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.
Growing Awareness about Platelet-rich Plasma Therapies
Pure Platelet-rich Plasma to be Highly Attractive Segment
Autologous Platelet-rich to be Highly Attractive Segment
Cosmetic Surgery Segment to Expand Significantly
Asia Pacific to offers High Incremental Opportunity
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:
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:
Key Questions Answered in Platelet-rich Plasma Market Report
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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