According to the research professionals at Strategic Market Research, the total market for Platelet Rich Plasma was worth USD 314 million in 2020 and is likely to reach a landmark of nearly USD 985 million in 2030 with a robust CAGR of 12.12 %. Let us make you well acquainted with some of the most crucial statistics regarding the market.
New York, United States, May 24, 2022 (GLOBE NEWSWIRE) -- Platelet-rich plasma (PRP) therapy utilizes the patient's platelets by loading its concentration in the injection to enhance the healing of different body parts like the injured ligaments, tendons, muscles and joints. The PRP injections utilize each patient's own healing system to improvise the various musculoskeletal problems. Based on the Sample type, the ‘Pure PRP’ market segment possessed the largest proportion of the entire Platelet Rich Plasma market, with 52.8% in 2020. It is anticipated to maintain its dominance over 2020-2030. Moreover, based on region, North America dominated the total Platelet Rich Plasma Market with 45.5% in 2020. On the other side, the Asia Pacific region previses to witness the highest CAGR of around 14.1%.
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The segmentation of the latest report published by Strategic Market Research on Platelet Rich Plasma Market is as follows:
Based on the Sample type
Based on the Origin
Based on Application
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The Market for Global Platelet Rich Plasma is prevised to reach a market value of USD 985 million by 2030 from USD 314 million in 2020, at a CAGR of 12.12 percent throughout the projected period. The increase in the overall usage of platelet-rich plasma to treat anti-ageing problems & removing stretch marks, cure sports injuries, and increase in cosmetic &surgical procedures are the key drivers that amplify the market's overall growth. In 2019, over 18.1 million cosmetic surgeries were carried out in the United States, as per the American Society of Plastic Surgeons (ASPS).
By Sample type, the ‘Pure PRP’ market segment held the greatest share of the Platelet Rich Plasma Market.
Based on the Sample type, the total Platelet Rich Plasma Market has been classified into Pure PRP, Leukocyte-rich PRP and Pure PRF. Among these segments, the ‘Pure PRP’ market segment possessed the largest proportion of the entire platelet Rich Plasmamarket with a share of 52.8% in 2020. It is mainly due to the rise in the technical developments in the PRP devices, which have led to the increase in the overall usage of pure PRP in various situations.In accordance with the National Library of Medicine, the overall platelet count of 10 lakh/ml in 5 mL of PRP, is regarded as a working definition of PRP, based on the scientific proof of bone and soft tissue healing.
By Origin, the ‘Autologous ’ market segment had the largest share of the total Platelet Rich Plasma Market.
Based on the Origin, ‘Autologous’ market segment held the highest Platelet Rich Plasma Market share in 2020. Autologous platelet-rich plasma (PRP) is a straightforward, safe, and cost-effective cure that promotes key parameters like cell migration, proliferation, and angiogenesis. Moreover, autologous PRP is highly effective in the overall treatment of chronic non-healing ulcers. The need for autologous PRP is likely to grow mostly in developed nations worldwide. In accordance with NCBI, chronic non-healing ulcers are an extremely serious public health problem that mostly affects the estimation of around 2–6 million people in the United States alone, with global prevalence ranging from 1.9% to 13.1% of the total population.
By Application, the ‘Orthopaedic surgery market segment dominated the entire Platelet Rich Plasma Market.
Based on the Application, the ‘Orthopaedic surgery; held the maximum proportion of the entire Platelet Rich Plasma market share in 2020. During the projection period, the segment is expected to be driven by the rise in orthopaedic procedures globally. The Orthopedists mostly utilize knee and hip prostheses, which enable the patients to restore the complete range of motion, pain-free, in a very short span of time. As per the Rehabilitation Research and Training Centre on Disability Statistics and Demographics, in the United States, the overall percentage of the population with impairments has surged from roughly 11.9% to 12.9%.
North America possessed the largest share of the entirePlatelet Rich Plasma Market throughout the projected period
Based on Regions, North America dominated the total Platelet Rich Plasma Market with a 45.5% market share in 2020. The rise in the prevalence of numerous ailments, such as arthritis, improved regulatory environment, and well-established healthcare infrastructure accounted for the market's overall expansion, especially in the United States. According to the report published by CDC(Centers for Disease Control and Prevention), approximately 54.4 Million people (i.e. 22.7 %) in the entire United States have been diagnosed with diseases like rheumatoid arthritis, common arthritis, gout, etc. On the other side, the Asia Pacific region is prevised to witness the highest CAGR of around 14.1%.
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The topmost players that are covered in the Global Platelet Rich Plasma Market report are:
F. Hoffmann-La Roche Ltd.
Dickinson and Company
Trinity Biotech plc
ACON Laboratories, Inc.
Assure Tech. (Hangzhou) Co., Ltd.
Zimmer Biomet Holdings Inc.
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Global Platelet Rich Plasma Market: Recent Developments
On 8th September, 2021, the Royal Biologics declared the clearance of FDA 510(k) approval of their Maxx-PRP concentration system. The Maxx-PRP is a patented next-generation concentration product that can be utilized to concentrate the autologous whole blood for the safe and rapid preparation of platelet-rich plasma. The Royal's Maxx-PRP system offers "customizable formulations" of platelet-rich plasma, thus enabling the clinicians to cure a variety of conditions in the fields like sports medicine, plastic surgery, orthopedics, and regenerative medicine.
On 1st July, 2021, Zimmer Biomet Holdings, Inc., a global leader in musculoskeletal healthcare, declared their partnership with OSSIS to serve as the exclusive Asia Pacific distributor for its patient-specific 3D printed titanium hip replacement joints. This partnership will enable Zimmer Biomet to offer an extensive network of orthopaedic surgeons with an alternative of patient-specific implants framed with a combination of clinical and engineering expertise.
On 20th Feb, 2020, EmCyte, the market leader in platelet rich plasma and progenitor stem cell biologics, finalized the acquisition of all the assets of Cellmedix Holdings LLC, involving the Centrepid Platelet Concentrator system. This acquisition will boost the intellectual property profile of EmCyte Corporation and will help in extending its entire product development capabilities.
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