The size of the Global Platelet Rich Plasma market is estimated to worth USD 499.55 million by 2025 from USD 261.74 million in 2020, registering a CAGR of 13.8% from 2020 to 2025.
Platelet-rich Plasma has purified plasma protein with red blood cells removed from it and used for its higher concentration of growth factors. Platelet-rich plasma can regenerate ligaments and tendon fibers. PRP treatments are tissue healing techniques with a wide range of applications. PRP is a sample collected from one’s blood and placed in an extractor to separate the platelets from various components. The platelet is then used back and injected into and around the injury for healing quickly.
Increasing PRP applications in various treatments such as hair loss, acute sports injuries, knee and thigh sprains, orthopedics, and others are primarily accelerating the global platelet-rich plasma market growth.
Increasing awareness among people regarding the platelet-rich plasma in dental health contributes to the growth of the platelet-rich plasma market. The PRP treatment is expected to surge by 12% from 113,356 procedures in 2017 to nearly 127,394 procedures in 2018.
The influx of investments from various government bodies is another significant factor that catalyzes the growth of the platelet-rich plasma market. Also, benefits associated with PRP, such as faster healing ability and reduced costs related to medical procedures, are boosting the growth of the global platelet-rich plasma business.
Steadily increasing prevalence of orthopedic conditions and the geriatric population are expected to create lucrative growth opportunities to the key market players functioning in the global platelet-rich plasma market during the forecast period. Increasing demand for PRP treatment among the patients diagnosed with hair loss, osteoporotic-related fracture, acute sports injuries, and others are likely to boost growth opportunities for the stakeholders in the world. Increasing applications of PRP in various therapeutic and cosmetic surgeries are providing lucrative opportunities. They are supposed to offer growth opportunities for the key players functioning in the global platelet-rich plasma market. Increasing investments and rise in account of research and development initiatives in countries such as Mexico, India, and Brazil regarding plasma therapy are assumed to expand the number of opportunities for the growth of the platelet-rich plasma market.
Manual errors such as the usage of infected syringes lead to infection in the area inserted or extracted the plasma, so eliminating human errors is the critical challenge for the growth of the platelet-rich plasma market. Side effects and pain associated with PRP treatment are challenging the growth of the worldwide platelet-rich plasma market.
Impact of COVID-19 on the global platelet-rich plasma market:
The disturbance of COVID 19 has positively affected the platelet-rich plasma market. The market is expected to have impressive growth in the upcoming years. Scientists and researchers invented that plasma therapy is one way of treating virus-affected people and recognized better results among the patient's recovering through plasma therapy. Over the crucial time, scientists and medical professionals highlight their research to find systematic, productive, and possible treatment for COVID 19. The factors mentioned above escalate the PRP market growth during the crisis time. Scientists are rushing to advance antidotes for new coronavirus. The recovering plasma therapy is developing as a solution to use antibodies from a recovered patient's blood to treat patients who are seriously affected by the virus. The initiation of coronavirus has slowed down the research activity rate in the PRP market. Companied of the PRP market enduring their research in improving plasma therapy for upcoming COVID-19 like viral diseases. The key players intensify research to stop people from being exposed to the infection's second and third waves. Healthcare companies are working effortlessly to make symptoms less ill in patients who recognize coronavirus more than once. Some of the government bodies are executing diverse activities to assist the businesses during the crisis period.
Market Size Available
2019 to 2025
2020 to 2025
By Application, Product, Origin, and Region
Various Analyses Covered
Global, Regional & Country Level Analysis, Segment-Level Analysis, Drivers, Restraints, Opportunities, Challenges, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview on Investment Opportunities
North America, Europe, Asia Pacific, Latin America, Middle East, and Africa
This report on the global platelet-rich plasma market has been segmented by Application, Product, and Origin.
Platelet Rich Plasma Market Analysis - By Application:
Under this segment, the market is dominated by the Orthopaedics segment, which includes treating diseases like Rotator cuff tears, Achilles tendinopathy, Osteoarthritis. Applications in Cosmetology are also predicted to increase in market value with rising demand for Cosmetic surgery techniques.
Platelet Rich Plasma Market Analysis - By Product:
Based on the product, the market is dominated by the pure PRP segment because of less inflammatory responses and effective results in bone regeneration. Leukocyte-rich PRP is expected to rise with a high growth rate owing to its efficiency in healing soft tissue. PRP therapy is the go-to method for soft tissue healing and thus is projected to grow steadily in market value in upcoming years.
Platelet Rich Plasma Market Analysis - By Origin:
Platelet Rich Plasma Market Analysis - By Region:
Regionally, North America was leading the PRP market globally in 2019. More significant developments in plasma therapy and an increasing number of orthopedic diseases have led to North America being the market leader. Presence of key players and the increasing frequency of cosmetic surgeries and sports injuries, a growing number of people with orthopedic disorders are primarily driving the North American Market. The United States is leading the North American market due to government steps taken to develop blood products and is followed by the Canadian market.
Europe is the second-largest market for PRP and is witnessed to showcase a promising growth rate during the forecast period. The UK market has been led by factors such as the limited existence of domestic manufacturers of PRP. France is the second-largest in the PRP market and is estimated to maintain its position throughout the period.
At the same time, Asia-Pacific is expected to witness a steady rise in market value, with countries like India, China, and Japan contributing heavily to the overall global Platelet Rich Plasma Market. Growing awareness of the PRP market is to drive the market. Also, increasing investments in healthcare infrastructure, the amount spent on healthcare, a large population base with chronic bounds, and orthopedic disorders are responsible for the growth in this region.
Over the forecast period, the Latin American market is projected to have a steady growth rate. The Brazilian market is accounted to have maximum share of the PRP market wide range of PRP usage for applications like hair loss, knee, and thigh sprains accelerate the market. Mexico and Brazil are to make considerable investments to spread awareness regarding plasma therapy.
The Middle East & Africa region is deemed to have a significant growth rate in the coming years. The growth is due to government increase for safe disposal of unused medications, and awareness about safe disposal of pharmaceuticals and environmental conservation is likely to influence the PRP market growth.
KEY MARKET PARTICIPANTS:
Some of the key manufacturers leading the Global PRP market include DR. PRP AMERICA, LLC, Glofinn Oy, Zimmer Biomet, DePuy Synthes, Emcyte Corporation, Terumo BCT, Anthrex Inc, T-Biotechnology, and Stryker.
KEY HAPPENINGS IN THIS MARKET IN THE RECENT PAST:
1.1 Market Definition
1.2 Study Deliverables
1.3 Base Currency, Base Year and Forecast Periods
1.4 General Study Assumptions
2. Research Methodology
2.2 Research Phases
2.2.1 Secondary Research
2.2.2 Primary Research
2.2.3 Econometric Modelling
2.2.4 Expert Validation
2.3 Analysis Design
2.4 Study Timeline
3.1 Executive Summary
3.2 Key Inferences
4. Drivers, Restraints, Opportunities, and Challenges Analysis (DROC)
4.1 Market Drivers
4.2 Market Restraints
4.3 Key Challenges
4.4 Current Opportunities in the Market
5. Market Segmentation
5.1.3 Cosmetic Surgery
5.1.4 Ophthalmic surgery
5.1.6 Y-o-Y Growth Analysis, By Application
5.1.7 Market Attractiveness Analysis, By Application
5.1.8 Market Share Analysis, By Application
5.2.4 Leukocyte-Rich Fibrin
5.2.5 Y-o-Y Growth Analysis, By Type
5.2.6 Market Attractiveness Analysis, By Type
5.2.7 Market Share Analysis, By Type
5.3.2 Homologous PRP
5.3.3 Autologous PRP
5.3.4 Allogeneic PRP
5.3.5 Y-o-Y Growth Analysis, By Origin
5.3.6 Market Attractiveness Analysis, By Origin
5.3.7 Market Share Analysis, By Origin
6. Geographical Analysis
6.1.1 Regional Trends
6.1.2 Impact Analysis
6.1.3 Y-o-Y Growth Analysis
22.214.171.124 By Geographical Area
126.96.36.199 By Application
188.8.131.52 By Product
184.108.40.206 By Origin
6.1.4 Market Attractiveness Analysis
220.127.116.11 By Geographical Area
18.104.22.168 By Application
22.214.171.124 By Product
126.96.36.199 By Origin
6.1.5 Market Share Analysis
188.8.131.52 By Geographical Area
184.108.40.206 By Application
220.127.116.11 By Product
18.104.22.168 By Origin
6.2 North America
6.1.2 United States
6.3.6 South Korea
6.5 Latin America
6.4.5 Rest of Latin America
6.6 Middle East & Africa
7. Strategic Analysis
7.1 PESTLE analysis
7.2 Porter’s Five analysis
7.2.1 Bargaining Power of Suppliers
7.2.2 Bargaining Power of Consumers
7.2.3 Threat of New Entrants
7.2.4 Threat of Substitute Products and Services
7.2.5 Competitive Rivalry within the Industry
8. Market Leaders' Analysis
8.1 Zimmer Biomet
8.1.2 Product Analysis
8.1.3 Financial analysis
8.1.4 Recent Developments
8.1.5 SWOT analysis
8.1.6 Analyst View
8.2 DR. PRP AMERICA
8.4 Gloffin Oy
8.5 Depuy Synthes
8.6 Emcyte Cororation
8.7 Terumbo BCT
8.8 Anthrex Inc
9. Competitive Landscape
9.1 Market share analysis
9.2 Merger and Acquisition Analysis
9.3 Agreements, collaborations and Joint Ventures
9.4 New Product Launches
10. Market Outlook and Investment Opportunities
a) List of Tables
b) List of Figures