Report : Middle East & Africa 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 7.7% CAGR, the MEA Amniotic Product Market is speculated 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.
- In Jun 2021, MiMedx Group, Inc. announced successful regulatory approval from the Japanese Ministry of Health, Labor and Welfare (JMHLW) known to market EPIFIX in Japan. The geographic expansion will increase revenue and customer bases. This will ensure growth in the further development in the nearby region.
- 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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