The MEA amniotic products market is expected to grow from US$ 56.85 million in 2022 to US$ 88.48 million by 2028; it is estimated to grow at a CAGR of 7.7% from 2022 to 2028.
In December 2016, the 21st Century Cures Act was passed with the goal of advancing regenerative medicine research and medical innovation. The Act contains a number of provisions that could impact the development and approval of many products in the coming years. A new "Regenerative Medicine Advanced Therapy" classification and a fast-track approval procedure for innovative regenerative medicine products and therapies have been developed as a result of this Act. The 21st Century Cures Act was created to help speed up medication development and approval processes, allowing for rapid and efficient delivery of new medical advancements to patients. The application of these requirements is expected to improve interoperability and facilitate electronic health information access, exchange, and use. Therefore, the rise in funding allocation to surgery in low and middle-income countries would offer significant opportunities for the amniotic products market during the forecast period.
With the new features and technologies, vendors can attract new customers and expand their footprints in emerging markets. This factor is likely to drive the MEA amniotic products market. The MEA amniotic products market is expected to grow at a good CAGR during the forecast period.
MEA Amniotic Products Market Segmentation
The MEA amniotic products market is bifurcated based on type, application, end user and country. Based on type, the market is segmented into amniotic membranes, and amniotic suspensions. The amniotic membranes segment dominated the market in 2022 and is expected to be fastest growing during forecast period. Based on application, the market is segmented into wound care, orthopedics, ophthalmology, and other applications. The wound care segment dominated the market in 2022 and orthopedics segment is expected to be fastest growing during forecast period. Based on end user, the market is segmented into hospitals and clinics, ambulatory surgical centers, and other end users. The hospitals and clinics segment dominated the market in 2022 and ambulatory surgical centers segment is expected to be fastest growing during forecast period. Based on country, the MEA amniotic products market is segmented into Saudi Arabia, South Africa, the UAE, and Rest of MEA.
Integra LifeSciences; Katena Products. Inc.; MiMedx; Next Biosciences; Organogenesis, Inc.; Sanuwave and Sanuwave Health, Inc.; Smith & Nephew; and Stryker are among the leading companies in the MEA amniotic products market.