Platelet-rich Plasma Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022-2027)

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 & Africa, and South America). The report offers the value (in USD million) for the above segments.

Market Snapshot

Platelet-Rich Plasma Market Summary
Study Period: 2019-2027
Base Year: 2021
Fastest Growing Market: Asia Pacific
Largest Market: North America
CAGR: 12.4 %
Platelet-Rich Plasma Market Major Players

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Market Overview

The platelet-rich plasma market is expected to register a CAGR of 12.4% during the forecast period (2022-2027).

The current COVID-19 pandemic further helped expand the market due 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 and not wanting to be further postponed by the adverse effects of steroids.

The key factors that are augmenting the market's growth 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 Surgeons (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.

Platelet-rich plasma (PRP) contains at least seven growth factors. 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 forecast 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 due 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 & Africa, and South America). The market report also covers the estimated market sizes and trends for 17 countries across major regions globally. The report offers the value (in USD million) for the above segments.

By Type
Pure PRP
Leukocyte-rich PRP
Leukocyte-rich Fibrin
Other Types
By Application
Orthopedics
Cosmetic Surgery and Dermatology
Neurology
Cardiology
Ophthalmology
Other Applications
By End User
Hospitals and Clinics
Research Institutes
By Geography
North America
United States
Canada
Mexico
Europe
Germany
United Kingdom
France
Italy
Spain
Rest of Europe
Asia-Pacific
China
Japan
India
Australia
South Korea
Rest of Asia-Pacific
Middle East & Africa
GCC
South Africa
Rest of Middle East & Africa
South America
Brazil
Argentina
Rest of South America

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Key Market Trends

The Orthopedics Segment 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 use of plasma-rich proteins in treating the coronavirus. Various manufacturers operating in the plasma therapy market are investing heavily in R&D and clinical trials in the hope of coming up with an antivirus to fight the coronavirus.

According to the article published in the Lancet Journal in 2020, arthritis is the leading cause of disability among adults. Moreover, knee osteoarthritis has a high prevalence among all osteoarthritis. In 2020, there were approximately 654 million people in the world who had knee OA (age 40 and up). Knee osteoarthritis was found to be prevalent in people aged 20 and up at a rate of 203 per 10,000 person-years.

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 since 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, hence reducing pain sensation. Hence, the factors mentioned above are expected to fuel the growth of the orthopedics segment.

Platelet-Rich Plasma Market - Sports Injuries, By Number of Injuries, United States, 2020

North America Dominates the Market and is Expected to show a Similar Trend over the Forecast Period

The market growth in the United States 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 2020, in the United States, one out of every four adults suffered from arthritis, and an estimated 78 million adults are expected to suffer from the disease by 2040.

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.

Platelet-Rich Plasma Market - Growth Rate by Region

Competitive Landscape

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.

Major Players

  1. EmCyte Corporation

  2. Zimmer Biomet

  3. Johnson & Johnson (DePuy Synthes)

  4. Arthrex Inc.

  5. Terumo BCT Inc.

Platelet-Rich Plasma Market Concentration

Recent Developments

  • In February 2021, Atlas Health Medical Group announced PRP (Platelet-rich Plasma) Microneedling Facelifts for patients.
  • In February 2020, EmCyte completed the acquisition of Cellmedix Holdings LLC, including all the assets of the US-based company, which also included its proprietary product system, namely Centrepid Platelet Concentrator.

Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Assumptions and Market Definition

    2. 1.2 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Market Overview

    2. 4.2 Market Drivers

      1. 4.2.1 Rising Incidences of Sports Injuries

      2. 4.2.2 Increasing Number of Cosmetic and Surgical Procedures

      3. 4.2.3 Growing use of Platelet-rich Plasma in Various Therapeutic Areas

    3. 4.3 Market Restraints

      1. 4.3.1 Stringent Regulatory Policies

      2. 4.3.2 High Prices of Plasma Therapy

    4. 4.4 Industry Attractiveness - Porter's Five Forces Analysis

      1. 4.4.1 Bargaining Power of Buyers/Consumers

      2. 4.4.2 Bargaining Power of Suppliers

      3. 4.4.3 Threat of New Entrants

      4. 4.4.4 Threat of Substitute Products

      5. 4.4.5 Intensity of Competitive Rivalry

  5. 5. MARKET SEGMENTATION (Market Size by Value – USD million)

    1. 5.1 By Type

      1. 5.1.1 Pure PRP

      2. 5.1.2 Leukocyte-rich PRP

      3. 5.1.3 Leukocyte-rich Fibrin

      4. 5.1.4 Other Types

    2. 5.2 By Application

      1. 5.2.1 Orthopedics

      2. 5.2.2 Cosmetic Surgery and Dermatology

      3. 5.2.3 Neurology

      4. 5.2.4 Cardiology

      5. 5.2.5 Ophthalmology

      6. 5.2.6 Other Applications

    3. 5.3 By End User

      1. 5.3.1 Hospitals and Clinics

      2. 5.3.2 Research Institutes

    4. 5.4 By Geography

      1. 5.4.1 North America

        1. 5.4.1.1 United States

        2. 5.4.1.2 Canada

        3. 5.4.1.3 Mexico

      2. 5.4.2 Europe

        1. 5.4.2.1 Germany

        2. 5.4.2.2 United Kingdom

        3. 5.4.2.3 France

        4. 5.4.2.4 Italy

        5. 5.4.2.5 Spain

        6. 5.4.2.6 Rest of Europe

      3. 5.4.3 Asia-Pacific

        1. 5.4.3.1 China

        2. 5.4.3.2 Japan

        3. 5.4.3.3 India

        4. 5.4.3.4 Australia

        5. 5.4.3.5 South Korea

        6. 5.4.3.6 Rest of Asia-Pacific

      4. 5.4.4 Middle East & Africa

        1. 5.4.4.1 GCC

        2. 5.4.4.2 South Africa

        3. 5.4.4.3 Rest of Middle East & Africa

      5. 5.4.5 South America

        1. 5.4.5.1 Brazil

        2. 5.4.5.2 Argentina

        3. 5.4.5.3 Rest of South America

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Company Profiles

      1. 6.1.1 Arthrex Inc.

      2. 6.1.2 Isto Biologics

      3. 6.1.3 Vertical Spine LLC

      4. 6.1.4 DePuy Synthes

      5. 6.1.5 Dr. PRP USA LLC

      6. 6.1.6 EmCyte Corporation

      7. 6.1.7 Glofinn Oy

      8. 6.1.8 T-Biotechnology

      9. 6.1.9 Terumo BCT Inc.

      10. 6.1.10 Zimmer Biomet

      11. 6.1.11 Harvest Technologies Corporation

      12. 6.1.12 ISTO Biologics

    2. *List Not Exhaustive
  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

**Competitive Landscape Covers - Business Overview, Financials, Products and Strategies, and Recent Developments
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Frequently Asked Questions

The Global Platelet Rich Plasma Market market is studied from 2019 - 2027.

The Global Platelet Rich Plasma Market is growing at a CAGR of 12.4% over the next 5 years.

Asia Pacific is growing at the highest CAGR over 2021- 2026.

North America holds highest share in 2021.

EmCyte Corporation, Zimmer Biomet, Johnson & Johnson (DePuy Synthes), Arthrex Inc., Terumo BCT Inc. are the major companies operating in Global Platelet Rich Plasma Market.

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