Europe Platelet rich Plasma Market to Score Past $75.8 Million Valuation by 2027 | Key Companies: Arthrex, Inc., Stryker Corporation, Johnson and Johnsons Ltd., Zimmer Biomet Holdings Inc., Terumo Corporation, Glofinn Oy.
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Platetet-Rich Plasma (PRP) or Platelet-Rich Fibrin (PRF) – are used or tested as surgical adjuvants or regenerative medicine preparations in sports medicine and orthopedic surgery.
Europe platelet-rich plasma market is estimated to account for US$ 75.8 Mn in terms of value by the end of 2027
Europe Platelet-rich Plasma Market: Drivers
The increasing technological advancements in PRP therapy are expected to aid in the growth of the Europe platelet-rich plasma market during the forecast period. For instance, PEAK PRP System (manufactured by DePuy Synthes) prepares highly concentrated 3 ml of PRP from 27 ml of whole blood in only two and half minutes.
Europe Platelet-rich Plasma Market: Opportunities
Regulatory reforms related to position on platelet rich plasma treatments are expected to offer lucrative growth opportunities for players in the market. For instance, in July 2019, Health Canada, while clarified that PRP treatments, including Platelet Rich Fibrin treatments, are not the same as cell therapies and, as a result, are not subject to Health Canada’s Policy Position Paper on Autologous Cell Therapy Products.
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Europe Platelet-rich Plasma Market: Restraints
The increasing recommendations against the use of PRP is expected to hinder growth of the market. For instance, in January 2020, the American College of Rheumatology, in partnership with the Arthritis Foundation, released the 2019 ACR/AF Guideline for the Management of Osteoarthritis of the Hand, Hip and Knee, which recommended against the use of PRP injections for the treatment of hip and knee osteoarthritis.
The kits segment in Europe platelet-rich plasma market was valued at US$ 34.9 Mn in 2019 and is expected to reach US$ 60.4 Mn by 2027 at a CAGR of 7.1% during the forecast period. The growth of the segment is attributed to product approvals during the forecast period.
The knee segment held dominant position in Europe platelet-rich plasma market in 2019, accounting for 36.7% share in terms of value, followed by elbow and foot & ankle segments, respectively. The increasing incidence and prevalence of osteoarthritis of the knee during the forecast period is anticipated to propel the growth of the segment.
Addition of exogenous anticoagulant and procoagulant may result in clinical side effects and raise the price of PRP, which has led to R&D in new approaches for preparation and activation of PRP without additives. For instance, in May 2018, researchers from Nanfang Hospital of Southern Medical University reported development of a novel method named temperature controlled PRP, which does not require use of exogenous additives in the preparation and activation process.
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Several skin care centers are offering PRP for various treatment modalities. For instance, in December 2019, Maryland Center for Facial Plastic Surgery started offering Rohrer PiXel8-RF device for radiofrequency (RF) microneedling treatments and PRP therapy.
- In France, the blood system and its products are controlled by the Direction Générale de the Santé (DGS), whereas the responsibility of haemovigilance lies with Agence Française de Sécurité Sanitaire des Produits de Santé (AFSSAPS).
- In Germany, blood and blood components are marketed and regulated according to the German medicinal product act (AMG, ARZNEIMITTELGESETZ), which is the law of reference in the health sector
- In Spain, the Spanish Agency of Medicines and Medical Devices (AEMPS) regulates the use of platelet-rich plasma (PRP) as a human-use medicinal product. This regulatory framework offers emerging challenges to adapt the use of PRP to the new requirements of safety and efficacy.
Europe Platelet-rich Plasma Market: Competitive Landscape
Major players operating in Europe are Arthrex, Inc., Stryker Corporation, Johnson and Johnsons Ltd., Zimmer Biomet Holdings Inc., Terumo Corporation, Glofinn Oy, Medira Ltd., Regen Lab S.A., and Estar Technologies Ltd.
Europe Platelet-rich Plasma Market: Key Developments
- January 2020: SHVI PRP Therapy announced a new website that is focused specifically at the use of PRP to mitigate hair loss.
- January 2019: Generex Biotechnology Corporation entered into a letter of intent to acquire Medisource Partners, an FDA-registered distributor of medical and surgical products including supplies kits to process bone marrow aspirates and PRP biologics at the time of surgery.
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Scope of the report
- Europe Platelet-rich Plasma Market, By Product Type:
- Kit By Type
- Pure Platelet-Rich Plasma (P-PRP)
- Leukocyte-Rich Platelet-Rich Plasma (L-PRP)
- Leukocyte-Platelet-Rich Fibrin (L-PRF)
- Pure Platelet-Rich Fibrin (P-PRF)
- Kit By Origin
- Autologous Platelet-Rich Plasma
- Homologus Platelet-Rich Plasma
- Allogeneic Platelet-Rich Plasma
- Kit By Type
- Europe Platelet-rich Plasma Market, By Application:
- Foot and Ankle
- Europe Platelet-rich Plasma Market, By Country/Region:
- Rest of Europe
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