Platelet Rich Plasma Market Overview 2020, Industry Trends, Size, Business Insight, Demand, Regional Analysis, Top Company Profile
Platelet rich plasma (PRP), also called autologous conditioned plasma, is a concentrate of platelet-rich plasma protein derived from whole blood and centrifuged to remove blood cells. Platelets contain bio proteins that helps in healing, tissue regeneration, and blood loss. Platelet rich plasma protein comprised of three proteins namely fibrin, fibronectin, and vitronectin, which act as cell adhesive molecule. Since 2009, the use of platelet rich plasma therapy has significantly increased, owing to its wide application and no side effects. Platelet rich plasma is used for the treatment of injured tendons, muscle, joints, and ligaments. Use of PRP therapy on patients with low back pain helps them to recover. It is also widely used for the treatment for baldness, as PRP treatment increase the blood flow.
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PRP treatment has no side effects, which is why it has been accepted globally. It is used for different procedures including cosmetic surgery, orthopedics, pain reliving treatment, etc. Leukocyte rich PRP treatment segment is expected to witness highest growth during the forecast period, as it stimulates the growth of tissues, which helps in the treatment of soft tissue defects of human body in future. Moreover, on the basis of application, orthopedics segment accounts for the largest market share in the global platelet rich plasma market, as it helps in the treatment of various orthopedic disorders, such as knee osteoarthritis, Achilles tendinopathy, and rotator cuff tears.
Global Platelet Rich Plasma Market Taxonomy
On the basis of PRP type, the market is segmented into:
- Leucocyte Rich PRP
- Pure Platelet Rich Fibrin
- Leukocyte-Rich PRF
On the basis of applications, the market is segmented into:
- Cosmetic Surgery and Dermatology
- General Surgery
- Cardiothoracic Surgery
On the basis of origin, the market is segmented into:
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Market Dynamics- Drivers
Diversified use of platelet rich plasma to fuel the growth of market in near future
Establishment of robust healthcare facilities for geriatric population and sports related injuries are expected to drive growth of the global platelet rich plasma market during the forecast period. Increasing concern of the young population about the aesthetic appeal is also expected to fuel the market growth, since PRP finds applications in cosmetic surgery. In 2016, there was increase of around 7% in non-surgical procedures of cosmetic surgery and PRP treatment, which is expected to boost the market growth in the near future.
Emerging economies – major growth engines of the global platelet rich plasma market
The global platelet rich plasma market is segmented into North America, Europe, Asia Pacific, Latin America, the Middle East, and Africa. Among regions, North America holds a dominant position in the global platelet rich plasma market. This is owing to advances in healthcare facilities and technology. Increase in cosmetic surgery, orthopedic surgeries, and sports injuries are expected to fuel growth of the global platelet rich plasma market in this region. According to the American society of plastic surgeons, in 2015, around 15.9 million cosmetic procedures are done in the U.S. According to Stop Sports Injuries report, there are around 2 million sports injuries takes place in high school athletes and more than 3.5 million kids aged 14 years and below receive treatment for sports injury in the U.S. Moreover, Europe accounts for the second largest share in the global platelet rich plasma market. This is owing to rise in demand for cosmetic procedures across the economies. Asia Pacific accounts for the third largest market share and is expected to witness significant growth during the forecast period. This is owing to rise in geriatric population and demand for advanced cosmetic surgeries. According to the World Economic Forum, it is expected that geriatric population will be more than 2 billion by 2050.
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Key players operating the platelet-rich plasma market include Harvest Technologies Corporation, Biomet Inc., Arthrex Inc., Arteriocyte Medical systems, Dr. PRP America LLC, EmCyte Corporation, Regen Lab Sa, Exactech Inc., and Cesca Therapeutics Inc. Harvest Technologies Corporation, Arthrex Inc., and Biomet Inc.
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