
Published On: Sep 2022
Published On: Sep 2022
At 7.7% CAGR, the MEA Amniotic Product Market is projected to be worth US$ 88.48 million by 2028, says Business Market Insights
According to Business Market Insights’ research, the MEA amniotic product market was valued at US$ 56.85 million in 2022 and is expected to reach US$ 88.48 million by 2028, registering an annual growth rate of 7.7% from 2022 to 2028. Increasing demand for stem cell research and regenerative medicine and implementation of the 21st century cures act are the critical factors attributed to the market expansion.
The most current and rising discipline of medical science, regenerative medicine, is concerned with the functional regeneration of tissues or organs in patients suffering from catastrophic injuries or chronic diseases. The phenomenal breakthrough in stem cell research has provided the groundwork for cell-based therapeutics for resistant diseases to traditional treatments. Stem cells are the boundaries of regenerative medicine because of their unlimited self-renewal and ability to differentiate into numerous types of cells. The ability of stem cells to transdifferentiate differs depending on the source, and regenerative uses vary accordingly. Ex vivo remodeling of stem cells grown into 3D organoids and tissue architectures for tailored applications has been endorsed by advances in gene editing and tissue engineering technology. In recent years, stem cell therapy has become a very promising and advanced scientific study area. The advancement of medical procedures has sparked high expectations. Due to its excellent trapping capabilities, it can also be used as a nano-reservoir for drug administration. In the clinic, the Amnio-M has evolved from a simple sheet for topical applications for skin and corneal repair to more advanced forms, such as micronized dehydrated membrane, amniotic cytokine extract, and solubilized powder injections to regenerate muscles, cartilage, and tendons, over the last century. Thus, the increasing demand for amniotic membranes in stem cell research and regenerative medicine is anticipated to boost the demand for amniotic products, resulting in market growth during the forecast period.
On the contrary, complications and limitations associated with the use of amniotic membranes secret hurdles the growth of MEA amniotic product market.
Based on type, the MEA amniotic product market is segmented into amniotic membranes and amniotic suspensions. The amniotic membranes segment held 83.9% market share in 2022, amassing US$ 47.72 million. It is projected to garner US$ 76.40 million by 2028 to expand at 8.2% CAGR during 2022–2028.
Based on application, the MEA amniotic product market is segmented into wound care, orthopedics, ophthalmology, and other applications. The periodontics segment held 39.7% market share in 2022, amassing US$ 22.55 million. It is projected to garner US$ 34.52 million by 2028 to expand at 8.2% CAGR during 2022–2028.
Based on end user, the MEA amniotic product market is segmented into hospitals and clinics, ambulatory surgical centers, and other end users. The hospitals and clinics segment held 49.3% market share in 2022, amassing US$ 28.03 million. It is projected to garner US$ 44.02 million by 2028 to expand at 8.2% CAGR during 2022–2028.
Based on country, the MEA amniotic product market is segmented into Saudi Arabia, South Africa, UAE, and Rest of MEA. Our regional analysis states that Saudi Arabia 37.6% market share in 2022. It was assessed at US$ 21.39 million in 2022 and is likely to hit US$ 34.24 million by 2028, exhibiting a CAGR of 8.2% during the forecast period.
Key players dominating the MEA amniotic product market are Integra LifeSciences; Katena Products. Inc.; MiMedx; Next Biosciences; Organogenesis, Inc.; Sanuwave and Sanuwave Health, Inc.; Smith & Nephew; and Stryker among others.
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