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Latin America Platelet Rich Plasma Market Research Report - Segmented By Application, Product, Origin & Country (Mexico, Brazil, Argentina, Chile and Rest of Latin America) - Industry Analysis on Size, Share, Trends, COVID-19 Impact & Growth Forecast (2023 to 2028)

Published: March, 2023
ID: 7673
Pages: 145
Formats: report pdf report excel report power bi report ppt

Latin America Platelet-Rich Plasma Market Size (2023 to 2028)

The size of the Latin America platelet-rich plasma market is forecasted to be worth USD 54.09 million by 2028 from USD 32.2 million in 2023, growing at a CAGR of 10.93% during the forecast period.

An increase in sports injuries, an increase in cosmetic and surgical operations, and a growing usage of platelet-rich plasma in different therapeutic sectors are driving the expansion of the Latin American PRP market as these therapies involve injecting with a specific dose of the patient's platelets into damaged tissues, ligaments, and joints to speed up the healing process. Due to increasing incidences of orthopedic ailments, neurological problems, and cardiovascular disease, an increase in overweight or obesity has also contributed to the rising demand for platelet-rich plasma in the Latin American region. The market has also benefited from introducing new technology for better platelet-rich plasma preparation efficiency.

PRP has been used in various healthcare applications in the Latin American region owing to the capabilities of PRP therapies to promote the fastest recoveries, which is expected to boost the regional market growth. To accelerate the healing process, platelets are injected into the damaged location.

In Latin America, there is a lack of knowledge of technology and developments, which is expected to restrict the market’s growth rate from unleashing its full potential. Furthermore, unfavorable reimbursement rules with strict regulatory policies are further estimated to hamper the market's growth rate as they have tough approval processes with complex and highly time-consuming. To some extent, the market is also constrained by the risk of therapeutic failure. In addition, the side effects, such as tissue or nerve damage and allergies, in some cases, might stifle market expansion. Also, prices for various therapies have grown as they have become more commercialized.

This research report on the Latin America platelet-rich plasma market has been segmented and sub-segmented into the following categories:

By Application: 

  • Orthopedics
  • Cosmetic Surgery
  • Ophthalmic Surgery
  • Neurosurgery

By Product: 

  • Pure
  • Leukocyte-Rich
  • Leukocyte-Rich Fibrin

By Origin: 

  • Homologous PRP
  • Autologous PRP
  • Allogeneic PRP    

By Country: 

  • Mexico
  • Brazil
  • Argentina
  • Chile
  • Rest of Latin America

Geographically, The Latin American PRP market is expected to grow at a moderate CAGR during the forecast period owing to the lack of established manufacturers. Platelet-rich plasma has been the newest trend in the cosmetic surgery sector. In Latin America, surgeons use platelets' healing capabilities to promote skin health and its advantages. Despite the other uses of platelet-rich plasma in orthopedics and other areas, cosmetic surgery is dominant. The Agencia Nacional de vigilance sanitaria (ANVISA) is a significant regulatory body in Brazil. Professional councils will define the clinical reasons for platelet-rich plasma usage, and health facilities can undertake autologous use of PRP acquired from closed systems. Currently, the PRP therapies used in Latin America are not highly regulated, and there is no standardization in their composition and technologies incorporated. Thus, there are some uncontrolled practices. In addition, there is a high variation in the techniques used. Therefore, it is necessary to regulate its use to ensure its efficacy and safety to the customers.

Countries such as Mexico, Brazil, and Argentina are anticipated to occupy a considerable share of the Latin American market during the forecast period.

Companies playing a leading role in the Latin American platelet-rich plasma market profiled in this report are DR. PRP AMERICA, LLC, Glofinn Oy, Zimmer Biomet, DePuy Synthes, Emcyte Corporation, Terumo BCT, Anthrex Inc, T-Biotechnology, and Stryker.

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