Market Size of Global Platelet Rich Plasma Industry
| Study Period | 2019 - 2029 |
| Market Size (2024) | USD 410.75 Million |
| Market Size (2029) | USD 632.86 Million |
| CAGR (2024 - 2029) | 9.03 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Platelet-Rich Plasma (PRP) Market Analysis
The Global Platelet Rich Plasma Market size is estimated at USD 410.75 million in 2024, and is expected to reach USD 632.86 million by 2029, growing at a CAGR of 9.03% during the forecast period (2024-2029).
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.
