The amniotic products market was USD 810.4 million in 2022, and it will advance at an 8.7% compound annual growth rate, to touch USD 1,451.2 million, by 2030.
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The growth of the industry is ascribed to the continuing research to enlarge the application area, utilization of these products for the treatment of eye and skin illnesses, and increasing prevalence of traumatic wounds and injuries because of burns, as well as the rising consciousness about the usage of amniotic products for their treatment.
In 2022, the membranes category, based on type, accounted for the largest share of the industry, of 80%. This is credited to the superior effectiveness of membranes over suspensions. Moreover, the category will advance at an exponential rate because of the increasing utilization of such membranes for various ophthalmic problems.
In 2022, the North American amniotic products industry was the largest contributor, with a 60% share. This is primarily attributed to the existence of well-established healthcare facilities and key industry players. Moreover, the surging focus being given to alternative technologies will further boost the growth of the regional industry.
APAC is likely to witness the fastest growth, with a 9% compound annual growth rate, in the years to come. This can be attributed to the rising disposable income and the economic growth across the nations of the region.
Moreover, several global companies are making notable findings in this area. Large unmet requirements and rising infrastructure of healthcare, mainly in India and Japan, will further boost the growth of the regional industry.
It is because of the increasing prevalence of traumatic wounds and injuries because of burns and the surging treatment for skin and eye disorders, the amniotic products industry will continue to advance in the years to come.
