The market for platelet rich plasma is anticipated to grow at a CAGR of around 12.1% from 2020 to 2027 and expected to reach the market value of around US$ 983.8 Mn by 2027.
Platelet Rich Plasma (PRP) is a substance that promotes healing when injected with the help of cell regeneration. It’s a component of blood that contains special factors or proteins that help blood clotting. Moreover, PRP also contains proteins that support cell growth and prepared by isolating plasma from blood and concentrating it. The injection of PRP into damaged tissues stimulates the body to grow new healthy cells and promotes healing. These have applications across hair loss, tendon injuries, acute injuries, postsurgical repair, and osteoarthritis.
The rising incidence of orthopedic disorders and sports injuries is driving the market growth. The increasing number of cosmetic surgery procedures simultaneously extending medical applications of platelet rich plasma is propelling the market growth. The increasing number of evidence-based studies for PRP-based wound healing is further bolstering the market value. Furthermore, increasing breadth and use of PRP therapy across Medicare beneficiaries is expected to provide potential opportunities over the forecast period from 2020 to 2027.
On the other side, high costs associated with PRP products is likely to hinder the growth over the forecast period from 2020 to 2027
Segment Instance of Global Platelet Rich Plasma Market
Pure Platelet-rich Plasma segment is leading the market with maximum revenue share
On the basis of type, pure platelet-rich plasma (PRP) has a potential share in terms of value in the global market. The pure PRP contains highly concentrated platelet growth factors with reduced red blood cells. Some of the advantages associated with the pure PRP include accelerated healing process, tissue repair and generation, and improvement in overall function that are factors projected to create demand over the forecast period from 2020 to 2027.
North America accounted for the maximum revenue share in the global market
In 2019, North America held the major share owing to the presence of high income population and advance healthcare infrastructure. The major economies of the region including US and Canada are the major revenue contributors in the regional platelet rich plasma market. The increasing awareness about platelet-rich plasma treatments, the rising number of cosmetics surgeries, and the active involvement of academic and research institutes for evaluating the application of platelet-rich plasma therapies are boosting the regional market value. The increasing risk of sports injuries among young athletes is additionally expected to support growth over the forecast timeframe from 2020 to 2027. According to the U.S. Centers for Disease Control (CDC), the participation of individuals in sports in the U.S. is continuously rising and around 30 million children and adolescents of the U.S. participate in sports.
Asia Pacific is projected to exhibit fastest growth over the forecast period from 2020 to 2027
Asia Pacific is anticipated to experience the fastest growth with major CAGR (%) during the estimated period from 2020 to 2027. The rapidly developing economies of the region including China and India are the major revenue contributors in the regional market. The increasing investment on research and development (R&D) activities in order to provide more advance and effective solutions to the end-users is further projected to exhibit growth over the estimated period from 2020 to 2027.
Key Players Profiled
The players profiled in the report include APEX Biologix, Arthrex, Inc., Celling BioSciences, Dr. PRP America, LLC, EmCyte Corporation, Glofinn Oy, Johnson & Johnson (DePuy Synthes), Juventix, Stryker, T-Biotechnology (T-LAB), Terumo BCT, Inc., and Zimmer Biomet.
Market By Type
Pure Platelet-rich Plasma
Leukocyte Platelet-rich Plasma
Pure Platelet-rich Fibrin
Leukocyte Platelet-rich Fibrin
Market By Origin
Autologous Platelet-rich Plasma
Allogeneic Platelet-rich Plasma
Homologous Platelet-rich Plasma
Market By Application
Market By End-User
Clinics (Orthopedic Clinics, Ophthalmic Clinics, Cosmetic/Dermatology/Trichology Clinics)
Physician's Office/Private Practice
Academic & Research Institutes
Market By Geography
• Rest of Europe
• South Korea
• Rest of Asia-Pacific
• Rest of Latin America
Middle East & Africa
• South Africa
• Rest of Middle East & Africa
The market for platelet rich plasma is expected to reach a market value of around US$ 983.8 Mn by 2027.
The platelet rich plasma market is expected to grow at a CAGR of around 12.1% from 2020 to 2027.
Pure platelet-rich plasma is the leading segment by type in the platelet rich plasma market
The rising incidence of orthopedic disorders and sports injuries, increasing number of cosmetic surgery procedures, extending medical origin of platelet rich plasma, and increasing number of evidence-based studies for PRP-based wound healing are some of the factors driving the market growth.
APEX Biologix, Arthrex, Inc., Celling BioSciences, Dr. PRP America, LLC, EmCyte Corporation, Glofinn Oy, Johnson & Johnson (DePuy Synthes), Juventix, Stryker, T-Biotechnology (T-LAB), Terumo BCT, Inc., and Zimmer Biomet are the prominent players in the market.
North America held the highest market share in the platelet rich plasma market
Asia Pacific is expected to be the fastest growing market over the forecast period