Report : Europe Amniotic Products Market Forecast to 2028 – COVID-19 Impact and Regional Analysis – by Type [Amniotic Membranes (Cryopreserved Amniotic Membranes and Dehydrated Amniotic Membranes) and Amniotic Suspensions], Application (Wound Care, Orthopedics, Ophthalmology, and Other Applications), and End User (Hospitals & Clinics, Ambulatory Surgical Centers, and Other End Users)
At 8.2% CAGR, the Europe Amniotic Product Market is speculated to be worth US$ 582.01 million by 2028, says Business Market Insights
According to Business Market Insights’ research, the Europe amniotic product market was valued at US$ 362.61 million in 2022 and is expected to reach US$ 582.01 million by 2028, registering an annual growth rate of 8.2% from 2022 to 2028. Increasing number of traumatic wounds and rising incidence of burn injuries are the critical factors attributed to the market expansion.
According to a 2018 retrospective examination of Medicare users, 8.2 million persons suffered wounds that were infected or not. The cost of acute and chronic wound treatments was estimated to cost between US$ 28.1 billion and US$ 96.8 billion by Medicare. Surgical wounds were the most expensive, followed by diabetic foot ulcers, with outpatient wound care costs higher than inpatient wound care. Traumatic wounds are a significant clinical, social, and economic burden because of the rising healthcare expenditures, an aging population, identification of difficult-to-treat infection risks such as biofilms, and the global hazard of diabetes and obesity. Traumatic wounds are those that have not proceeded through the normal healing process and have been open for longer than a month. 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 who have a long-term open wound also have additional 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. In comparison 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.
On the contrary, complications and limitations associated with the use of amniotic membranes secret hurdles the growth of Europe amniotic product market.
Based on type, the Europe amniotic product market is segmented into amniotic membranes and amniotic suspensions. The amniotic membranes segment held 83.9% market share in 2022, amassing US$ 304.25 million. It is projected to garner US$ 502.40 million by 2028 to expand at 8.7% CAGR during 2022–2028.
Based on application, the Europe amniotic product market is segmented into wound care, orthopedics, ophthalmology, and other applications. The periodontics segment held 39.4% market share in 2022, amassing US$ 143.00 million. It is projected to garner US$ 225.79 million by 2028 to expand at 8.2% CAGR during 2022–2028.
Based on end user, the Europe amniotic product market is segmented into hospitals and clinics, ambulatory surgical centers, and other end users. The hospitals and clinics segment held 49.5% market share in 2022, amassing US$ 179.52 million. It is projected to garner US$ 290.80 million by 2028 to expand at 8.4% CAGR during 2022–2028.
Based on country, the Europe amniotic product market is segmented into the UK, Germany, France, Italy, Spain, and Rest of Europe. Our regional analysis states that Germany captured 28.6% market share in 2022. It was assessed at US$ 103.65 million in 2022 and is likely to hit US$ 168.11 million by 2028, exhibiting a CAGR of 8.4% during the forecast period.
Key players dominating the Europe amniotic product market are Integra LifeSciences; Katena Products. Inc.; MiMedx; NuVision Biotherapies Ltd; Organogenesis, Inc.; Sanuwave and Sanuwave Health, Inc.; Smith & Nephew; and Stryker among others.
- In Feb 2021, Stryker completed the acquisition of Wright Medical, Inc. a global medical device company focused on extremities and biologics. This acquisition strengthens global market position in trauma and extremities, providing significant opportunities to drive innovation and reach more patients.
- In Jan 2020, Integra LifeSciences Holdings Corporation entered into a definitive agreement to acquire ACell, Inc. (ACell) for a $300 million cash upfront payment at closing subject to customary purchase price adjustments and cash payments of up to an additional $100 million upon achievement of certain revenue growth milestones. ACell is an innovative regenerative medicine company with a product portfolio based on MatriStem UBM, a proprietary porcine bladder matrix platform technology. The transaction is expected to close in the first quarter of 2021, subject to the satisfaction of customary conditions, including regulatory approvals. The acquisition of ACell is the next step in expanding Integras' Orthopedics and Tissue Technologies (OTT) segment. Following the completion of the previously announced sale of Integras' orthopedic business, which is expected to occur in early January, OTT will be referred to as the Tissue Technologies segment.
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