The global platelet rich plasma market is expected to drive growth at a CAGR of 11.6% during the forecast period and to reach valuation around US$ 708.64 million by 2030.
The global platelet rich plasma market is expected to drive growth at a CAGR of 11.6% during the forecast period and to reach valuation around US$ 708.64 million by 2030.
Growth Factors
Due to anticipated supply chain disruptions, the key market players in the platelet rich plasma market are revising key assumptions in financial predictions as pharmaceutical and life sciences businesses make adjustments to their supply networks. The platelet rich plasma is becoming more popular in plastic surgery. The cosmetic operations, on the other hand, can be time intensive and may require numerous sessions, resulting in significant expenses. As a result, the key market players should raise knowledge about the benefits of cosmetic platelet rich plasma, which has shown to improve skin contour dramatically. Thus, platelet rich plasma is being used to treat orthopedic disorders including knee arthritis and to speed up the healing process following orthopedic surgery. The platelet rich plasma is being developed by market players in the platelet rich plasma market to treat chronic tendon injuries, fractures, acute ligament injuries, and among other things. The platelet rich plasma therapy’s benefits and uses over traditional wound healing and illness therapies such as surgery and pharmaceuticals have resulted in increased demand for platelet rich plasma products around the world.
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Report Highlights:
- Based on the product, the PRP segment dominated the global platelet rich plasma market in 2020 with largest market share. PRP’s benefits such as quicker healing, tissue repair and production, and general function improvement have enhanced their demand across several treatments business spaces, adding to segment expansion.
- On the basis of application, the orthopedics segment holds the largest market share the global platelet rich plasma market in 2020. When compared to traditional techniques, platelet rich plasma injections as orthopedic therapies are more convenient because they encourage healing and lead to self-generation and repair of degenerative tissue.
- By origin, the autologous platelet rich plasma segment is the largest segment in the platelet rich plasma market. Blood is used to make autologous platelet rich plasma, which is separated from red blood cells using extractors. It is mostly used to treat bone defects.
- North America is the largest segment for platelet rich plasma market in terms of region. This is due to greater knowledge of platelet rich plasma therapies, technological developments, and an increase in cosmetic surgery procedures in the region.
- Asia-Pacific region is the fastest growing region in the platelet rich plasma market. The cosmetic operations to improve facial features are becoming more popular in emerging nations which is expected to drive the platelet rich plasma market expansion in the region. Furthermore, the region’s expanding medical tourism business is likely to enhance market adoption.
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Future of Platelet Rich Plasma Market
The platelet rich plasma’s use in hair regeneration and the treatment of androgenic alopecia will continue to grow in popularity. The quantitative measures including hair count, photomicrographs, dermoscopic, and immunohistochemistry back up positive results. The human dermal cells that govern hair follicle growth are successfully increased by platelet rich plasma. PRP, both as a standalone treatment and in combination with hair transplant procedures has resulted in an overall improvement in hair density, which is contributing to the platelet rich plasma market growth.
COVID-19 Impact Analysis:
- Due to a scarcity of antiviral treatments and the fact that plasma therapy is considered an emergency treatment approach, the present COVID-19 pandemic has helped to boost the platelet rich plasma market.
- The platelet rich plasma can be utilized for pain management during COVID-19, which is one of its advantages. This approach, which has been used to prevent surgery is also helpful in giving short term pain relief in patients who are awaiting surgical clearance and do not want to be delayed any further by the side effects of steroids.
Key Developments in the Marketplace:
- Atlas Health Medical Group declared the availability of PRP Micro-needling Facelifts to patients in February 2021.
- Zimmer Biomet Holdings Inc., a global leader in musculoskeletal healthcare, established a strategic alliance with OSSIS, a firm that specializes in hip replacement treatments in July 2021.
- Regen Lab SA declared in May 2019 that it had received additional patents in the U.S. for its Thrombin Serum, Hyaluronic Acid, and Platelet Rich Plasma technologies.
- Harbor View Medical Services was acquired by Regenexx in July 2017.
- Regen Lab SA’s platelet rich plasma patent was cancelled by the European Patent Office in May 2019 due to a lack of innovation, according to Estar Technologies Ltd.
- ThermoGenesis Corporation received stockholder approval for its acquisition of TotipotentRx Cell Therapy Pvt. Ltd in February 2014.
Market Segmentation
By Product
- Leukocyte Rich PRP
- Pure PRP
- Leukocyte Rich Fibrin
By Origin
- Allogeneic PRP
- Autologous PRP
- Homologous PRP
By Application
- Cosmetic Surgery & Dermatology
- Orthopedic Surgery
- General Surgery
- Ophthalmic Surgery
- Neurosurgery
- Other
Regional Outlook
- North America
- Asia Pacific
- Europe
- Latin America
- The Middle East and Africa
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