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Global Platelet Rich Plasma (PRP) Market Size, Share, Trends, COVID-19 Impact and Growth Analysis Report – Segmented By Product (Pure-PRP, Leukocyte-Rich and Leukocyte-Rich Fibrin), Application (Orthopedics, Cosmetic surgery, Ophthalmic surgery and Neurosurgery), Origin and Region – Industry Forecast From 2024 To 2029

Published: March, 2023
ID: 7669
Pages: 175
Formats: report pdf report excel report power bi report ppt

Global Platelet-Rich Plasma Market Size (2024 to 2029)

The global platelet-rich plasma market size is estimated to be worth USD 735.86 million by 2029 from USD 385.55 million in 2024, registering a CAGR of 13.8% from 2024 to 2029.

Global Platelet-Rich Plasma Market Drivers:

Increasing usage of PRP 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. The awareness among people regarding platelet-rich plasma applications in health applications is growing significantly, which is expected to result in market growth. As per the statistics published by the American Society of Plastic Surgeons in their 2018 Plastic Surgery Statistics Report, the usage of PRP treatment is expected to grow by 12% from 113,356 procedures in 2017 to nearly 127,394 procedures in 2018. In addition, the increasing investments from the governments of various countries in favor of PRP are another key factor contributing to the PRP market growth. In addition, the rising awareness levels among the public regarding the benefits associated with PRP, such as faster healing ability and reduced costs related to medical procedures, are expected to fuel the growth rate of the global market during the forecast period.

In addition, the growing patient population suffering from orthopedic diseases and the rising aging population worldwide are favoring the global platelet-rich plasma market growth. Furthermore, the growing applications of platelet-rich plasma in regenerative medicine and surgical procedures are expected to duel the PRP market growth.

Global Platelet-Rich Plasma Market Restraints:

However, risks associated with PRP treatments are one of the major factors hampering the global PRP market growth. In addition, side effects associated with PRP treatment are inhibiting the growth rate of the global platelet-rich plasma market. Lack of standardization and regulations, lack of clinical evidence, and high costs of PRP treatments are further impeding the global PRP market growth. The costs of PRP treatment are not covered in many countries. Hence lack of insurance coverage for PRP treatments is another obstacle to market growth. Issues associated with safety and competition from alternative treatment options are further expected to impact the worldwide PRP market growth negatively. The scarcity of skilled workforce that can operate PRP is another drawback to the market's growth rate.

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 plasma therapy as one way of treating virus-affected people and recognized better results among the patients recovering through plasma therapy. Over this crucial time, scientists and medical professionals highlight their research to find systematic, productive, and possible treatments for COVID-19. The factors mentioned above escalated the PRP market growth during the crisis time. Scientists are rushing to advance antidotes for the new coronavirus. The recovering plasma therapy is developed to use antibodies from a recovered patient's blood to treat patients seriously affected by the virus. The coronavirus initiation has slowed the research activity rate in the PRP market. Companies in the PRP market are enduring their research to improve plasma therapy for upcoming COVID-19-like viral diseases. The key players intensify research to stop people from exposure to the second and third waves of infection. Healthcare companies are working effortlessly to make symptoms less ill in patients who have recognized coronavirus more than once. Some government bodies are executing diverse activities to assist businesses during the crisis.

REPORT COVERAGE:

REPORT METRIC

DETAILS

Market Size Available

2023 to 2029

Base Year

2023

Forecast Period

2024 to 2029

Segments Covered

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 of Investment Opportunities

Regions Covered

North America, Europe, Asia Pacific, Latin America, the Middle East, and Africa

Market Leaders Profiled

DR. PRP AMERICA, LLC, Glofinn Oy, Zimmer Biomet, DePuy Synthes, Emcyte Corporation, Terumo BCT, Anthrex Inc, T-Biotechnology, and Stryker.

 

 

This global platelet-rich plasma market report has been segmented by application, product, and origin.

Global Platelet-Rich Plasma Market Analysis - By Product:

  • Pure-PRP
  • Leukocyte-Rich
  • Leukocyte-Rich Fibrin

Based on the product, the pure PRP segment accounted for the leading share of the platelet-rich plasma market in 2023 because of less inflammatory responses and effective results in bone regeneration. In addition, pure PRP has a high concentration of platelets. The growing adoption of pure PRP in dental and orthopedic applications further propels segmental growth. In addition, the growing adoption of minimally invasive surgeries and rising awareness among healthcare providers and people regarding the advantages associated with Pure PRP is fuelling the segment's growth rate.

The Leukocyte-rich PRP segment is expected to rise at the fastest growth rate during the forecast period 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 upcoming years.  The growing usage of Leukocyte-rich PRP in treating sports injuries, tendonitis, and other soft-tissue conditions is one of the major factors promoting the segment's growth rate. In addition, the development of new leukocyte-rich PRP techniques is another notable factor supporting the segment's growth rate.

Global Platelet-Rich Plasma Market Analysis - By Application:

  • Orthopedics
  • Cosmetic surgery
  • Ophthalmic surgery
  • Neurosurgery

Based on application, the orthopedics segment had the largest share of the global platelet-rich plasma market in 2023, owing to the growing patient population suffering from orthopedic diseases worldwide. PRP is one of the population treatment options for orthopedic conditions such as osteoarthritis, tendinitis, and ligament injuries. PRP therapy is very effective in promoting bone healing and soft tissue.

In addition, the cosmetology segment is predicted to showcase a healthy CAGR during the forecast period owing to the rising demand for cosmetic surgeries worldwide. In addition, the rising concerns regarding appearances with the internet and social media penetration are fuelling the segment's growth rate. 

Global Platelet-Rich Plasma Market Analysis - By Origin:

  • Homologous PRP
  • Autologous PRP
  • Allogeneic PRP

Based on the origin, the autologous PRPs segment is expected to dominate the market during the forecast period due to the applications of autologous PRPs in curing diabetic ulcers without any significant risks associated with the procedure. In addition, Autologous PRPs support the wound-healing process and have broad applications in fat grafting and maxillofacial surgeries. This treatment causes less blood loss and helps safe, fast, and effective procedures. 

Global Platelet-Rich Plasma Market Analysis - By Region:

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East and Africa

The North America PRP market accounted for the leading share of the global market in 2023. More significant developments in plasma therapy and an increasing number of orthopedic diseases have led to North America being the market leader. With the 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 to develop blood products, followed by the Canadian market.

The PRP market in Europe was the second-largest region in the global market in 2023 and showcased a promising growth rate during the forecast period. The U.K. 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 forecast period.

At the same time, the Asia-Pacific PRP market is expected to rise steadily, with countries like India, China, and Japan contributing heavily to the 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 PRP market is projected to have a steady growth rate. The Brazilian market is accounted to have the 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 PRP market is deemed to have a moderate growth rate in the coming years. The growth is due to the government increase for the safe disposal of unused medications, and awareness about the safe disposal of pharmaceuticals and environmental conservation is likely to influence the PRP market growth. 

KEY MARKET PARTICIPANTS:

Some 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:

  • In March 2020, The EmCyte Company completed the acquisition of centrepid platelet concentrator from Cellmedix Holdings Inc. With this acquisition, the EmCyte Corporation has expanded its product portfolio and strengthened its distribution network. Also, the CEO of EmCyte was excited that this acquisition would boost its operations regarding biological creativity.
  • In March 2020, Aesthetics Biomedical Inc. announced that it had acquired U.S. patents for Biologic Preserving Composition and Methods of Use. These patents are applied for integrations of skincare into biologics. 
  • Researchers from a medical university in Dublin have collaborated with another medical university from Poland to analyze the efficacy of PRP as adjuvant therapy for VVF. The researchers confirmed that access to PRP injections is helpful for the surgical repair of recurrent VVF.

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FAQ's

How much was the global platelet rich plasma market worth in 2023?

The global platelet rich plasma market size was valued at USD 338.8 million in 2023. 

Which segment by product led the platelet rich plasma market in 2023?

The pure PRP segment had the dominant share in the global PRP market in 2023.

Which region held dominating share in the global PRP market in 2023?

North America accounted for the largest share of the global PRP market in 2023

What are some of the leading companies in the PRP market?

DR. PRP AMERICA, LLC, Glofinn Oy, Zimmer Biomet, DePuy Synthes, Emcyte Corporation, Terumo BCT, Anthrex Inc, T-Biotechnology, and Stryker are a few of the noteworthy companies in the PRP market.

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