Amniotic Products Market is expected to reach US$ 1,889.07 Million by 2028

Amniotic Membrane Segment to Dominate Amniotic Products Market

According to The Insight Partners research study, titled "Amniotic Products Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Type, Application, and End User," the market is expected to grow from US$ 1,164.32 million in 2022 to US$ 1,889.07 million by 2028. It is estimated to grow at a CAGR of 8.4% from 2022 to 2028. The rising incidence of burn injuries and the increasing number of traumatic wounds drive the market growth. However, complications and limitations associated with the use of amniotic membranes are expected to restrict the market growth during the forecast period.

Europe experienced more severe repercussions of the COVID-19 pandemic in 2020 than the global economy. Furthermore, it experienced a slower pace of recovery in 2021. The pandemic caused an unprecedented health crisis in European economies. At the end of July 2020, the Federal Statistical Office of Germany reported a drop of 10.1% in the gross domestic product (GDP) during the second quarter of the year. However, the governments of several countries in Europe took necessary measures to support all the components of the economy by offering grants and extending the terms for work subsidies. In April 2020, the GDP of the UK decreased by 25%. In addition, disrupted supply chains, extended lockdowns, and canceling of other medical procedures have also negativity affected the growth of the amniotic products market. The hospitals in the region were canceling other surgical procedures to keep healthcare facilities free for COVID-19 patients. Moreover, increasing COVID-19 infection in healthcare workers was leading to a shortage of staff. As per the European Union April 2020 report, in several EU countries, between 9% and 26% of all diagnosed COVID-19 cases are in healthcare workers. These factors were negatively impacting the growth of the amniotic products market.

Based on type, the amniotic products market has been bifurcated into amniotic membranes and amniotic suspensions. The amniotic membranes segment is likely to hold the largest share of the market in 2022. Moreover, the same segment is anticipated to register the highest CAGR in the market during the forecast period. The amniotic membrane, which is the innermost layer of the placenta and is frequently employed in ophthalmology and wound healing, comprises a mixture of tissues and cells. Human amniotic membranes have been effectively employed in various surgical procedures for over 70 years. The membranes are widely used in the treatment and management of surgical wounds and incisions, owing to properties such as their ability to maintain a watertight seal, inhibit inflammatory responses, and prevent disease transmissions. Hence, these factors are driving the segment growth.

Traumatic wounds have a variety of causes, all of which place a strain on the healthcare system. Diabetic and obese patients are at a higher risk of getting chronic wounds. Most persons with long-term open wounds also have serious health problems. Comorbidity refers to the existence of multiple chronic diseases at the same time. Comorbidities complicate chronic wounds, making it difficult to follow chronic wounds as a disease in and of itself.

Compared to the overall burden of chronic wounds as a health care concern, research funding dedicated to studying chronic wounds is disproportionately low. Wound healing using amniotic membrane grafts has some therapeutic potential. Early use of an amniotic membrane for ulcers, burns, and cutaneous injuries proved therapeutic. Therefore, an increasing number of traumatic wounds is boosting the amniotic product market.

Mimedx; Smith & Nephew; Integra Lifesciences; Stryker; Organogenesis, Inc.; Katena Products, Inc.; Nuvision Biotherapies Ltd, Lucina Biosciences; and Next Biosciences are the key companies operating in the amniotic products market.

Amniotic Products Market, by Geography, 2022 (%)

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Amniotic Products Market - Research Report 2022-2028

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Amniotic Products Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Type (Amniotic Membranes [Cryopreserved Amniotic Membranes and Dehydrated Amniotic Membranes] and Amniotic Suspensions), Application (Wound Care, Orthopedics, Ophthalmology, and Other Applications), End User (Hospitals & Clinics, Ambulatory Surgical Centers, and Other End Users), and Geography

The report segments the amniotic products market as follows:

The amniotic products market is analyzed on the basis of type, application, end user, and geography. Based on type, the market is segmented into amniotic membranes and amniotic suspensions. Based on application, the market is segmented into wound care, orthopedics, ophthalmology, and other applications. Based on end user, the market is segmented into hospitals and clinics, ambulatory surgical centers, and other end users.

By geography, the amniotic products market is segmented into North America (the US, Canada, and Mexico), Europe (the UK, Germany, France, Italy, Spain, and the Rest of Europe), Asia Pacific (China, Japan, India, Australia, South Korea, and the Rest of Asia Pacific), the Middle East & Africa (the UAE, Saudi Arabia, Africa, and the Rest of the Middle East & Africa), and South & Central America (Brazil, Argentina, and the Rest of South & Central America).