Platelet-rich Plasma Market Size, Share, Growth, Trends, Production, Consumption, Revenue and Forecast 2021 to 2030

Published Date : Apr 2020 | No. of Pages : 200 Pages | Category : Healthcare

According to Vision Research Reports, the global platelet-rich plasma market was valued at US$ 222.6 Mn in 2020 and is projected to expand at a CAGR of 12.1% from 2021 to 2030. Increase in the number of orthopedic patients globally, rising number of cosmetic surgical procedures, and growing awareness about platelet-rich plasma therapies to drive the global platelet-rich plasma market from 2021 to 2030.

The global platelet-rich plasma market size is expected to reach around US$ 590 million by 2030.

The report provides revenue of the global platelet-rich plasma market for the period 2017–2030, considering 2021 as the base year and 2030 as the forecast year. The report also provides the compound annual growth rate (CAGR) for the global platelet-rich plasma market during the forecast period.

The report includes an elaborate executive summary, along with a snapshot of the growth behavior of various segments included in the scope of the study. Furthermore, the report sheds light on changing competitive dynamics in the global platelet-rich plasma market. These indices serve as valuable tools for existing market players as well as for entities interested in entering the global platelet-rich plasma market.

The report delves into the competitive landscape of the global platelet-rich plasma market. Key players operating in the global platelet-rich plasma market have been identified, and each one of these has been profiled for distinguishing business attributes. Company overview, financial standings, recent developments, and SWOT are some of the attributes of players in the global platelet-rich plasma market that have been profiled in this report.

Hair, Skin Care Therapies Translate into Incremental Opportunities for Stakeholders

Apart from musculoskeletal conditions, companies in the platelet-rich plasma market are tapping growth opportunities in hair and skin care. Microneedling, with the help of platelet-rich plasma injections, holds promising potentials to improve skin texture and appearance.

As far as hair loss is concerned, platelet-rich plasma is being used to inject deep into the scalp to reach the bottom of the hair follicle. This helps to stimulate a specialized population of cells named dermal papilla cells, which contribute to hair growth. Companies in the platelet-rich plasma market are increasing their production of injections that aid in hair growth. Such injection therapies are later followed by maintenance sessions to ensure better outcomes in individuals. The high prevalence of androgenetic alopecia (AGA), i.e. hormone related baldness in individuals worldwide is acting as a key driver for the market.

Platelet-rich Plasma Therapy Replaces Steroids for Back, Join Pain Treatment

Companies in the platelet-rich plasma market are becoming aware about the benefits of platelet-rich plasma therapy for back pain. Interventional pain physicians at the Ohio State University Wexner Medical Center are using platelet-rich plasma injections to treat sacroiliac (SI) joint and back pain. Also known as the orthobiologic injection-based therapy, it is found that this treatment helps to treat joint pain and spinal conditions.

The platelet-rich plasma therapy is emerging as an alternative to steroid injections. Such trends are contributing toward the growth of the platelet-rich plasma market, since these therapies provide long lasting benefits as compared to steroids, where the latter only lasts a few weeks or months.

Innovative Kits Facilitate Easy, Effective, Efficient Extraction of Highly Concentrated Platelets

The paradigm is changing for the treatment of orthodontic conditions. Platelet-rich plasma is being publicized as a biological treatment for orthopedic surgery, dentistry, and thoracic surgery, among others, since the risk of the disease transmission is being lowered. Companies in the platelet-rich plasma market such as Pervice Korea are acquiring recognition for its innovative 3E-PRP kit, which facilitates the extraction of highly concentrated platelets.

Easy, effective, and efficient extraction of highly concentrated platelets is being established by companies in the platelet-rich plasma market by increasing their R&D in innovative kits.

Continuous R&D Innovation Helps Study Different Bone Substitute Materials

Platelet-rich plasma (PRP) is serving as a therapeutic agent, which triggered healing activity and biologically active molecules that are released by platelets in their natural mix. However, low concentrations of platelet-rich plasma appear to have minimal effects, whereas too high concentrations many result in negative effects on the tissue repair process. Even lack of controlled clinical trials has led to difficulties in interpreting results. Thus, continuous R&D activities are emerging as a potential solution to study different bone substitute materials that tend to influence the overall effects of the platelet-rich plasma therapy.

The microinvasive approach involving platelet-rich plasma and adipose-derived stem cells has created a favorable environment to enhance bone regeneration in the platelet-rich plasma market.

Overview

  • North America and Europe are projected to dominate the global platelet-rich plasma market during the forecast period, primarily due to the high prevalence of orthopedic disorders, rise in incidence rates of rheumatology, increase in the number of sport injuries, and surge in adoption of platelet-rich plasma therapy.
  • The platelet-rich plasma market in Asia Pacific is expected to expand at a significant CAGR from 2018 to 2026. This is attributed to surge in investment in health care infrastructure, economy growth, large population base with orthopedic and rheumatology disorders in emerging countries such as China, India, South Korea, and Malaysia, and rise in per capita health care expenditure in the region.

Growing Awareness about Platelet-rich Plasma Therapies

  • Platelet-rich plasma technology was first used in 1987 in cardiovascular surgery. Awareness about the advantages and applications of platelet-rich plasma was limited to research laboratories only.
  • However, value-added advantages and applications of platelet-rich plasma therapy over conventional wound healing and disease treatments, such as, surgery and medicines have resulted in higher demand for platelet-rich plasma products globally
  • Increase in awareness has driven the demand for platelet-rich plasma therapy in the past few years in the emerging economies, such as, China, India, Brazil, and Russia, as well as in developed regions, including North America and Europe
  • Global players such as Cesca, Harvest, Arthrex, and Biomet are strengthening their existing distribution networks in these regions in order to increase their market presence and revenue

Pure Platelet-rich Plasma to be Highly Attractive Segment

  • In terms of type, the global platelet-rich plasma market has been bifurcated into pure platelet-rich plasma, leukocyte-rich platelet-rich plasma, and pure platelet-rich fibrin.
  • Pure platelet-rich plasma, also called leukocyte-poor platelet-rich plasma, is blood plasma that contains only platelets and trace amount of leukocytes.
  • Major advantages of pure platelet-rich plasma include ease of application to injuries and ligaments, conventional method of platelet-rich plasma production, rich concentration of platelets, and limited contamination with RBCs.
  • Pure platelet-rich plasma accounted for the dominant share of the global platelet-rich plasma market in 2017 due to its widespread use in various applications and rich content of platelets. The segment is likely to continue to dominate the market during the forecast period from 2018 to 2026.

Autologous Platelet-rich to be Highly Attractive Segment

  • In terms of origin, the global platelet-rich plasma market has been classified into autologous platelet-rich plasma, allogeneic platelet-rich plasma, and homologous platelet-rich plasma.
  • The autologous platelet-rich plasma segment is likely to dominate the global platelet-rich plasma market during the forecast period due to elimination of cost of clinical analysis for blood-borne diseases and the fees to be paid to blood donors.

Cosmetic Surgery Segment to Expand Significantly

  • In terms of application, the global platelet-rich plasma market has been classified orthopedic surgery, cosmetic surgery, general surgery, neurosurgery, and others.
  • Cosmetic Surgery segment is expected to grow at a higher CAGR during the forecast period due to rise in the applications of platelet-rich plasma products in hair transplant and other cosmetic applications drive the cosmetic surgery segment of the global platelet-rich plasma market

Asia Pacific to offers High Incremental Opportunity

  • The platelet-rich plasma market in Asia Pacific is projected to expand at a significant CAGR of during the forecast period.
  • Large number of patients with various rheumatology disorders, rise in number of sport injury cases, presence of emerging economies such as China and India, large geriatric population in Japan, and increase in awareness about the advantages and applications of PRP in various therapeutic areas present significant opportunities for global players in these countries.
  • North America is anticipated to dominate the global platelet-rich plasma market owing to high prevalence of orthopedic and rheumatology disorders, increased adoption of PRP therapy in treatment of various disorders, and significant rise in number of plastic and cosmetic surgical procedures in the region

Competitive Landscape

  • This report profiles major players in the global platelet-rich plasma market based on various attributes such as company overview, financial overview, product portfolio, business strategies, and recent developments
  • Leading players operating in the global platelet-rich plasma market are
    • Cesca Therapeutics, Inc.
    • AdiStem Ltd.
    • DePuy Synthes, Inc.
    • Arthrex, Inc
    • Zimmer Biomet,
    • Exactech, Inc.

Key Developments

Key players in the global platelet-rich plasma market are engaged in launch of new products, and partnerships & collaborative agreements with other companies. These strategies of key players are likely to fuel the growth of the global platelet-rich plasma market. A few expansion strategies adopted by players operating in the platelet-rich plasma market are:

  • In August 2017, Cesca Therapeutics, Inc. entered into a distribution agreement with Boyalife WSN Ltd. for sale and marketing of its bio-banking and point-of-care solutions in China, India, Singapore, and the Philippines.
  • In April 2016, a clinical research study conducted in Spain showed positive effect of platelet-rich plasma on androgenic alopecia.
  • In February 2015, Nuo Therapeutics, Inc. initiated phase 4 study of Aurix-system under CMS coverage with evidence development program (CED) for use in diabetic foot ulcers, venous leg ulcers, and pressure ulcers (bed sores).
  • In January 2015, NuMale Medical Center announced a milestone achievement in platelet-rich plasma treatment by treating its 3,000th patient for sexual dysfunction.

The report on the global platelet-rich plasma market discussed individual strategies, followed by company profiles of providers of platelet-rich plasma market. The ‘competitive landscape’ section has been included in the platelet-rich plasma market report to provide readers with a dashboard view and a company market share analysis of key players operating in the global platelet-rich plasma market.

The global platelet-rich plasma market has been segmented as follows:

  • Global Platelet-rich Plasma Market, by Type
    • Pure Platelet-rich Plasma
    • Leukocyte Platelet-rich Plasma
    • Pure Platelet-rich Fibrin
  • Global Platelet-rich Plasma Market, by Origin
    • Autologous
    • Allogeneic
    • Homologous
  • Global Platelet-rich Plasma Market, by Application
    • Orthopedic Surgery
    • Cosmetic Surgery
    • General Surgery
    • Neurosurgery
    • Other Surgeries
  • Global Platelet-rich Plasma Market, by Region
    • North America
      • U.S.
      • Canada
    • Europe
      • Germany
      • U.K.
      • France
      • Italy
      • Spain
      • Rest of the Europe
    • Asia Pacific          
      • China
      • India
      • Japan
      • Australia & New Zealand
      • Rest of Asia Pacific
    • Latin America
      • Brazil
      • Mexico
      • Rest of Latin America
    • Middle East & Africa
      • GCC Countries
      • South Africa
      • Rest of Middle East & Africa

Key Questions Answered in Platelet-rich Plasma Market Report

  • What is the scope of growth of companies in the platelet-rich plasma market?
  • What will be the Y-o-Y growth of the platelet-rich plasma market between 2020 and 2030?
  • What is the influence of changing trends in drug research and development on the global platelet-rich plasma market?
  • Will North America continue to remain the most profitable regional market for platelet-rich plasma products providers?
  • Which factors are anticipated to impede the growth of the global platelet-rich plasma market during the forecast period?
  • Which are the leading companies in the global platelet-rich plasma market?

Research Methodology

A unique research methodology has been utilized by VRR to conduct comprehensive research on the growth of the global platelet-rich plasma market and arrive at conclusions on its growth prospects. This research methodology is a combination of primary and secondary research, which helps analysts warrant the accuracy and reliability of the drawn conclusions.

Secondary methods referred to by analysts during the production of the global n platelet-rich plasma market report include statistics from company annual reports, SEC filings, company websites, investor presentations, regulatory databases, government publications, and industry white papers. Analysts have also interviewed senior managers, product portfolio managers, CEOs, VPs, and market intelligence managers, who contributed to the production of VRR’s study on the platelet-rich plasma market as primary methods.

These primary and secondary methods have provided exclusive information during interviews, which serves as a validation from the platelet-rich plasma market leaders. Access to an extensive internal repository and external proprietary databases enabled this report to address specific details and questions about the global platelet-rich plasma market with accuracy. The study also uses the top-down approach to assess the revenues for each segment and the bottom-up approach to counter-validate them. This has helped in reaching VRR’s estimates on future prospects of the global platelet-rich plasma market more reliably and accurately.


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