Report : North America 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 8.5% CAGR, the North America Amniotic Product Market is speculated to be worth US$ 646.44 million by 2028, says Business Market Insights
According to Business Market Insights’ research, the North America amniotic product market was valued at US$ 421.96 million in 2022 and is expected to reach US$ 689.98 million by 2028, registering an annual growth rate of 8.5% from 2022 to 2028. Rising incidence of burn injuries and increasing number of traumatic wounds are the critical factors attributed to the market expansion.
Due to the high prevalence of burn wounds, demand for wound care biologics, such as amniotic membranes, has increased significantly. In 2019, a total of 8,378,122 new cases of burns were identified (95% UI, 10,363,109–6,531,887 cases). Burn fatality rates have been declining in many high-income nations, but child burn deaths are now approximately 7 times greater in low- and middle-income countries than in high-income countries. From 1990 to 2019, the burden of burns declined progressively and was thought to be reduced in most regions. Moreover, according to the Children's Burn Trust and the British Burn Association, 625 children are admitted to an NHS Burns Service each month due to burn or scald injuries. In 2017, the NHS's burns and scalds services treated more than 15,000 patients with these injuries, with a total cost of more than US$ 24.94 million (i.e., GBP 20 million). More than 40 of the total burn treatment admissions in 2017 were classified as extremely serious, with treatment procedures costing more than US$ 118,455.50 (GBP 95,000) per person. Biologic materials are now used in various surgical procedures thanks to recent tissue harvesting, screening, and banking advancements. Burns, nerve regeneration, soft tissue reconstructive surgeries, ophthalmic surgeries, and diabetic foot ulcer surgeries are just a few of the applications for amniotic membranes. Amniotic membrane has been demonstrated to improve healing rates, reduce infection rates, shorten hospital stays, and reduce the number of dressing changes required in burn patients. Therefore, it has a lot of scopes to improve outcomes and save money. The amniotic membrane is helpful in chronic wounds, such as diabetic foot ulcers, and it holds tremendous potential for the treatment of donor skin graft sites, wounds treated with skin grafts, and partial thickness burns. Thus, increasing burn cases are driving the amniotic product market.
On the contrary, complications and limitations associated with the use of amniotic membranes secret hurdles the growth of North America amniotic product market.
Based on type, the North America amniotic product market is segmented into amniotic membranes and amniotic suspensions. The amniotic membranes segment held 84.9% market share in 2022, amassing US$ 358.43 million. It is projected to garner US$ 603.01 million by 2028 to expand at 9.1% CAGR during 2022–2028.
Based on application, the North America amniotic product market is segmented into wound care, orthopedics, ophthalmology, and other applications. The periodontics segment held 39.1% market share in 2022, amassing US$ 164.99 million. It is projected to garner US$ 265.33 million by 2028 to expand at 8.2% CAGR during 2022–2028.
Based on end user, the North America 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$ 208.02 million. It is projected to garner US$ 343.31 million by 2028 to expand at 8.7% CAGR during 2022–2028.
Based on country, the North America amniotic product market is segmented into the US, Canada, and Mexico. Our regional analysis states that the US captured 79.8% market share in 2022. It was assessed at US$ 336.64 million in 2022 and is likely to hit US$ 554.70 million by 2028, exhibiting a CAGR of 5.7% during the forecast period.
Key players dominating the North America amniotic product market are Integra LifeSciences; Katena Products. Inc.; Lucina BioSciences; 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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