|Study Period:||2018 - 2026|
|Fastest Growing Market:||Asia Pacific|
|Largest Market:||North America|
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The platelet-rich plasma market is expected to register a CAGR of 12.4% during the forecast period.
The current COVID-19 pandemic further helped expand the market, owing to the lack of antiviral therapies and the fact that plasma therapy comes under an emergency treatment method. One of the benefits of platelet-rich plasma is that it can be used for pain relief during COVID-19. This technique, which has been used to avoid surgery, is also effective in providing short-term pain relief in patients waiting to be cleared for surgical intervention but do not want to be further postponed by the adverse effects of steroids.
The key factors that are augmenting the growth of the market include rising incidences of sports injuries, an increasing number of cosmetic and surgical procedures, and the growing use of platelet-rich plasma in various therapeutic areas. As per the American Society of Plastic Surgeon s (ASPS), approximately 18.1 million cosmetic procedures were performed in 2019 in the United States. It was observed that the number of procedures increased over the last five years, and the preference of people for minimally invasive cosmetic surgery across the United States has increased. Procedures like liposuction and facelifts are growing in popularity.
PRP contains at least seven growth factors, and it can be used for various treatments, such as chronic tendon injuries, acute ligament and muscle injuries, surgery, knee arthritis, fractures, and pain. In orthopedics, the use of PRP is expected to increase over the period. PRP is increasingly being used in the treatment of acute sports injuries, such as muscle injuries. The popularity of PRP is on the rise, but its true effectiveness is yet to be fully established. Thus, the PRP is widely used in surgery to repair torn knee ligaments, such as the anterior cruciate ligament (ACL). The PRP facilitates the fast healing of the tissue after surgical procedures.
Several research studies are currently being conducted to evaluate the effectiveness of PRP in other treatment areas, such as in the case of herniated disc and hair loss. The use of PRP has grown widely in different therapeutic areas, owing to the increasing availability and ability to enable faster healing. Additionally, this treatment can reduce the economic costs of standard medical procedures, although it cannot replace certain important conventional therapies.
Scope of the Report
As per the scope of the report, platelet-rich plasma is defined as autologous blood with concentrations of platelets above baseline levels (which contains at least seven growth factors). Platelet-rich plasma therapy employs injections of the patient's concentrated platelets to accelerate the healing of injured tendons, ligaments, muscles, and joints. The platelet-rich plasma market is segmented by type (pure PRP, leukocyte-rich PRP, leukocyte-rich fibrin, and other types), application (orthopedics, cosmetic surgery and dermatology, neurology, cardiology, ophthalmology, and other applications), end user (hospitals and clinics and research institutes), and geography (North America, Europe, Asia Pacific, Middle-East and Africa, and South America). The report offers the value (in USD million) for the above segments.
|Cosmetic Surgery and Dermatology|
|By End User|
|Hospitals and Clinics|
Key Market Trends
The Orthopedics Segment by Application is Expected to Hold the Largest Market Share
The US Food and Drug Administration witnessed a tremendous rise in the number of clinical trials in the past few months regarding the plasma-rich proteins in treating the coronavirus. Various manufacturers operating in the plasma therapy market are investing heavily in R&D, clinical trials in the hope of coming up with an antivirus to fight COVID-19.
According to the US Arthritis Foundation, arthritis is the leading cause of disability among adults in the country. By conservative estimates, about 54 million adults were diagnosed with arthritis, and almost 300,000 children were suffering from arthritis or rheumatic condition during 2017-2018.
Despite not being considered the standard practice, a growing number of people are opting for PRP injections to treat an expanding list of orthopedic conditions, including osteoarthritis. It is most commonly used for knee osteoarthritis but may be used on other joints as well. While treating osteoarthritis with platelet-rich plasma, a doctor injects PRP directly into the affected joint to reduce pain, improve joint function, and slow, halt, or even repair damage to the cartilage. In such cases, platelet-rich plasma is derived from a sample of the patient's blood.
Thus, platelet-rich plasma therapy is witnessing a significant rise in its popularity and acceptance for treating arthritis, owing to the fact that it inhibits inflammation, reduces the rate of progression of osteoarthritis, stimulates the formation of new cartilage, and increases the production of natural lubricating joint fluid, in turn, easing painful joint friction. Moreover, it contains proteins that alter a patient's pain receptors and reduces pain sensation. Hence, the factors mentioned above are expected to fuel the growth of the arthritis segment.
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North America Dominates the Market and is Expected to Depict Similar Trend Over the Forecast Period
The market growth in the country can be attributed to several factors, including the rise in the prevalence of several disorders, such as arthritis, well-established healthcare infrastructure, better regulatory framework, and government support. As per a survey conducted by the Centers for Disease Control and Prevention (CDC), in the United States, in 2018, about 54.4 million adults (22.7%) were diagnosed with common arthritis, rheumatoid arthritis, and gout.
Moreover, in the region, due to the growing aging population, the prevalence of doctor-diagnosed arthritis is expected to rise significantly over the forecast period. Osteoarthritis is the most prevalent type of arthritis, and it affects about 31 million Americans every year.
PRP is also one of the techniques that are very commonly used in cosmetic procedures. Platelet-rich plasma treatment is the latest anti-aging procedure for enhancing facial shape and adding volume. Hence, all these factors mentioned above are expected to contribute to the growth of the platelet-rich plasma market in the region.
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The market is moderately competitive with few key players. Some key market players include Arthrex Inc., Cambryn Biologics LLC, China Biologic Products Inc., DePuy Synthes, Dr. PRP USA LLC, EmCyte Corporation, Glofinn Oy, T-Biotechnology, Terumo BCT Inc., and Zimmer Biomet. With the advancement in technology, new players are expected to enter the market.
- In February 2021, Atlas Health Medical Group announced PRP availability (Platelet Rich Plasma) Microneedling Facelifts to patients.
- In February 2020, EmCyte completed the acquisition of Cellmedix Holdings LLC, including all the assets of the U.S.-based company, which also included its proprietary product system, namely Centrepid Platelet Concentrator.
Table of Contents
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Rising Incidences of Sports Injuries
4.2.2 Increasing Number of Cosmetic and Surgical Procedures
4.2.3 Growing Use of Platelet-rich Plasma in Various Therapeutic Areas
4.3 Market Restraints
4.3.1 Stringent Regulatory Policies
4.3.2 High Prices of Plasma Therapy
4.4 Industry Attractiveness - Porter's Five Forces Analysis
4.4.1 Bargaining Power of Buyers/Consumers
4.4.2 Bargaining Power of Suppliers
4.4.3 Threat of New Entrants
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1 By Type
5.1.1 Pure PRP
5.1.2 Leukocyte-rich PRP
5.1.3 Leukocyte-rich Fibrin
5.1.4 Other Types
5.2 By Application
5.2.2 Cosmetic Surgery and Dermatology
5.2.6 Other Applications
5.3 By End User
5.3.1 Hospitals and Clinics
5.3.2 Research Institutes
5.4 By Geography
5.4.1 North America
220.127.116.11 United States
18.104.22.168 United Kingdom
22.214.171.124 Rest of Europe
5.4.3 Asia Pacific
126.96.36.199 South Korea
188.8.131.52 Rest of Asia Pacific
5.4.4 Middle-East and Africa
184.108.40.206 South Africa
220.127.116.11 Rest of Middle-East and Africa
5.4.5 South America
18.104.22.168 Rest of South America
6. COMPETITIVE LANDSCAPE
*List Not Exhaustive
6.1 Company Profiles
6.1.1 Arthrex Inc.
6.1.2 Isto Biologics
6.1.3 Vertical Spine LLC
6.1.4 DePuy Synthes
6.1.5 Dr. PRP USA LLC
6.1.6 EmCyte Corporation
6.1.7 Glofinn Oy
6.1.9 Terumo BCT Inc.
6.1.10 Zimmer Biomet
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
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Frequently Asked Questions
What is the study period of this market?
The Global Platelet Rich Plasma Market market is studied from 2018 - 2026.
What is the growth rate of Global Platelet Rich Plasma Market?
The Global Platelet Rich Plasma Market is growing at a CAGR of 12.4% over the next 5 years.
Which region has highest growth rate in Global Platelet Rich Plasma Market?
Asia Pacific is growing at the highest CAGR over 2021- 2026.
Which region has largest share in Global Platelet Rich Plasma Market?
North America holds highest share in 2020.
Who are the key players in Global Platelet Rich Plasma Market?
EmCyte Corporation, Zimmer Biomet, Johnson & Johnson (DePuy Synthes), Arthrex Inc., Terumo BCT Inc. are the major companies operating in Global Platelet Rich Plasma Market.