases of burn injuries or wounds are majorly contributing to the demand for wound care biologics, which may augment the industry's growth. For instance, the high numbers of burn cases are majorly occurring in low- and middle-income nations, and around two-thirds take place in the Southeast Asian and African regions. Accordingly, as per the WHO, In India, 1 million people suffer from moderate and severe burns annually. Therefore, these factors are more likely to create lucrative growth for the industry in the impending years.
Major participants such as Integra Lifesciences, Lucina Biosciences, Next Biosciences, Applied Biologics, Celularity Inc., Katena Products, Inc., Mimedx, Nuvision Biotherapies Ltd, Organogenesis Inc., Ventris Medical, LLC, Smith & Nephew Plc, Vivex Biologics, Stimlabs LLC, Stryker, Surgenex, Tides Medical, Tissuetech, Inc., and Skye Biologics Holdings, LLC are some of the key players operating in the global industry.
For instance, in June 2021, MIMEDX Group, Inc. announced the company’s successful approval to market its EPIFIX in Japan from the Japanese Ministry of Health, Labour and Welfare (JMHLW). Moreover, In January 2021, Integra LifeSciences, a leading global medical technology company, completed the acquisition of ACell, Inc. This enables them to offer more inclusive complex wound management solutions to address customers.
Polaris Market Research has segmented the amniotic products market report on the basis of type, application, end-use, and region:
Amniotic Products, Type Outlook (Revenue - USD Million, 2018 - 2030)
Amniotic Products, Application Outlook (Revenue - USD Million, 2018 - 2030)
Amniotic Products, End-Use Outlook (Revenue - USD Million, 2018 - 2030)
Amniotic Products, Regional Outlook (Revenue - USD Million, 2018 - 2030)